Hung Yen is about to auction hundreds of land lots, the highest starting price is 7.8 billion VND

According to the announcement of Lac Viet Joint Stock Auction Company, on February 9, the unit will organize an auction of the right to use 273 adjacent land plots belonging to the District Sports, Cultural and Residential Complex in An Thi town. This is the property of the An Thi District People's Committee.

The plots of land have an area of ​​90-295 m2 per plot. The price of each plot is about 1.7 billion VND to over 7.8 billion VND, calculated at a starting price of 19-31 million VND per m2.

Customers participating must pay in advance about 346 million VND to 1.4 billion VND.

By the morning of February 16, 32 plots of land in Hamlet 12, Bai Say Commune were also put up for auction. The plots of land have an area of ​​83-123 m2, starting at 16-22 million VND per m2, equivalent to 1.3 billion VND to over 2.6 billion VND per plot. Customers participating must pay in advance about 275-533 million VND.

All auctions are conducted by direct secret ballot in one round according to the ascending price method, with price steps of 100,000 VND per square meter.

Since the third quarter of last year, the land auction market has heated up in the districts on the outskirts of Hanoi, then spread to many provinces and cities. A series of auctions with record winning prices have caused a stir in the market. There have even been cases of massive buying and selling at a higher price, with investors pushing up the winning price but either abandoning their deposits or not fulfilling their financial obligations.

In January, the Prime Minister asked the Minister of Finance to study and propose tax policies to limit real estate manipulation, price hikes and speculation. The Ministry of Public Security directed units to strictly handle organizations and individuals who violate land auction work or provide false information with the purpose of creating virtual fever and defrauding people for personal gain.