Brian Jeffrey
The latest land price update from Hanoi reveals that the West West Lake Urban Area in Tay Ho District now has the most expensive real estate in the city, valued at over $4,630 per square meter (113 million VND/m²).
This price is for the prime sections along the 60-meter-wide roads in Tay Ho and signifies a 225% increase from 2019’s value of $1,425/m² (34.8 million VND/m²).
In the same region, land prices on 60-meter-wide roads in Bac Tu Liem District are nearly $4,420/m² (108 million VND/m²), which is a rise of 210%.
In total, five areas in Hanoi exceed $4,100/m² (100 million VND/m²) for prime land along major roads:
1. West West Lake (Starlake): $4,630/m² (113 million VND/m²) in Tay Ho, $4,420/m² (108 million VND/m²) in Bac Tu Liem.
2. Nam Trung Yen Urban Area: $4,480/m² (109.3 million VND/m²) on 40-meter-wide roads.
3. Thanh Pho Giao Luu (City of Exchanges): $4,170/m² (104.3 million VND/m²) along 50-meter-wide roads.
4. Diplomatic Corps Urban Area (Doan Ngoai Giao): Nearly $4,420/m² (108 million VND/m²) on 60-meter-wide roads.
5. My Dinh – Me Tri Urban Area: $4,170/m² (101 million VND/m²) along roads of 20–30 meters wide.
Suburban urban areas have seen land prices soar with increases ranging from 175% to 200%. For example, the Lideco Urban Area in Hoai Duc District increased from $763/m² (18.8 million VND/m²) to nearly $2,218/m² (54.7 million VND/m²), reflecting a surge of almost 190%.
On the other end of the spectrum, the area with the lowest prices in Hanoi is the Phu Thinh Residential Area in Son Tay Town, where land is priced at $461/m² (11.38 million VND/m²), representing a 175% increase.
Nevertheless, the actual market prices in these urban zones are often much higher, sometimes 3 to 4 times above the listed values.
In the West West Lake Urban Area, villas and townhouses average between $14,300 and $16,300/m² (350–400 million VND/m²), while apartment prices start at over $4,100/m² (100 million VND/m²).
Some upscale villas in the area command prices over $20,400/m² (500 million VND/m²).
Hong Khanh
