Land with 2 street fronts in Me Linh district won auction for nearly 50 million VND/m2

On the afternoon of September 18, Vietnam Auction Joint Stock Company successfully organized the auction of land use rights for land plots in Bach Da village, Kim Hoa commune, Me Linh district, Hanoi city (phase 6).

The winning bid was nearly double the starting price.

This auction has a total of 32 plots of land put up for auction with areas ranging from 73.5 - 187.5 m2/plot, starting prices ranging from 21.7 - 32.8 million VND/m2.

The lowest deposit for a plot of land is more than 360 million VND and the highest is more than 1.2 billion VND, with a total of more than 100 valid customers registering to participate in the above auction.

At around 3:30 p.m., representatives of Vietnam Auction Joint Stock Company completed the vote counting and announced the winning prices for 32 plots of land in the above land auction.

Hà Nội: Đất 2 mặt tiền ở huyện Mê Linh trúng đấu giá gần 50 triệu đồng/m2- Ảnh 1. — *Vietnam Auction Joint Stock Company counts the votes under the supervision of customers participating in the auction.*

According to Nguoi Dua Tin, the winning auction price for the 32 plots of land mentioned above ranges from 33.3 million VND/m2 to 48.9 million VND/m2, not much different from the starting price.

Only the highest winning price of 48.9 million VND/m2 for the land plot with code LK-4B-01 is nearly twice as high as the starting price.

This is one of the five largest plots of land to be auctioned in Me Linh district in the above auction and is considered one of the most primely located plots sought after by investors.

Specifically, the land plot has an area of 124 square meters, is located at a crossroads and has 2 street frontages.

The above land plot was auctioned with a starting price of 25.9 million VND/m2 and the amount that customers need to deposit for this land plot is more than 642 million VND. With the winning auction price of 48.9 million VND/m2, the above land plot will have a total value of more than 6 billion VND.

With the auction being a secret ballot auction of each plot of land with only one vote in ascending price steps of 200,000 VND/bid step, auction participants tend to bid quite close to the starting price given by the auction organization.

Reasonable price for both "seller and buyer"

Talking to Nguoi Dua Tin , Mr. Nguyen Van Hung (38 years old, Hanoi) - a participant in the auction said that the auction was well organized in the spirit of openness, transparency, in accordance with the law and many leaders participated in supervising the auction activities.

Although he did not win any of the 2 lots in the auction, Mr. Hung still believes that the closing price of the 32 lots is relatively reasonable and close to the market price.

Hà Nội: Đất 2 mặt tiền ở huyện Mê Linh trúng đấu giá gần 50 triệu đồng/m2- Ảnh 2. — *Customers vote for land auction in Me Linh district.*

Sharing the same opinion, Ms. Mai Hoa (40 years old, Hanoi) affirmed that for land plots in the range of 40 million VND/m2 or less is reasonable.

However, Ms. Hoa also stated that some plots of land were paid by investors up to nearly 50 million VND/m2, which is "slightly higher than the market price".

Sharing that she had participated in a land auction in Me Linh district 3 months ago, Ms. Hoa said that the land market in this district had established a new price level after a short time, the winning price had increased by about 10% compared to the price in the previous auction.

Regarding whether the increase in land prices in Me Linh district was due to the influence of land auctions with sky-high winning prices in Thanh Oai and Hoai Duc districts, both Mr. Hung and Ms. Hoa affirmed that they were not much affected by the above news.

The auction prices are based on personal assessments of land in Me Linh district and general market price surveys.

Brokerage at the auction site

According to Nguoi Dua Tin reporters, right after the auction at the door of the Cultural Information and Sports Center of Me Linh district - the place where the auction was held - it immediately became a "casino" for exchanging and buying and selling real estate.

Hà Nội: Đất 2 mặt tiền ở huyện Mê Linh trúng đấu giá gần 50 triệu đồng/m2- Ảnh 3. — *The auction site immediately became a "casino" for exchanging and buying and selling real estate.*

Many brokerage teams have prepared tables, chairs, umbrellas, and documents to invite customers to buy and sell auction land.

Many brokers expressed their willingness to pay to buy back the plots of land that were won at a lower price with a difference and asked for the account number to transfer the land deposit immediately.