After the deposit cancellation, the highest auctioned land price in Hanoi is under 50 million VND/m2.
HQ (according to Vietnamnet)•September 20, 2024 07:33
32 plots of land were auctioned by Me Linh district (Hanoi), the highest winning price was 48.9 million VND/m2, nearly double the starting price. The lowest winning price was 33.3 million VND/m2.
Ring Road 4 project passes through Me Linh district
32 plots of land were successfully auctioned by Me Linh district on the afternoon of September 18. This is the 6th land auction in Bach Da village, Kim Hoa commune with plots ranging in area from 73.5-187.5m2. Starting prices range from 21.7-32.8 million VND/m2. The lowest deposit for a plot of land is over 405 million VND, the highest is over 1.2 billion VND.
The winning price ranges from 33.3-48.9 million VND/m2. The winning price is not too different from the starting price, the highest is only nearly 2 times higher.
The highest priced plot of land is 48.9 million VND/m2 with an area of 124m2 located at 2 street fronts. Thus, the total value of this plot of land is more than 6 billion VND. The deposit for the plot of land is more than 640 million VND.
Like many previous auctions, immediately after the end, a series of land lots were advertised for sale on social networking sites and at the auction area, with a difference of 50-500 million VND/lot, depending on area and location.
According to real estate brokers in Me Linh district, the lots with a price difference of 500 million VND are mainly located at corners, so they attract more buyers than other lots.
Some auction participants said that the winning price this time in Me Linh was not too high compared to the initial estimate (about 45-50 million VND/m2) and was quite close to the land price around the area.
Survey of land prices around the auction area is currently being offered for sale from 30-40 million VND/m2.
The auction was originally scheduled for September 12. However, due to Typhoon Yagi, the date was changed to September 18.
In June, Me Linh district successfully auctioned 51 plots of land in Lien Mac commune. The plots ranged in area from 95-263.2 square meters. The starting price was around VND18.4-20.6 million/square meter, the highest winning bid was VND38.8 million/square meter.
This year, Me Linh plans to auction about 500 plots of land. These are all plots of land in beautiful locations, ahead of the Ring Road 4 project. Revenue from the auction of land use rights will be used by the district to invest in infrastructure construction to develop the socio-economic system to meet the criteria of becoming a district after 2025 and a city under the capital after 2030.
Recently, the Land Fund Development Center of Thanh Oai District (Hanoi) informed that the deadline for payment of the auction of 68 land plots in Ngo Ba area, Thanh Than village, Thanh Cao commune, held on August 10, has expired, but only 13 plots have fulfilled their financial obligations. The plots for which payment was made had the highest price of VND55.167 million/m2. The remaining plots, including the plot with the highest winning price of VND100.5 million/m2, have not been paid.
After this land auction in Thanh Oai district, many auctions recorded winning prices of over 50-133.3 million VND/m2.
For example, in the auction of 19 plots of land in Long Khuc area, Tien Yen commune, Hoai Duc district, the highest winning bid was up to 133.3 million VND/m2. Compared to the starting price of 7.3 million VND, the investor paid more than 18 times more for this plot of land.
In Phuc Tho district (Hanoi), the last 3 land auctions continuously recorded new records, when the highest winning price in each session was higher than the previous session, from 60 to 69.8 and 75 million VND/m2.
Specifically, on September 16, 13 plots of land in Doc Tranh area, Trach My Loc commune were successfully auctioned by Phuc Tho district. The highest winning price was 75 million VND/m2, 3 times higher than the starting price.
Previously, the auction on August 29, with 39 plots of land recorded more than 650 applications, with more than 350 investors participating, equivalent to each plot of land having 9 interested people. The highest winning plot of land was 60 million VND/m2.
On September 10, the auction of 47 plots of land had a total of 416 applications, attracting 180 registered customers, equivalent to about 4 interested people for each plot of land.
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