In Vietnam, the land market is witnessing a dramatic decline in prices, particularly in areas that previously experienced rapid growth. Recent data from Batdongsan.com.vn indicates that some regions have seen price reductions exceeding the average market decline.

For instance, in Vinh Tien commune, formerly Kim Boi district and now part of Muong Dong in Phu Tho province, land prices in the first quarter of 2026 were around 5 million VND per square meter, a staggering 75% decrease from the peak of 20 million VND per square meter recorded in the third quarter of 2025.

Similarly, in Kim Boi commune, the average land price fell to 5 million VND per square meter in the second quarter of 2026, down 61.5% from its peak of 13 million VND per square meter in the same period of 2025.

The trend of price reductions is not limited to Phu Tho. Areas surrounding Hanoi are also experiencing significant declines, with some locations reporting drops of up to 50% from their peak prices. For example, in Minh Giang Dam Urban Area, located in Tien Phong commune, the average land price in the second quarter of 2026 was approximately 30 million VND per square meter, which is a 50% decrease compared to the previous year and down from a peak of 60 million VND per square meter in the fourth quarter of 2025.

In Cienco 5 Mê Linh Urban Area, land prices in June 2026 were around 41.5 million VND per square meter, reflecting a 31.1% decrease from the peak of 60.2 million VND per square meter noted in August 2025.

Moreover, in Uy No commune, now part of Dong Anh district in Hanoi, the average land price in June 2026 was about 133 million VND per square meter. Although this represents a 25.5% increase compared to the previous year, it has decreased by 23.1% from the peak of 173 million VND per square meter recorded in February 2026.

The ongoing decline in land prices is part of a broader trend affecting the market. According to the Ministry of Construction, land prices in the secondary market dropped by approximately 2-3% in the second quarter of 2026 compared to the first quarter.

Alongside the price drops, market liquidity has also significantly weakened. The second quarter of 2026 saw 73,438 successful land transactions, which is only 67.4% of the transactions recorded in the first quarter of 2026 and 59.9% compared to the same period in 2025.

The primary reasons for this decline include reduced liquidity, high capital costs, and a shift in investor interest toward products with clear legal status and stable potential for utilization.

On a national scale, the average asking price for land has decreased by approximately 2.5%, settling at around 40 million VND per square meter. In Ho Chi Minh City, prices have dropped nearly 3%, averaging around 66 million VND per square meter, with many project prices seeing reductions of 3-6% compared to the previous quarter, especially for high-value products under pressure to sell.