After a period of continuous growth, at the end of 2024, the apartment market in Hanoi began to show signs of cooling down. Many people began to look to buy apartments priced at around 3 billion VND.
With a child about to enter university, Mr. Pham Tien (46 years old, from Hung Yen) has been urgently looking to buy a house in Hanoi. It is known that the total amount of money he has at this time is more than 3 billion VND. He determined that if he could not find an apartment near the city center, he would also decide to buy apartments for his child in the suburbs.
“Realizing that house prices were on a downward trend, my wife and I decided to take advantage of the opportunity to look for a purchase with the principle that if we liked it, we would close the deal immediately. Luckily, with a price of about 3 billion VND, we did not have too much difficulty in searching,” Mr. Tien shared.
Currently, Mr. Tien's family has found a suitable apartment in Thanh Xuan district (Hanoi). He said he will quickly complete the procedures for handing over the house.
Similarly, since the beginning of last month, Ms. Phuong Huyen (39 years old, from Thai Binh) has also been rushing to prepare money to invest in a new house. “More than 2 billion VND is all the money my husband and I have saved in the past time. I plan to borrow more to buy a house at this time” - Ms. Huyen said.
It is known that a few days ago, Ms. Huyen bought a 55m2 apartment for 3.3 billion VND in Dinh Cong ward (Hoang Mai district, Hanoi). She and her husband plan to rent out the apartment for passive income.
According to a survey by Lao Dong reporters, most of the apartment buildings with apartments costing around 3 billion VND are located far from the center of Hanoi, usually in Hoang Mai district, Ha Dong district, Thanh Tri district, Gia Lam district...
Some typical projects with prices of around 3 billion VND/apartment currently include: Thanh Ha Urban Area in Ha Dong, Xa La Urban Area in Ha Dong, Linh Dam Urban Area in Hoang Mai District, Tu Hiep Plaza Apartment in Thanh Tri...
Currently, the real estate market mainly records the appearance of high-end and luxury projects, while products in the mid-range and affordable segments are becoming rare. In the central districts of Hanoi, commercial apartments priced under VND35 million/m2 are almost gone, instead, new products are offered at quite high prices, ranging from VND60-120 million/m2.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Association of Real Estate Brokers (VARS) - shared that to reduce apartment prices in Hanoi, efforts need to be made to speed up the progress of social housing construction projects.
Proactively regulate supply by effectively using planning tools, adjusting planning, and allocating additional clean land funds to help investors implement social housing projects as soon as planning is established.
At the same time, people must have the opportunity to know and contribute ideas to land use planning and plans, so that land is used for the right purpose, economically, and to maximize its value.
