According to Lao Dong reporters, located in the middle of the "golden land" area of central Hanoi, the current status of the 23 Hang Bai Street apartment complex and the Vong Duc apartment complex has seriously degraded over the years.
Notably, due to the limited space, many households living in this apartment building are forced to expand and renovate the common space for cooking, living, drying clothes, and storing belongings.
Ms. Tran Thi Hong (living on Hang Bai Street, Hoan Kiem District, Hanoi) shared that most of the people here are postal workers, who have been assigned housing here since 1962.
To increase living space, many households here have used the hallway area as a kitchen, bathroom, and built a series of "tiger cages" to store things and dry clothes.
According to Ms. Hong, the overall condition of the house is degraded and damp. Due to the cramped living space, many households here have even moved to other places to live.
Similarly, the apartment buildings on Vong Duc Street (Hang Bai Ward, Hoan Kiem District) are also in a state of disrepair, with prices of hundreds of millions of VND per square meter being advertised. Residents living in the apartment buildings still have to use shared toilets and bathrooms.
Ms. H.T.M (a resident of the Vong Duc apartment complex) shared that because of the small area, many residents here still have to share facilities such as bathrooms and toilets.
There are families with 2-3 generations living together, forced to expand and renovate the hallway area to create storage and kitchen space.
According to the plan for the period 2021 - 2025, the Hanoi People's Committee will only renovate 10 old apartment buildings, of which 6 are highly feasible: Kim Lien, Trung Tu, Khuong Thuong, Thanh Xuan Bac, Thanh Xuan Nam, Nghia Tan, and 4 areas with level D dangerous houses (Giang Vo, Thanh Cong, Ngoc Khanh, Ministry of Justice apartment building - Ba Dinh district).
Referring to this content, Mr. Nguyen The Anh - Vice President of Hanoi Real Estate Club - commented that in the recent period, the price of old apartments has been almost forgotten because there are no optimal plans for renovation.
However, after Hanoi changed some policies, many investors began to hunt and buy for the purpose of making a profit, waiting for renovation to receive high compensation.
Especially, with old apartment buildings in the central area of Hanoi, liquidity will be very fast, so the price of apartment buildings in these areas will inevitably be pushed up.
