Land auction market in Nghe An is bustling right from the beginning of the year

Specifically,Provincial Property Auction Service Center(Department of Justice) successfully auctioned 20 planned land lots at Dong Cay Mung (phase 4) Van Son commune, Do Luong; 15 land lots at Ma Phu 1 and Ma Phu 2 planning areas, Van Son commune, Do Luong; 22/24 land lots at Tan Hong block planning area, Nghia Dan town, Nghia Dan district and 14 lots in the planning area west and east of longitudinal road 2, Nghi Hoa ward, Cua Lo town.

Mr. Nguyen Ngoc Minh - Director of the Provincial Property Auction Service Center (Department of Justice) said: The results of the land auctions at the beginning of the year show a positive signal for land auctions this year when more people participate in the auction. Accordingly, the planning area in Tan Hong block, Nghia Dan town sold 112 participating documents/24 lots; the planning area in Yen Son commune has 170 participating documents/15 lots; the planning area in Van Son commune has 169 participating documents/20 lots; the planning area in Nghi Hoa ward has 70 participating documents/14 lots. Although there are signs of improvement, it is not yet possible to confirm how the land auction market will be in the coming time and it is hoped that this positive momentum will be maintained so that land auctions will be more favorable.

In fact, due to the large number of participants in the auction, the auction results were quite high, with each lot after the auction increasing by 300-500 million VND compared to the starting price; in particular, there was a land lot in the planning area of ​​Nghi Hoa ward, after the auction the difference compared to the starting price increased by over 1 billion VND (from 3.465 billion VND to 4.468 billion VND).

In total, 4 planning areas, after auction, exceeded the starting price by 28.4 billion VND, of which Van Son (Do Luong) exceeded 8.908 billion VND; in Yen Son commune (Do Luong) exceeded 8.359 billion VND; in Tan Hong block, Nghia Dan town exceeded 3.832 billion VND and in Nghi Hoa ward (Cua Lo town) exceeded 7.309 billion VND.

An organizing officer participating in the above auctions added: The reason why the above planning areas have many participants is supported by positive information. For example, Van Son and Yen Son communes are associated with the Do Luong planning, which is about to be recognized as a town, while in Tan Hong block, Nghia Dan town, based on the successful results of the first auction in 2023, this year it has attracted investors.

For the 14-lot planning area in Nghi Hoa ward, Cua Lo town, which was put up for auction in 2023 but the documents could not be sold, now due to the Urban and Entertainment Area project ofVingroup Corporationright next to the restart has had a positive impact on investor sentiment.

It is known that in 2023, through signing 275 contracts with a value of VND 2,334,157 billion in localities and units, the Property Auction Service Center under the Nghe An Department of Justice successfully auctioned 243 contracts with a starting value of VND 1,510,477 billion, auction value of VND 1,816,525 billion, exceeding the starting price of VND 306,047 billion, the increase rate compared to the starting price reached 20.26%./.