According to Lao Dong reporters, the segment of private houses in alleys in Hanoi has recently been attracting the attention of buyers. Along with other types of real estate, the price of houses in alleys in central districts is increasing in just a short time.
Due to the continuous increase in apartment prices, Mr. Nguyen Van Loi (43 years old, from Nam Truc district, Nam Dinh) changed direction to buy a house in the alley in early 2024 for 2.5 billion VND for long-term investment.
Mr. Loi expected that the house would increase in value over time, but in early 2025, he had to quickly sell it for 2.3 billion VND because the structure of the house was degraded and the walls were leaking.
"The house in the alley is about 40 square meters wide, 3 floors, I put up for sale at a loss of 200 million VND compared to the time of closing the purchase, because the project was built decades ago and seriously degraded" - Mr. Loi said.
Similarly, Mr. Trinh Xuan Khoa (a long-time real estate investor in Hanoi) informed that although located in the inner city, the house segment in alleys is very difficult to find buyers, especially houses in narrow alleys.
According to Mr. Khoa, although they are being sold at a price of 2-3 billion VND/unit, most of these houses are located in narrow alleys, the structure of the building is old, buyers should consider carefully to avoid having to repair a lot when put into use.
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.
Real estate market analysis ecosystem OneHousing said 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.
In Hanoi area, private houses and townhouses are showing an upward trend in transaction volume as well as interest level in all price ranges.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that in order to buy an apartment, a private house, or a house in an alley without getting ripped off, buyers should proactively survey and compare house prices with similar apartments in the same project, same area, and same segment.
If you find the price difference is too high compared to the broker's price, you should consider bargaining or contact the homeowner to know the real price of the house.
Mr. Diep emphasized that it is not uncommon for brokers to use the "surfing" trick to make a profit by only depositing with the homeowner or landowner and then reselling the property. When there is a buyer, they immediately transfer the property to make a profit. Therefore, home buyers need to be alert to the tricks of brokers to push up the price of the house.
