Beltway 4 starts construction, land prices on the outskirts of Hanoi increase by tens of millions of VND/m2 after 1 month

After a period of silence due to the general frozen market, Hoai Duc real estate (Hanoi) has started to become active again. According to a survey by reporters, land prices in Hoai Duc have increased significantly compared to before Tet.

The main reason for the bustling land prices in Hoai Duc area is the Ring Road 4 passing through, which is under construction. Many investors from all over have flocked to take the lead, expecting land prices to increase even more after Ring Road 4 is completed in 2027.

A real estate broker named Luyen in Song Phuong commune said that in early 2022, land prices in Song Phuong, Duc Thuong, Duong Lieu, and Tien Yen communes averaged 40-50 million VND/m2, but have now increased quite sharply, ranging from 50-70 million VND/m2.

Meanwhile, central areas near Thang Long Boulevard with synchronous infrastructure such as An Khanh increased from 120 million VND in early 2022 to 165 million VND/m2.

Broker Luyen added that Song Phuong commune, although less than 500m from Ring Road 4, land prices here fluctuate little. Land funds in this area are very limited, prices have not increased much compared to the end of 2023.

In contrast to Song Phuong commune, in Tien Yen commune, real estate in this area can be said to be the most vibrant in Hoai Duc district. Although the price is not as high as An Khanh, the land fund here is quite large, close to Ring Road 4, so the land price here has increased sharply in the past month.

A broker named Toan in Tien Yen commune said that after Tet, the number of investors from Ha Dong coming to the commune to buy land increased dramatically, causing land prices here to increase from 25-35 million VND/m2 before Tet to about 39-45 million VND/m2.

Mr. Toan cited: "There are some beautiful plots of land, facing large roads, the transaction price increases every day. In less than 1 month, these plots have passed through several owners, the price has been pushed up by more than 10 million VND/m2".

According to Mr. Toan, Tien Yen commune is inherently a low-lying area, land prices have always been lower than those of communes near Thang Long Avenue, so there is still room for price increases. In addition, the decisive factor for price increases in this commune is since the construction of Ring Road 4 began a few months ago.

The Ring Road 4 of the capital region passes through Hoai Duc district with a length of about 17km. This is one of the factors that will promote the Hoai Duc real estate market to continue to increase in price in the coming time.

According to statistics, currently, the price of service land and residential land in An Khanh and An Thuong communes ranges from 30-165 million VND/m2. Some other places such as Kim Chung currently fluctuate from 35-70 million VND/m2; Di Trach 30-70 million VND/m2. This price has increased slightly compared to before the construction of Ring Road 4 started.

Land prices in some communes of Duc Thuong are around 30-40 million VND/m2; Duong Lieu 30-50 million VND/m2; Lai Yen commune 55-60 million VND/m2; Van Canh commune 60-90 million VND/m2. Prices have increased by 3-7 million VND/m2 compared to the end of last year.

Mr. Thuan, an investor in Ha Dong district, said that the high land prices in some communes in Hoai Duc in the past month were also due to the great impact of the general real estate market which is heating up again.

“According to observations, land prices in some hot spots in Hoai Duc district have local factors due to the construction of Ring Road 4. The remaining reason is due to the impact of the market warming up again,” Mr. Thuan analyzed.