Inside old social housing apartments priced at 4 billion VND in Hanoi
NGỌC THÙY |
Although they have been handed over since 2016, some old social housing apartments in Hanoi have continuously increased in price, approaching that of commercial apartments.
The NOXH project 987 Tam Trinh,Yen So (Hoang Mai, Hanoi) at the end of 2017 had a selling price of about 14.2 million VND/m2 (excluding VAT). Meanwhile, commercial apartments in the same project had a price of about 18 million VND/m2. Currently, apartments here are being sold at prices ranging from 52 - 56 million VND/m2.Although many items have deteriorated due to time, the apartments at the 987 Tam Trinh social housing project have continued to increase in price.Mr. Dinh Xuan Hoa (Ha Nam) said that after 2 months of searching and not being able to buy a commercial apartment due to high prices, he came to the 987 Tam Trinh project and was very surprised at the price: "Although it has been in operation since around 2017 until now, the quality of the houses is no longer as good as new, but the price of houses here is still over 50 million VND/m2. My wife and I heard from brokers that the price is still increasing every day because Tam Trinh road is being rebuilt, traffic will be more convenient in the future.Similarly, the NOXH Rice City – Tay Nam Linh Dam project (Hoang Liet ward, Hoang Mai district), when it opened for sale in 2015, had a price of nearly 15 million VND/m2. Up to now, after 9 years, NOXH apartments here are being sold at 54 – 59 million VND/m2.Inside a 2-bedroom apartment on the 20th floor of Rice City apartment building – Tay Nam Linh Dam. With an area of 62 square meters, this apartment is being offered for sale at 4 billion VND. (Photo provided by real estate broker)."Due to the high demand for housing but the scarcity of apartments, social housing apartments like this one, even though they have been built for many years, are still valuable. This apartment is selling for 4 billion VND, but the owner still requires the buyer to pay a transfer fee of about 30 million VND. Only when many social housing projects are granted construction permits will the "fever" of apartment buildings have a chance to stop," said Mr. The Hien, a broker at a real estate website.
According to the list of housing and urban area projects under the 2021-2025 Development Plan (Phase 3) recently approved by the Hanoi People's Committee, the city will have 6 more social housing projects. The projects have a total area of nearly 13 hectares in Ba Dinh, Long Bien districts and Thanh Tri and Thach That districts.
These projects will provide the market with more than 8,300 apartments, equivalent to more than 655,000 m2 of floor space. The total investment is nearly 6,000 billion VND. Most of the projects have completed site clearance, are being implemented and are expected to be completed in the period 2026-2029.
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