Auctioned land in Hoai Duc is still over 100 million VND per square meter

On November 4, the Hoai Duc Land Fund Development Center organized an auction of 20 plots of land (LK01 and LK02) in the Long Khuc rice field, Tien Yen commune. These plots of land have an area of ​​89-145 m2, all with a starting price of 7.3 million VND/m2.

According to the representative of the auction organizer, the land lot with the highest winning price was 103.3 million VND/m2, equivalent to more than 14 times the starting price. The lowest winning lot had a price of 85.3 million VND/m2, nearly 12 times the starting price.

Thus, compared to the auction of 19 plots of land in the same area nearly two months ago, the current winning price has somewhat "cooled down".

The auction on August 19 had more than 400 investors participating, pushing the highest winning lot to more than 133 million VND/m2 and more than a dozen other lots also won at over 100 million VND/m2.

The number of investors participating in yesterday's auction dropped sharply to just over 100 people.

Although not as high as the record on August 19, some investors still believe that the price of more than 100 million VND/m2 for the land in Tien Yen commune, Hoai Duc district is higher than the general market level in this area.

Ms. Duyen, an investor in Ha Dong with many years of experience in land auctions, said that the land lots won nearly two months ago are currently illiquid.

The number of people participating in auctions in Hoai Duc district has decreased sharply as management agencies have taken many steps to cool down this activity.

Many districts on the outskirts of Hanoi, including Hoai Duc, have had to temporarily suspend land auctions since the end of August to review legal issues.

Earlier this month, the Ministry of Natural Resources and Environment also proposed that the Government direct localities to publicize information about depositors to avoid price inflation and profiteering through land auctions.

Two weeks ago, the leader of the Hoai Duc District Land Fund Development Center announced that the first payment deadline for the 19 lots that won the auction on August 19 had expired. Six people who won 11 lots of land have fulfilled their financial obligations, including the highest winning lot with 133 million VND/m2.

Early next week, Hoai Duc will auction 32 more plots of land (LK05 and LK06) with areas ranging from 97 m2 to 172 m2, also in the Long Khuc field area, Tien Yen commune. The deposit ranges from 142-251 million VND/plot.

Since the beginning of the year, districts in Hanoi have collected more than VND11,000 billion from land use rights auctions. Meanwhile, in the same period last year, the city only collected about VND9,200 billion.