The demand for home ownership in Ho Chi Minh City is always very high. With less than 2 billion VND, people can buy older apartments or one-bedroom apartments. However, there are also many options available in the townhouse segment.
There are still quite a few townhouses priced under 2 billion VND in Ho Chi Minh City.
Mr. Nguyen H. stated that he is selling a 28 m2 house located in alley 100, street number 8 (Binh Hung Hoa B ward, Binh Tan district). The house has 3 bedrooms, and the alley in front of the house is 3.5 m wide.
“ My house was granted a land ownership certificate in 2014, but it's a shared certificate. The house was renovated and refurbished in 2020. I'm selling it for 1.65 billion VND, negotiable with serious buyers, ” Mr. H. said.
Mr. Le Hoang L. shared that he is selling a two-story house with an area of 24 square meters located on Ba Thang Hai Street, Ward 14, District 10. The house has two bedrooms and is being offered for sale at 1.78 billion VND.
According to VTC News reporters in Ho Chi Minh City, if buyers want to own a house for under 2 billion VND with a large area, they can choose houses located far from the city center. A typical example is the house of Mr. Nguyen Xuan T. on Lai Hung Cuong Street (Vinh Loc B commune, Binh Chanh district), which is being offered for sale at 1.6 billion VND. This house has an area of 36 m2 and is built over two floors.
Meanwhile, Mr. Thanh P.'s two-story house on HT07 street (Hiep Thanh ward, District 12) has an area of 58 m2 and is being offered for sale at 1.5 billion VND. The reason this house has a "low" price is because its legal status is a shared ownership certificate.
Houses priced under 2 billion VND in Ho Chi Minh City often have small areas or share ownership certificates. (Photo: D.V)
Speaking to VTC News, real estate expert Nguyen Duy Thanh, Chairman and CEO of Global Home Management Joint Stock Company, commented that people buying houses with shared ownership certificates face high risks because they cannot foresee future disputes.
" If you buy a house with a jointly owned title deed, the issue is who will hold the deed. If multiple people are listed on the deed, buying, selling, and transferring ownership will face obstacles if one of the co-owners encounters legal trouble, debt, or disputes ," Mr. Thanh said.
Sharing Mr. Thanh's view, legal expert Nguyen Tan Phong, a standing member of the Vietnam Real Estate Brokers Association, believes that with co-owned real estate, the transaction risks are very high. When it comes to buying, selling, transferring, or mortgaging, individuals will have their rights significantly restricted, even the collective ownership of the property.
" Buying a co-owned house is very difficult; if you're short on cash, you can't mortgage it to borrow money. If one of the co-owners faces legal risks, is involved in a dispute, or dies, the transaction becomes very complicated ," Mr. Phong shared.
In addition, buying a house with a shared ownership certificate also comes with many other limitations, typically that many houses at the same address will be assigned one water meter and one electricity meter. This means that electricity and water usage will be higher than normal, leading to residents paying higher living expenses compared to other households.
Houses with shared ownership certificates will also affect infrastructure and disrupt local land use and construction plans.
According to Mr. Phong, in reality, many people still accept buying houses with shared ownership certificates despite the associated risks because the value of these houses suits their budget. In the future, houses with shared ownership certificates will continue to exist because they do not violate land law or housing law.
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