In recent years, apartments with a 50-year ownership period have gradually attracted a large number of customers in the Hanoi market. Typical examples include The Nosta 90 Duong Lang apartment building (Hanoi), Rose Town apartment building (Thanh Tri district), MHDI apartment building (Nam Tu Liem district), Phuong Dong Green apartment building (Hoang Mai district) or the Hasco high-rise apartment project in Tran Phu, Ha Dong district, Hanoi.
According to the reporter's records, a high-rise apartment building located in Van Quan ward (Ha Dong district) is constructing two buildings, 45 and 50 floors high.
Mr. Thanh Chuong - a broker - said that in the project there are only a few apartments with a 50-year ownership period left and many people are interested in finding them.
According to Mr. Chuong, the selling price of a 50-year ownership apartment is around 40 million VND/m2, much lower than the long-term apartments in the project being transferred at a transfer price of around 65 million VND/m2.
While researching the project, Mr. Nguyen Van Hung (in Ha Dong district) said he was interested in the project because the asking price was quite cheap, about 39 million VND/m2. This price is suitable for his family's payment ability.
"Compared to projects around here that are selling old houses for 65-70 million VND/m2, the 50-year ownership apartment being offered at the above project is 25-30 million VND/m2 lower. Because of the low price, there will be limitations on usage rights and I accept that" - Mr. Hung shared.
To get an apartment in the central area of Hanoi, many customers accept to buy a 50-year apartment because the price is not too high, suitable for the financial capacity of many people.
Ms. Bui Thi Mai (from Hai Phong) shared that in early 2023, she and her husband decided to buy an apartment to settle down in Hanoi. After researching several projects, they found a few satisfactory apartments. However, due to financial capacity, it was not easy for them to buy a house in the central area.
At that time, a real estate broker introduced her to a 50-year apartment project in Thanh Xuan district. This project consists of 3 apartment buildings, 2 of which have long-term pink books, priced at over 55 million VND/m2.
The apartment building has a 50-year term, and the price is much cheaper, only 35 million VND/m2. Previously, this building was licensed as an office, then the investor changed its function.
After discussing with her husband, Ms. Mai decided to buy an apartment with a 50-year ownership period. Ms. Mai said that all buildings inherit the common facilities of the project, only the ownership period is different.
"My family doesn't have enough money right now, so we'll buy it first and then convert it later when we have money," said Ms. Mai.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - analyzed that apartments with limited ownership terms have the advantage of lower selling prices compared to long-term apartments.
However, the transfer will be more difficult because the time is gradually shortened. When capital is needed, this apartment can be mortgaged to the bank for a lower amount than a long-term apartment.
