15 suburban land lots in Ha Tinh auctioned with starting price of nearly 50 billion VND

15 land lots in Thach Vinh village, Toan Luu commune, Ha Tinh province are set to be auctioned, with the highest starting price for a single lot at around 5.3 billion VND.

On July 24, Hong Linh Partnership Auction Company announced it would coordinate with the People’s Committee of Toan Luu Commune to organize the auction of 15 land lots in the Loi Vai area, Thach Vinh village. The lots range in size from 200 square meters to over 288 square meters, with a total starting price of nearly 50 billion VND.

Among them, the largest lot of over 288 square meters has the highest starting price of over 5.3 billion VND, equivalent to about 18.5 million VND per square meter. The second-largest lot, measuring nearly 235 square meters, starts at over 4.3 billion VND. The remaining lots are 200 square meters each, with a starting price of nearly 3.1 billion VND, or about 15.5 million VND per square meter.

The auctioned land in the Loi Vai area is located near a resettlement area, about 7-8 km from Thanh Sen ward, the central ward of the province (formerly Ha Tinh City). Currently, the infrastructure in this area is incomplete, and some parts are still being used by locals for rice cultivation.

A leader of the Toan Luu Commune People’s Committee said that the land lots are close to the commune’s administrative center and occupy a favorable location. According to him, the starting prices were determined by a consulting firm after months of market research in the surrounding areas and across the province. The local government then agreed on the plan before approval to prevent budget loss.

According to a long-time real estate broker, land prices are determined by many factors, from location to feng shui and commercial potential. In the context of a relatively quiet real estate market in Ha Tinh, the starting prices of land lots in Toan Luu commune, where infrastructure is not yet synchronized, are quite high compared to the general market level.

According to the plan, Hong Linh Partnership Auction Company will accept registration dossiers until 5:00 PM on August 11. The auction is scheduled to take place on the morning of August 14 at the hall of the Toan Luu Commune People’s Committee. Participants will cast indirect ballots through an ascending-price auction. They must pay a deposit ranging from 929 million VND to over 1.6 billion VND per lot. Each price step ranges from 150 million to 265 million VND.

The auctioned land in the Loi Vai area, Thach Vinh village, Toan Luu commune. Photo: Hung Le

Previously, in September 2025, Toan Luu commune experienced a land fever after Ha Tinh province announced the planning of an industrial park spanning nearly 200 hectares. Land prices in some places increased by 30-40% in just one week, with many investors and brokers flocking to buy, sell, and transfer properties.

Local authorities at the time assessed that this was mainly speculation and short-term flipping, rather than coming from real demand. Functional forces fined a business over half a billion VND for creating a fake project and spreading rumors that disrupted the market, after which land prices here cooled down.

Toan Luu commune has an area of 60.65 square kilometers and a population of 18,784, formed from the merger of Ngoc Son and Luu Vinh Son communes. The area has many inter-regional transport routes, serving as a trade gateway between the plains and the western midlands, which is favorable for the development of agriculture, forestry, logistics services, and household economies.