VnExpress News The News Gateway of Vietnam
Property prices that soared in some rural districts in Hanoi in July and August when mortgage interest rates dropped and construction of many roads began are now decreasing.
Professional realtor Nguyen Van Tu bought a 200-sq.m semi-detached villa at The Phoenix Garden project in Dan Phuong District at a high price in August.
But he was unable to sellthe villa it for VND11.2 billion (US$466,600) when he tried to and now plans to lower the price to VND10.5 billion.
 |
|
Prices of semi-detached villas in the Geleximco Le Trong Tan urban area in Hanoi’s Hoai Duc District are now reversing after a surge in the third quarter. Photo by VnExpress/ Le Quan |
The situation is similar in Hoai Duc District where the prices of villas and houses at projects like Geleximco Le Trong Tan, Hinode Royal Park, Lideco, and An Lạc Green Symphony increased slightly in July and August, with the maximum price for a semi-detached villa reaching VND170 million per square meter.
The price hike was enabled by a further drop in bank loan interest rates and construction of some major roads such as the Belt Road No.4 and asphalting of existing ones in communes like Dan Phuong and Hoai Duc.
Pham Ngoc Truong, a realtor, said some 240-sq.m semi-detached villas at Geleximco Le Trong Tan in Hoai Duc sold for VND15-15.5 billion before June, rose to VND16-16.5 billion in July and edged down to around VND16 billion in October.
 |
|
A semi-detached villa in Hanoi’s Dan Phuong District is on sale but there are no buyers. Photo by VnExpress/Le Quan |
The prices of villas and houses at projects such as Hinode Royal Park and Lideco in Hoai Duc and HUD Me Linh in Me Linh District have decreased by 10-15% since early in the third quarter, according to some real estate trading floors.
Ngoc Ha, the owner of a real estate trading floor, said her trading floor it currently has over 50 villas and houses in Hoai Duc and Dan Phuong districts listed, but it is very difficult to find buyers now.
A glut has caused prices to fall, she said.
Nguyen Van Dinh, president of the Vietnam Association of Realtors, said the wait-and-see attitude of potential buyers is also a reason for the market’s slump.
Prices of land near Belt Road No. 4 in Dan Phuong, Hoai Duc, Thanh Oai, and Me Linh districts have fallen by 20-30% since late 2022.
- Reduce Hair Loss with PURA D’OR Gold Label Shampoo
- Castor Oil Has Made a “Huge” Difference With Hair and Brow Growth
- Excessive hair loss in men: Signs of illness that cannot be subjective
- Dịch Vụ SEO Website ở Los Angeles, CA: đưa trang web doanh nghiệp bạn lên top Google
- Nails Salon Sierra Madre
