Vietnam farm real estate prices plunge amid cooling investment trend

The farm and garden land real estate market in Vietnam is experiencing a significant downturn following the ‘leaving the city for the forest’ trend that peaked between 2020 and 2021. During that period, prices for forest and hill land in areas surrounding Hanoi, such as Soc Son and Ba Vi, as well as parts of Hoa Binh province, rose sharply, reaching up to 2 million VND per square meter.

Currently, the market has reversed. Many investors are attempting to sell at deep discounts, with some prices dropping by nearly 50% compared to their peak. Despite these price cuts, liquidity remains frozen as buyers struggle to find interest. Real estate brokers note that the speculative trend has faded, and modern investors are shifting their focus toward properties that meet actual residential needs rather than speculative ‘wave-riding’ investments.