The land prices in many areas of Hanoi have sharply decreased from their peak levels, with some locations witnessing reductions of up to 50%. This decline is particularly noticeable in regions that were once hotspots for land speculation in 2025, such as Dong Anh, Me Linh, Quoc Oai, and the area near Hoa Lac.

Data from Batdongsan.com.vn, updated until early October 2026, indicates that the average price adjustment ranges from 8% to over 30%, with some areas experiencing declines as steep as 50%. For instance, the Minh Giang Dam Urban Area in Me Linh reported the most significant drop, reaching 50%. Other locations like Cienco 5 Me Linh, Yen Xuan, Phu Cat, and Dong Anh also saw reductions exceeding 20% from their peak prices.

However, the price changes are not uniform across the board. In certain areas, despite the decreases, prices remain higher than those recorded in the same period last year. Nguyen Van Nam, a real estate agent in Hanoi, noted that while prices in some previously high-demand areas have adjusted significantly, buyers are now more cautious and less willing to accept high prices as they once did. "Areas where prices surged rapidly due to speculation are now facing larger adjustments, while locations with solid infrastructure and existing populations tend to maintain more stable prices," he explained.

Despite these adjustments, buyer sentiment remains cautious. Clients are increasingly focused on legalities, location, potential for development, and the actual market prices of comparable properties in the same area. "Even though listed prices have dropped considerably, liquidity remains sluggish. Sellers of properties still priced high often have to lower their prices further or negotiate to attract buyers," Nam added.

Dr. Nguyen Van Dinh, Vice President of the Vietnam Real Estate Association, commented that the tightening of legal regulations and the control of land subdivision sales, along with demands for transparency in planning information, have contributed to a decrease in speculative short-term transactions, helping the market stabilize. He noted that the previous rapid price increases were partly driven by excessive optimism regarding infrastructure planning and information related to major projects. As these factors are reviewed and verified, the market must adjust to reflect true values.

These developments indicate that the land market is entering a phase of correction, while the cautious mindset of buyers continues to affect liquidity.