Speaking with Lao Dong reporter, Ms. Nguyen Thi Xuan (living in Giang Vo ward, Ba Dinh district) said that in early 2023, her family decided to buy a house in an alley in Giang Vo ward for 5 billion VND.
"During the time we moved in, because the alley was too narrow, my family posted an ad to sell the house in May 2024 for 6.1 billion VND to find an apartment in the inner city. This price includes all furniture and interiors," said Ms. Xuan.
Also successfully selling a house in an alley in Thanh Xuan district, Ms. Le Thi Ngoc Lan (born in 1982, from district Y Yen, Nam Dinh) confided that she bought this house for about 3.5 billion VND, 35 square meters wide in early 2018 for her daughter to study in Hanoi.
According to Ms. Lan, because she no longer needed to use the house, her family put it up for sale in June 2024 at a price of 5 billion VND/house, including transfer and procedure costs. Thus, after 6 years of use, Ms. Lan's house has made a profit of about 1.5 billion VND.
Commenting on the reason for the recent increase in house prices in alleys, Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - informed that the reason is partly due to the high prices of the apartment market, which has prompted a group of home buyers to change direction.
Notably, the segment of houses in alleys ranging from 3-5 billion VND is of great interest because with the same budget, to buy an apartment, one must move to an area far from the center and is increasingly scarce.
Regarding price fluctuations in the housing market, at the end of September 2024, the Ministry of Construction sent a report to the Office of the Government analyzing the cost structure, selling prices and causes of real estate price increases.
The Ministry of Construction stated that during the hot period of the real estate market, many brokers used deposits to buy houses and land from sellers, then increased the price by 10-15% and sold it to others.
Through synthesis, it is shown that these activities of some associations, groups of speculators, investors and individual real estate brokers are also part of the reason for the increase in real estate and residential land prices in recent times.
Regarding the above issue, the Vietnam Association of Realtors (VARS) also recommends that people who want to buy a house in an alley need to be alert and vigilant against the tricks of homeowners and brokers.
People should not buy houses in alleys that are too deep or too small, because in case of fire or explosion risks, fire trucks will have difficulty entering. In addition, buyers should not rush to pay because they may be "taken advantage of" when prices increase artificially.
To buy a house at its true value, experts say buyers need to consult prices at reputable brokerage firms. At the same time, Hanoi’s housing prices have reached their peak, so if you want to buy at this time, you need to consider carefully.
