Old apartment building on prime land for sale for over 300 million VND/m2

Thu Giang |

Hanoi - Located in the center, the Vong Duc apartment building (Hoan Kiem district) was once listed by the owner for more than 300 million VND/m2.

According to Lao Dong reporters, located in prime locations, some apartments in the Vong Duc apartment complex (Hoan Kiem district, Hanoi) are being sold at expensive prices despite their serious deterioration.

Recently, on a real estate trading page, there is information about selling a 1st floor apartment on Vong Duc street, area 30m2, frontage 3m with price 9.8 billion VND, equivalent to more than 326 million VND/m2. This information attracts the attention of many investors.

The person posting the ad said that this old apartment building has a red book in the owner's name, the buyer can conveniently do business, trade or rent out the premises for 25 million VND/month.

According to Lao Dong reporters, the No. 11 Vong Duc apartment complex (also known as the old Dien Co apartment complex), built in the 1960s, is currently seriously degraded but the real estate value here is still increasing due to its prime location. Notably, many small apartments here are being sold for 100 - 150 million VND/m2 or more.

Mr. Tran Hoang (real estate broker in Hanoi) informed that during the use, many collective houses in Vong Duc were expanded by the residents, expanding the usable area. Then they were put up for sale at prices comparable to luxury apartments, ranging from 100-330 million VND/m2, depending on the location.

a
Narrow entrance at Vong Duc apartment building (Hoan Kiem district, Hanoi). Photo: Thu Giang

Many real estate experts say that the fact that many old collective houses are becoming a popular segment is due to their location in the center of the capital. In addition, the supply of new housing is increasingly scarce, so the demand for housing types is increasing, especially in inner-city districts.

Referring to this content, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that in the past, old apartment buildings were not pushed up in price, because the city's renovation projects had lasted too long and were constantly behind schedule.

However, recently, after Hanoi City determined to promote the renovation and reconstruction of old apartment buildings, along with an attractive compensation, support and resettlement plan on site that was put forward for residents' opinions, the apartments here are receiving the attention of investors.

According to experts, many old apartment buildings in Hanoi are being classified as being soon renovated and rebuilt, and have detailed plans, so they have a better chance of being implemented soon, speeding up the progress.

Ben trong nha tap the Vong Duc (quan Hoan Kiem, Ha Noi). Anh: Thu Giang
Dark, damp interior scene at Vong Duc apartment building (Hoan Kiem district, Hanoi). Photo: Thu Giang
Thu Giang
TIN LIÊN QUAN

Withdrawal, not daring to buy golden land apartment in 2 districts in Hanoi

|

Hanoi - Many investors have had to quickly withdraw as long-standing apartment buildings in Dong Da and Cau Giay districts are seriously deteriorating.

Old apartment buildings in 2 districts in Hanoi are priced at over 60 million VND/m2

|

Hanoi - Many old apartment buildings in Dong Da and Cau Giay districts are being advertised for over 60 million VND/m2 on social networks.

Old apartment building on prime land in Ba Dinh district for sale for 3 billion VND

|

Hanoi - Many old apartment buildings such as Giang Vo and Thanh Cong (Ba Dinh district) are being sold by their owners for more than 3 billion VND/unit.

Coffee shop fire in Ho Chi Minh City

|

HCMC - A fire broke out at a coffee shop on Nguyen Van Ba Street (Thu Duc City), causing many people to flee, fortunately no one was injured or killed.

Cases where officials are not allowed to retire early in Hanoi

|

Hanoi - The city does not consider or resolve cases of voluntary applications for early retirement but are assessed to have outstanding abilities.

Gold prices drop sharply, dizzy with losses after a day of buying

|

Domestic gold prices fell sharply, causing losses of up to VND5.7 million/tael after just over a day for investors.

Binh Dinh will handle officials who are negligent in their work when restructuring the apparatus

|

Binh Dinh - On March 21, the 13th term of the People's Council of Binh Dinh province, term 2021 - 2026, held the 22nd Session (special session).

Identifying the identities of 5 victims of the boat sinking in Quang Nam

|

The Quang Nam Border Guard Command has identified 1 fisherman who died and 4 fishermen who went missing due to a sunken boat at noon on March 21.

Withdrawal, not daring to buy golden land apartment in 2 districts in Hanoi

Thu Giang |

Hanoi - Many investors have had to quickly withdraw as long-standing apartment buildings in Dong Da and Cau Giay districts are seriously deteriorating.

Old apartment buildings in 2 districts in Hanoi are priced at over 60 million VND/m2

Thu Giang |

Hanoi - Many old apartment buildings in Dong Da and Cau Giay districts are being advertised for over 60 million VND/m2 on social networks.

Old apartment building on prime land in Ba Dinh district for sale for 3 billion VND

Thu Giang |

Hanoi - Many old apartment buildings such as Giang Vo and Thanh Cong (Ba Dinh district) are being sold by their owners for more than 3 billion VND/unit.