Million-dollar apartment, hundred billion Vietnam Dong villa
A few years ago, no one could imagine the price of an apartment could be up to millions of USD (about 23 billion VND), but this price is now becoming more familiar. There are even apartments costing up to several tens of billions of dong. For example, there is a real estate project at 22-24 Hang Bai Street (Hoan Kiem District, Hanoi), the price of apartments with an area of 120 - 250 m2 is for sale at about 85 - 175 billion Vietnam Dong.
Villas and townhouses in Hanoi are increased in price sharply due to the psychology of "investing money in the land" to avoid inflation.
The apartment that is considered the most luxurious and expensive in Ho Chi Minh City belongs to the project of commercial offices, services, apartments, Spirit of Saigon hotel (District 1) with the price of up to 23,000 USD/m2. There are apartments offered per square meter for sale for about 800 million Vietnam Dong.
Even though, these prices aren't at the peak of themselves. With a successful auction price of up to 2.45 billion VND/m2. According to calculations, the price per square meter of apartments for this project will be billions of VND.
For land plots and villas, the price is even more shocking. In Hanoi, the real estate market has appeared with villas costing hundreds of billions of dong. Such as Vinhomes Green Bay urban area (Me Tri Ward, Nam Tu Liem District), the price of some villas have now reached 400 million VND/m2, an increase of about 4-5 times compared to 4-5 years ago. A duplex villa of about 150 m2 in this urban area is for sale for about 60 - 70 billion VND.
In some neighboring localities such as Vinh Phuc, Hung Yen, and Bac Ninh, villa prices also increased sharply. A few years ago, Ecopark (Hung Yen) launched an island villa area with a price of about 15-20 billion VND/unit. This was the record price of the market at that time, recently the selling price has increased to 50-70 billion VND/unit, about 180-200 million VND/m2.
Van Phuc urban area (Thu Duc City, Ho Chi Minh City) is selling villas at Van Phuc Mansion for about 160 billion VND and Parkview Shop Villas for sale for 59 billion VND/unit. Also in Thu Duc City, Trung Thuy Group launched a Lancaster Eden villa project with a price of around 100 billion VND/unit. The line of luxury villas in the Sala urban area invested by Dai Quang Minh Company with an area of 550 m2 costs about 130 billion VND/unit. The single villa with a large garden and swimming pool facing the street has a design of 1 basement, 3 floors on an area of 789 m2 with a selling price of about 268 billion VND. But this is the selling price of the investor. After the Thu Thiem land auction was announced with a successful auction of more than 2.4 billion VND/m2, the selling price of each villa increased many times.
Believe it or not, a land plot's price value these days is terrifying. Shophouse and villa products at the Louis City Hoang Mai project (Hoang Mai District, Hanoi) only cost about 80-100 million VND/m2 a year ago, now they have increased to around 150 to 220 million VND/m2. The suburban areas of Hanoi also rapidly increase in prices such as Dan Phuong, Hoai Duc, Thach That, Quoc Oai, and Thanh Tri districts. The land in the center of H.Dan Phuong town has increased almost double from about 40 million VND/m2 to 60 - 70 million VND/m2. Furthermore, a real estate price can be affected by land divided into the plot, location, big road that allows the car to enter, etc; will have an increase of 30 - 50% compared to the beginning of 2021. In Thach That, a piece of land with an area of about 100 m2. The resettlement area of Bac Phu Cat is for sale for 45 million VND/m2, an increase of about 10 million VND/m2 compared to about 2 months ago.
According to the survey, the land fever also spread to forest land, hilly land in the suburbs of Hanoi such as Soc Son, Ba Vi, Son Tay town; Luong Son District, Hoa Binh City (Hoa Binh Province); Phuc Yen town, Lap Thach district (Vinh Phuc). Since there is a new trend of "leaving the city to go to the countryside". Especially the land next to the water such as lakes, rivers, streams or have a clear landscape are hunted by the everyone, these lands prices are insanely high.
The CEO of a real estate company claimed that there is a villa fever, especially in high-class villas for the super-rich. This phenomenon happened because this type of product is so scarce and most customers buy this line to live. Because of possessing prime and unique locations, the selling price is very high and always increases. On the other hand, the General Secretary of the Vietnam Real Estate Brokers Association, Mr. Nguyen Van Dinh, explained this phenomenon caused by the need for investment due to the impact of Covid-19. In addition, in the context of low-interest rates from banks saving.
"After a few months of lockdown/social distancing, the real estate market has shown significant signs of recovery" claimed Mr. Nguyen Van Sinh, Deputy Minister of Construction.
Ms. Duong Thuy Dung, Senior Director of research CBRE evaluates: In 2022, the apartment market will receive double the number of apartments compared to 2021, the supply of townhouses will also increase by 20 - 30%. But compared to the great demand in the market, there is still a phase difference between supply and demand. Besides, the cost of land and labor is still increasing. All of those factors lead to an increase in prices soon.
By Thanh Nien News