SOCIAL HOUSE PRICE DOUBLED AFTER MANY YEARS OF USE

The price of social housing in a series of apartment projects that have been lived in for many years in Hanoi has increased sharply, with some places for sale 2-3 times higher than when it was opened for sale.

A social housing project in Bac Tu Liem, Hanoi was initially sold for about 16.5 million VND/m2. However, up to now, many apartments here are being bought at double the price compared to when they opened for sale, about 30-34 million VND/m2.

"Many realtors and people with real needs ask if they want to sell their houses, and even on groups of residents, they also post them for sale, with the price they split up to 100%," said Duong Van Trong, district. Bac Tu Liem, Hanoi, shared.

"The price they offered to buy was about 30 million, but I think the price is not surprising, because this time in this area, the facilities are good. I think the price increase at this time is also reasonable, because now the price of construction materials is expensive. construction, house prices increased," said Mr. Nguyen Huu Vinh, Bac Tu Liem district, Hanoi.

In fact, not only this project, many other social housing projects in Hanoi have also increased in price over the past few years, especially projects with good construction quality and convenient locations.

Many social housing projects are now being offered for sale at the same price as used commercial housing. For example: Rice City Song Hong project (Long Bien, Hanoi) opened for sale 5 years ago for more than 13 million VND, but now the secondary selling price has reached 26 - 27 million VND/m2; or Dai Kim Housing Project (Hoang Mai, Hanoi), Ngo Thi Nham social housing project (Ha Dong, Hanoi) are also for sale at a price of 3-4 times higher than when opened. sell…

Even the project that is currently open for sale has been approved for a price of up to nearly 20 million VND/m2, instead of 13-14 million VND/m2 as before.

"Social housing projects are not abundant, abundant, almost very rare. Obviously, the demand for social housing increases, such scarcity, people have been able to buy social housing when they have the need. If they move to another place, they resell it, they consider it a product of the market and calculate the price of the market," said Nguyen Van Dinh, chairman of the Vietnam Real Estate Brokers Association.

However, experts warn, according to regulations, social housing must stay for 5 years before being allowed to be transferred. Among the apartments offered for sale today, there are many apartments that have not yet met the regulations, having only lived in for 2-3 years. The resale of such apartments is against the law. Buyers will also face many risks. Therefore, buyers when looking to buy apartments in social housing projects need to find out carefully whether it is a social housing or a commercial apartment that is normally bought and sold.