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Land Price In Saigon – Hanoi Increased In 2016

Prices of land in Saigon and Hanoi increased

Compared to the first quarter of 2016, the current land prices in Saigon have escalated throughout the urban axis east – southwest of the city. A number of land transactions as late as the year, the land people are holding speculators, the market is judged to show signs of virtual fever since the fourth quarter.

District 9 is the area with the most land price increase in the East. In 4 consecutive quarters, many roads recorded land price fluctuations. Lo Lu road, land of 50-60 sqm a background cost VND 1.5 to 1.6 billion, doubling compared to the beginning of the year. Hung Phu’s internal road last year was VND 9 million per square meter, double the asking price to VND 18.5 million per square meter. Le Van Viet route recorded a 42% increase, land price from an average milestone of VND 42 million per square meter reached VND  59.47 million. The front of Bung Ong Tho street is 30% higher.

On the southern axis of HCM City, land prices also fluctuate in District 7, Nha Be and Binh Chanh. Chateau Phu My Hung Chateau increased over 10%. Pham Huu Lau street has increased more than 50%, currently trading 34 million/ sqm. Tran Trong Cung Street land prices increased over 30% compared with the beginning of the year, now 35-45 million per sqm depending on the location. The front of Dao Tri street increased from VND 29 million to VND 33-34 million per square meter.

Prices of land in Saigon and Hanoi increased
Land prices in HCMC increased due to the impact of infrastructure and investors, speculation

Land prices in HCMC increased due to the impact of infrastructure and investors, speculation. In the last 6 months of 2016, the project land in Phu Xuan (Nha Be) from 6-9 million per sqm now is the lowest of 12.5 million per sqm. Land located in Phuoc Kien 1 area from 35-36 million per sqm, has moved up to VND 42-43 million. Binh Chanh area, land near the Binh Dien wholesale market, Trinh Quang Nghi street at the beginning of the year brought VND 8-9 million per sqm to December 2016  jumped to VND 15 million per sqm.

West of HCM City includes District 12, Tan Phu, land prices are going up fast, many roads up 70-80% compared to the beginning of the year. Land of Nguyen Huu Tien VND 38-40 million per sqm, Le Trong Tan (connect Nguyen Thi Tu) reached 20 million per m2, Ho Van Long VND 25-35 million per sqm. Ha Huy Giap Street, the main road of Thanh Xuan area increased 20-30% compared to the beginning of the year.

General director of a real estate investment company nearly two decades of market observation, the land price increase in 2016 in Saigon appeared the situation investors, speculation races, signs of fever shirt. The reason that Sai Gon land price increases continuously in the year is explained by the fact that the infrastructure in Ho Chi Minh City is getting better or faster. In addition, the wave of large-scale land acquisition investment large-scale projects affect the psychology of the market, people have self-empowered land prices. On the other hand, land fever is also seen as a change in investment tastes after a long time the apartment is the focus of the market.

Prices of land in Saigon and Hanoi increased
Some land projects in the West of Hanoi area have good liquidity and price increases in 2016

While the price of land in Saigon increased on a large scale, in Hanoi, the local fever, mainly in the West. The land projects to be sold in 2016 are mainly located outside the ring road 3 such as South 32 urban area (Hoai Duc), Phu Luong, Thanh Ha Cienco 5, Geleximco Le Trong Tan (Ha Dong) , Duyen Thai (Thuong Tin) … with the selling price range from 15-30 million. The land in these projects only after a few months to market has increased about 2-7 million m2 per square meter compared to the first sale, depending on location.

The most expensive area of Dong Anh is currently priced at VND30 million per square meter, while only VND20-23 million at the beginning of the year. Meanwhile, in the segment of residential land, the prices of some districts in the coastal area fluctuate strongly, of which the largest are Nam Tu Liem, North Tu Liem, Ha Dong, Dong Anh. Received from trading on the secondary market.

Specializing in residential segment brokerage, Director of Ngoc Son Real Estate – Duong Van Minh said that in East England, most investors buy in large lots, then split into lots of small area for sale… Over the past year, the land near Nhat Tan Bridge, Dong Tru has a 30% price increase. In Ha Dong district, Tu Liem some areas near high railway or large infrastructure projects, the price increase in some places is up to 15-20%, equivalent to an increase of 5-10 million per m2. These are also the most active trading areas of the year.

Director of Real estate floor 24h, Nguyen Ngoc Quynh said in 2016, although the volume of products in the land segment was launched to market is not large, but the rate of absorption is quite good. In particular, some investor projects do not need to organize marketing campaigns, promote the project but still record transactions on a regular basis.

One of the reasons that liquidity in this segment is satisfactory is because the supply is not so big, so the market absorbs most of the products to market. Moreover, the projects sold at 2016 moderate prices, only from 1.5 to 3 billion per plot should be easy to attract funds.

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Land Price In Saigon – Hanoi Increased In 2016
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