Talking to Lao Dong reporter, Mr. Tran Van Hung (renting a room in Thanh Xuan district) shared that he and his wife were surprised when housing prices in Hanoi recently increased rapidly, fluctuating at 4-6 billion VND/unit in the inner city, depending on the segment.
According to Mr. Hung, not only in the inner city, many commercial houses in the suburbs have also recently seen skyrocketing prices. Recently, his family has been looking to buy apartments with a selling price of 2-3 billion VND, suitable for financial needs in Hoai Duc district.
"In 2021, the price of a 2-bedroom house in the inner city was only about 2-2.5 billion VND/unit, depending on the area. Up to now, the selling price of commercial housing is fluctuating around 4-6 billion VND/unit, nearly doubling and showing no signs of stopping" - Mr. Hung added.
Due to the high price in the inner city, Mr. Nguyen Trung Kien's family (renting a house in Cau Giay district) has had to search for a commercial house in suburban districts of Hanoi such as Ha Dong, Hoai Duc, Thanh Tri, Nam Tu Liem for several months now, with a price of 2-3 billion VND/house.
Many real estate experts recently commented that although apartment prices have temporarily calmed down compared to a few months ago, they are still sky-high, beyond the means of those with real housing needs.
While many brokers also admit that a paradox is occurring when the demand for housing and apartment transactions increases at the end of the year, especially near Tet, many projects have had no transactions for several months now.
Many real estate experts predict that if the housing segment in Hanoi in particular and other residential real estate segments continue to increase in price, in the long term, it will cause great instability for the market.
According to experts, management agencies need to soon take measures to "clear" the way for the affordable commercial housing and social housing segments. Along with that, investors need to step up research and product development in line with trends and affordability of the majority of people.
Dr. Nguyen Van Dinh - Vice President of the Vietnam Real Estate Association - said that legal problems of real estate projects lead to a shortage of supply, pushing up real estate prices. After nearly 3 years when the market lacked projects, the price of apartments and land in Hanoi increased by 40 - 50%.
According to Mr. Dinh, due to the huge demand in the market while the supply of goods and projects is very scarce, it has led to the situation where brokers, trading floors, project investors, and people with supply sources have built prices with large profit margins, leading to prices being too high.
