200 m2 rural land plot sold for 4.6 billion VND "heats up" the real estate market in Quynh Luu

Recently, in 2 days from July 21 to 22, Son Hai commune organized an auction of 27 residential land lots in Dong Chua area, hamlet 3 with a total starting price for these 27 land lots of 33 billion VND.

A corner of Son Hai commune (Quynh Luu) has just organized an auction of land use rights with 27 lots, in which the highest lot has a price of nearly 4.6 billion VND. Son Hai town develops with many industries, mainly fishing, services... High-rise buildings are built close together along National Highway 48B. Photo: Viet Hung

Notably, this auction attracted 930 sets of documents with more than 2,000 participants, the largest scale ever in the district. After having the documents, the participants in the land auction deposited money from 150 - 400 million VND, depending on the number of lots.

After 1.5 days of hard work by the District Auction Council, local authorities and companies, 26/27 lots were successfully auctioned with a total value of over 54 billion VND. On average, each lot had a bid price 50% higher than the starting price. Of which, lot number 16 had the highest bid price of nearly 4.6 billion with an area of ​​200 m²; the lowest lot is paid for 1.5 billion VND.

In particular, lot number 23 had a starting price of only 800 million VND, but through auction, this lot was paid up to 3.3 billion VND, which is 400% higher than the original.

Mr. Tran Van Hung - Chairman of Son Hai Commune People's Committee said: The auction in the commune was successful, out of 27 lots, 9 lots were on the road. These are the lots with a large number of applications, especially lot 23 with up to 81 registrations.

Not only Son Hai is "hot" in terms of land prices, many other localities in the district such as Quynh Hong, Quynh Hung, Tien Thuy, Quynh Long are also equally exciting.

More than a month ago, Quynh Hong commune organized an auction of 43 plots of land in the Kapok tree area, hamlet 6; total area of ​​more than 8,500 m², starting price over 70 billion VND. Due to high demand from buyers, the auction was quite exciting. As a result, all 43 plots were successfully auctioned, with the highest price being over 4.8 billion VND/plot, the lowest being over 1.3 billion VND/plot.

Every time the localities in the district organize land auctions, many people return to participate. In the photo: Land auction in Quynh Hong commune. Photo: Le Nhung.

Mr. Ho Nghia Duong - Chairman of Quynh Hong Commune People's Committee said that up to now, people and local people could not have imagined that the price of residential land would be so high. All the land lots were successfully auctioned, some lots were auctioned for nearly 5 billion VND, the price difference with the market price of residential land among the people was 100%.

Since the beginning of the year, Quynh Luu district has successfully auctioned 195 residential land lots in 10 localities including Quynh Ngoc commune (14 land lots), Quynh Hung (14 land lots), Quynh Hoa (60 land lots), Quynh Thach (10 land lots), Quynh Ba (5 land lots), Quynh Lam (10 land lots), Quynh Van (11 land lots), Quynh Doi (2 land lots), Quynh Hong (43 land lots) and Son Hai (36 land lots). The total auction winning amount is 218 billion VND.

Dozens of plots of land are planned for auction in Hamlet 3, Son Hai Commune. Photo: Viet Hung

Mr. Dao Xuan Son - Head of the Department of Natural Resources and Environment of Quynh Luu district, member of the district's Land Auction Council, said that from now until the end of 2018, 3 localities will organize land auctions with nearly 100 lots. In order for the auction to be successful and to avoid land brokers, the district has proposed many solutions such as: Only allowing those participating in the auction to enter the area; coordinating well with the district police to ensure security and order during the auction; grasping the market land prices to work with the district's Auction Council and the company to reduce loopholes for land brokers./.