At the end of August 2024, Ms. Nguyen Thi Huong (34 years old, Hoang Mai district, Hanoi) decided to sell a 35m2, 4-storey house in the alley. This house was bought by Ms. Huong and her husband in 2017 for 2.5 billion VND.
Because the house is located in an alley where cars cannot enter, the couple decided to sell it to find a new, more spacious and comfortable place to live. The house was priced at 4.8 billion VND by Ms. Huong and her husband.
Less than 2 weeks after the house was put up for sale, customers came to deposit money. "A lot of people came to see my house. The buyer agreed to reduce the price by 50 million VND. They will pay the transfer fee themselves," said Ms. Huong.
Overwhelmed by the recent apartment prices, Mr. Nguyen Ngoc Duy (currently renting a house in Thanh Xuan district, Hanoi) said that he has recently switched to looking for houses in alleys with a budget of about 3 billion VND.
Mr. Duy shared that he and his wife are looking for a house in Khuong Trung alley in Thanh Xuan district with a price of 3 billion VND. This house is 30 square meters wide, 2 floors, equivalent to about 100 million VND/square meter.
"The house is located in an alley, if you buy it, you have to pay a monthly fee to park your car. However, because it is close to work, my family decided to deposit 20% in advance, and make an appointment with the homeowner to pay the money and transfer the name on a good day," said Mr. Duy.
Mr. Nguyen Tien Duc (real estate broker in Hanoi) said that the demand for buying houses and land in alleys has increased sharply recently. Because of the high demand, the price of houses and land has also increased.
At present, with 3 billion VND, it is difficult to buy a satisfactory house in the inner city, unless you choose a house without a red book. With 3 billion VND, according to Mr. Duc, you can only buy a house in An Khanh, An Thuong (Hoai Duc) or Yen Nghia, Dong Mai (Ha Dong), or Thanh Tri, Chuong My.
In a recent report by OneHousing, it was noted that liquidity and real estate prices in the alley have been increasing continuously.
Sharing with Lao Dong, Mr. Tran Duc Khang - Sales Director of Region 2 OneHousing - commented that in Hanoi's inner city, finding a house with a budget of 3-4 billion VND is currently very difficult.
With this financial level, buyers can only find old houses, houses where the owner is determined to sell the land, or where the alley is very deep, the alley leading to the house is small...
In the suburbs, houses in alleys are being traded at around 70-80 million VND/m2, even some corner lots and nice lots will cost more than 100 million VND/m2.
According to Mr. Tran Duc Khang, the general situation of the residential housing market has also increased in price, but there is no sign of a sharp increase in a few months, but rather a steady and stable increase.
With residential houses, stopping buying does not affect the homeowner's price reduction. The homeowner only reduces the price when they are in dire need of money to invest in something else.
According to forecasts from the OneHousing Center for Market Research and Customer Insights, in the last 6 months of 2024, the residential market is expected to record about 23,000 transactions, still mainly concentrated in the East and West of Hanoi.
