According to the reporter's records, in the last days of February, dozens of shophouses and luxury villas right next to Ly Nam De Street were deserted. Lack of residents, many houses are covered with weeds, some hang signs for sale, creating a desolate scene in the middle of the urban area.
According to research, this is a "Shophouse Commercial Housing" project in Group 3, Tan Thinh Ward, Hoa Binh City, invested by Sao Vang Investment, Development and Construction Joint Stock Company. The project is expected to create a real estate highlight in the city with a scale of 4.06 hectares and a total investment of more than 299.5 billion VND.
Mr. Hung, a long-time real estate broker in Hoa Binh City, said: "The apartments here have been completed since 2022. Townhouses cost from 6 to 8 billion VND, while single-ten villa villas range from 13 billion VND/unit, with an area of 158m2 to 360m2, depending on the location and direction of the house".
According to Mr. Hung, most of the houses have been owned by owners since they were built, but most of the buyers only invest in "surfing". When the market stagnated, transactions froze, many houses were abandoned, creating the current desolate scene.
Mr. Ta Van Dinh - the security guard of the house - said that the project has 48 townhouses, but only 14 houses have residents. Most of them have owners, but many people have not completed the payment to receive the house. The road surface towards the Da River has been sold out, some have been bought but are left empty, hanging signs for reselling.
Talking to reporters, Mr. Luu Hoai Thanh - Vice Chairman of Tan Thinh Ward People's Committee - said: "The Tan Thinh Ward Shophouse Commercial Housing Project consists of 68 apartments, including 48 townhouses and 20 villas, with an expected population of about 800 residents. The project aims to build a synchronous and modern residential area, in line with the planning of Hoa Binh City, while creating harmonious connections with neighboring urban areas".
According to Mr. Thanh, out of a total of 68 apartments in the project, only 17 have found owners, most of which are still vacant.
"The investor who won the bid to implement the Shophouse Commercial Housing project in Tan Thinh ward is Sao Vang Development and Construction Investment Joint Stock Company, which still has 4,472.7 m2 (land area of 2 blocks of houses A8, A9) that has not been cleared. Site clearance is facing many difficulties because households do not cooperate in inventorying assets," Mr. Thanh added.
