Northern land plots take lead in interest level and land prices

Northern land plots take lead in interest level and land prices

The real estate market has shown strong signs of recovery following the Tết holiday, with significant increases in both search activity and land price nationwide in the first quarter of 2025.

Land plots in Hà Nội. In March alone, the number of searches for land increased sharply across major markets - by 52 per cent in the capital. —Photo dantri.com.vn

The most notable momentum, however, came from the northern provinces, according to data released by Batdongsan.com.vn, at its Q1 2025 Real Estate Market Overview event.

In March alone, the number of searches for land increased sharply across major markets - by 52 per cent in Hà Nội, 31 per cent in HCM City, and 54 per cent in other provinces - compared to February.

Among all property types, land plots in the North gained considerably, with interest rising by 50 per cent month-on-month. New listings for land also grew by 34 per cent, second only to private houses with a growth rate of 37 per cent.

Other property segments saw more modest increases in interest levels, including street-front houses (up 32 per cent), private houses (26 per cent), and apartments (15 per cent).

According to a survey for real estate brokers conducted by Batdongsan.com.vn, land plots were overwhelmingly seen as the top-performing segment in the first quarter of 2025.

About 44 per cent of brokers reported stable transaction volumes year-on-year, while 24 per cent observed a rise in activity compared to Q1 2024.

Price trends mirrored this demand. In March, land prices jumped by 42 per cent in Hà Nội, 7 per cent in HCM City, and an astonishing 67 per cent in other localities, compared to January 2023.

In Hanoi, buyers showed greater interest in suburban areas, while in HCM City, demand concentrated around more central districts.

The northern region dominated price growth, with Hưng Yên recording a 55 per cent increase in land prices over the past two years. Bắc Ninh followed with a 46 per cent rise, Hà Nội with 42 per cent and Hải Phòng with 21 per cent.

Meanwhile, southern provinces such as Đồng Nai and Bình Dương saw more moderate gains of 30 per cent and 25 per cent respectively, while HCM City prices edged up just 5 per cent.

"Different performance in land prices between the North and the South remains pronounced," said Đinh Minh Tuấn, who is the southern regional director of the real estate trading platform.

"Land prices in the North show greater variability and higher growth than in the South."

Only districts neighbouring HCM City saw noticeable increases in land interest, but prices remained relatively stable. In contrast, the North experienced strong demand and significant price hikes.

Hải Dương topped the list with a staggering 100 per cent increase in land prices since January 2023, followed by Bắc Giang, 80 per cent, and Hưng Yên at 75 per cent.

In the central provinces, land along the coastal areas of Quảng Nam, particularly areas near Đà Nẵng, saw heightened interest. Đà Nẵng itself recorded robust price growth, with Cẩm Lệ district up 80 per cent, Liên Chiểu by 75 per cent, and Hòa Vang by 50 per cent.

The announcement of potential provincial mergers sparked further interest, especially in northern provinces like Hưng Yên, Vĩnh Phúc, Ninh Bình, Thái Bình and Bắc Ninh.

Other areas that drew attention include Đà Nẵng, Quảng Nam, Quảng Bình, Quảng Trị, Bình Dương, and Bà Rịa - Vũng Tàu.

The deputy general director of batdongsan.com.vn, Nguyễn Quốc Anh, advised investors to remain cautious amid the surge.

“When evaluating investment opportunities linked to potential provincial mergers, one must consider broader factors - economic growth, infrastructure development, governance and cultural compatibility,” he said.

He warned against speculative behaviour based solely on short-term price spikes.

“Real estate value only appreciates sustainably when backed by genuine improvements in local economies and investment environments. Strategic, data-driven decisions aligned with regional development will help investors minimise risks.”

As Việt Nam’s real estate market continues to heat up, particularly in the North, all eyes will be on whether this trend can maintain its momentum into the rest of 2025. 

Bizhub