According to Lao Dong reporters, the private house segment in Hai Ba Trung district (Hanoi) with a price of about 5 billion VND/unit is being sought after by many people because it is cheaper than some segments such as street-front houses and inner-city apartments.
Mr. Nguyen Van Hung (35 years old, renting a house on Bach Mai street) said that with the financial resources he expected to mobilize, in the past months, he has been looking for a private house segment in an alley for about 5 billion VND/unit.
"Many houses in alleys in Hai Ba Trung district are selling for 5 billion VND/house, ranging from 120-150 million VND/m2, depending on the area. Last week, I was also taken by a real estate broker to see many private houses in alleys in Dong Da and Thanh Xuan districts" - Mr. Hung said.
Similarly, Mr. Tran Quoc Minh (a long-time real estate investor in Hanoi) said that the private house segment in Hai Ba Trung district with a price range of 5-6 billion VND/unit is having good transactions in the market.
Mr. Minh analyzed that apartment projects and townhouses continuously hit peak prices, forcing many investors like him to change direction and look to buy private houses in alleys in inner-city districts to wait for prices to increase over time.
Statistics from the website Batdongsan.com.vn recently show that the current price increase of private houses in Hanoi is about 15-25% compared to half a year ago.
According to Mr. Tran Hoang (a long-time real estate broker in Hanoi), it is undeniable that since the beginning of 2024, private house prices in Hanoi have increased sharply. However, the fact that house prices in alleys have increased, even by billions of dong in just a few months, is unreasonable.
Mr. Tran Hoang said 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 have taken advantage of it to push up prices, heating up the market for profit, making the already high house prices even higher.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that in order to buy an apartment, private house, or house in an alley without getting ripped off, buyers should proactively survey and compare house prices with similar apartments in the same project, same area, and same segment.
If you find the price difference is too high compared to the broker's price, you should consider bargaining or contact the homeowner to know the real price of the house.
Mr. Diep emphasized that it is not uncommon for brokers to use the "surfing" trick to make a profit by only depositing with the homeowner or landowner and then reselling the property. When there is a buyer, they immediately transfer the property to make a profit. Therefore, home buyers need to be alert to the tricks of real estate brokers to push up the price of the house.
