According to Lao Dong reporters, despite their current state of disrepair, old apartment buildings in Nghia Tan and Kim Lien (Hanoi) are being advertised by many owners for more than 3 billion VND/unit.
Mr. Nguyen Van Binh (46 years old, living in Nghia Tan apartment complex, Cau Giay district) said that the information about renovating and rebuilding old apartment buildings in Hanoi is attracting the attention of many people.
Accordingly, at the end of 2024, the price of collective houses here fluctuated between 45-47 million VND/m2, but so far the price has been advertised at 50-60 million VND/m2.
Similarly, many old collective houses with a book area of 50m2 and a usable area of 70m2 in Kim Lien (Dong Da district) are being offered for sale by their owners at 2.6 billion VND, equivalent to more than 50 million VND/m2. A collective house of only 35m2 is also being offered for sale at 2.4 billion VND, equivalent to 70 million VND/m2.
According to local residents, despite the current state of expanding the tiger cages, Kim Lien apartment buildings are being sold at an average price of 50-70 million VND/m2, even houses on the first floor, convenient for business and trading, are being offered at prices of 80-100 million VND/m2.
Many real estate experts in Hanoi also commented that although built decades ago, old apartment buildings are still attractive when located in the center of Hanoi, with full surrounding amenities, near parks and schools.
Real estate service provider Savills Hanoi recently analyzed that in the context of rising housing prices, the real estate market is witnessing an imbalance between demand and supply of apartments, especially for products in the affordable segment.
Therefore, old collective apartments in Hanoi with a moderate area, located in the inner city, are a choice of many people, causing this segment to recently receive attention.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented 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 tiger cages of tens of square meters, reducing the value when the owner wants to transfer.
According to Mr. Nguyen The Diep, buyers need to pay attention to the common renovation and expansion in old apartment buildings in Hanoi, causing the actual area in the red book to be much smaller than the area for sale.
