A new urban area is about to appear, and real estate prices in a suburban area of Hanoi are "surging"

Recently, real estate prices in Me Linh (Hanoi) have tended to increase sharply, due to planning information of a large urban area.

Me Linh District (old) was once the site of a typhoon. land fever when the Ring Road 4 project started construction and information about the Hong Ha bridge was accelerated. Up to now, land prices in this area continue to "heat up" when Sun Group Corporation proposed to study the planning and investment of a large-scale urban complex here.

According to a survey, recently, real estate prices in Me Linh commune have shown a clear upward trend, with street-front house prices increasing by about 20-30% compared to the same period last year.

Many houses and land located on the business street are being sold for about 70 - 110 million VND/m². There are even plots of land being sold for about 150 - 200 million VND/m².

For example, a 70m² plot of land facing the national highway is being sold for VND10 billion, equivalent to more than VND142 million/m². Another 80m² plot of land facing the highway is being sold for VND12.5 billion, equivalent to VND156 million/m².

Ms. Le Thi Duyen - a real estate broker said that in the past 3 months, many investors have been interested in Me Linh land. Starting about 2-3 months ago, real estate prices in this area continued to increase due to information that some projects of large investors are about to be implemented.

“ The price of land plots facing the street has now reached 150 million VND/m2. Even land plots facing the car alley are priced at 50 - 70 million VND/m2. Despite the high prices, many landowners still have the mentality of holding on to the land to push up the price ,” said Ms. Duyen.

Real estate prices in Me Linh "rise again" (Illustration photo)

Also according to Ms. Duyen, after Lunar New Year, Real estate prices in Me Linh There have not been many fluctuations, mainly increasing in projects with clear legal status and residential land. However, when there is information about planning research of a large urban area, land prices begin to increase sharply.

“ In fact, land prices in Me Linh have increased many times. Every time there is new information, investors flock here to ask many questions, causing land prices to fluctuate again, ” said Ms. Duyen.

Not only residential land but also urban area projects, villas in Me Linh also increased by 30 - 40% compared to the same period in 2024.

At the Long Viet Riverside project, the selling price of villas and townhouses here is at 80 - 120 million VND/m², the most common is at 95 million VND/m², an increase of about 60% compared to 1 year ago.

Or the HUD Me Linh Central project, the selling price of villas and townhouses currently ranges from 60 - 85 million VND/m², most commonly at 77 million VND/m², an increase of about 25% compared to 2024.

Mr. Hoang Ngoc Tuan - an individual investor living in Cau Giay ward ( Hanoi ) said: " I have been interested in Me Linh land since the end of last year when the land price here was still low compared to many other places. But when there was news about the new urban area, I decided to conduct a field survey and found many similarities with Dong Anh 3-5 years ago, that is, the land price started to rise ".

Be careful of "broken waves"

Mr. Pham Duc Toan, General Director of EZ Property Company, warned that the phenomenon of "hot land according to planning" has been repeated in many suburban areas of Hanoi such as Dong Anh, Long Bien, Hoai Duc... But if investors cannot distinguish between approved planning and just research proposals, it will be very easy to buy land with inflated prices or legal problems.

The price of many plots of land in car alleys in Me Linh also increased by 20% after only 1 year.

Mr. Toan emphasized: “ Me Linh has potential thanks to its location and large land fund. However, investing at this time is only suitable for those with a 5-7 year vision, no bank loans, and no expectation of short-term trading. Otherwise, the risk of long-term 'holding goods' is very high .”

Besides, according to Mr. Toan, although Me Linh has Ring Road 4 passing through, in reality, Ring Road 4 is only inter-regional and mostly runs on high ground, through many agricultural areas, quite similar to a highway. This is not a cross-urban traffic axis, so even if there is more information about the start or completion, it is difficult to push real estate prices up further if there are no urban areas created and formed along this road axis.

Mr. Toan also said that even in areas that continuously benefit from planning information such as Hoai Duc and Me Linh, many projects around Ring Road 3.5 have not yet been filled, dozens of projects are in a "shelved" state, with no one living there, so the expectation of investment waiting for price increases or exploiting for rent and business around Ring Road 4 is still very far away. Not to mention the time to complete a ring road is not short-term but can be extended.

Mr. Nguyen Van Dinh - Chairman of the Real Estate Brokerage Association also said that in the past, the real estate market experienced a price explosion in many areas when there was information about infrastructure planning, however, this was mostly due to taking advantage of the information to push up market prices.

In fact, investors who invested in real estate in these areas in the past all expected to make a profit and have good liquidity, but in the end they could not liquidate and had to find a way to cut losses, so they fell into a difficult situation.

According to Mr. Dinh, the inflated areas will quickly cool down, because the market is tending to return to its real value.

Economist Nguyen Minh Phong also believes that infrastructure is a lever to increase the value of real estate. Therefore, planning infrastructure projects is always a key factor that is easily exploited by speculators to create land fever, pushing real estate prices many times higher than their real value.

In fact, many investors have fallen into a difficult situation when the "wave broke", unable to sell their goods. Therefore, people need to be very alert, avoiding the crowd mentality when choosing to buy real estate "following" the planning.

Source: https://baolangson.vn/sap-xuat-hien-dai-do-thi-gia-nha-dat-tai-mot-vung-ven-ha-noi-noi-song-5056014.html