House price chaos in narrow alleys in Hanoi

Thu Giang |

Hanoi - Many houses in narrow alleys in Hanoi are being advertised for tens of billions of VND each, equal to the price of houses on the street.

According to Lao Dong reporters, many houses in alleys in the central district of Hanoi have recently been being sold at different prices, with some houses being "priced" by owners at hundreds of millions of VND/m2.

For example, a house in an alley on Phan Ke Binh Street (Ba Dinh District, Hanoi) with an area of ​​80 square meters is being offered for sale at a price of more than 16.5 billion VND, equivalent to nearly 206 million VND/square meter. The house is introduced by the owner as being located in the central district, with full surrounding amenities, and has a red book in the owner's name.

Or some other houses located in alleys in Cau Giay district (Hanoi) are also being offered by their owners for 15-26 billion VND/house, equal to the price of street-front houses on neighboring streets such as Xuan Thuy, Ho Tung Mau, Tran Thai Tong...

Talking to Lao Dong reporter, Mr. Nguyen Quoc Huy (45 years old, from Binh Luc district, Ha Nam) shared that he was quite surprised when many houses in narrow alleys in the inner city are currently being offered by their owners for tens of billions of VND/house.

Mr. Huy analyzed that the advantage of the central location cannot be denied, but many houses in the alley are being priced too high by owners and brokers. In fact, many houses for sale have a clear price difference even though they are located in the same narrow alley.

Real estate experts say that recently many people have been looking to buy houses in alleys with real housing needs. However, some brokers or homeowners have grasped the situation and taken advantage of this opportunity to push up prices, creating market waves.

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Many houses in alleys in Hanoi are being advertised for tens of billions of VND each. Photo: Thu Giang

A recent report by the OneHousing Center for Market Research and Customer Insights said that out of the 63% of people who want to buy real estate in 2024, most of them are interested in the land and residential housing segment.

OneHousing analyzed that residential real estate and houses in alleys are traded more because of their high stability, many advantages such as sustainable price increase, located in the center of the capital, convenient for living.

To buy the real value of the house in the alley, buyers need to consult the price at reputable brokerage firms. Currently, the price of houses in Hanoi has reached its peak, if investors want to buy at this time, they need to consider and research carefully.

Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - mentioned that the price of houses in alleys in the center of Hanoi in recent months has been sold at very high prices, with many houses costing up to tens of billions of VND.

According to Mr. Nguyen The Diep, inner-city apartments are often expensive but also have their own inconveniences. However, with the attractiveness of this type of real estate, many people have sought to buy houses in alleys at reasonable prices to suit their needs, convenient for work, and have long-term profit potential.

This expert also noted that, in addition to the strengths, home buyers in alleys in Hanoi need to consider a number of criteria such as the entrance, quality of the house, construction, legal procedures such as red books, construction permits to anticipate risks.

Thu Giang
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Thu Giang |

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Houses in alleys are on the rise, for sale at nearly 150 million VND/m2

Thu Giang |

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