Investors praise 60 million/m2 as reasonable, people say 30 million/m2 is the right price

On the morning of August 29, the Land Fund Development Center of Phuc Tho district ( Hanoi ) successfully organized an auction of land use rights for 30 plots of land in Doc Tranh area, Trach My Loc commune (Phuc Tho, Hanoi) and 9 plots of land in Dong Phuong area, Tho Loc commune (Phuc Tho, Hanoi).

A representative of the Land Fund Development Center of Phuc Tho district said that the district received a total of 650 valid registration dossiers to participate in the auction and more than 350 people came to participate in the live auction.

With a starting price of VND23.4 million/m2, the winning auction price for the 39 plots of land above ranges from VND24 million/m2 to VND60 million/m2.

Price of 60 million VND/m2 is only suitable for real estate investors?

Sharing with Nguoi Dua Tin , Mr. Phung Huu Thang (Nam Tu Liem, Hanoi) - the highest bidder with 60 million VND/m2 for land lot DG06 said he went to the auction under the authorization of an investor.

Accordingly, Mr. Thang shared that when learning about the geographical location of Phuc Tho, the infrastructure around the area, the surrounding market price... Mr. Thang chose to offer a price of 60 million VND/m2 for the land plot that he considered "the most beautiful among 39 lots".

However, Mr. Thang himself admitted that the price of 60 million VND/m2 is quite high compared to the area and compared to the overall auction.

Initially, he also intended to pay just over 50 million VND/m2, but "fearing losing the beautiful land to someone else", he decided to offer a high price to completely eliminate the risks of having to compete with other competitors.

Paying 60 million VND/m2 for a plot of land in Phuc Tho, the investor considers it quite high.

Also participating in the auction but not winning any plot of land, Mr. Le Dinh Thang (32 years old, Cau Giay, Hanoi) commented that the winning price today compared to the market is relatively high.

The reason for saying so is because Mr. Thang said that he surveyed the area around the auctioned land and recorded the price was only under 30 million VND/m2 and there was still no one interested in buying it.

Meanwhile, the winning price for some lots is up to 50-60 million VND/m2. Mr. Thang commented that the above price is relatively "virtual", however, due to the high deposit, he thinks no one will dare to deposit hundreds of millions of VND.

As a participant in many previous auctions in Phuc Tho district, Mr. Thang said that previous auctions in the district recorded a very small number of participants, only about a dozen people with real housing needs, and some auctions even had to endure the situation of "empty houses and empty gardens".

However, in this session, the number of participants increased dramatically, showing the heat of the market.

"Now the real estate market is going up, people with money are pouring money into land. Currently, land is "hot", banks are opening up for loans, so the increase in the number of people participating in auctions is completely reasonable," said Mr. Thang.

Mr. Thang, who once participated in an auction in Hoai Duc and won a plot of land at a fairly high price, shared that he has not yet successfully sold the plot of land because the price is high and the market seems to be cautious.

The winning price for 39 plots of land in Phuc Tho district ranges from 24 million VND/m2 to 60 million VND/m2. (Photo: Huu Thang)

Assessing the effectiveness of high deposits and auctions by voting, Ms. Cam Thi Phuong (Phung Thuong commune, Phuc Tho district) said that she personally found the auction by voting method to be reasonable, ensuring both publicity and transparency while saving too much time for both the organizing unit and the auction participants.

However, sharing her personal opinion about today's auction price, Ms. Phuong said that this price is higher than the general level in the area.

Intending to participate in the auction to own a plot of land to build a long-term house, Ms. Phuong said the price of about 30 million VND/m2 is reasonable, easily accessible to people with real housing needs.

As for the price being too high at over 50-60 million VND/m2, Ms. Phuong shared that it will only reach real estate investors, making it difficult for people in this area with real housing needs to own land.

Before the auction, brokerage venues selling auctioned land have sprung up like mushrooms.

Notably, even before the voting activity began, Nguoi Dua Tin recorded that in the area where the land lots were put up for auction, many brokers were gathered to advertise the auctioned land for sale, and many locations also recorded very clear signs with the title "Land for sale at auction".

This team of brokers prepares very carefully from tables and chairs for guests to view and documents with information about each piece of land.

Brokers gathered at the auction area before the land auction took place (Photo: Huu Thang).

When asked more carefully, although the official price has not been given, the brokerage team here also introduced to customers that the auctioned land will be resold for about 40 million VND/m2 - this number coincidentally only slightly different from the auction result.

Accordingly, the broker "holds in hand" the final amount of money from this auction that has not yet taken place and offers a very suitable price that is enough to make a profit for himself, but not too high compared to the general level in the area (about 30 million VND/m2).

Many people were already sitting in the auction area to sell real estate (Photo: Huu Thang).

It was not surprising that right after the auction ended, opposite the gate of the Phuc Tho District Cultural Center - where the auction had just taken place - there were many broker groups soliciting buyers, from direct invitations to phone calls to advertise sales, all very busy.

Right after the auction, the gate of Phuc Tho District Cultural Center gathered many "buyers and sellers" (Photo: Huu Thang).

In addition to the brokers who win the land price and then sell it to other customers, there are also a large number of "brokers" who follow the people who win the land price to ask to be brokers to resell it to other customers.

The price these brokers offer is about 50 million VND/successful transaction, some even bargain for only 30 million VND/transaction.

Further discussion, most of the land at the auction was sold by brokers at a difference of 200-300 million VND/plot depending on the location.

Many investors came to the auction site to take brokers straight to the land location to see it in person. (Photo: Huu Thang)

At around 12 noon on August 29, Nguoi Dua Tin reporters recorded a number of investors and customers coming to the place to pick up brokers to see the land directly after receiving invitation calls, showing the "heat" and interest more than ever in the real estate market in the suburbs of Hanoi.

Hong Nhung - Huu Thang

Source: https://www.nguoiduatin.vn/dau-gia-dat-phuc-tho-nha-dau-tu-khen-60-trieu-m2-hop-ly-nguoi-dan-noi-30-trieu-m2-moi-la-gia-phu-hop-20424082913140434.htm