According to Lao Dong reporters, the price of apartment buildings in Hanoi has been continuously increasing recently, making many people who want to buy feel overwhelmed because old apartments that are several decades old, even in disrepair, are being sold for more than 80-100 million VND/m2.
Mr. Nguyen Van Hung (living in Trung Tu apartment complex, Dong Da district) shared that in early 2024, when he saw the price of old apartment buildings increase, his family postponed selling to wait for the compensation and renovation plan.
"The family's old apartment building is on the 2nd floor, right on Pham Ngoc Thach Street, so it is very convenient to travel, has a red book of 45 square meters, the hallway and balcony are 5 square meters wider. Although many investors have called to offer 95 million VND/m2, wanting to make a deposit in advance, my family has postponed the plan to sell the house" - Mr. Hung said.
Similarly, Ms. Nguyen Minh Huyen (living on To Hieu Street, Cau Giay District) informed that from the end of 2023, her family planned to sell the old 30m2 apartment building for 2.7 billion VND, equivalent to more than 91 million VND/m2 to find an apartment.
Recently, although many people are interested, Ms. Huyen has not yet closed the sale at this time to wait for information on the compensation and renovation plan for the old apartment building project.
In fact, 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.
Referring to this content, experts from the OneHousing real estate ecosystem informed that old collective houses in Hanoi have the advantage of being located in the center of the capital.
When looking to buy in this segment, many people need to pay attention to the quality of the building and the area of the apartment after expansion compared to the actual area on the red book.
Architect Dao Ngoc Nghiem - former Director of the Hanoi Department of Planning and Architecture, Vice President of the Vietnam Urban Planning and Development Association - commented that many investors willing to buy old apartment buildings for billions of dong mostly consider this as a long-term investment, seeing opportunities when this segment has a renovation and compensation mechanism.
Architect Dao Ngoc Nghiem said that if people decide to spend money to invest in buying old apartment buildings, they must carefully consider many factors such as location, planning, and expected renovation time.
In addition, it is necessary to pay attention to the actual area on the red book of the apartment because most old collective apartments have to be expanded during the living process. When renovating, the compensation price is often only applied to the actual area on the red book, so the buyer may be disadvantaged.
