Overwhelmed by the price of apartments in the inner city, in August 2023, Mr. Nguyen Van Dan (38 years old, from Ha Nam) changed direction to buy a house in the alley for 3 billion VND for long-term investment.
Mr. Dan had expected the house to increase in value over time, but after more than a year, he had to quickly sell it because the structure of the building was constantly deteriorating and leaking.
"The house in the alley is about 30 square meters wide, 2 floors, I quickly closed the deal at the beginning to invest in the market. Recently, I have wanted to sell, but many buyers who come to see the house often shake their heads in disappointment because the project has been built for decades and is seriously degraded" - Mr. Dan said.
According to Lao Dong reporters, the private house segment in Cau Giay, Thanh Xuan, Dong Da districts... has recently been being advertised for sale at an average price of about 80-350 million VND/m2, depending on location.
Notably, the segment of private houses in alleys in Nam Tu Liem district is being offered for sale at an average price of about 60-350 million VND/m2; private houses in Long Bien district are being offered for sale at an average price of about 50-200 million VND/m2.
Mr. Tran Hoang (real estate broker in Hanoi) informed that many houses in the alley are being sold by their owners at prices ranging from 2.5-3 billion VND/house.
However, according to Mr. Tran Hoang, most of these houses are located in narrow alleys, the structure of the building is old, buyers should consider carefully to avoid the situation where they do not need to make many repairs when closing the purchase.
Real estate market analysis ecosystem OneHousing commented that the residential real estate segment in the inner city of Hanoi has not been affected much by market trends of increase or decrease in recent times.
Currently, until the end of 2024, residential real estate transactions in Hanoi will be the most active, which is also in line with the norm. However, people participating in the market need to be cautious and research carefully to identify the risks they may encounter.
According to the website Batdongsan.com.vn, data recorded in the third quarter of 2024 also shows that private houses are a segment with remarkable price growth in recent years.
Compared to the first quarter of 2021, the average price of private houses in the Northern region has increased from an average of VND 95 million/m2 to VND 173 million/m2.
In Hanoi area, private houses and townhouses tend to increase in transaction volume as well as interest level in all price ranges.
Compared to the beginning of 2023, currently, the level of interest in private houses in Nam Tu Liem district is leading with a price increase of 43%, private houses in Hoang Mai district increased by 28%, Dong Da district increased by 21%, Ha Dong district increased by 26%, Thanh Xuan district increased by 12%.
