Aspiration to have a house in Hanoi
Mr. Pham Van Thanh (from Xuan Truong, Nam Dinh) graduated and has been working in Hanoi for more than 4 years, aiming to buy a house before starting a family. However, the increasingly high price of real estate is making it difficult for him to achieve his goals.
Meanwhile, Ms. Nguyen Thi Hoai Thu (24 years old, from Phu Tho) is working as an office worker for a company in Thanh Xuan district, Hanoi with a salary of 12 million VND/month.
With my current income, I find it really difficult to save enough money to buy a house, especially when house prices are constantly climbing. Every month, I have to spend about 7 million VND on food, accommodation and personal expenses. After deducting all expenses, I only have a small amount of savings left, it will probably be a long time before I can think about owning an apartment" - Ms. Thu said.
Ms. Thu said that if she wants to buy a house in Hanoi, she will have to do many other jobs to increase her income, but it will be a waste of effort and time.
In fact, housing prices have increased due to many reasons such as legal problems, speculation, price inflation, price hike or supply shortage...
The increase in housing prices makes it difficult for people with low incomes and average incomes to access.
Dr. Nguyen Van Dinh - Vice President of the Vietnam Real Estate Association (VNREA) - said that in 2024, the Hanoi market will record about 19,000 new products, about 70% higher than the total supply in 2023.
However, up to 88% of the supply is high-rise, coming from high-end, luxury projects of large investors in the East and West of Hanoi. The affordable apartment segment is completely "off", mid-range apartments are starting to be scarce.
In addition to scarce supply, Mr. Le Dinh Chung - Member of the VARS Market Research Working Group - commented that in the coming years, the "thirst" for apartments in the inner city center will continue, because currently the land fund is exhausted, many projects with legal problems cannot be resolved immediately.
Unable to hand over
It is worth mentioning that while supply is scarce, many projects, although completed, have not been completed to hand over to the people.
Along To Huu Street (Ha Dong District) has developed rapidly in recent years, many new apartment buildings have sprung up right next to the road.
It is a pity that there are still apartment buildings that have been under construction for a decade but are still unfinished and have to pay in half.
According to Lao Dong reporters, after more than 10 years of abandonment, the cement blocks of the Van Khe urban area expansion project (Usilk City) are gradually changing color, many places are severely damaged.
The project started in 2008, but so far only 3 buildings in CT1 cluster, 101-102-103, have been handed over, the remaining buildings are still unfinished and cannot be handed over.
Of which, building 104-CT1 has completed the rough construction (tower A 50 floors and tower B 33 floors), but has not yet completed the legal procedures.
Sharing with Lao Dong reporter, Ms. Doan Thi Hong Hanh (Dai Mo ward, Nam Tu Liem district, Hanoi) said that she had paid 95% of the house purchase (VND2.8 billion) but had not received the house even though it was under the contract, she would receive the house in June 2023.
Without a place to live, Ms. Hanh's family had to rent a house, paying the principal and interest of the bank, the rent... nearly 20 million VND each month, making her family's life extremely difficult.
Ms. Nguyen Thi Thoa (residing at 445 Nguyen Trai, Thanh Xuan Nam Ward, Hanoi) said that she bought the house in the form of apartment transfer.
Although the contract clearly states the handover schedule from the fourth quarter of 2022 and at the latest until the first quarter of 2023, it has so far stopped at the level of rough construction, some locations have been completed but at the basic level is insignificant and from the 2nd floor and above, there are no rooms.
Or the Hattoco project, new name is Golden Millennium Tower (110 Tran Phu Street, Ha Dong District, Hanoi) has been in development for 15 years, but more than 300 customers have not been able to receive the house.
Recorded here shows that the outside of the corrugated iron fence is surrounded, while inside the construction site there is garbage and steel.
Up to now, the project has completed the rough construction of more than 30 floors but has been suspended for a long time. Many of the project's steel have rusted, the construction site is deserted.
