According to a survey by Lao Dong, in Duong Noi urban area (Ha Dong district, Hanoi), a series of townhouses and villas are abandoned and uninhabited.
The Duong Noi urban area project (Ha Dong district, Hanoi) is built on a land area of 77.3 hectares with a scale of 4 subdivisions: Duong Noi Urban Area 1, 2, 3, 4 (division A, B, C, D). These villas were roughly completed in 2018, but most of them are now abandoned and wasted.
Not only Duong Noi urban area, in Ha Dong there are also many abandoned villas in Van Phu, Phu Luong and Kien Hung. next to it are auctioned and service land that has been left unused for a decade but has not been built.
According to research, the price of townhouses and villas in this project is advertised for sale at about 150 - 320 million VND/m2.
For example, a 250m2 villa on the surface of Duong Noi Lake is being offered for sale at a price of 80 billion VND, equivalent to 320 million VND/m2.
In addition, a 180m2, 4-storey Villa on 40m Le Quang Dao street is being offered for sale at VND54 billion, equivalent to VND300 million/m2.
Mr. Tran Van Manh - a real estate broker in Hanoi - said that in 2020, townhouses and villas in Duong Noi urban area cost 50 - 90 million VND/m2, depending on location. However, up to now, the price has increased 2-3 times compared to before.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - said that the reason for the sharp increase in townhouse and villa prices in recent times is due to scarce supply. Accordingly, not only new projects but also projects that have been abandoned for many years have increased sharply in price.
Ms. Do Thu Hang - Senior Director, Research and Consulting Department, Savills Hanoi - said that in the first quarter of 2025, the villa segment under 20 billion VND has become scarce. This poses a challenge for many investors in terms of profit expectations, especially the prices of products on the market that are currently at a high level. In this context, many investors are shifting to satellite provinces with prices of 10 - 20 billion VND, the price range has now become rare in Hanoi.
Ms. Do Thu Hang warned that the current period requires investors to carefully consider the real value of the product, especially the price factor on the square meter compared to the quality of the project and the location.
