On average, nearly 30 million VND per m2 of apartments in Hanoi
Illustration.
Report real estate market According to CBRE, the selling price of mid-end apartments on the secondary market in Hanoi is currently averaging nearly $1,300/m2 (nearly VND 30 million), up 9% over the same period in 2021, according to CBRE. – the highest increase in the past 5 years.
It is forecasted that in the next 2 years, the supply of apartments in Hanoi market will have about 54,000 more products, mainly in districts: Bac Tu Liem, Dong Anh, Long Bien, Hoang Mai, Thanh Tri… For a big city like Hanoi, the supply of products is considered to be much lower than the demand.
In fact, the situation of “out-of-phase” supply and demand makes the real estate market develop unbalanced and unsustainable. Meanwhile, with the current situation, it is not easy to pull down housing prices, because the market and segment social housing supply trickle, a series of real estate projects due to legal barriers, significantly affect the National Housing Development Strategy.
Therefore, representatives of real estate businesses share the same recommendation that it is necessary to develop a standard process for construction investment, shortening the time for administrative procedures; at the same time, it is necessary to soon implement a project to develop low-cost commercial housing with preferential mechanisms and policies on land use fees, taxes, and credits, to encourage businesses to invest in commercial housing projects, with prices not exceeding 20 million VND/m2 in localities and 25 million VND/m2 in grade I and special cities.
In addition, real estate experts said that it is necessary to create a land fund for housing development, especially social housing and low-cost commercial housing in the localities.
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