Some apartment projects near the Nhon - Hanoi railway line have seen price increases of 30-50% compared to the same period last year. This is double the increase compared to typical projects.
Apartments near the Nhon - Hanoi railway line see a 30-50% price increase after one year.
Some apartment projects near the Nhon - Hanoi railway line have seen price increases of 30-50% compared to the same period last year. This is double the increase compared to typical projects.
If apartment prices near the Cat Linh - Ha Dong railway line have already risen to 55-70 million VND/m2, then projects surrounding the Nhon - Hanoi Station railway line also have equally high prices, or even sharper increases.
According to research by reporters from Baodautu.vn , the current price of apartments at Vinhomes Metropolis (Ngoc Khanh ward, Ba Dinh district) mostly ranges from 140 to 165 million VND/m2. For apartments with prime locations and delivered with high-end interior furnishings, the price can even reach over 200 million VND/m2.
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| The Vinhomes Metropolis project is located right next to Kim Mã station. Photo: Thanh Vũ |
Meanwhile, last November, buyers could still find apartments priced at 90-130 million VND/m2. Thus, it is estimated that after one year, apartment prices here have increased by approximately 50%. Previously, at the end of 2018 – the time of handover – apartment prices here were only from 65-100 million VND/m2.
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| Kim Mã Station is one of four underground stations on the Nhổn - Hanoi Station railway line. Construction is currently ongoing. Photo: Thanh Vũ |
Vinhomes Metropolis project boasts a relatively prime location, situated just 300 meters from Kim Ma station and near many iconic landmarks such as Lotte Center and Daewoo Hotel. Furthermore, the project offers views of three surrounding lakes: Giang Vo Lake, Thu Le Lake, and Ngoc Khanh Lake.
Located approximately 500 meters from Nhổn train station, apartments at the Hateco Apollo Xuân Phương project (Xuân Phương ward, Nam Từ Liêm district) are being offered for sale by brokers at around 55-58 million VND/m2. Compared to November 2023, when prices were only around 35-38 million VND/m2, the selling price has increased by 57% year-on-year.
Previously, when the developer Hateco began handing over apartments in 2019, the price was only around 25-26 million VND/m2. At the time of launch in 2017, the price was also only around 21 million VND/m2.
Hoang Thanh Pearl apartment complex (Cau Dien ward, Nam Tu Liem district) is located only about 400 meters from Cau Dien train station. Currently, some real estate agents are advertising prices at 65-75 million VND/m2. Compared to the 44-49 million VND/m2 of the same period last year, the price has increased by about 30%. In the first sales phase in 2022, the investor, Hanoi Transformer and Electrical Materials Manufacturing Joint Stock Company, only set the selling price at 44-49 million VND/m2.
The Nhon - Hanoi Station railway line is 12.5 km long, with 8 elevated stations and 4 underground stations. The 8.5 km elevated section from Nhon to Cau Giay was commercialized in August 2024. The entire railway line is expected to be completed by 2027.
According to Savills, in the third quarter of 2024, the prices of apartments located within a 500-meter radius of stations on the Nhon - Cau Giay line increased by over 40% compared to the same period last year. Meanwhile, other projects only recorded an average increase of about 25-35% depending on location. This shows that the advantage of the stations has helped real estate prices in the surrounding areas increase 5-15% higher than the overall price increase.
“The urban railway line will contribute to increasing the value of real estate along the route. More importantly, this transportation project will significantly improve the social life of Hanoi residents,” assessed Ms. Nguyen Thi Hong Van, Deputy Director, Valuation and Consulting Department, Savills.
Surveys show that previously, the average annual increase in apartment prices near the Nhon - Hanoi railway line was only about 10-15%. However, in the period from 2023-2024, the increase has jumped to 30-50%. This figure is amplified by the "apartment boom" earlier this year, due to a shortage of supply and scarcity of affordable housing.
Furthermore, part of the reason for the skyrocketing apartment prices also stems from investors in the secondary market. Located about 100 meters from Thai Ha station, the Discovery Complex project (Dich Vong ward, Cau Giay district) is a typical example. Apartment prices there are fluctuating in a way that varies from place to place.
Upon contacting the sellers, the reporter learned that current prices are around 57-65 million VND/m2, an increase of approximately 25% compared to the same period last year. However, some other apartments are being advertised for sale at up to 70-80 million VND/m2, corresponding to an increase of 53-55% compared to the previous year.
It is known that these apartments were bought up by organizations and individuals, renovated, and furnished with new interiors, then resold at a profit. Buyers looking for a place to live need to research thoroughly and consult various sources of information to find an apartment at a price that suits their needs. Furthermore, buyers should note that the Discovery Complex project has not yet issued land ownership certificates to residents, even though the developer handed over the apartments in 2017.
Source: https://baodautu.vn/batdongsan/chung-cu-gan-tuyen-duong-sat-nhon---ga-ha-noi-tang-gia-30-50-sau-mot-nam-d229524.html
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