Hanoi Department of Natural Resources and Environment reviews sky-high land auctions

Speaking to Dan Tri reporters on the morning of August 21 , the leader of the Hanoi Department of Natural Resources and Environment said that the Department is reviewing land auctions. When there are specific conclusions, the Department will inform later.

Previously, Hoai Duc district (Hanoi) organized an auction of 19 land lots in LK03 and LK04 areas of Long Khuc village, Tien Yen commune. After 20 hours with 9 rounds of bidding, land lot LK03-12 had the highest winning price of up to 133.3 million VND/m2, more than 18 times higher than the starting price. This land lot has an area of 113m2, so the total value of the whole lot is 15 billion VND.

In addition, lots LK03-06 and LK-4-06 ranked second at 127.3 million VND/m2. The other 14 lots had winning prices ranging from 97.3 to 121.3 million VND/m2. The two lots with the lowest winning prices were 91.3 million VND/m2 but were also 12.5 times higher than the starting price.

Brokers present at the auction also admitted that before the auction took place, the land price on the main road next to the auctioned land was traded at around 80-90 million VND, while the land lots in the alley for cars ranged from 55-60 million VND. The highest price of 133.3 million VND/m2 was much higher than the market price in the area.

Many brokers immediately advertised each lot for sale at a difference of hundreds of millions of dong after the auction ended (Photo: Duong Tam).

It is worth mentioning that after the auction ended, the winning bidder immediately put the lot up for sale at a difference of 250-600 million VND/lot. Even the lot with the highest winning bid was put up for sale at a difference of 800 million VND.

Previously, the auction of 68 plots of land in Ngo Ba area, Thanh Than village, Thanh Cao commune (Thanh Oai, Hanoi) took place on the morning of August 10, which also surprised many investors. At the end of the session, the corner lot had the highest winning price of nearly 100.5 million VND/m2, 8 times higher than the starting price. The regular lots had winning prices of 63-80 million VND/m2, 5-6.4 times higher than the starting price.

Immediately after winning the auction, many investors advertised for sale on groups with a difference of 300-500 million VND/lot. However, just one day later, the difference dropped to 100-200 million VND.

On July 28, Dan Phuong district (Hanoi) also organized an auction of 85 land lots in Dan Phuong, Ha Mo and Phuong Dinh communes with 1,252 sets of documents submitted to participate in the auction. As a result, a land lot in Ha Mo commune was bid up to 99.2 million VND/m2, which surprised many people.

Most recently, the "fire pan" of auctioning 19 land lots in Long Khuc area, Tien Yen commune, Hoai Duc district continued to heat up when more than 700 applications were submitted to participate in bidding.

This land auction in Hoai Duc district lasted all night, from 9am on August 19 to 4:30am on the morning of August 20. The highest winning bid was up to 133.3 million VND/m2 for LK03-12, a corner plot with 3 frontages, over 113 m2 wide; the total value was up to more than 15 billion VND. Compared to the starting price of 7.3 million VND, the investor paid more than 18 times more for this plot of land.

The 2 lots with the second highest auction price are LK03-6 and LK04-6, up to 127.3 million VND/m2. The remaining 14 lots have auction prices ranging from 97.3 to 121.3 million VND/m2. The 2 lots with the lowest auction price are also up to 91.3 million VND/m2.

Source: https://dantri.com.vn/bat-dong-san/so-tnmt-ha-noi-ra-soat-cac-phien-dau-gia-dat-cao-chot-vot-20240821112602939.htm