According to Lao Dong reporters, the selling price of private houses in alleys in districts in Hanoi such as Nam Tu Liem and Dong Da is being advertised at a common level of 5-10 billion VND/unit.
For example, in early 2024, a 5-storey house in My Dinh ward (Nam Tu Liem district), with a 6m frontage and full legal documents, was advertised for sale at 9.5 billion VND/unit, but is currently advertised for 10 billion VND/unit.
Meanwhile, a 3-storey private house, 60m2 wide, located in a narrow alley in Me Tri ward with a red book, was advertised for sale at 9.8 billion VND/unit in early 2024, and the owner has now advertised a price of 10.5 billion VND/unit.
In Dong Da district, a private house in an alley of only about 22m2 on Chua Boc street was advertised by its owner for 5 billion VND, equivalent to 227 million VND/m2.
A house near the shopping mall on Pham Ngoc Thach street with an area of 20m2 is also being offered by the owner for 4.95 billion VND, equivalent to 247 million VND/m2.
Talking to Lao Dong reporter, Mr. Nguyen Van Ngoc (45 years old, living on Xa Dan street, Dong Da district) said that the selling price of private houses in alleys is making many people living here like him feel dizzy.
According to Mr. Ngoc, with the current selling price, the segment of houses in alleys in Dong Da district is quite picky about buyers, although the segment of residential land is a form favored by many people, convenient for travel, located in the center of the inner city.
Statistics from the website Batdongsan.com.vn show that the current increase in private house prices in Hanoi is about 15-25% compared to half a year ago.
Research data from the Vietnam Association of Realtors (Vars) recently analyzed that in fact, in the market, in Hanoi's inner city, the number of private houses priced from 3-4 billion VND/unit is quite scarce.
Even in the suburban areas of Hanoi, private houses in alleys are currently trading at prices of about 70-80 million VND/m2, even corner lots, beautiful lots, the price will reach over 100 million VND/m2.
Mr. Do Ngoc Thang - Regional Sales Director at Onehousing - commented that the inner city of Hanoi is a place where land funds cannot be expanded further, but the population is still increasing and most importantly, the real demand for housing, investment, business, and rental is always maintained at a high level.
Real estate experts note that, in addition to the strengths, home buyers need to consider a number of criteria such as fire prevention and fighting approach, house and construction quality, legal procedures such as red books, construction permits to anticipate risks, have options suitable to their needs and finances.
Faced with the increasingly expensive real estate prices, the Ministry of Construction previously said that the unit will study and propose a pilot model of real estate transaction centers and land use rights transactions managed by the State.
This proposal aims to limit the situation where exchanges and brokers can collude to disrupt the market, reduce price and legal risks for real estate buyers.
