Individual house prices increased sharply
According to Economy & Urbanism, in the context of limited supply, primary apartment prices in Hanoi are "pegged" high, newly launched projects are priced in the high-end segment. While secondary apartments priced around 3 billion VND/unit are only available in districts far from the center, they are also sought after and increasingly scarce; A private house priced around 4 billion VND with an area of 30 - 40 m2 becomes an attractive choice for many families wishing to settle down.
Notably, the price increase is also driven by investment demand. Accordingly, houses in alleys are considered to be a type with good liquidity, complete legality, and affordable prices. Bringing high yields from rentals in the context of increasing demand for renting and buying houses to live in. In particular, the demand for renting retail space in small alleys has also maintained an increasing trend in recent times, as small and medium-sized enterprises plan to reduce their cost burden, in the face of a situation where revenue mainly comes from from e-commerce platforms.
Statistics from batdongsan.com.vn show that the level of interest and transactions in the type of Private House in Hanoi gradually improved in the first quarter of 2024. In particular, the level of interest has improved significantly in some suburban districts when central districts no longer have many options.
Market research data from the Vietnam Association of Real Estate Brokers (VARS) shows that the price of individual houses being traded has increased by 5 - 15% compared to the end of 2023. Although the price increase here is still There are many unusual signs, but it cannot be denied that the large amount of interest and transactions is real. In particular, in the first quarter of 2024, some real estate brokerage businesses recorded the highest number of individual housing transactions in the past 5 years.
Private houses in alleys in Hanoi continuously increase in price. Illustration photo from the internet
“The individual housing real estate market is forming a new price level, as supply continues to not be able to keep up with the needs of investors and residents - especially in the current increasingly obvious urbanization trend. now. Therefore, house prices in the inner city area will be difficult to decrease. People with real housing needs should consider putting down money to buy a house if they find a product that suits their financial ability, meaning not borrowing too much. ” – VARS Vice Chairman Nguyen Chi Thanh said.
Also according to the VARS representative, tracking the market's price increase history shows that, like the apartment segment, Hanoi residential real estate prices also recorded a similar increase at the end of 2021, until mid-2022. , when the market is difficult, the price of this type has decreased but not compared to the increase, and now it continues to increase again. Because this is the type that always maintains a fairly stable level of interest even in gloomy periods.
Strong enough policies are needed to develop social housing in urban areas
According to Youth, VARS believes that house prices in the inner city area will be difficult to decrease, so people with real housing needs should consider putting down money to buy a house if they find a product that suits their financial ability, meaning not borrowing too much. much.
Price increase history shows that like the apartment segment, residential real estate prices in Hanoi also recorded a similar increase at the end of 2021.
By mid-2022, when the market is difficult, the price of this type will decrease but not "absorb" anything compared to the increase and now continues to increase again. Because this is the type that always maintains a fairly stable level of interest even in gloomy periods.
Besides small individual houses, apartment buildings in alleys are also "hot" again as the number of people renting and looking to buy mini apartments gradually recovers.
Along with individual houses, "apartments" in narrow alleys are putting pressure on urban overload, infrastructure and common utilities, along with many risks related to fire and explosion.
Dao Vu (Synthetic)
