According to Lao Dong reporters, the residential real estate segment of 3-5 billion VND/unit is being sought by many investors in central districts of Hanoi such as Thanh Xuan, Cau Giay, Dong Da, Ha Dong...
Mr. Nguyen Van Hoan (real estate investor in Thanh Xuan district) said that the high price of apartments has forced many people like him to switch to hunting for residential land in alleys with prices of 3-5 billion VND/unit.
"In the last months of the year, the residential land segment in alleys is attracting a lot of attention. Even after only 2-3 surveys, some people rushed to pay to buy a house right before Tet" - Mr. Hoan said.
Similarly, Mr. Nguyen Huu Huan (living on Khuong Trung street, Thanh Xuan district) said that at the end of the year, many homeowners in the alley, due to needing money, advertised their houses for sale at 3-5 billion VND/house.
According to Mr. Huan, with a budget of about 3 billion VND, it is currently very difficult to find an apartment in Hanoi's inner city. Many houses in the alley here are for sale and within a short time, customers come to deposit and buy.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - stated that residential land is often the segment that real buyers compare with new apartments.
However, the recent sharp increase in apartment prices in both the primary and secondary markets has prompted customers to shift their focus to buying residential land. Many buyers accept the inconveniences and limitations of the alley housing segment such as parking space and construction quality instead of deciding to buy expensive apartments.
Regarding the fluctuations in the real estate market, Mr. Le Dinh Chung - General Director of SGOHomes - said that besides apartments, other segments have also increased in price. Currently, residential land in the suburbs of Hanoi is about 100 million VND/m2, residential land in alleys in the central district is fluctuating from 140 - 160 million VND/m2.
According to PropertyGuru Vietnam experts, after a reversal period, from the fourth quarter of 2024 to the beginning of the second quarter of 2025, the real estate market will enter a consolidation phase.
Investors are more confident with financial and legal factors but still prioritize real estate with good cash flow. The focal and popular segment at this time will be private houses and townhouses.
Many real estate experts believe that most investors still prefer the "every inch of land is gold" mindset, with the need to own residential land and the need to accumulate assets. Therefore, residential land in the inner city of Hanoi, aiming at real housing needs, has recorded stable liquidity, especially in the challenging period of the current market.
