Auctioned overnight, land in suburban district of Hanoi won over 133 million VND/m2

The last lot at the auction at the Hoai Duc District Cultural Information Center found its owner at 4:30 a.m. on August 20. The auction of 19 lots in Long Khuc area, Tien Yen commune lasted about 18 hours, with 10 rounds of bidding. On the morning of August 19, when the auction started, there were over 400 investors attending.

According to preliminary results, all the lots were successfully auctioned. The highest lot won at 133 million VND/m2, more than 18 times the starting price. This lot, coded LK03-12, is located at a corner with 2 open sides, with an area of ​​over 113 m2. Thus, the winning bidder will have to spend nearly 15.1 billion VND.

In addition to the above plot, 11 other plots were also priced at over VND100 million/m2. Three plots with symbols LK03-6, LK03-7 (91.67 m2 wide) and LK04-6 (115.95 m2 wide) won the bid of VND127.3 million per m2. The value of the plots is over VND15 billion, VND11.6 billion and VND14.7 billion respectively.

The two plots of land with the lowest winning price in this session were 91.3 million VND per square meter. However, this price was still 12.5 times higher than the starting price.

The price of 90-100 million VND/m2 for land plots in Tien Yen commune was predicted by some investors and brokers before the auction. According to some investors, this price is reasonable because 19 plots of land with a total of 71 plots have been invested in synchronous infrastructure of roads, electricity, and drainage. The land can benefit after the completion of the Ring Road 4 project when it is only about 100 m away. At the same time, the land auction a dozen days ago in Thanh Oai district, although the location is not as good, still had a winning plot with more than 100 million VND/m2.

Although the auction ended early in the morning, many brokers were still waiting in front of the hall of the Hoai Duc District Cultural Information Center to ask for information about the land lots and the phone numbers of the winners. This allows brokers to contact interested customers as soon as possible, as well as to grasp the price at which investors want to deposit.

After winning the auction, the winner must pay the remaining amount, no later than 30 days from the date of winning the auction. In addition, the winner must also pay related fees and taxes such as notary fees, registration tax and some other costs. If the payment is not made on time, the winner may lose the deposit and the right to own the land.

Hoai Duc is expected to collect more than 186 billion VND from the auction. This area also has many existing large-scale urban areas, with villas and townhouses priced at over 100 million VND per square meter. Residential land in Tien Yen commune with car-accessible locations is being offered for sale at 70-80 million VND per square meter, and there are lots in smaller alleys priced from 40 million VND.

According to the plan of the Hanoi People's Committee, Hoai Duc, along with Gia Lam, Dong Anh, Dan Phuong, Thanh Tri, are 5 districts that will become districts in 2025. Hoai Duc is located in the West, more than 15 km from the city center. This district has an area of ​​82 km2, a population of over 230,000 people, including 19 communes and one town.