Real estate market data from Batdongsan recently shows that private homes are a segment with remarkable price growth in recent years.
The latest statistical data to date shows that, compared to the first quarter of 2021, the average price of private houses in the Northern region has increased from an average of VND 95 million/m2 to VND 173 million/m2.
In Hanoi, the type of private houses and townhouses tends to increase in transaction volume and interest in all price ranges. In particular, the interest level has increased sharply in almost all districts in Hanoi.
Compared to the beginning of 2023, up to now, the level of interest in private houses in Nam Tu Liem district has increased by 43%, private houses in Hoang Mai district have increased by 28%, Dong Da district has increased by 21%, Ha Dong district has increased by 26%, Thanh Xuan district has increased by 12%.
According to Lao Dong reporters' investigation in late December 2024, many private houses in Nam Tu Liem district with an area of 30-40m2, small alleys, cars cannot enter in Me Tri and My Dinh wards... in early 2024, were priced at only about 4.6-5.2 billion VND/house but have now increased to 5-5.8 billion VND/house.
Private houses in Nam Tu Liem district have an area of 30-40m2, cars can be parked at the door, and prices have also increased from 300-700 million VND/house after only a few months.
The selling price of private houses in Ha Dong district with cars parked at the door, area of 30-38m2, also increased from 6.2-7 billion VND/house to 7-7.7 billion VND/house.
Private houses in the areas of La Khe, Phu Lam, Duong Noi, Kien Hung, Yen Nghia, Ha Cau (Ha Dong district) with an area of 30-40m2, cars cannot enter, the common price increases from 3-4 billion VND/house to 3.7-4.9 billion VND/house.
Notably, some other private houses located in the car-avoiding alley on Hoang Cau Street (Dong Da District) are being offered for sale from 280 - 320 million VND/m2. Meanwhile, in early 2024, the selling price in this area only fluctuated at 250-280 million VND/m2.
According to Mr. Tran Hoang (a long-time real estate broker in Hanoi), it is undeniable that since the beginning of 2024, private house prices in Hanoi have increased sharply. However, it is unreasonable that houses in alleys are as expensive or even more expensive, even increasing by billions of VND in just a few months.
Mr. Tran Hoang said that recently, many people have been looking to buy houses in the alley with real housing needs. However, some brokers or homeowners have grasped the situation and have taken advantage of it to push up prices, heating up the market for profit, making the already high house prices even higher.
Referring to this content, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that in order to buy an apartment, private house, or house in an alley without getting ripped off, buyers should proactively survey and compare house prices with similar apartments in the same project, same area, and 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.
Mr. Diep emphasized that it is not uncommon for brokers to use the "surfing" trick to make a profit by only depositing with the homeowner or landowner and then reselling the property. When there is a buyer, they immediately transfer the property to make a profit. Therefore, home buyers need to be alert to the tricks of brokers to push up the price of the house.
