Lost several hundred million dong in "difference" to buy luxury apartment

According to a recent report by the Ministry of Construction , in the third quarter of this year, apartment prices continued to increase. In Hanoi, the average selling price of newly opened apartments reached 95 million VND/m2. Notably, more than 43% of these projects had a selling price of over 120 million VND/m2.

High prices have slowed down the buying and selling. But it is worth mentioning that some luxury apartments are being advertised for sale at a higher price. That is, in addition to the amount of money according to the sales contract that the buyer must pay to the investor, people have to pay an additional amount outside the contract, about several hundred million VND, to be able to buy the apartment.

Recently, many people who want to buy a house are surprised when the selling price of apartments, although anchored at a high level, in some projects, they cannot easily buy at the original listed price.

"The products are hot right from the start, every apartment will have a price difference, there is no apartment without a price difference, the difference is from 250 - 300 million VND, depending on the apartment", said the broker.

Buying real estate and having to pay extra money outside the sales contract used to be common 5 to 7 years ago. But this phenomenon usually only happened with cheap, affordable apartments, with limited quantity.

As for high-end real estate, which is often difficult to sell, the developer must offer many discount and incentive policies to find customers. Therefore, the fact that high-end apartments are sold by collecting price difference has surprised home buyers.

Since the third quarter of this year, many housing projects in Hanoi have completed legal procedures. The supply of new apartments has increased by 10% compared to the same period last year. Therefore, it is inappropriate for some trading floors and brokers to use the scarcity of supply as an excuse to push up prices.

Ms. Nguyen Hoai An - Director of CBRE Hanoi Company said: "The total supply of apartments is over 30,000 this year, the quantity is very abundant. However, somewhere a few projects with high price thresholds have a slower selling speed."

A representative of the Vietnam Real Estate Association frankly stated: There is a phenomenon of some investors combining with distribution floors to control supply by releasing products in small drops, creating a false sense of scarcity to stimulate customers' buying psychology.

Mr. Nguyen Van Dinh - Vice President of Vietnam Real Estate Association commented: "Many projects do not lack products, but are creating a phenomenon of shortage, out of stock, and scarcity, with the purpose of increasing selling prices. Anything that creates negative effects on the market, we resolutely oppose."

In Hanoi, a newly opened apartment of about 60 square meters is about 6 billion VND. A price that most people can hardly afford. Not to mention, they may have to lose the difference. Many experts believe that with the current price level and sales method, the cash flow in the real estate market is very likely to fall into a situation where it is almost only circulating between investors and speculators. Meanwhile, it is very difficult to approach home buyers.

Source: https://vtv.vn/mat-vai-tram-trieu-dong-tien-chenh-de-mua-chung-cu-cao-cap-100251104094622515.htm