Investigation by Lao Dong reporters shows that many townhouses in Hanoi are being offered for sale at nearly VND1 billion/m2. For example, on Ma May Street, a house located on a corner lot with an area of 55m2, built with 4.5 floors, is being offered for sale at nearly VND47 billion, equivalent to approximately VND855 million/m2.
Another house on Hang Ma Street with an area of over 157 square meters is being sold by the owner for 105 billion VND, equivalent to 669 million VND/square meter.
On Hang Cot Street, townhouses are being offered for sale at 900 - 950 million VND/m2. Even houses with 2 street frontages are being offered for sale at prices up to 1-1.3 billion VND/m2. According to the owner, if you buy the house, you can rent it out monthly with a cash flow of more than 120 million VND/month.
Speaking with Lao Dong on October 31, Mr. Nguyen Van Cuong (39 years old, living in Hoan Kiem district, Hanoi) said that he currently wants to sell a 3-storey house on Hang Bong street, area 160m2 for 120 billion VND, equivalent to 750 million VND/m2.
Mr. Cuong added that because it is located in the center of Hanoi, real estate prices in Hoan Kiem district are constantly increasing, attracting many investors who want to buy for commercial business. Compared to the end of 2023, the current price of townhouses in Hoan Kiem district is about 50-100 million VND/m2 higher, depending on the location.
However, according to Lao Dong reporters, although the selling price is very high, there is still no data on the actual transaction volume of the townhouse segment in Hanoi. Many experts have warned, not excluding the factor that homeowners and brokers are pushing up the price of the townhouse segment to make a profit.
The latest real estate market report from Batdongsan.com.vn shows that from 2015 to now, street-front houses in 7 central districts of Hanoi such as Hoan Kiem, Ba Dinh, Hai Ba Trung, Cau Giay, Dong Da, Tay Ho, Thanh Xuan have continuously increased in price.
Experts from Batdongsan.com.vn say that Hanoi street-front houses are always a sustainable and most valuable real estate segment even when the real estate market is gloomy.
To maximize profits, buyers of townhouses in Hanoi's inner city districts should carefully research the legal aspects and quality of townhouses, or if they already own a house but do not use it for living, they can rent it out or use it for business or trading.
Mr. Nguyen The Diep - Permanent Vice President of Hanoi Real Estate Club - informed that many owners of townhouses in Hanoi are offering high prices due to expectations. However, investors need to research carefully before putting down money, because the transaction price may be much lower than the price offered by the owner.
Experts say that the townhouse segment, especially in prime locations, is expected to continue to increase due to no additional supply, convenient transportation, and being located in the inner city center.
