In fact, the price of real estate in Hanoi has increased at a high level beyond the financial capacity of many people. For this reason, many people who do not have enough money to dream of settling down have turned to lower-priced housing types such as houses without red books.
Currently, on real estate trading groups in Hanoi, there are constantly posting information about selling many houses in alleys without red books. Although the prices of these houses are cheaper than those with red books, the prices offered are not small numbers.
For example, a house in an alley in Tan Mai (Hoang Mai, Hanoi) without a certificate of ownership, 21 square meters wide, is being offered for sale at a price of 2.55 billion VND, equivalent to more than 121 million VND/square meter. According to the broker, the house has 4 floors, 2 bedrooms, and many amenities such as being close to schools, markets, etc. The house in this alley has paid full taxes, has a land certificate, and is transacted through a notarized document.
Another house in the alley at 99 Dinh Cong Ha (Hoang Mai, Hanoi) without a red book was bought and sold through the form of a notarized document. The house has an area of 53 square meters, including 2.5 floors with two bedrooms. The house in this alley is being sold by a broker for 3.4 billion VND, equivalent to more than 64 million VND/square meter. This price can be negotiated if the buyer is of good will. Although the house does not have a red book, the broker still firmly asserts that it has "full papers".
Or the house in the alley at 509 Vu Tong Phan (Thanh Xuan, Hanoi) without a red book with an area of 38m2 is also being sold for more than 3.5 billion VND, equivalent to about more than 92 million VND/m2. The house has 4 floors with 4 bedrooms. Modern design, each floor is divided into 2 bathrooms and a staircase in the middle.
"This house will be sold through a notarized document. Customers can rest assured because the house pays taxes in full and is not subject to planning," said this broker.
According to the Vietnam Association of Realtors (VARS), houses in alleys are considered to have good liquidity, complete legal documents, and affordable prices. They bring high rental yields in the context of increasing demand for renting and buying houses for living.
VARS research data shows that the prices of individual houses being traded have increased by 5-15% compared to the end of last year. Although the price increase here still has many unusual signs, it cannot be denied that the large amount of interest and transactions are real.
According to VARS experts, housing prices in the inner city will hardly decrease. People with real housing needs should consider putting money down to buy a house if they find a product that suits their financial capacity, which means not borrowing too much.
Talking to Lao Dong Newspaper, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - said that currently, many people with real housing needs but low finances have chosen to buy houses without red books. Some investors who like adventure also choose this segment because if they have the opportunity to get a red book, they will make a big profit.
"However, when choosing a house without a red book, buyers need to carefully research the legal information of the house, the terms of the contract, and the form of notarization to avoid risks," Mr. Diep recommended.
