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Eating according to the plan, the land along the Red River has increased in price

Land prices are constantly “rising hot”

The approved official project not only opens up a good opportunity for the process of building the capital in a new phase for socio-economic development, but also creates a great impetus for the real estate market along the two sides. by the shore Hong river. However, the increase in real estate prices in many places “following” this project is causing the market to have a “virtual” phenomenon, far away from the real value.

According to the survey, some places along the Red River such as Tay Ho, Dong Anh, Gia Lam, Thanh Tri… have experienced many waves of “fever” of the land. Currently, real estate prices in the above locations have increased much higher than about a year ago.

Eating according to the plan, the land along the Red River has increased in price - Photo 1.

Land along the Red River has had many price increases according to planning information. (Photo: Ha Phong)

For example, in Dong Du commune (Gia Lam district), the price of residential land in a residential area adjacent to the village road about 2-3 m wide is being offered for sale at the threshold of VND 40 million/m2, an increase of 25% compared to the price in 2021. The area adjacent to the Red River dyke, Tu Hiep commune (Thanh Tri district) is for sale for 50 million VND/m2, while a year ago it was about 35-40 million VND/m2.

Similarly, the communes of the Red River urban subdivision such as Hai Boi, Vinh Ngoc, Xuan Canh… (Dong Anh district) the selling price is also in the range of 30 million VND/m2 to 50 million VND/m2, depending on location. mind.

Nguyen Van Nam, a real estate broker in Hanoi, shared that over the past time, real estate speculators have been constantly hunting for information about areas along the Red River. Taking advantage of this great demand, a large number of “storks” of land are also ready to “explode” information for sale from residential land, agricultural land, alluvial land along the river.

“Some land near riverside alluvial flats in Xuan Canh commune (Dong Anh district) has continuously increased in price. There are areas before and after the announcement of the planning project, the selling price difference is 10% to 10%. 25%,” said Mr. Nam.

According to Mr. Nam, it is worth mentioning that a lot of land investors from all over the country are flocking to this area. The main form of investment is speculation, surfing…

Just a rumour?

Real estate in the areas along the Red River has increased significantly compared to 1-2 years ago, and is now rumored to increase sharply. But according to the local management agency, after Hanoi City announced the urban planning project along the Red River, the price of land in the area through transfer documents has remained stable, not yet recorded a sharp increase in price.

“Before the project was announced, land in some riverside areas in the district was pushed to a fairly high level. Through the transfer documents, we see that the land price is still equal to the end of the year. Last year, early this year, there was no place where the price increase was as strong as rumored,” said Head of the Dong Anh District Department of Natural Resources and Environment Hoang Anh Tuan.

On the other hand, the urban planning project along the Red River and Duong River has been approved, but this has only been approved at the scale of 1/5000. In order to put it into operation, it is necessary to continue researching and making detailed planning for the city. each area to suit actual conditions.

Many investors believe that investing in “surfing”, putting money down according to planning information or fever will face many risks. Because the planning project along the Red River is still waiting for detailed planning and construction of other technical and transport infrastructure, real estate has not been able to make a quick profit.

The investment in real estate along the Red River serves very little real and long-term demand, so the price will only increase for a while and then quickly return to the old level. Therefore, investors need to be alert to information about planning, virtual fever, because many investors have been engulfed in “virtual land fever” or by information according to planning,” said Nguyen. Van Dinh – Chairman of Vietnam Real Estate Brokers Association shared.

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