In recent years, the concept of abandoned houses, abandoned villas, and abandoned urban areas has become increasingly familiar and popular. Even in large cities like Hanoi, it is not difficult to encounter this situation.
The above reality shows an ironic paradox that many houses are abandoned while many people are struggling, working their whole lives but still cannot afford to buy a house.
Mr. Nguyen Van Dung (31 years old, Dong Da district, Hanoi) is a sales employee, with an unstable monthly salary ranging from 12-15 million VND.
Mr. Dung hopes to buy a house in Hanoi to settle down, but with his current small savings, it is extremely difficult.
"If I choose to buy a house, I can only buy one far from the city center or buy an old apartment with 1 bedroom. Buying a house or a new apartment with 2-3 bedrooms is impossible," said Mr. Dung.
In contrast to Mr. Dung, Ms. Le Thi Ngoc (in Thanh Xuan district, Hanoi) said that she bought a 58m2 apartment with 2 bedrooms at Hateco Xuan Phuong apartment building (Nam Tu Liem district, Hanoi) since the end of 2022 for 2.1 billion VND.
“At the beginning of 2024, there was a customer who offered 2.8 billion VND, I planned to sell immediately. However, after knowing that apartment prices kept increasing, I had no intention of selling anymore. In August 2024, there was a customer who offered me nearly 3.3 billion VND, but I did not sell and waited for the price to increase further to make a profit,” Ms. Ngoc confided.
Ms. Bich Hang said that after more than 2 years of buying a 66m2 apartment at The Golden An Khanh apartment building (Hoai Duc, Hanoi) for 1.8 billion VND, the apartment has now increased in price to 2.6 billion VND but she still has no intention of selling.
Dat Xanh Services Institute of Economics - Finance - Real Estate (DXS - FERI) once pointed out that in the Hanoi real estate market, there is a phenomenon of many customers paying early due to the fear of missing out, in the context of continuously increasing apartment prices.
Many people are restless with the news of skyrocketing house prices, and speculators are also taking advantage of this opportunity to buy up properties.
At a recent press conference, Deputy Minister of Construction Nguyen Viet Hung said that stabilizing the real estate market for sustainable development and allowing people to buy houses at reasonable prices is the goal of the Ministry of Construction. Achieving this goal requires many synchronous solutions regarding land and fiscal policies.
Assessing the real estate market and housing prices in recent times, Deputy Minister of Construction said that unreasonably high housing prices are partly due to speculation and psychology.
Explaining further the reasons for the increase in housing prices, Mr. Vuong Duy Dung - Deputy Director of the Department of Housing and Real Estate Market Management, Ministry of Construction - said that housing prices increased due to many different reasons. Prices also increased due to fluctuations in input costs of projects such as land and construction costs.
In addition, although the real estate supply in the third quarter of 2024 increased, it was not significant. The limited supply while the demand was high led to speculators and brokers having the motive to disrupt the market to inflate prices.
“Some other business sectors are not favorable, people still choose real estate for investment, so the capital flow to real estate makes this market fluctuate,” said Mr. Dung.
