Land auction activity in Yen Thanh is showing signs of renewed vibrancy.
(Baonghean.vn) - For a long time, the real estate market was sluggish, and interest in land auctions decreased significantly. However, in the first months of 2024, land auctions in Yen Thanh district have started to pick up again.
On January 31st, Dong Thanh commune, Yen Thanh district, held a meeting.auction of land use rightsObservations show that, in contrast to the previously subdued atmosphere, the place is now quite lively, with the hall almost completely filled with bidders.
The auction was conducted using an indirect bidding method with ascending bids. 14 land plots in the Xeo Co Long Nam planning area were put up for auction, with 64 applications submitted. Of these, 10 plots were successfully auctioned for 7.8 billion VND, while 1 plot was auctioned invalidly, and 3 plots did not have submitted applications.
Accordingly, the average starting price for plots in row 2 was 560 million VND/plot, reaching 930 million VND/plot after the auction. One plot located in row 1, adjacent to National Highway 48E, had a starting price of 1.2 billion VND/plot, reaching 1.9 billion VND/plot after the auction.
Some residents participating in the land auction shared: At the end of the year, they received money from their children who had worked abroad, and since bank savings offered low interest rates, they boldly invested in real estate.
Mr. Ngo Van Tuan, Chairman of the People's Committee of Dong Thanh commune, said: After a long period of low participation in land auctions, the recent auction was very successful. In 2024, the commune will continue to auction over 40 land plots in the planned area.
According to a representative from the Yen Thanh District People's Committee: From the beginning of 2024 until now, Yen Thanh district has successfully auctioned off 31 out of 46 land plots in three communes: Minh Thanh, Vien Thanh, and Dong Thanh. From now until the end of 2024, the district will organize auctions for over 150 more land plots.
Despite the challenges facing the real estate market, land auctions remain attractive in areas with clear legal status, well-developed infrastructure, proximity to city centers, dense populations, and reasonable prices. Furthermore, the large amount of remittances received during the Lunar New Year (Year of the Dragon), coupled with currently low bank interest rates, has led many people to choose real estate as an investment option.
