Talking to Lao Dong reporter, Ms. Nguyen Thu Ha (40 years old, working in Hanoi) said that recently, the price of residential land in central districts has increased sharply, even some houses with an area of less than 50 m2 but the selling price is nearly 10 billion VND.
According to Ms. Nguyen Thu Ha, although she wanted to buy a private house in an alley, she had to postpone the plan because she had not found a satisfactory house, while the selling price was too high. Private houses in alleys are advertised at 150-200 million VND/m2, suitable only for families with high incomes or good financial savings.
Similarly, Mr. Pham Duc Thang (35 years old, working in Hai Ba Trung district, Hanoi) commented that with the price of private houses of nearly 10 billion VND/unit, the residential housing market in the central area mainly attracts high-end customers or investors with strong financial potential.
Many young families like Mr. Thang, despite having a stable source of income, wanting to buy their own house in the inner city districts, are almost unable to access it.
Lao Dong's research also shows that many private houses in central districts of Hanoi have recently been continuously advertised for sale on social networks at prices of nearly 10 billion VND/unit.
Even a house in Phu My alley (Nam Tu Liem district) with an area of only 34m2 is being offered for sale at 8.6 billion VND; a private house in an alley in Xuan Thuy street (Cau Giay district) with an area of 46m2, the asking price is 9.1 billion VND, an house in an alley in Thanh Nhan ward (Hai Ba Trung district) with an area of 50m2, the asking price is 9.7 billion VND/unit.
Data from the One Mount Group Market Research and Customer Insight Center, in the first quarter of 2025, Hanoi recorded about 18,300 real estate transactions, down 14% over the same period in 2024.
Explaining the sharp decline in residential real estate transactions, according to One Mount Group experts, the price level of residential real estate in Hanoi is still maintained at a high level, beyond the affordability of most real buyers.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - mentioned that the price of houses in alleys in the center of Hanoi in recent months has been advertised for sale at very high prices, nearly 10 billion VND/unit.
Experts say that, in addition to the strengths such as being in the center of Hanoi, people who want to buy a private house in an alley need to consider a number of criteria such as the width of the entrance, fire access, the quality of the house, the construction, legal procedures such as red books, construction permits to anticipate risks, have a choice suitable for needs and finances.
