Never before has the price of villas in Hanoi witnessed such a dizzying increase as in the past time. There are projects, customers are ready with tens of billions of cash but still have no goods to buy.
The real estate market in Hanoi and surrounding areas is witnessing a rapid increase in the price of villas and adjacent villas, especially projects that have been put into use. The strongest price increase can be mentioned as villas in Vinhomes Green Bay urban area (Me Tri, Nam Tu Liem).
Remember, just over 4 years ago the villas in Vinhomes Green Bay were sold by the investor for more than 100 million VND/m2, but now the price has reached 400-500 million VND/m2. The price of a duplex villa of nearly 150m2 here has increased from VND 18 billion to VND 60 billion/unit.
The record of lakeside villas at Vinhomes Green Bay, which is rumored by investors, is up to VND 800 billion, but money can't buy it because these are old exclusive shipments that cannot be sold.
Not only Vinhomes Green Bay villas, many Vinhomes-branded villa projects have also increased rapidly in price in recent years. Mr. T, director of a large real estate property in Hanoi, said that in 2019, he bought a villa of more than 200m at Vinhomes The Harmony for only nearly 14 billion. Up to now, Mr. T said that his villa is currently trading for nearly 50 billion, a dream price that Mr. T has never thought of even though he has worked as a real estate broker for 20 years. now.
The fever in Hanoi villas is understandable, but recently, the suburban villas such as Hung Yen and Vinh Phuc have also suddenly had a dizzying fever. Many projects that do not need to be opened for sale have sold out, investors, even though they have registered a few months ago, are empty-handed.
For example, Ecopark villa (Hung Yen) has set unprecedented price records. If 3 years ago when Ecopark introduced palm island villas at a price of 20 billion VND/unit, causing everyone to say "the price is too high", now these villas have tripled to 50- 60 billion and want to buy is no longer available.
Currently, the number of new villas and shophouses in Ecopark is very small. Customers with money also can't buy because this amount of goods has been collected by the floors for customers who have booked before. "In order to buy an Ecopark villa from an investor, guests must accept a deposit from one year before the turn," a broker specializing in Ecopark villas revealed.
Not only Ecopark villas, recently, investors have been whispering about the fever of Serena Valley Thanh Lanh Resort villas (Tam Dao, Vinh Phuc). Although the price is up to several tens of billions of billion / unit, but if you are a guest without close relationships, you cannot buy goods from the investor.
"Although I have prepared tens of billions in cash to buy two Thanh Lanh villas, my acquaintance only got one, wanted to buy another but had to give up," said Ms. T - an investor. said.
Never before has the number of visitors interested in villas in Hanoi and suburban areas increase as rapidly as now. Mr. Thanh - director of the real estate floor in Nam An Khanh said that in 15 years of working, he has never seen the price of villas increase as rapidly as in the past time. Many villa projects in the suburbs of Hanoi have not been launched yet, but customers are willing to pay a difference of 1 billion VND/unit in advance as long as they can get the goods.
"Even if customers can't buy new products, they immediately turn to invest money to find old-fashioned suburban villas, pushing prices up in this segment, especially in Geleximco, South An Khanh, North An Khanh, and Duong Noi areas. ..", Thanh said.
Looking back at many areas in Hanoi, the villa fever has caused the prices of many apartments to double, even triple after just 1-2 years and increase 4-5 times in just the past 3-4 years. This shows that the cash flow of investors is favoring the low-rise and villa segments in the context that the cash flow into real estate is still very strong amid the risk of high inflation.
However, up to now, prices in many areas have increased to a "startling" level that many people do not dare to enter money. Even many people doubt that a price level will last in the next few years for the low-rise segment after witnessing double price increases in the past few years.
"Villa prices in many areas have been pushed up too high, even beyond their real value. This is when investors need to be alert and should not follow the rush because the macroeconomic situation has been heavily impacted. Due to Covid-19, the real estate market is easy to go down after it has risen to the top of the wave," said Nguyen Van Dinh - Vice Chairman of the Vietnam Real Estate Brokers Association.
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