According to Lao Dong reporters, many luxury apartments in Ba Dinh district (Hanoi) are being sold by their owners for tens of billions of dong, including furniture and interiors.
Mr. Duc Tuan (living in Ba Dinh district) shared that because he needs money for business, he urgently needs to transfer a 3-bedroom apartment, area 136m2 for more than 17 billion VND, equivalent to more than 124 million VND/m2.
"The apartment is located on the 23rd floor, has a view of Thanh Cong Lake, the house is 95% new from the investor, surrounded by full amenities such as schools, hospitals, offices, supermarkets, the selling price of 17 billion VND includes all taxes and fees" - Mr. Tuan said.
Also selling an apartment for 24 billion VND (approximately 1 million USD), Ms. Nguyen Thi Huyen (born in 1986, living in Ba Dinh district) informed that her family is selling a 146m2 apartment with 4 bedrooms, equivalent to 164 million VND/m2.
According to Ms. Huyen, apartment prices are constantly increasing. Recently, many homeowners here have posted information about transferring and selling apartments at prices ranging from 120-190 million VND/m2, including furniture and interior.
A recent market report by the Vietnam Association of Realtors (VARS) said that the real estate market is increasing new supply sources but low-cost housing is still "extinct", while high-end housing projects continue to "land" in Hanoi with the lowest price of nearly 70 million VND/m2.
According to Vars, housing products are becoming less and less diverse due to the serious imbalance between supply and demand. In the first 9 months of 2024, the market supply is still strongly differentiated with 70% being apartments. Of which, the high-end segment (over 50 million VND/m2) and luxury segment (over 80 million VND/m2) account for about 70%.
Referring to this content, Ms. Nguyen Hoai An - Senior Director of CBRE Vietnam branch in Hanoi - commented that the selling price of apartments in Hanoi will continue to increase in the coming time.
The reason is that a large proportion of the current apartment supply is concentrated in the high-end segment. In addition, there will be more luxury projects launched for sale at the end of the year, pushing up the primary selling price level in the last quarter of 2024.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association - also said that if Hanoi apartments and other residential real estate segments continue to increase and there are no early intervention measures, it will cause great instability for the real estate market.
According to experts, management agencies need to soon take measures to "unblock" affordable commercial housing and social housing projects. Investors need to step up research and product development in line with trends and affordability of the majority of people, limiting the situation of surplus and large phase deviation towards high-end and luxury products.
