Selling price of apartments in Hanoi's suburbs reaches 90 million VND/m2

(Dan Tri Newspaper) - Many apartments in the suburban districts of Hanoi are now priced above 70 million VND/m2. Experts believe that if people only work in offices, their chances of owning a home are almost nonexistent.

Apartment prices in suburban areas exceed 70 million VND/m2.

According to a survey by Dan Tri newspaper reporters, many apartment projects in the districts surrounding Hanoi have reached prices of 70 million VND/m2.

Specifically, the Eco Green project (Tan Trieu, Thanh Tri district) is selling apartments at prices ranging from 65 million VND/m2 to 71 million VND/m2. An 85m2 apartment with 3 bedrooms is being offered for sale at over 6 billion VND, equivalent to 71 million VND/m2.

In Thanh Tri district, projects such as Housinco Premium, Tecco Diamond, and Hong Ha Eco City have selling prices ranging from 45 million VND/m2 to 56 million VND/m2. A 65m2, two-bedroom apartment in the Tecco Diamond project, despite being offered for sale urgently, is still priced at 3.65 billion VND, equivalent to over 56 million VND/m2.

In Hoai Duc district, the asking price for apartments in the An Lac Green Symphony and The Wisteria projects ranges from nearly 60 million VND/m2 to 73 million VND/m2. A 108m2, 3-bedroom apartment in The Wisteria project is being offered for sale at 7.5 billion VND, equivalent to over 69 million VND/m2.

In addition, other projects in Hoai Duc district such as Gemek Tower, The Golden An Khanh, Thang Long Capital... also have prices ranging from 43 million VND to 53 million VND/m2.

Many apartments in the suburbs of Hanoi are priced at over 70 million VND/m2 (Photo: Duong Tam).

In Gia Lam district, Vinhomes Ocean Park urban area features apartments priced from 80 million VND/m2 to over 90 million VND/m2. A 62m2, two-bedroom apartment in the Masteri Water Front project within Vinhomes Ocean Park is being offered for sale at 5.7 billion VND, equivalent to nearly 92 million VND/m2.

The seller stated that they are selling the apartment because their family needs to move to a three-bedroom apartment. The apartment has already been paid for in advance to the developer, and they are just waiting to receive the keys in November.

Additionally, some other projects in the Vinhomes Ocean Park urban area have apartment asking prices ranging from 45 million VND/m2 to 65 million VND/m2.

In Dong Anh district, the asking price for apartments at Intracom Riverside Vinh Ngoc ranges from 52-64 million VND/m2. At the CT3-CT4 apartment project in Kim Chung commune, the asking price ranges from 36 million VND/m2 to 48 million VND/m2.

Expert: If you only work in an office, the chances of owning a home are almost non-existent.

Previously, Mr. Nguyen Quoc Khanh, Vice Chairman of the Vietnam Association of Real Estate Brokers (VARS), shared that during his 15 years in the profession, what he never expected was that the price of apartments in suburban areas would reach 60-70 million VND/m2.

Mr. Khanh observed that with rising apartment prices, access to housing is becoming increasingly difficult for people, especially those with middle and low incomes. With the current average worker's salary, they would struggle to afford the bank loan interest payments if they were to buy a house.

Speaking to a reporter from Dan Tri newspaper , Mr. Le Dinh Chung, a real estate expert, said that the average price of a two-bedroom primary market apartment in Hanoi currently ranges from 4 billion to 5 billion VND, equivalent to 65-70 million VND/m2.

Meanwhile, the average income of a family in Hanoi is around 200-250 million VND per year. However, the recent increase in apartment prices has led to a rise in living expenses. As a result, people's savings have decreased due to the increased costs.

"Given the current average income and apartment prices in Hanoi, I believe that if you only work in an office, the chance of owning a home is almost nonexistent. Even if you could afford one, you would have to save for several decades," he said.

An apartment building in Hanoi (Photo: Duong Tam).

According to Dr. Nguyen Van Dinh, Chairman of the Vietnam Association of Real Estate Brokers (VARS), the supply of apartments in Hanoi has increased recently but still does not meet the needs of the people. Furthermore, the majority of new supply continues to be completed to high standards, resulting in increased investment and land costs.

With current high investment costs, developers are also expecting higher profits than before. The sharp increase in apartment prices in the primary market has led to a surge in prices in the secondary market as well.

However, Mr. Dinh assessed that the recent increase in apartment prices has been unusual, especially in Hanoi. This phenomenon is certainly influenced by vested interests while the economic context, market conditions, and people's incomes have not yet recovered. "House prices are high, but transactions are not appearing. This could be some kind of trick by a group of investors with ulterior motives," he emphasized.

Source: https://dantri.com.vn/bat-dong-san/gia-rao-ban-chung-cu-vung-ven-ha-noi-cham-nguong-90-trieu-dongm2-20241030014923376.htm