Planning to move her family back to her hometown before Tet, Ms. Vu Thi Hang (in Nam Tu Liem district, Hanoi) is selling her house in an alley on My Dinh street.
Ms. Hang consulted with brokers about the area's price level and was surprised when some houses had a transaction price of about 140-150 million VND/m2 at the beginning of the year, now increased to around 200 million VND/m2.
Hoping to "ride on" the market's rising momentum, at the end of November 2024, Ms. Hang advertised for sale a house of nearly 45 square meters for 11 billion VND, or about 244 million VND/square meter.
At first, about 2-3 customers came to see the house every week, but they did not close the deal because they thought the price was too high. Some people negotiated to lower the price to under 9 billion VND, but Ms. Hang did not agree because she thought the price was not good enough.
Meanwhile, Mr. Pham Van Thanh (in Xuan Truong, Nam Dinh) shared that more than a week ago, he was taken by a broker to see a 50 m2, 5-storey house in an alley on Huynh Thuc Khang Street (Dong Da District, Hanoi).
However, Mr. Thanh was surprised when the broker said the price of the house was up to 20 billion VND, equivalent to about 400 million VND/m2.
"I was quite surprised by the price the broker offered for a house in an alley. It is undeniable that this area is very central, but the price cannot be that high. They said that the price can be negotiated down, but the discount cannot be too deep," said Mr. Thanh.
Mr. Thanh said that the price of nearly 400 million VND/m2 is much more expensive than villas and townhouses in the suburban area, even comparable to many street-front houses in Hanoi.
According to Lao Dong reporters, many houses in small alleys in central districts or far from the center of Hanoi, where cars cannot access the house, are being sold for 200-250 million VND/m2, depending on the area, land characteristics and current handover status.
For example, a 35 m2 house in Van Phuc ward, Ha Dong district, with an alley less than 2 m wide, is being offered for nearly 8 billion VND (about 228 million VND per m2). This price is 2.5 billion VND higher than the price advertised in early 2024. Or a house of about 30 m2 in an alley on Kim Giang street, Thanh Xuan district is being offered for nearly 7 billion VND.
A survey on some real estate trading websites shows that the prices of many townhouses and villas are increasing rapidly. However, compared to the price of houses in alleys on the city, they are only half the price.
For example, villas and townhouses in The Phoenix Garden Urban Area (Dan Phuong district) are being sold for around 75 million VND/m2, nearly double the price compared to the end of 2023.
Or the selling price of villas and townhouses in the Ha Do Charm Villas project (Hoai Duc district) is fluctuating from 120 to more than 140 million VND/m2, an increase of about 30% over the past year. At An Lac Green Symphony Urban Area (Hoai Duc), the selling price of villas and townhouses is fluctuating from 140-170 million VND/m2.
In Ha Dong district, townhouses in Geleximco urban area along Le Trong Tan street are being offered for sale at around 200 million VND/m2.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - shared that to avoid overpaying when buying a house, one should proactively survey and compare house prices with similar apartments in the same project, same area, same segment.
If you find the price difference is too high compared to the broker's price, you should consider bargaining or contact the homeowner to know the real price of the house.
