Thanh Oai land price developments before the auction of 100 million VND/m2

The recent land auction in Thanh Cao commune, Thanh Oai district ( Hanoi ) had a winning price of more than 100 million VND/m2. Meanwhile, the average land selling price in the second quarter of 2024 in this locality is only about 27 million VND/m2, according to the price history tool of Batdongsan.com.vn.

On the morning of August 10, the auction of 68 plots of land in Ngo Ba area, Thanh Than village, Thanh Cao commune (Thanh Oai, Hanoi) took place. After the auction, the plot with the highest winning price was over 100 million VND/m2, 8 times higher than the starting price. The regular plots also had winning prices of 63-80 million VND/m2, 5-6.4 times higher than the starting price.

In fact, the price of land for sale in Thanh Cao commune (Thanh Oai, Hanoi) has been on an upward trend in recent years. According to the price history tool of the above unit, the average land price for sale in this locality has increased by about 80% in the past 4 years. The common level was 15 million VND/m2 in 2020, increasing to 27 million VND/m2 this year.

Thus, compared to the common selling price of 27 million VND/m2 in the second quarter, the winning bid price of 63-100 million VND/m2 for land lots in Thanh Cao commune in the auction on August 10 is 2.3 to 3.7 times higher.

This unit also said that the common land sale price in neighboring communes of Thanh Oai district ranges from 20-30 million VND/m2.

People can now grasp the developments and amplitude of increase or decrease in selling price or rental price of the project or area they are viewing for up to 5 years thanks to the price history tool.

Scene of the auction of 68 land lots in Thanh Cao commune (Thanh Oai, Hanoi) (Photo: DT).

Assessing the land market, Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, predicted that from the second quarter of 2025 onwards, this segment will only begin to enter the main trend of recovery. The current waves are only local in some areas.

He believes that there are three main factors that greatly affect the land market, including the regional economy , even more macro-economically the country's economy, infrastructure planning and population, and connectivity with other localities.

After a difficult market period, the general psychology of real estate buyers and investors will be more cautious than before. Therefore, he recommends that buyers and investors should research the market carefully and learn about price fluctuations through objective sources of information such as historical price tools before deciding to spend money on any product.

Source: https://dantri.com.vn/bat-dong-san/dien-bien-gia-dat-thanh-oai-truoc-vu-dau-gia-100-trieu-dongm2-20240813170315452.htm