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Abandoned house but asking to buy still “screams” the price even the giants “burn their hands”

The price of townhouses and villas in many real estate projects in the West of Hanoi has doubled, in less than 2 years. Even though the houses are abandoned, the grass is overgrown, but when asked to buy, they can still “scream” the price of “burning hands”.

Adjacent prices, villas continuously increase “galloping”

The race to build new urban areas, model urban areas in the period 2008 – 2012, according to which the supply in the segment of villas and townhouses increased sharply. However, in the period of 2012 – 2013, a crisis of the real estate market occurred that engulfed many urban areas into a spiral of price slippage and illiquidity.

After a period of recovery, up to now, real estate prices in some urban areas have suddenly “upgraded”, increasing rapidly. According to a survey by PV, some urban areas in the west of Hanoi have skyrocketed prices, averaging 20-30% per year, even some apartments have doubled in less than 2 years.

Abandoned house but asking to buy still

Typically, in Van Canh urban area (Hoai Duc district), although a series of villas and townhouses are still deserted and uninhabited. However, just in the last 2 years, the price in this urban area has doubled. Notably, from the end of 2021 until now, the price has increased from about 10-20%.

Mr. Tran Vinh – broker in Hoai Duc area (Hanoi) said, 2 years ago the price in Van Canh urban area fluctuated about 40 – 65 million VND/m2. Up to now, the price in this urban area has increased more than 2 times, specifically, for apartments located on the road surface of 17.5m, the price ranges from 65 – 110 million VND/m2. As for the villas and adjacent houses located on the 30m road surface, the price is from 110 to 150 million VND/m2.

For example, a semi-detached house with an area of ​​113.8 m2 located on a 17-meter street, at the beginning of 2020 priced at about 43 million VND/m2, now the price of this adjacent house has reached 130 million VND/m2, equivalent nearly 15 billion VND.

Abandoned house, but asking to buy still

Lots of villas, adjacent “abandoned”, moss around.

Another 260 m2 villa, located on a 17-meter road, priced at 75 million VND/m2 in 2020, is now for sale for more than 130 million VND/m2, equivalent to nearly 34 billion VND.

Explaining the sudden increase in prices, Vinh said that information from Hoai Duc district to the district made the price change rapidly. Besides, in recent years, strong infrastructure construction has been deployed in this area such as the 3.5 ring road connecting the North Tu Liem, Nam Tu Liem, Hoai Duc, Ha Dong, and Thanh Tri areas and the project. extending Tran Huu Duc street with Pham Hung, making the connection between Van Canh urban area and the central area shortened in time and distance.

However, despite benefiting from infrastructure and rising prices, this urban area is still littered with villas, abandoned townhouses, and moss growing around.

Similarly, in Ha Dong district (Hanoi), the fever in the West of Hanoi in recent years has led to an increase in the prices of adjacent houses and villas in this area. Quang Anh, head of the real estate transaction office in Ha Dong, said that in Duong Noi urban area, from 2018 to now, the average annual growth rate has increased by 20-30%.

Specifically, in 2020, the price of villas and townhouses on the 17-meter road will cost about 70-90 million VND/m2, while the 11.5m wide road surface will cost about 50-60 million VND/m2. However, up to now, the price of apartments on 17m street is from 140 to 160 million VND/m2, on 11.5m street the price ranges from 100 to 120 million VND/m2.

Mr. Cuong said that the Le Quang Dao route will be extended, leading to an increase in the prices of adjacent villas and apartments. Moreover, the Aeon Mall being put into operation and the completion of the Astronomy park has become a cause of price impact in this area.

Supply continues to lack, causing prices to push up

Forecasting changes for 2022, Mr. Matthew Powell – Director of Savills Hanoi shared: “The market for villas and townhouses in Hanoi has been continuously short of primary supply for a long time.

New supply in 2022 will mainly come from large projects and urban areas outside the city center. Hanoi will help overcome this situation. Places with improved infrastructure, supply, volume of transactions, as well as selling prices will also see significant growth.”

2022 is a promising year for important infrastructure projects, connecting inner-city and suburban traffic. This will be an important factor in boosting demand when future supply comes from 13 projects located mainly in the western and eastern areas of the capital.

According to Ms. Nguyen Hong Van – Market Director, JLL Real Estate Services Company, when the real estate fever in the provinces is tended to slow down, the market has established a new price level. A large number of investors withdrew to Hanoi market. The segments they are interested in are villas, townhouses, and shophouses in the central area. Therefore, from now until the end of the year, low-rise buildings will continue to increase in price.

Abandoned house but asking to buy still

Explaining this, analysts say the advantage of synchronous infrastructure that promotes the value of the West region of the capital, including Thang Long Boulevard, To Huu – Le Van Luong route, etc. projects are being implemented such as the extended Le Quang Dao route, metro line 2A, ring road 4, ring road 3.5… expanding to connect the west with central districts and neighboring provinces.

Along with that, the products in this area are well planned, focusing on improving the quality of life of residents while ensuring comfort and freshness is also a factor that makes this area attractive.

Notably, recently, the Government issued Decree 30/2021 (amending and supplementing a number of articles of Decree 99/2015) with the regulation that only recognize investors in projects to build houses on residential or commercial land. part of residential land. The rest, all investors who only have the right to use agricultural or non-agricultural land are not allowed to implement housing projects.

In fact, most of the project land is still agricultural land, non-agricultural land, production and business land, so almost all new projects are blocked. Thus, the market’s supply in the medium term 1-3 years will continue to be scarce.

Race to hunt for land along rivers, streams, ponds, making land prices in Buon Ma Thuot also increase abnormally, virtual fever

Race to hunt for land along rivers, streams, ponds, making land prices in Buon Ma Thuot also increase abnormally, virtual fever

Lands adjacent to rivers, streams, ponds, and fields in Buon Ma Thuot City (Dak Lak) are being hunted intensely, buyers are not afraid to deposit immediately. The plots of land with beautiful views in the commune all have new owners…

According to Economic Life

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