Investigations by PV Lao Động found that on social media forums, many property owners have recently been continuously listing their houses for sale at a loss in alleys in Đống Đa District (Hanoi) with prices reduced by 200-300 million VND per unit, including furniture and interior decorations.
Mr. Trần Văn Minh, owner of a house in Văn Chương Alley (Đống Đa District, Hanoi), stated that due to a lack of need for use, his family is looking to sell the house at a loss with a price of 3.8 billion VND for a 35 m2, 2-story unit.
“The alley entrance is too narrow, so my wife and I have to spend millions of VND each month to find a place to park our car and then walk to the house. The price I am offering is 3.8 billion VND, cutting losses and providing a support of approximately 300 million VND to the buyer due to the aforementioned inconveniences,” Mr. Minh said.
Ms. Trịnh Thị Linh, who posted information about selling her house on social media, shared that she is currently selling a house at a loss of 200 million VND in an alley near the Văn Chương Collective (Đống Đa District) for 5 billion VND.
According to Ms. Trịnh Thị Linh, the 44 m2 house is located in a deep alley. Ms. Linh also recently spent nearly 100 million VND to repair the structure and add interior decorations, increasing the cost.
Forced to turn back home quickly when taken to view a house in an alley being sold at a loss of 300 million VND, Ms. Lê Thị Dung (born in 1986, working in Hanoi) is still bewildered by the house being sold at a price of 4 billion VND, with the alley entrance being too narrow, only just enough for two people to pass each other.
According to Ms. Dung, the house in the alley is located on Chùa Bộc Street (Đống Đa District) with a size of 40 m2 and a selling price of approximately 4 billion VND, equivalent to 100 million VND per m2. However, after viewing the house, Ms. Dung had to turn back home quickly due to fear of fire and explosion, as the house has been built for over 20 years, with a deteriorating structure, walls covered in mold, and water seepage.
According to OneHousing's ecosystem analysis, the demand for buying houses in alleys in Hanoi in 2024 is expected to continue increasing.
OneHousing stated that due to the shortage of apartments in Hanoi, while the demand for housing from the people is still increasing, many people have recently shifted their focus and chosen to buy houses in alleys in central districts.
OneHousing's expert noted that the house-in-alley segment in Hanoi has the advantage of being located in convenient positions, close to important centers, such as administrative, educational, medical, commercial, cultural, and entertainment centers...
However, to purchase a house in an alley in Hanoi that meets their requirements, buyers need to research thoroughly the information about the area, the condition of the house in the alley, and the legal documents.
In an interview with PV Lao Động, Mr. Nguyễn Thế Điệp, Vice Chairman of the Hanoi Real Estate Club, stated that the recent trend of selling houses in alleys at a loss of tens of billions of VND is mostly a tactic used by property owners and real estate agents to attract more attention and facilitate sales.
Mr. Nguyễn Thế Điệp advised that people who need to buy houses in alleys in Hanoi should be cautious and thoroughly inspect the quality of the construction, the inconvenience of narrow alley entrances, legal documents, and property certificates, and be wary of the tactics used by property owners and real estate agents to avoid falling into the "price trap" and the illusion of a price drop on the market...
