According to Lao Dong reporters, despite their current state of disrepair and dampness, many old apartment buildings in Kim Lien, Trung Tu (Hanoi) have recently been sold for 4-5 billion VND/unit, surprising many people.
Mr. Nguyen Van Minh (born in 1979, living in Kim Lien apartment complex, Dong Da district) informed that recently, many people are looking to buy Kim Lien apartment complex at expensive prices, equal to apartments, even though this apartment complex has been in use for decades and has many signs of deterioration.
According to Mr. Minh, around the apartment complex there are markets, kindergartens, Kim Lien Primary School, Dong Da Secondary School, Kim Lien High School, hospitals, and full living facilities. Because it is located in the inner city, if people buy a house here but do not have a need to live there, they can still rent it out for about 6 - 7 million VND/month.
"Many old Kim Lien collective houses with a registered area of 40m2 and a usable area of 100m2 are being sold for nearly 5 billion VND/unit. Although they were built and put into use decades ago, old collective houses are still attractive and sought after by many people because they are located in the center of Hanoi, have full surrounding amenities, and are close to parks and schools," said Mr. Minh.
Similarly, Ms. Trinh Thi Hoa (owner of the old Trung Tu apartment building, Dong Da district) shared that because she no longer needs to use it, her family is urgently selling the apartment building.
According to Ms. Hoa, the apartment for sale has a usable area of about 80 square meters, with a selling price of 4.7 billion VND, equivalent to 59 million VND/square meter. Although located in an old apartment complex, Ms. Hoa said that it is rare to find a house that is airy and can be used for both living and renting.
However, according to Lao Dong reporters' research, although the advertised selling price has been pushed up quite high, there is still no data on the actual price and transaction volume of the old apartment segment in Hanoi.
Many real estate experts say that with old apartment buildings in central districts of Hanoi such as Dong Da, Thanh Xuan, Cau Giay, buying, selling and liquidating are often very easy and quick, which is also one of the reasons why housing prices in these areas are often pushed up very high.
Referring to this content, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club also noted that although the segment is located in the center of Hanoi, when buying and selling old collective houses, buyers need to pay attention to the actual area.
Because, during their stay, many households have expanded the tiger cages to dozens of square meters, reducing the value when the owner wants to transfer.
Buyers should also note that renovations and expansions are common in old apartment buildings, causing the area in the red book to often be much smaller than the area advertised for sale.
