A house in lane 68 Xuan Thuy (Cau Giay ward, Hanoi) has just been transferred for nearly 23 billion VND, nearly 9.4 billion VND higher than the price exactly a year ago. This development surprised many people in the area, because this is just a house in an alley, not a large street.
A year ago, the family of Ms. Linh Anh - the old owner of the house - decided to sell it to move to another place. The house has an area of 48m2, built about 20 years ago but is still quite new, the interior is carefully preserved. The house is located in an alley of more than 5m wide, with cars entering the door. Thanks to its favorable location, after only a few days of being put up for sale, the house was bought by someone for 13.6 billion VND.
At that time, Ms. Phuong - Ms. Linh Anh's old neighbor - had intended to buy the house to build a company office. After about a month of having a new owner, Ms. Phuong was willing to pay 15 billion VND, 1.4 billion VND higher than the original transaction price, but the new owner refused to sell.
It is worth mentioning that since the purchase, the new owner has not renovated or rented the house but left it empty and closed for a whole year. The residential area has repeatedly wondered, thinking that buyers may just "hold a house waiting for the price to increase".
And indeed, after exactly one year, the house was put up for sale again. When she heard the news, Ms. Phuong continued to contact to buy, this time the homeowner agreed but offered a price of 23 billion VND. The increase of nearly 10 billion VND after 12 months has made many people around the area "unbelievable in their eyes".
My neighbors and I were surprised because the house increased in price after just one year. Many people who come to see the house say they will buy it for investment. I had to consider and buy very quickly because I was afraid of missing out on opportunities like last time, Ms. Phuong shared.
According to research, alley 68 Xuan Thuy is an area with quite good infrastructure, near the Cau Giay - Xuan Thuy - Ho Tung Mau route, surrounded by many universities, offices and commercial areas. However, this is not an alley that is too prime, and is often flooded during heavy rains, so the price of nearly 23 billion VND makes many people think it is "too high".
Real estate brokers in this area said that after Hanoi announced the plan to expand the Nhon - Hanoi Railway Station Metro line and renovate Cau Giay infrastructure, real estate prices around here have increased sharply, especially those that can be used for business or office.
"Since the beginning of the year, houses in wide alleys and cars have increased in price by 20-30%. However, doubling like this is rare" - Mr. Cao An, a real estate broker specializing in Cau Giay area, commented.
According to Mr. Cao An, the phenomenon of house prices in alleys increasing sharply is not only in Cau Giay. In other central areas in Hanoi, many houses in car alleys have also increased by several billion VND in just half a year. The main reasons come from scarce supply, people's psychology of keeping their homes and the trend of "holding land on the street" waiting for prices to increase.
However, investors have warned that the rate of price increase is too fast, which poses great risks. Not every house in an alley can double in value in just one year. Such cases are often individual.
