Developing farmsteads fashionable among Hanoi’s “big guys”

Rich people and “big guys” in Hanoi are rushing to purchase large plots of land in suburban areas to develop farmsteads. It is so cramped and congested in the inner city that rich people are searching for places in suburban areas for them to relax.

The landlords

N.T.L, Deputy Director of a big media company in the north, related that two years ago, he purchased two hectares of forest land in Hoa Binh province at 70 million dong per hectare. Now many people are asking him to resell the land to them at 700 million dong per hectare, but L does not wish to sell.

Instead, L and his wife have decided to develop a farmstead on the land. L hires local farmers to grow trees and breed fowls and pigs. Farmers get 70 percent of the profit, while L’s family gets 30 percent.

“I know many people, who live and work in the inner city, but they also have farmsteads in the suburb areas,” said Nguyen Thu Hang, Head of the IT division of a transportation joint venture headquartered in Nhan Hoa-Nhan Chinh new urban area.

Hang related that two years ago, before the former Ha Tay province was merged into Hanoi, she purchased some thousands square meters of land in Luong Son district in Hoa Binh province. Of course, the land was dirt cheap at that time. After that, she dug a pond to breed fish and built a house. A lot of local residents asked for her permission to stay at the house and help her grow trees and breed fish.

Developing farmsteads is fashionable

On weekends, local residents in communes along the Noi Bai-Lao Cai highway in Vinh Phuc province can see a lot of cars coming from Hanoi.

Tran Van Hung, a farmer from Huong Dao Commune in Tam Duong district, shared that he sold 1080 square meters of land to a person from Hanoi at 300 million dong per 360 square meters. The buyer said that he purchased the land to develop a farmstead.

Nguyen Thang, the buyer, said that he feels happy with the purchase. “With just 900 million dong, I can have more than 1000 square meters of land,” he said.

“I think the price is reasonable, because it is just 60 kilometers away from Hanoi. I do not have to spend much money to have a place where I can relax on weekend. Meanwhile, the land price has been escalating day by day, because developing farmsteads is now a trend among office workers in Hanoi,” he continued.

In Hanoi, PNP has a reputation as a “big farmstead guy”, who many journalists know, because he owns a majority of the land in rural areas which are just 70 kilometers far from Hanoi. T related that he has been investing in the real estate sector for about five years.

Four years ago, he purchased a land plot with a hill and stream in Minh Tri commune in Soc Son district at 120,000 dong per square meter. Now the land plot is just 200 meters far from the Minh Phu golf course, and there is a road for vehicles. He sold the 3600 square meter plot sold to a businessman from Hanoi, who said he also plans to develop a farmstead.

“Any land plot located within 70 kilometers far from Hanoi that hasa price of 2-3 million dong per square meter will attract me. If the land plot has “so do” (land use right certificate), I will buy the land immediately,” T said.

He added that the demand for land in suburb areas is rising, because many famous individuals like singers or artists, are seeking to purchase land in the areas. The people choose rural areas as the place for them to live, and relax on weekend.- Tien phong