According to the reporter's records, in mid-December, many urban areas with hundreds of billions of VND invested in central wards of Phu Tho province are facing a lack of residents.
Along Ly Nam De Street in Hoa Binh Ward, dozens of shophouses and villas are built spaciously but the doors are closed and locked, with overgrown weeds, mixed with signs for sale and rental, creating a desolate scene in the once bustling area.
According to research, this is a "Shophouse Commercial Housing" project invested by Golden Star Development and Construction Investment Joint Stock Company with a total investment of nearly 300 billion VND; scale of 4.06 hectares.
Mr. Hung - a long-time real estate broker in the locality, said that the houses here have been owned by them since the completion time. Townhouse prices range from 6-8 billion VND/unit, while single-parked villas cost about 13 billion VND/unit, with an area of 158m2 - 360m2 depending on location.
However, most buyers are investors for the purpose of "surfing". When the market was quiet, transactions were almost frozen, many houses fell into prolonged abandonment.
Currently living in this area, Ms. Nguyen Thu Thuy (name of the character requested to be changed) said that out of nearly 50 townhouses in the project, there are only more than a dozen houses with permanent residents.
"Most of the houses have owners, but many people have not completed the payment to receive the houses. The road surface towards the Da River has been sold out, but many houses, even though they have been bought, are still empty and have signs to resell," said Ms. Thuy.
Not only in Ly Nam De Street, a similar situation also occurs at the TSG HoaBinh Centre project along the extended Chi Lang Avenue, in Thong Nhat Ward.
The project is invested by Saigon Real Estate Joint Stock Company, including 142 shophouse lots and central premises, planned into 4 rows, each lot area ranges from 108m2 - 240m2, total scale of nearly 35,400m2.
Ms. Tuyen (living in Hanoi) - the owner of a shophouse here, said that her family received the handover of the house in early 2022 in a rough state. Each apartment is designed with 3 floors, 1 attic, a floor area of 108m2, priced at nearly 7 billion VND and has been granted a red book.
"My family has advertised and rented out many times but very few people have asked. The market area is still sparsely populated, with low business demand, so the site is difficult to exploit," Ms. Tuyen shared.
According to Ms. Tuyen, the change in administrative boundaries, in which the new administrative center of Phu Tho province (after merging the three provinces of Phu Tho, Vinh Phuc and Hoa Binh) is located in Viet Tri, also makes the real estate market in Hoa Binh ward more quiet.
In Yen Thuy commune, the reporter noted that Yen Thuy Green Bay Urban Area located right in the center of the area formerly known as Hang Tram town is in a similar situation.
Local people said that each apartment costs from 5-7 billion VND, most of which are bought by people elsewhere for investment, so few households move there to live.
Mr. Nguyen Van Tuan (Yen Thuy commune) said: "At first, there were some people renting business premises, but due to ineffectiveness, they all closed one by one".
