Young couple struggling to buy a house
Seeing the increasing price of apartments in Hanoi, Mr. Nguyen Trong Vu (30 years old, from Ha Tinh) is constantly worried. The opportunity to own a place to live for Mr. Vu and his wife seems to be more and more distant.
Mr. Vu said that in mid-2024, he and his wife had about 600 million in savings. He and his wife planned to have a second child in 2025, so they wanted a stable place for their family of four and their grandmother from the countryside to come and help take care of the children.
Mr. Vu's financial plan was to buy an apartment with: 600 million VND in savings, money from his parents selling a piece of land in the countryside (the selling price at that time was about 700-800 million VND), the rest they would borrow from the bank and friends and acquaintances.
"We looked for apartments of about 60 square meters priced from 2.3 to 2.6 billion VND in the Hoai Duc, Thanh Tri, and Dong Anh areas. When we went to survey, we found the prices too high, so we hesitated to buy. My wife and I agreed to wait for the price to stabilize before choosing an apartment that suits our finances," said Mr. Vu.
In a recent market report by real estate consulting firm Savills, in the second quarter, Hanoi had no new supply of apartments priced under VND45 million/m2.
A representative of CBRE Vietnam said that about 70% of apartments opened for sale in Hanoi in the first half of 2024 are concentrated in the high-end segment and fall into the price range of 60-120 million VND/m2.
It is noted that in the primary market in Hanoi recently, there have only been about a dozen projects opened for sale, most of which are priced from 60 million VND/m2, apartments under 50 million VND/m2 have almost disappeared.
Revealing a series of projects about to launch
Hanoi Department of Construction said that since the beginning of the year, there have been 9 housing projects in the city that meet the conditions of future real estate being put into business according to the Law on Real Estate Business.
According to the list of housing and urban area construction investment projects in the city's housing development plan for the period 2021-2025 (phase 3) recently approved and updated by the Hanoi People's Committee, there are 36 projects that have been approved for investment policy.
Of these, 10 projects are under implementation, expected to be completed in the 2021-2025 period, and 26 projects are expected to be completed after 2025.
Some projects expected to be completed in 2024 include: Investment project to build the new urban area Ha Dinh in Thanh Xuan district and Thanh Tri district with 118 apartments.
Housinco Tan Trieu office and residential complex (Thanh Tri district) with a total investment of over 1,000 billion VND, providing over 240 apartments. The project is currently adjusting its investment policy.
In 2025, there is a Van Nien Commercial Center, Apartment and Luxury Villa project (Me Linh district) with 163 houses expected to be completed.
Some projects proposed to be completed in 2026 include: The investment project to build a housing area at 486 Ngoc Hoi, Van Dien town, Thanh Tri district with a scale of nearly 3,600m2, with about 830 houses, total investment capital of nearly 2,000 billion VND. The project has currently completed site clearance.
Complex of housing, offices, supermarket services and automatic parking garage (Thanh Xuan district) with a total investment of nearly 1,600 billion VND with 132 apartments.
The project of commercial center, office, luxury apartment complex located at 210 Quang Trung, Quang Trung ward, Ha Dong district, scale of about 200 apartments. Total investment of 895 billion VND.
Or the Phu Luong new urban area project in Phu La ward, Phu Luong, Kien Hung, Ha Dong district. The project provides 475 houses, with a total investment of more than 4,800 billion VND...
