Market data from Batdongsan.com.vn shows that private houses are the segment with remarkable price growth in recent years.
According to published data, in the Hanoi area, the type of private houses and townhouses tends to increase in transaction volume and interest in all price ranges. In particular, the interest level has increased sharply in almost all districts of the capital.
In terms of price, the price of alley houses in Hanoi increased from an average of VND 95 million/m2 in the first quarter of 2021 to VND 174 million/m2 in the third quarter of 2024. Thus, the average price increase rate of private houses is quite stable.
On real estate trading floors in early December 2024, alley houses in some inner-city districts of Hanoi with prices of 5-6 billion VND/unit are being advertised for sale in the market. Towards the end of the year, when cash flow is more abundant, the number of people looking to buy houses increases significantly compared to other times of the year.
Currently, the increase in private houses in Hanoi is about 15-25% compared to half a year ago. For example, with alley houses in Nam Tu Liem or Bac Tu Liem districts, with an area of 30-40m2, the selling price has increased to a common level of 4.8-6.5 billion VND/house.
The 35-40m2 houses with cars parked at the door are being offered for sale at 7-7.8 billion VND/house. Meanwhile, the selling price of alley houses with an area of 30-38m2 in Thanh Xuan and Ha Dong districts is around 6.6-7.7 billion VND/house.
According to research, in the previous period, in 2023, the transaction volume and consumer interest focused mainly on the Hanoi alley house segment with prices under 4 billion VND/unit.
As for the Hanoi alley house segment from 5 billion VND and up, the transaction volume is much slower, but up to now (2024), the popular price range has increased to 5-6 billion VND/unit. This is the price range with the best transactions.
As the year comes to a close, the demand for housing increases, and the number of people looking to buy houses in alleys in Hanoi increases sharply compared to other times of the year. According to brokers specializing in selling this segment, the number of customers looking to buy private houses is increasing by 40-50% compared to the previous quarter.
Mr. Tran Trung Quan (42 years old, from Bac Giang) shared that nearly a week ago, he was taken by a broker to see a newly built 3-storey house in an alley on Phu Do Street (Nam Tu Liem District, Hanoi).
The house has an area of 30 m2, has basic interior finishing with 3 floors and 1 attic, located in a 2 meter wide alley, open alley. The location of the house is quite airy and is being advertised for 5.4 billion VND.
“After looking at the house and feeling it was suitable, my wife and I decided to put down a deposit. We plan to move in by the end of this month,” Mr. Quan confided.
Mr. Nguyen Cong The (38 years old) - a real estate broker in Thanh Xuan area (Hanoi) - said that besides the need to buy for real estate, a large number of customers are looking to buy houses in alleys in Hanoi at the end of the year for investment purposes.
Although there is currently no aggregated data on the actual transaction volume in the market, Mr. Nguyen The Diep - Vice President of the Hanoi Real Estate Club - acknowledged that the real estate market will often become more active towards the end of the year. However, the market only focuses on moderate-value supplies that meet real housing needs.
