Dan Phuong has many "hot" projects, land prices reach 250 million VND/m2

(Dan Tri) - Since the beginning of the year, many investors and brokers have flocked to Dan Phuong district ( Hanoi ) to buy real estate, causing prices to increase rapidly. This district is having a series of "hot" projects.

Real estate prices in Dan Phuong district increase rapidly

According to a survey by Dan Tri reporters, in Tan Hoi commune (Dan Phuong district, Hanoi), real estate located on the main road is being sold at a staggering price of up to 150-250 million VND/m2. Meanwhile, in October 2024, the price of these plots of land will only be about 110-160 million VND/m2.

A 73m2 plot of land located on the main Phan Xich street is being sold for nearly 15.5 billion VND, equivalent to 212 million VND/m2. The seller also said that this plot of land could be worth up to 350 million VND/m2.

For auctioned land in Tan Hoi commune, located close to the area of ​​a large project being implemented, the selling price is up to 160-220 million VND/m2. Meanwhile, in mid-2024, the price of these plots of land is about 90-130 million VND/m2, depending on the location.

In Lien Trung commune, the price of real estate for sale has also increased sharply. Specifically, real estate located in the alley for cars in this commune is also being offered for sale from 110 million to 130 million VND/m2. Meanwhile, a year ago, similar houses were priced at only about 50-70 million VND/m2.

For example, a 39m2 house with 4 floors, located in an alley for cars, is being sold for 4.45 billion VND, equivalent to 114 million VND/m2.

Since the beginning of the year, many brokers and investors have flocked to Dan Phuong district (Photo: Duong Tam).

In Hong Ha, Lien Hong, Ha Mo communes and Phung town, real estate prices have also recorded a significant increase in recent times. Specifically, the selling price of real estate in Phung town is currently fluctuating between 85-105 million VND/m2. For example, a plot of land with an area of ​​66m2 in Dong Suc area (Phung town) is being offered for sale at nearly 6.3 billion VND, equivalent to 95 million VND/m2.

In Hong Ha commune, land prices are from 44 million VND to 50 million VND/m2 or Lien Hong has prices of 45-52 million VND/m2...

Mr. Minh, a resident of Tan Hoi commune, said that since the beginning of the year, many brokers have come here to rent space to open offices. Every day, brokers stand on the main roads to hand out flyers and invite customers to view land. Many people from the center of Hanoi also come here to buy land, causing prices to increase rapidly.

He said he owns a 70m2 plot of land in Thuong Hoi (Tan Hoi commune) that some people offered to buy at 120 million VND/m2 last year. However, Mr. Minh did not agree to sell and wanted to keep the land. Up to now, some people have offered to buy it at 14 billion VND, equivalent to 200 million VND/m2.

"Buyers are offering high prices but I haven't sold yet. Even if I sell, it will be difficult to buy another similar piece of land in the area, because many people still expect the price to increase so they don't sell. The plots of land that are being offered for sale are also very expensive," he said.

Mr. Thanh Phong - owner of a brokerage in Dan Phuong district - said that real estate prices in Dan Phuong district are increasing rapidly, reaching a fairly high level. Plots of land located on the road near large projects are being sold for over 100 million VND/m2. Plots of land located on the main road are all over 200 million VND/m2.

Real estate prices in Dan Phuong district have increased (Photo: Duong Tam).

"Many people stopped selling their land after seeing the rapid increase in land prices. They waited for land prices to continue to increase," he said.

Expert: There are factors pushing up prices

Talking to Dan Tri reporter, Mr. Pham Duc Toan - real estate expert - said that Dan Phuong real estate market is in a "fever" of prices, even with factors pushing prices beyond the advantages and potential of the area.

He compared that currently, many projects adjacent to National Highway 32 have completed infrastructure but the price only fluctuates around 80-100 million VND/m2. Therefore, the price of real estate in Dan Phuong district of over 200 million VND/m2 is unrealistic.

According to him, many people expect real estate prices here to continue to increase, because of the large projects being implemented and the Beltway 4 running through. However, investors also need to consider carefully before spending money. Because the real estate market in Dan Phuong district in the future will have a lot of supply, while real demand is limited.

"Dan Phuong district is quite far from the center of Hanoi, it will take many years to develop. Therefore, if buyers do not consider and follow the fever, they will easily get stuck," he said.

Dr. Nguyen Van Dinh - Chairman of the Vietnam Association of Real Estate Brokers (VARS) - commented that newly built and expanded transport infrastructure and large projects being implemented can bring great value to the neighboring real estate market. Accordingly, many speculative groups also take advantage of planning and project implementation information to push up selling prices.

However, the implementation of the projects will be long-term. Moreover, the land prices along the Ring Road 4 have increased many times to high levels. Therefore, before investing, investors and buyers need to carefully study the price history to avoid overpaying.

Source: https://dantri.com.vn/bat-dong-san/dan-phuong-co-nhieu-du-an-nong-gia-dat-cham-moc-250-trieu-dongm2-20250316030012481.htm