According to Lao Dong reporters, despite being in a state of disrepair after 15 years of use, many apartments in the Nam Trung Yen resettlement area (Cau Giay district) are still being offered for sale at prices of more than 60 million VND/m2.
For example, an apartment in the Nam Trung Yen resettlement area, measuring 95.76 square meters, is being offered for sale at 6.5 billion VND, equivalent to more than 67 million VND/square meter.
According to the owner, the apartment has 3 bedrooms, is fully furnished, located in a prime location in Cau Giay district, very convenient for commuting and applying for school for children.
Also posting an ad for a 2-bedroom apartment, 87 square meters in the Nam Trung Yen resettlement area, Ms. Nguyen Thi Hong (37 years old, living in Cau Giay district) said that because she has no need to use it, she is selling the house for 5.4 billion VND, equivalent to 63 million VND/square meter.
Or an apartment in building A6A Nam Trung Yen, 38 square meters wide, is being sold by an owner for 2.55 billion VND (equivalent to 67.1 million VND/square meter), another apartment, 39 square meters wide, is being sold for 2.38 billion VND (about 61 million VND/square meter).
Notably, despite being vacant for 5 years, many apartments in the CT2 Xuan La resettlement building (Tay Ho district) were recently put up for sale at a price of more than 60 million VND/m2.
According to Lao Dong reporters, CT2 apartment building is one of three buildings in the Xuan La Resettlement Area Construction Project, which started construction in the second quarter of 2012 and will be completed in 2020.
Mr. Nguyen Xuan Quang (a resident living near CT2 Xuan La building) informed that the resettlement apartments at CT2 Xuan La building have not been granted pink books yet, however, the building is ready for residents to move in.
Because some households that were allocated resettlement houses here do not have a need to use them, recently they have been in need of reselling them at a price of more than 60 million VND/m2.
Information from CBRE Vietnam shows that as early as the fourth quarter of 2024, the average price of secondary apartments in Hanoi has reached VND48 million/m2, an increase of more than 26% year-on-year, the highest annual increase ever recorded. Not only that, the primary selling price of apartments in Hanoi continues to increase sharply, reaching an average of VND72 million/m2.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that due to its location in the center of the capital, convenient transportation, and full surrounding amenities, many old resettlement housing areas are having the advantage of increasing prices.
However, Mr. Diep noted that buyers need to consider carefully before paying because this type of project has the characteristics of small area, simple design, rapid deterioration, and the quality of many projects is not guaranteed, greatly affecting future liquidity.
