{"id":25939,"date":"2021-11-23T05:14:34","date_gmt":"2021-11-22T22:14:34","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25939"},"modified":"2022-01-05T11:54:31","modified_gmt":"2022-01-05T04:54:31","slug":"land-prices-in-suburban-hanoi-increase-by-30-40-percent","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/land-prices-in-suburban-hanoi-increase-by-30-40-percent\/","title":{"rendered":"Land prices in suburban Hanoi increase by 30-40%"},"content":{"rendered":"

Rumours of some districts being developed under the \u201ccity within a city\u201d model have caused a price spike<\/span>\u00a0<\/span><\/p>\n

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Due to\u00a0news\u00a0that\u00a0some districts across Vietnam\u00a0are being\u00a0developed under the model of \u201ccity within a city\u201d,\u00a0land prices\u00a0in suburban areas\u00a0are surging once again, reported Vietnam News<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

The first land price increase happened back in March when information about the Red River\u00a0urban planning project was revealed. The project is currently in the planning phase and is expected to be\u00a0approved by the end of 2021.\u00a0<\/span>\u00a0<\/span><\/p>\n

Land prices are now again rising in the same districts of Dong Anh, Soc Son, and Me Linh, due to rumours of further development in these areas. <\/span>\u00a0<\/span><\/p>\n

According to locals, a piece of land near Dong Do Lake in Soc Son district is currently valued at VND12 million per square metre (USD528.76). This is a staggering increase from the VND5 million evaluation last year. <\/span>\u00a0<\/span><\/p>\n

Meanwhile, land prices in Minh Phu commune of Soc Son district increased by 30 percent year-on-year, and land prices in Minh Tri commune surged to VND10-12 million per square\u00a0metre\u00a0from VND7-8 million at the start of\u00a02021.<\/span>\u00a0<\/span><\/p>\n

Based on the news of transforming Me Linh district into a city, real estate brokerage centres have returned to the area, pushing the price of land up by 30 to 40 percent.<\/span>\u00a0<\/span><\/p>\n

“Every time there is new information relating to the Red River urban plan, the land prices in those districts increase. Investors are interested in regional planning; if there is investment potential, they will visit the land areas and quickly make investment decisions”, said Nguyen Nam, a real estate broker in Me Linh.<\/span>\u00a0<\/span><\/p>\n

Moreover,\u00a0Dong Anh has always had a busy property market due to its location near inner-city districts.\u00a0<\/span>\u00a0<\/span><\/p>\n

Thanks to\u00a0rumours\u00a0of developing a \u2018city within the city\u2019,\u00a0investors are paying more attention to land investment in Dong Anh. Consequently, land prices in some communes like Vinh Ngoc, Hai Boi, and Xuan Canh saw a jump of 15-20 percent, and even 40 percent.<\/span>\u00a0<\/span><\/p>\n

Chairman of the Vietnam Real Estate Brokers Association Nguyen Van Dinh, said Hanoi plans to develop five suburban districts of Hoai Duc, Dong Anh, Thanh Tri, Gia Lam, and Dan Phuong to become inner-city districts by 2025.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: The UK and Vietnam work together in boosting digital transformation<\/strong><\/a><\/p>\n

These areas are expected to\u00a0become key\u00a0residential\u00a0development\u00a0regions in the\u00a0future.\u00a0<\/span>\u00a0<\/span><\/p>\n

“When the land fund in the inner city becomes limited, investors also tend to expand to the suburban areas. In addition, improved infrastructure also contributes to promoting the tendency of people moving away from the city\u00a0centre,\u201d said Do Thu Hang, senior director of advisory services at Savills Hanoi.<\/span>\u00a0<\/span><\/p>\n

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The Property Report editors wrote this article. For more information, email:\u00a0propertyreport@propertyguru.com<\/a><\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Rumours\u00a0of some districts being developed under the \u201ccity within a city\u201d model have caused a price spike\u00a0<\/p>\n","protected":false},"author":12,"featured_media":25940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[195,502,528,135],"class_list":["post-25939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-hanoi","tag-land-prices","tag-market-update","tag-vietnam","news_country-vietnam","news_author-property-report"],"acf":[],"yoast_head":"\nLand prices in suburban Hanoi increase by 30-40% | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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