Land auction in suburban district of Hanoi wins again over 100 million VND per square meter

The 26 plots of land to be auctioned are located in land lot DG 31/2019, Yen Quan village, Hung Dao commune (formerly Tan Phu commune) with areas ranging from 85 m2 to 122 m2. The location of the land lot is more than 20 km west of the center of the capital.

The auction will go through six rounds of mandatory voting. The starting price for the first round is nearly VND5.5 million per square meter, with each round increasing by VND3 million.

The entire plot of land was successfully auctioned. The highest winning price was 104 million VND and the lowest was 62 million VND per square meter. Quoc Oai District expects to collect nearly 200 billion VND if investors pay the full auction price.

Thus, compared to the auction of land plots in this area in early January, the winning price this time increased by 35-50%. In the auction that lasted nearly 14 hours earlier this year, 26 land plots in the DG 31/2019 area won with the highest price of 77 million VND and the lowest price of 41 million VND per square meter.

Previously, in November 2024, 20 plots at the Yen Quan village auction site were auctioned with the highest winning price of 95 million VND, the lowest of 71 million VND per square meter. Last year, Quoc Oai district successfully organized 7 auctions with more than 160 lots, earning over 825 billion VND.

Auctioned land in Quoc Oai has increased sharply - contrary to the general trend in many districts on the outskirts of Hanoi. Recently, the winning price at auctions has tended to decrease by tens of percent compared to the feverish period at the end of last year, and there is no longer a winning price of over 100 million VND per square meter.

For example, in Me Linh, the auction of 15 plots of land in Trang Viet commune on March 21 recorded the highest price of 78 million VND per square meter, down 20% compared to the end of last year. A few days earlier, Thanh Oai district also organized an auction of nearly 90 plots of land in Do Dong commune. The lot with the highest winning price reached nearly 80 million VND per square meter, more than 7 times higher than the starting price. However, this price decreased by 12% compared to the auction in November 2024 and 22% compared to the auction in early August 2024.