According to Lao Dong reporter on January 23, many private houses in Dong Da district (Hanoi) have recently been listed at prices exceeding 200 million VND/m2, even though they are located in narrow alleys.
For example, a private house in an alley of only about 22 square meters on Chua Boc Street (Dong Da District) is being offered by the owner for 5 billion VND/house, equivalent to 227 million VND/square meter. According to the seller, despite its modest area, the 5-storey house has been designed with full functionality and amenities.
According to a survey, a house located near the commercial center on Pham Ngoc Thach Street (Dong Da District) with an area of 20 square meters is also being offered by the owner for 4.95 billion VND, equivalent to 247 million VND/square meter.
The 29m2 private house located next to the Banking Academy (Dong Da District) is also being offered by the owner for 7.15 billion VND, equivalent to 246 million VND/m2, despite the narrow alley. If the homeowner decides to buy a house here, they will have to find a place to park their car and other means of transportation outside.
Talking to Lao Dong reporter, Mr. Nguyen Van Cu (45 years old, living on Chua Boc street, Dong Da district) said that the selling price of houses in the alley here is being "shouted" too high, making many people living here like Mr. Cu feel dizzy.
Mr. Cu said that with such surprisingly high selling prices, the house segment in alleys in Dong Da district is quite picky about buyers, even though the residential land segment is a form favored by many people, convenient for commuting, and located in the inner city center.
Many real estate experts say that the price of private houses in Hanoi has been increasing continuously in the last 2 years. Currently, the segment of private houses around 4 billion VND/unit is not much, if there are, they are often located far from the center, in deep alleys.
Accordingly, the popular price range has increased to 5-6 billion VND/unit, this is the highest price range with the best transaction. Private houses priced from 7-8 billion VND/unit have slower transaction rates.
Mr. Dinh Minh Tuan - Business Director of PropertyGuru Vietnam - commented that the Vietnamese real estate market in 2024 is clearly differentiated.
Currently, the increase in private houses in Hanoi is about 15-25% compared to half a year ago. Meanwhile, the average selling price of private houses in Ho Chi Minh City is 108 million VND/m2, down 10% compared to January 2023.
Forecasting the real estate market in the coming time, PropertyGuru Vietnam experts commented that after a reversal period, from the fourth quarter of 2024 to the beginning of the second quarter of 2025, the real estate market will enter a consolidation phase.
Investors are more confident with financial and legal factors but still prioritize real estate with good cash flow. The focal and popular segment at this time will be private houses and townhouses.
