"Ulcerous" houses are still popular?
The apartment building at the Nam Trung Yen resettlement project (Cau Giay, Hanoi ) is gradually deteriorating, with peeling and water seeping walls... some walls even have only a layer of cement left. Therefore, spending 3-4 billion VND to own an apartment here makes many people hesitant.
Ms. H. (a resident of building A6C) said that her family bought a 60m2 apartment for her child on the 4th floor of building D last year for 2.1 billion VND. She heard that her house is now worth 4 billion VND. “ I can’t believe that the house prices here have increased so quickly and so high, almost doubling in one year ,” Ms. H. exclaimed.
On a real estate forum, a broker is selling a 57.2m2 apartment in building A6D Nam Trung Yen for 4.1 billion VND, equivalent to more than 71 million VND/m2. The apartment is designed with two bedrooms and basic furniture.
A "peeling" house is still being sold for 4 billion. Photo: Tien Anh
According to observations, although the interior of the apartment has been repainted, there are still many cracks and peeling walls. Outside the apartment, the wall surface is rough, with cement falling off, revealing old bricks. Although located on the highest floor, the apartment is not cheap.
Ms. Lan Anh, a resident here, said that many households also take advantage of their balconies to expand their living space. With the quality of the apartment buildings being degraded like this, the expansion of balconies on upper floors can be dangerous for themselves and those living on lower floors.
" Sometimes I think I'm living in an old apartment building in Hanoi, not an apartment building in a resettlement project ," Lan Anh said.
Regarding the price offered by the broker, Ms. H. (Cau Giay, Hanoi) was skeptical: “ I think the real value of the resettlement apartment cannot be that high, especially through the broker, it is very difficult to know. Sometimes the house price is even pushed up twice the real value .”
The apartment price offered by brokers is up to 50-70 million VND/m2. Screenshot.
Here, Mr. Long also bought an apartment in building 6B, area 60m2, for 3 billion VND. Just two months later, the apartment price increased by 300 million.
“ 3 billion was 4-5 months ago, it is not at that price now. Many residents here saw the price increase so they bought more apartments to invest and make a profit, ” said Mr. Long.
Explaining why the apartment building is of poor quality but the house price is still sky-high, Ms. Phuong (resident of building D) said that it is because the building has an outdoor fire-fighting ladder, a large, airy campus; especially it has a permanent red book... so many people choose to buy it.
According to a survey, the prices of apartments in this project increase and decrease without any regularity. On the same axis and with the same area, an apartment on the 10th floor is being advertised by a broker for 4.1 billion, equivalent to 68 million VND/m2; meanwhile, an apartment on the 7th floor is being advertised for 2.7 billion, or only 45 million VND/m2.
Does price go hand in hand with quality? Photo: Tien Anh
Many households explained that after the recent super storm, many apartments here were affected such as water-soaked walls, seriously degraded, and unable to be repaired, so they had to sell and move elsewhere.
Although many apartments in A6 Nam Trung Yen apartment building have been renovated and have new interior designs, most of them are degraded, so the price level set at such a high level makes those who want to come and see it think it is "unimaginable".
Seeing the current state of the apartments here: peeling, moldy, cramped and old living space, some garbage collection areas, temporary markets... and sky-high prices, Mr. and Mrs. Lam's family (Dai Kim, Hanoi) left worried after a few rounds of consultation.
The couple was worried that their eldest son was about to get married and that it would be difficult for their children to buy a house in the future. The elderly couple went to look at old apartments, hoping to find a cheap one so they could save up and borrow more money to buy a separate one for their son. However, after many days of consultation, they could not put down a deposit because not only were the old commercial apartments, but the resettlement apartments, although degraded and old, were still beyond their ability to pay.
Source
Comment (0)