Due to the recent high increase in apartment prices, Ms. Lê Hoàng Phương (born in 1988, residing in Đống Đa District, Hà Nội) has a need to find a house in a narrow alley.
According to Ms. Phương, after being guided by a real estate agent to view houses in narrow alleys in central districts such as Ba Đình, Đống Đa, Cầu Giấy... she noticed the major drawback of this segment is that the alley entrance is too narrow, fearing fires and explosions. For families who frequently travel by car like Ms. Phương, this is a significant drawback.
“Last week, I took the opportunity to visit a house in a narrow alley in Long Biên District that was being sold for 6 billion VND. With a wide land area, houses in this area are relatively spacious, and I can park my car in front of the house, so I also made a deposit because I felt it was suitable" - Ms. Phương said.
Ms. Lê Hoàng Phương also mentioned that she is looking for a house in a narrow alley where she can park her car in front of the house, Mr. Nguyễn Văn Mạnh (from Hà Nam Province) said that this segment is quite difficult to find, and if found, it must be paid at a very high price due to the limited land area in the inner city.
Recently, Mr. Mạnh has also been asking his acquaintances to buy land for a house in a wide and spacious alley in outer districts such as Hà Đông, Hoài Đức, Đông Anh... to meet his needs of living and working.
According to Onehousing's report, from 2020 to date, the average price of land for houses in narrow alleys in Hà Nội has increased by an average of 2.9-8% per year.
Notably, from the beginning of 2024 to date, the total number of land transactions for houses in Hà Nội has reached 22,000 units, increasing sharply in April, then decreasing gradually in May-June 2024. Onehousing also predicts that in the last six months of 2024, the Hà Nội real estate market is expected to record 23,000 transactions, mainly in the East and West areas.
Sharing about the increase in land transactions for houses in narrow alleys, Mr. Trần Quang Trung - Director of Business Development at OneHousing - stated that this segment is for customers who prefer "stable and secure" living, with a habit of living in houses on the ground floor.
This expert believes that for customers and investors, the risk factor for this product is zero. If there is any, it is only a matter of concern for investors to consider when buying in which district, area, and security.
For this segment, investors should carefully consider and avoid buying houses in narrow alleys that are too deep or too small to avoid potential risks such as fires, explosions, and difficulty for fire trucks to access, and also pay attention to security, safety, and amenities.
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