Land prices in many suburban areas of Hanoi and border provinces are recording an increasing trend in the first months of 2025. However, market sentiment is still quite cautious, the transaction volume did not increase commensurate with the increase in land prices.
According to the survey, in Hoai Duc (Hanoi), land prices in areas such as An Khanh, Van Canh, Lai Yen have skyrocketed to 90-130 million VND/m2, in some places reaching 150 million VND/m2. Other areas such as Duc Thuong, Duong Lieu, Tien Yen are currently popular at 50-70 million VND/m2, an increase of 20-50% compared to the end of 2024.
Other suburban districts such as Dong Anh, Me Linh, Quoc Oai, Chuong My, Thach That also recorded an upward trend. In Dong Anh, land prices are currently at 60-100 million VND/m2, some locations close to the main axis have reached 130-150 million VND/m2. Me Linh - where the price was only 20-30 million VND/m2 - is currently being offered for sale in many areas at 40-55 million VND/m2. In Chuong My alone, land prices along National Highway 6, Chuc Son central area have reached 40-45 million VND/m2, a significant increase compared to the average of 25-30 million VND/m2 in 2024.
Although land prices have increased in many areas, in reality the market is not as vibrant as expected, investor sentiment is still quite cautious.
Mr. Nguyen Huu Lam (38 years old, Hai Ba Trung district, Hanoi) shared that he is researching the market in Chuong My district and has surveyed some plots of land near National Highway 6, currently being offered for sale at 40-42 million VND/m2. However, he has not made a decision yet.
"I have available finances but am still hesitant because I am afraid of weak liquidity. The new market shows signs of returning positively in some areas, I don't want to rush when the trend is not clear," he said.
Similarly, Ms. Tran Phuong Thao (32 years old, Cau Giay district, Hanoi), who invested in land in Hoai Duc and Me Linh, is still in a state of observation.
"I have surveyed and researched some areas for the past month, and have seen that the selling price has increased, but in reality, not many people have put down money to close the deal. Brokers offer many, but good legal products are rare. I am waiting for more signals from the bank, if the interest rate decreases again, then I will consider disbursing it" - she said.
Commenting on the actual transaction volume in the market, Mr. Dinh Trung Hieu - a land broker in Hoai Duc (Hanoi) - said that the number of people interested in land is increasing significantly, but the number of successful transactions is still quite modest.
After Tet, more visitors come to see the land, but most of them only stop at the survey level, there is no move to make a deposit. "Some people watched it three or four times and then withdrew. They are still cautious because the market has not created real confidence, Mr. Hieu shared.
Mr. Hieu believes that the cautious and reserved mentality comes from many reasons: The market has only changed, not really recovered; credit is not really open; concerns about liquidity and legal risks still exist. In particular, investors who were "stuck" during the 2022-2023 land fever period are still not ready to return to the market.
Faced with the current market reality, many experts have warned that land prices are increasing too quickly, while liquidity cannot keep up, the market has signs of a virtual fever.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Association of Realtors (VARs) - recommended that investors need to be cautious with virtual fevers, especially in areas with land prices increasing following rumors, lacking transparency in planning progress and legality.
Mr. Dinh also commented that the real estate market is in the early stages of the new cycle, very sensitive to impact factors. If the market only focuses on maximizing short-term profits without paying attention to long-term factors such as supply and demand, the market will face the risk of adjustment.
