Less than 3 km from Hoa Binh Hydropower Plant, the Experts' Collective Housing Area with more than 30 rows of houses, located on Hill 79 in Hoa Binh Ward, Phu Tho Province (before the merger, it was Huu Nghi Ward, Hoa Binh City).
This was once a residence for Soviet experts during the construction period of the Hoa Binh Hydropower Project.
After the project was completed, the collective housing area was handed over to the old Hoa Binh province (now under Phu Tho province) for management and is currently managed by Hoa Binh Housing and Construction Development Investment Joint Stock Company.
In late November 2025, the reporter's records showed that although old apartments in this apartment complex have deteriorated, they are still sought after by many people thanks to their favorable location and low prices.
Apartments around 100 million VND especially attract attention and become the choice of many local people.
Ms. Nguyen Thanh Tu (name of the character requested to be changed), a resident of block A35, is selling a first-floor apartment with an area of 30 m2. She said the asking price was 115 million VND; equivalent to more than 3.8 million VND/m2.
"If the customers are willing to close in November, I will reduce it further," she said.
According to Ms. Tu, most of the apartments were built more than 40 years ago, so they are all dilapidated, but the apartment has been renovated, so the price is slightly higher than the general level.
From a market perspective, Mr. Nguyen Tien - a real estate broker in Hoa Binh ward said that the demand for buying at the Experts' collective housing area mostly comes from low-income households and young couples.
"A single apartment with an area of 32-38-40 m2 currently costs from 50-120 million VND/apartment. Joint apartments with an area of 68 70 m2 range from 80-250 million VND/apartment.
The difference mainly depends on the location, floor and whether the homeowner has left furniture or has invested in repairs or not. When making the transaction, the buyer only needs to transfer the rental contract name," said Mr. Tien.
According to the reporter's investigation, all apartments in the Experts' collective housing area do not have land use right certificates. The transaction is essentially a transfer of a rental contract via handwritten documents.
After receiving the apartment, users still have to pay the management unit, from 100,000 - 500,000 VND/month depending on the area, floor and each row of house.
On November 29, speaking with reporters, Mr. Dang Dinh Son - Permanent Vice Chairman of the People's Committee of Hoa Binh Ward, Phu Tho Province - said that this housing area has existed for more than 40 years, while the management work still faces some difficulties, arising problems that need to be gradually resolved.
However, the apartment complex is not yet subject to emergency relocation, so the authorities will continue to review and gradually rectify the management and use of housing here.
"The province has assigned the Department of Construction to review the entire status of the apartment complex to propose a suitable management plan," Mr. Son informed.
