Public opinion was stirred recently when a land auction in Hoai Duc’s Tien Yen commune reached a staggering 133 million VND per square meter. Many believed this to be a ploy by real estate speculators with no intention of actual residence. This assumption holds ground as several villa and adjacent housing projects in Hoai Duc remain unoccupied despite completion.
Our reporters found that the Son Dong Center project in Son Dong commune, Hoai Duc, which was auctioned and commenced four years ago, is now complete. However, most of the adjacent houses remain uninhabited.
The technical infrastructure of this urban area is mostly finished.
While several units have been handed over to customers, many remain unoccupied, with some owners opting to lease them out. According to surveys, prices per square meter range from 110 million VND to over 200 million VND, depending on the location.
The new urban area in the north of National Highway 32 (Lideco) is located in Tram Troi town, Hoai Duc district. The project is developed by the Urban Development and Investment Company of Tu Liem.
According to the investor, this is the only project in Hoai Duc without high-rise buildings, featuring only low-rise constructions. It comprises 648 detached and semi-detached villas, houses with gardens, 136 adjacent houses, parks, schools, and commercial centers.
Currently, some villas and adjacent houses are occupied, but most remain unfinished and vacant.
Many real estate exchanges are now offering villas in this area at prices ranging from 150 million VND to 250 million VND per square meter, depending on the location.
However, many investors believe that these products are illiquid due to their high total cost, ranging from 20 to 30 billion VND, making them unaffordable for those with genuine housing needs.
The villas and adjacent houses in these projects stand completed but devoid of residents.
Astonishingly high price for old and dilapidated apartment buildings reaching nearly 200 million VND/m2, rivaling the most luxurious condominiums in Hanoi
Old collective apartments with prices starting from 100 million VND/m2 are usually the first-floor units that can be used for commercial purposes, while the upper-floor units are priced at 60-80 million VND/m2 for residential purposes.
In 2023, GELEX earns nearly 1,400 billion VND
In the face of macroeconomic pressures over the past year, GELEX Corporation has implemented flexible strategies to maintain stability and strive for sustainable growth.
Chinese citizens flock to buy 280 tons of gold, realizing real estate and stocks are no longer a good investment channel
Regardless of the global decline in demand for gold, the purchasing power of Chinese citizens has propelled the price of gold to surpass the $2,000 per ounce threshold in 2023.
