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Real estate prices near Hanoi are still increasing hot

House prices in the eastern area of ​​Hanoi have continuously increased for many years. Particularly in Hung Yen, some apartment projects have the same asking price as luxury apartments in the central district of Hanoi.

About 10 years ago, the real estate market in the east of Hanoi, including the districts of Long Bien, Gia Lam and Van Giang (Hung Yen), received little attention because of its low supply and undiversified products. But in recent years, this area has appeared many large projects with investors such as Ecopark, Vinhomes, Masterise, BRG, Sunshine, Mipec…

The real estate market in this area has gradually become more active, and land and house prices have also increased rapidly in recent years. According to the survey, the selling prices of houses, land plots, apartments, shophouses… in the eastern area are competitive compared to other areas in Hanoi thanks to the strong improvement in transportation infrastructure. communication, social infrastructure such as commercial centers.

For example, the average house price fluctuates between 30-80 million VND/m2, depending on the area and location; apartment prices fluctuate in the range of 30-50 million VND/m2; villa ranges 40-100 billion VNDeven many products surpass 100 billion VND

Vibrant real estate market

Hoang Khanh, a real estate broker in Long Bien district, admits that land prices in this area increase about 10-12% per year. “After the stock market and gold fluctuated strongly, people tend to look to real estate to invest, causing land prices in areas to increase, especially in the east of Hanoi,” he said.

According to this broker, land prices in Ngoc Thuy and Long Bien areas are fluctuating around 55 million VND/m2 for a very small alley and over 80 million VND/m2 for a larger area.

Not only land plots and townhouses, the apartment segment in this district also recorded a new price range. Particularly, the apartment segment here is being sold at a price of 30-35 million VND/m2, even high-end apartments are offered for sale at up to 55 million VND.

For example, an 87 m2 apartment in the Berriver Long Bien project is being offered for sale 3.2 billion VND, equivalent to nearly 37 million VND/m2; 50 m2 apartment in Le Grand Jardin project is for sale for 38 million VND/m2… Villas in this district are also being traded in the range of 60-100 billion VNDan area of ​​about 150-200 m2, the house is finished…

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Apartments in the Eco City Viet Hung project (Long Bien, Hanoi) are for sale with prices ranging from 30-35 million VND/m2. Photo: TT

In Gia Lam, land prices in Dong Du area have also continuously increased over the years. Currently, the price has increased to 44-52 million VND/m2, depending on the location, while the end of 2021 will be at 35-40 million VND/m2.

Mid-range and high-end apartments in this area are also sold for about 40-50 million VND/m2, villas are traded around 40-50 billion VND, even reaching the milestone. 100 billion VND. For example, apartments in Ecopark fluctuate from 30-70 million VND/m2, Vinhomes Ocean Park 28-41 million VND/m2, Masterise sells for about 45-55 million VND/m2.

Besides, the price of villas in Gia Lam also increased sharply. For example, a duplex villa with an area of ​​135 m2 belonging to the Vinhomes Ocean Park project is being sold for 207 million VND/m2; Villa 160-200 m2 of Ecopark project is for sale for 150-180 million VND/m2…

In Hung Yen, some apartment projects have quite high asking prices, corresponding to high-class apartments in the central district of Hanoi. For example, The Empire Vinhomes Ocean Park project is preparing to sell phase 1 of shophouses, adjacent 48-120 m2 with prices from 5.5 billion VND.

Is the uptrend commensurate?

In fact, over the past time, the eastern area of ​​Hanoi has been focused on investing in infrastructure, diversified products, and large investors, causing land prices to continuously set up new premises. In which, there are a series of trillion-dollar projects such as Vinh Tuy bridge, Dong Tru bridge, national highway 5 extending…

Notably, the intersection of Ring Road 3 with Hanoi – Hai Phong highway (Co Linh intersection) has just been completed. This is a modern intersection, scale of 6 roads, “connected” with major traffic routes such as Ring 3, Co Linh, Thanh Tri bridge, Hanoi – Hai Phong highway.

In addition, the urban planning project of the Red River has just been issued by the Hanoi government, causing real estate prices in this area to increase.

According to the general construction planning of Hanoi city to 2030, with a vision to 2050 approved, the eastern part of Hanoi will build 4 large bridges that will form a traffic axis across the two banks of the Red River, increasing the connectivity of the city. connecting the inner city center of Hanoi with the eastern districts and districts and alleviating the burden of moving people.

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Tens of thousands of billions of dong invested in infrastructure and the Red River urban subdivision planning project help the real estate market in the east of Hanoi become more and more exciting. Photo: Viet Linh.

Talking to Zing, Mr. Nguyen Van Dinh, Deputy General Secretary of the Vietnam Real Estate Association, said that currently all real estate in Vietnam is increasing at the wrong market price.

However, according to him, the housing market is still under upward pressure because of low supply and unapproved projects. Meanwhile, people tend to use their idle money to invest in real estate, causing demand to increase. This has led to an unusual increase in land prices in many places.

“Some areas in Me Linh and Soc Son do not have developed infrastructure and services, but the land price has skyrocketed 2-3 times. Previously, the land price in this area was only about 20 million VND/m2, but now it has changed. reached the milestone of VND 40 million/m2 …”, he cited.

Particularly in the eastern part of Hanoi, such as Gia Lam and Long Bien, Mr. Dinh said that the planning along the Red River has been completed, creating valuable land funds, especially in areas where residential land is planned.

Regarding real estate prices in these areas, leaders of the Vietnam Real Estate Association said that they are too high. In particular, land in Gia Lam and Dong Anh areas is at 150-160 million VND/m2, equivalent to South Trung Yen (Cau Giay district) and My Dinh (Nam Tu Liem district) while infrastructure service is not adequate.

“If investing and buying in these types of real estate in this area, people need to pay attention to planning and legality. If residential land is in stable planning, it can be invested, if not residential land. In the residential planning, it is necessary to understand that there is a very complicated procedure that will take time and cost,” he noted.

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