Shocked by private house prices in Hanoi, exceeding 200 million VND/m2
According to Lao Dong reporters, many private houses in alleys in central districts of Hanoi have recently been advertised for sale at expensive prices. There are even houses in narrow, narrow alleys being advertised for sale at prices exceeding 200 million VND/m2, depending on the area.
For example, a private house in an alley on Dao Tan Street (Ba Dinh District) with an area of 31m2 is being advertised for sale by its owner for 8.35 billion VND, equivalent to 269 million VND/m2.
In another case, a private house with an area of only about 22m2 in Phan Ke Binh Street (Ba Dinh District) is being offered by its owner for 5 billion VND/unit, equivalent to 227 million VND/m2. See more
The demand for land plummeted in 3 districts in Hanoi
Research by Lao Dong reporters shows that recently, many investors have tended to look to suburban districts of Hanoi to look for plots of land with prices ranging from 2-3 billion VND/plot.
Mr. Nguyen Van Linh (60 years old) - a real estate investor in Long Bien district, Hanoi - said that the land segment here is in the focus of many investors.
Mr. Linh analyzed that the price of real estate in the inner city is "at the peak", causing investors to shift their direction to buy real estate in the suburbs of Hanoi, including the land segment.
Many investors have even spent time looking for plots of land with selling prices from 2-3 billion VND/plot to live or wait for land prices to increase over time.
Many real estate experts in Hanoi have recently commented that the demand for land in suburban districts of Hanoi is gradually improving. In particular, the residential land segment in some districts far from the center of Hanoi is having cheap starting prices and high profit potential. See more
Housing prices are too high, people are cautious about borrowing from banks to buy a house
Every day when I come back from work, I have to struggle to live in a 20m2 rented room in Phu Do, Nam Tu Liem District (Hanoi), making Mr. Do Van Tung (32 years old) and his wife feel suffocated and tired.
Mr. Tung shared that the rental house he is renting has never been considered a real house. Both husband and wife are saving and borrowing to buy a house even though it is far from the center.
However, the increasingly high housing prices are causing Mr. Tung to gradually disappear his dream of buying a house in Hanoi.
"I have lived in Hanoi for more than 10 years and work as an office worker. I realized that there will be a young generation like me who will find it difficult to buy a house in Hanoi if prices continue to increase like this. I am wondering whether to continue to stay in Hanoi or return to my hometown to live." See more
Many old social housing projects in Hanoi exceed 60 million VND/m2
According to the reporter's records on many real estate selling sites, the selling price of apartments of many social housing projects after many years of use has increased 4-5 times compared to the time of initial opening for sale.
Accordingly, many apartments of the Dong Mo social housing project (Dai Kim Building), Dai Kim ward, Hoang Mai district are being advertised for sale at more than 60 million VND/m2, equal to the selling price of many luxury apartments. Many 2-bedroom apartments are commonly advertised for sale by brokers for 3.3 - 4.2 billion VND.
Although offered at high prices, according to many real estate brokers, this price is "cheap" because surrounding commercial housing projects such as: Five Star Kim Giang Apartment, Riverside Garden... are priced at 80.90 million VND/m2.
It is known that the Dai Kim social housing project (Hoang Mai, Hanoi) was opened for sale in 2016 with a price of more than 14 million VND/m2. The project was handed over at the end of 2017 and has been in use for more than 7 years. Up to now, the price of apartments here has increased 4.2 times compared to the time of initial opening for sale. See more
