According to Lao Dong reporters, old collective housing areas in Hanoi such as the old collective housing areas of Nghia Tan and To Hieu (Cau Giay district)... after decades of use have deteriorated, with many tiger cages being sold at expensive prices.
Posting an ad for sale of an old apartment building on To Hieu Street (Cau Giay District) for 4.7 billion VND, Mr. Tran Van Hieu shared that because he no longer has a need to use it, his family is selling and transferring the apartment building on the 2nd floor, which can be used for living or for rent.
According to Mr. Hieu, the apartment for sale has an area of about 120 square meters, the selling price is 4.7 billion VND, equivalent to more than 39 million VND/square meter. The house has 3 bedrooms, a red book in the owner's name, a 4 meter wide frontage, and the tiger cage extension is about 40 square meters wide. The buyer can use it to live in or rent it out monthly.
Similarly, Ms. Nguyen Thi Xuan (who wants to buy an old apartment building in Nghia Tan, Cau Giay district) shared that in early July 2024, she was taken by a broker to see an old apartment building with an area of 90 square meters, priced at 4.5 billion VND, equivalent to 50 million VND/square meter.
However, what surprised Ms. Xuan was that after only 1 month, the price of the apartment building she had visited in Nghia Tan apartment complex had been raised to 4.6 billion VND, an increase of about 100 million VND because it was located in the central area, had convenient transportation, and had many amenities...
However, according to Lao Dong reporter's research, although the selling price has been pushed up quite high, there is still no data on the actual transaction volume of the old apartment segment in Hanoi.
Some real estate experts also note that it is not uncommon for homeowners to advertise very high prices to attract the attention of those in need, or to create a virtual price level.
Referring to this content, experts from the OneHousing real estate ecosystem informed that old collective houses in Hanoi have the advantage of being located in the center of the capital.
When looking to buy in this segment, many people need to pay attention to the quality of the building and the area of the apartment after expansion compared to the actual area on the red book.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - commented that the reason why the old apartment segment in Hanoi has recently attracted many people's attention is because it is located in central locations of Hanoi, sought after because of the scarce supply of housing and new apartment projects.
Mr. Nguyen Van Dinh said that buyers of old apartment buildings also need to pay attention to the actual area and the expansion area when closing the transaction. Because during their stay, many households have expanded "tiger cages, bird cages" of tens of square meters, leading to many risks of fire and explosion.
