The Vesta, a social housing project, is located in the Phu Lam clean industrial park, Phu Lam ward, Ha Dong district, Hanoi. The project is developed by Hai Phat Investment Joint Stock Company with non-budgetary capital.
Rental prices range from 6.5 to 8.5 million VND per unit, with areas ranging from 54 to 74 square meters.
According to information released by the Hanoi Department of Construction, the Phu Lam social housing area is one of the projects eligible to receive applications for social housing purchase after 5 years of rental.
Thus, 408 apartments in the Phu Lam social housing area are being converted from rental to sale. Each apartment has an area ranging from 48 to 69 square meters.
The announced selling price of social housing (excluding 5% VAT and 2% maintenance fee) is over 13.6 million VND per square meter, which is less than 14 million VND per square meter. The target group for submitting applications are customers who have been renting social housing in the Phu Lam Social Housing Project for 5 years in accordance with the current law.
Meanwhile, on real estate exchanges, many apartments in the Phu Lam social housing area are being offered for sale at three times the original price. For example, a 62-square-meter apartment is being offered for sale at 3.15 billion VND, which is over 50 million VND per square meter. Another 74-square-meter apartment is offered at 3.59 billion VND, which is over 48 million VND per square meter.
Located in a convenient location with a dense population and well-connected road systems to National Highway 21B, National Highway 6, and the Cat Linh – Ha Dong metro line, the Phu Lam social housing area, with a selling price of less than 14 million VND per square meter, is a suitable choice for low-income earners with an urgent need for housing.
The Phu Lam social housing area is also popular among students as it is located near universities and colleges such as Dai Nam University, Phenikaa University, University of Architecture, Postal Academy, and the College of Economics and Technical Commerce. In the picture, the Phu Lam Housing Area (right) is just 300 meters away from Dai Nam University (left).
“I’m currently renting a room at the Phu Lam social housing area,” said Do Mai Lan, a student at Dai Nam University. “I’m sharing the room with another person, and I’m looking for one more roommate. The rent is 1.5 million VND per person. For me, this is an affordable price for students, and it ensures security, convenience, and proximity to my university.”
The Phu Lam social housing area has a total floor area of over 171,000 square meters (excluding the basement area); a construction density of 43.8% with over 1,900 units, including 5 high-rise blocks CT01 – CT05 with 19 floors and one basement.
The first floors of the blocks are for commercial and community services, while the 2nd to 18th floors are for apartments.
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