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The wave of real estate auctions poured into Me Linh, how is the regional market going?

In recent years, the real estate market in Me Linh (Hanoi) has become a bright spot in the eyes of investors. However, the history of this area has many projects lying on the ground for many years. Therefore, investors who “set foot” here will prioritize real estate with clear legality.

The wave of real estate auctions poured into Me Linh, how is the regional market going?  - Photo 1.

Recently, Housing and Urban Development Investment Corporation – Limited Liability Company announced the opening and sale of 202 low-rise houses in the future under the Thanh Lam – Dai Thinh 2 New Urban Area Project. , Me Linh district, Hanoi.

Accordingly, 202 low-rise houses with rough construction and finished exterior will be formed in the future associated with the right to use residential land with infrastructure. In which, 56 detached villas, total land area 21,087m2, total floor area 18,711.6 m2; 26 semi-detached villas, group land area 6,577m2, total floor area 8,136.6 m2; 120 garden houses, total land area 13,675m2, total floor area 28,342m2.

Type of garden house with area of ​​102 – 159m2, starting price ranges from 4,188 – 8,327 billion VND; duplex villas area from 210 – 305.5 m2, starting price ranges from 7,716 – 13,123 billion VND; Single villas area from 362 – 410m2, starting price ranges from 11,988 to 18,894 billion VND.

17 land plots at point X1, Yen Vinh village, Thanh Lam commune, Me Linh district were also auctioned here. Specifically, the total area is 1,858.9 m2, the area from the lot ranges from 87.75 – 171.67 m2, the starting price is from 27.1 – 35.2 million VND/m2. Deposit in advance from 450 – 650 million VND / application to participate in the auction.

The wave of real estate auctions poured into Me Linh, how is the regional market going?  - Photo 2.

Since the beginning of 2021, Me Linh real estate has reversed continuously. In early 2021, many real estate brokers spread the news that Me Linh was about to receive a series of “billion-dollar urban” projects. This makes the real estate market in Me Linh district increase rapidly.

Specifically, during that period, in Tien Phong commune, around the Cienco 5 project area, the price of residential land increased from 15 – 23 million VND/m2, increased to 21 million – 40 million VND/m2.

Even projects that have been “matted” for many years, weeds are overgrown, but thanks to rumors about planning, the value also increases from 40% – 70%. For example, at the townhouse projects in Diamond Park, Me Linh New City, Me Linh Vista… increased to 20 – 23 million VND/m2 (October 2021, up to now, it has continued to increase to 30 million VND/m2 (October 2021). VND/m2, equivalent to 40 – 50%.

After a time when the real estate market in this area was quiet, by October 2021, Me Linh was in Hanoi’s plan to move to the city in the next 5 years, the market had a chance to wave again. Recently, in the new Resolution 15 of the Politburo on directions and tasks to develop Hanoi capital until 2030, with a vision to 2045. In which, it is noteworthy that the content determined to build a city directly under the capital city. Hanoi capital in the north (Dong Anh, Me Linh, Soc Son) and the west (Hoa Lac, Xuan Mai).

Therefore, the market in Me Linh area is becoming the focus in the eyes of investors. According to Mr. Nguyen Thanh – a broker in this area, in the past 3 days, the number of investors looking for and asking for information about projects in Me Linh has skyrocketed.

“The price of the current land plots has reached 50 million VND. In which, the land plots on Dai Thinh street are also priced from 45-50 million VND/m2. However, people also want to benefit, so they keep the land to push the price up,” Thanh said.

According to this broker, at present, the land on the road through Thanh Lam commune, Kim Hoa commune and the road to Quang Minh industrial park – Chi Dong town is also asked by many investors.

The wave of real estate auctions poured into Me Linh, how is the regional market going?  - Photo 3.

According to the survey, currently the project land in Me Linh is ranging from 20-40 million VND/m2. In recent years, this market has recorded a bright spot as auction land when many land plots have won 2 or even 3 times higher than the starting price. Because in this market, there are many projects that have been “underground” for many years, so when “set foot” in Me Linh, investors are very careful in legal matters.

The land price of some projects in Tien Phong commune fluctuates between 20 – 30 million VND/m2 depending on the location. For example, a land plot in the Cienco 5 project in Tien Phong commune, a land lot of 100m2 is offered for sale at only 24 million/m2, but besides that, Ha Phong urban area with better infrastructure and legal status is priced at 30 – 40 million VND/m2.

According to Mr. Nguyen Trung – real estate broker in Me Linh, since there is information to publish on the street (October 2021), the number of people flocking to this district to ask to buy land has also increased. However, the rate of successful transactions is still not much.

As for land prices, Mr. Trung said, since the Lunar New Year in Me Linh, there have not been many changes, mainly increasing in projects with clear legal status and residential land.

“In fact, land in Me Linh has increased many times, every time there is new information, investors come here to ask a lot, naturally the price of land fluctuates a bit,” said Trung. .

The wave of real estate auctions poured into Me Linh, how is the regional market going?  - Photo 4.

Chairman of the Ho Chi Minh City Real Estate Association (HoREA) – Le Hoang Chau acknowledged, in the story of Ho Chi Minh City. Hanoi plans to bring 3 districts including Me Linh to the city quite similar to the story of the city. Test Germany (HCMC) in the previous period.

Le Hoang Chau analyzed, around mid-2020, the real estate market in Thu Duc (before going to the city) appeared a situation of speculation that pushed prices up, causing many people to dream and then disillusion.

“Thu Duc has just been approved for the general planning task, which means it is still in the planning process but has not yet been approved, so it is not possible to have an integrated shape of the city. Thu Duc in the future, but many people hastily poured money into investment even though they do not know the specific planning picture,” said Chau.

The wave of real estate auctions poured into Me Linh, how is the regional market going?  - Photo 5.

As for the localities that are not from the district to the city, but directly from the district, this shows that the infrastructure of these areas is not up to urban standards, so they are called districts. To build according to the city’s plan is still a long process.

When going to the city, it is inevitable that the price of land will increase because urban land is always higher than rural land, which is an inevitable rule. It is easily used by storks to cause land fever, at least localized land fever in those localities.

According to Mr. Chau, the localities in the planning area need propaganda work so that people understand and avoid being sucked into the local land fever. If soil fever occurs, it will have a negative impact, because soil fever is considered an obstacle to the development process. Because when the price of land increases, the compensation for infrastructure projects will also increase, in addition, it is also a pressure on people when the cost of living will be more expensive. If not carefully calculated and prevented early, it will put a lot of pressure on the city’s budget.

In the face of a new wave of real estate emerging in localities like Me Linh, Mr. Chau recommends that investors be alert and have to carefully survey the infrastructure.

“If you want to get ahead, you must base yourself on the planning, but if you are not familiar with the planning, you also need to know how the direction in the area you want to invest will be. If you don’t understand that, investors will easily become blind at night,” Mr. Chau advised.

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