Research by Lao Dong reporters shows that in the current market, the affordable apartment segment with prices under 25 million VND/m2 is almost no longer traded and there are almost no products for sale.
At the Viha Complex project (Thanh Xuan, Hanoi), apartments are being offered for sale at prices ranging from 75 to 97.2 million VND/m2. For example, an apartment with an area of 93.4m2 including 3 bedrooms and 3 bathrooms is being offered for sale at 7.7 billion VND, equivalent to 82.44 million VND/m2.
At the Masteri West Heights project (Tay Mo, Nam Tu Liem), apartments here are being offered for sale at 62.6-87.8 million VND/m2, an increase of 28.5% over the past year.
Apartments at the Green Diamond 93 Lang Ha project (Lang Ha, Dong Da) are being offered for sale at 90.5-125.7 million VND/m2, an increase of 30.9% over the past year.
Sharing with Lao Dong reporter, Mr. Tran Minh Tien - Director of OneHousing Center for Market Research and Customer Understanding - pointed out that the demand for real housing remains high in Hanoi, in the context of scarce supply, which has promoted increased liquidity.
Also because of the high prices in the area near the center, buyers are looking for more affordable products in the suburbs. But even the projects there, the price ranges from 60 million VND/m2.
It can be seen that the imbalance between supply and demand is a major concern when the supply is mainly focused on the high-end housing segment, while affordable apartments suitable for the majority of people's income are very few.
This not only causes a shortage of affordable apartments but also pushes up real estate prices, beyond the affordability of many people, especially low- and middle-income workers.
Faced with this situation, experts have proposed accelerating the construction of social housing projects. However, according to a recent report to the National Assembly, Minister of Construction Nguyen Thanh Nghi said that the implementation of this segment is still limited and has not yet met the needs of low-income people. Many localities have not yet completed the targets for social housing development.
Dr. Nguyen Van Khoi - Chairman of the Vietnam Real Estate Association - said that the problem of rising prices has reduced buyers' access to housing, especially in the affordable housing segment. There has been land speculation, pushing up housing prices and creating a lack of transparency in real estate transactions.
Not to mention, the situation of "shelved" projects is still a big challenge for the market, causing market liquidity and homebuyers' confidence to decline. This requires local authorities to have methods to regulate the market, manage and closely monitor.
Meanwhile, Mr. Nguyen Van Dinh - Chairman of the Vietnam Association of Real Estate Brokers (VARS) - shared that to reduce apartment prices in Hanoi, efforts need to be made to speed up the progress of social housing construction projects.
Proactively regulate supply by effectively using planning tools, adjusting planning, and allocating additional clean land funds to help investors implement social housing projects as soon as planning is established.
At the same time, people must have the opportunity to know and contribute ideas to land use planning and plans, so that land is used for the right purpose, economically, and to maximize its value.
