According to Lao Dong reporters, in the context of the real estate market in Hanoi experiencing strong fluctuations, old apartment buildings in central districts are being sold by their owners at prices of more than 100 million VND/m2.
This makes many investors "startled" about the rapid change of the real estate segment in the area.
Ms. Le Thi Minh (36 years old, living in Kim Lien apartment building, Dong Da district) shared that many old apartment buildings that are decades old in the district are being sold at prices comparable to luxury apartments.
What surprised Ms. Minh was that these collective houses are often small in size, with degraded infrastructure, but the selling price is not cheap. There are even old collective houses being sold by their owners for over 100 million VND/m2, because they are located near commercial areas, services, and administrative agencies.
Intending to buy an old apartment building, Mr. Le Van Thinh (45 years old, Thanh Xuan district) was also overwhelmed when this segment was being pushed up in price.
Last weekend, Mr. Thinh was taken by a broker to see several old apartment buildings in Dong Da district that were being sold for more than 100 million VND/m2. He had to turn around quickly because the space was cramped and when he moved in, it would take a lot of time and money to repair and renovate.
However, according to Lao Dong reporters' research, in reality, 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 impossible that homeowners advertise very high prices when there is information about renovations to attract the attention of those in need, or to create a virtual price level.
At the meeting to implement the Project and Plans to implement the project to renovate and rebuild old apartment buildings in Hanoi in early December 2024, Vice Chairman of Hanoi People's Committee Duong Duc Tuan requested to have a comprehensive assessment of the existing problems and limitations to propose solutions to speed up the renovation progress in the coming time.
Vice Chairman of Hanoi People's Committee Duong Duc Tuan also assigned the Department of Planning and Architecture to coordinate effectively with districts (where there are apartment buildings) to guide the planning work, completing the first phase by the first quarter of 2025 at the latest.
According to Mr. Tuan, accelerating the process of renovating old apartments and building resettlement housing is a task that Hanoi pays special attention to, with the core goal of improving people's lives and creating conditions for people to settle down and work.
