Talking to Lao Dong, Mr. Nguyen Van Lam (38 years old, living in Ngoc Khanh apartment complex, Ba Dinh district) said that his family bought a 57m2 apartment on the 2nd floor at the end of 2021 for 2 billion VND.
During use, the apartment has been expanded by more than 15m2, with an actual usable area of 70m2, enough to arrange 2 bedrooms, 1 office and essential auxiliary works. Up to now, there are people asking to buy this apartment for nearly 3 billion VND.
"I was quite surprised that the old apartment segment has recently attracted attention. Even many apartments with expanded areas are being offered for 2-4 billion VND/apartment" - Mr. Lam said.
Witnessing the deterioration of the housing area, Mr. Le Ngoc Linh (67 years old, living in Thanh Cong apartment building, Ba Dinh district) informed that the people here strongly support Hanoi City's policy on renovating the apartment building.
However, according to Mr. Linh, many people really hope that the renovation project will be implemented quickly, ensuring their rights and reasonable compensation policies in accordance with their wishes.
According to Lao Dong reporters, many old collective houses in Ba Dinh and Dong Da districts (Hanoi) have recently been advertised for sale by their owners at expensive prices.
For example, a house in Trung Tu collective housing area (Dong Da district) with an area of 70m2 is being advertised for 4 billion VND, equivalent to more than 57 million VND/m2.
The seller shared that the old apartment building is located in the center of the district, surrounded by full amenities such as a shopping mall, a school; the house is designed with 1 living room, 2 separate bedrooms, 2 bathrooms.
The Kim Lien apartment building (Dong Da district) with an area of 80m2 is also being offered for sale by the owner for 4.2 billion VND, equivalent to more than 52 million VND/m2 despite being in use for more than 60 years, being one of the oldest apartment buildings in Hanoi.
The project to renovate and reconstruct all old apartment buildings and groups of old apartments in Hanoi is being implemented, collecting community opinions, submitting to the city planning appraisal council, approving the detailed planning project 1/500.
It is expected that some collective housing areas in Hanoi such as Kim Lien, Trung Tu, Khuong Thuong, Hao Nam and surrounding areas will be appraised in May 2025.
That shows the determination of Hanoi City in creating a new, more spacious and safer appearance for 40-50-year-old apartment buildings, especially buildings that warn of danger and need to be relocated urgently.
Many real estate experts believe that the reason for the high price of old collective houses in Hanoi is their central location. In addition, the price of this segment is also high due to the influence of apartment and house prices in alleys in recent times. However, there are many cases where collective houses are being advertised for sale at unreasonable prices.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that although the collective house segment is located in the center of Hanoi, when buying and selling old collective houses, buyers need to pay attention to the actual area. Buyers also need to note that renovation and expansion are common in old collective housing areas, causing the area in the red book to be much smaller than the area for sale.
