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The longer you stay, the higher the price!



Speaking with us on this issue, Mr. Duong Duc Hien, Savills's home affairs manager, said that this is not hard to understand because there are good value projects that will increase with time good in quality and management of buildings.

Explaining more about this issue, Mr Hien said that residential buildings, after a long time in use, have the phenomenon of price increases, mainly class A residential buildings in favor of 4 districts. inner capital of the city.

"There are two reasons to increase the prices of these apartments: Firstly, the Land Development Fund project in central Hanoi is almost no more, the supply is scarce while the demand for people is still very high. time.

The second important reason is the quality of the project, especially the quality of the building management services. This is a decisive factor in increasing or decreasing the value of the apartment. This factor is confirmed only after the residential building is in operation for the first 2-3 years, "says Mr. Hien.

Adding an example of a number of price increase projects after a long period of use, Savills said this could be mentioned as a Golden Westlake project in the Tay Ho neighborhood, although it has been in use for over 10 years, but the price of the apartments here is rising sharply. In particular, the investor has now announced that the cost of the project is only 37-48 million dong / m2, but so far the price of the apartments has increased by 52-75 million dong / m2.

Unexpected series of Hanoi apartment projects: In the longer term, the price is rising! - Picture 1.

According to Mr. Duong Duke Hien, the rising value of the apartments also includes rents in these projects at the leading level of the market and the formation of tenants. For example, in the Lancaster Hanoi project, the rental price for a 4-room apartment (almost 200m2 area) is approximately 80-100 million VND / month, the 3-room apartment is about 60-70 million VND / month … 95% of tenants here are Japanese guests.

"I know that in some class A apartment projects, the cost of apartments is increasing over time, the rent is very large, many owners are willing to switch to other projects for renting apartments. Of course, there are clients who buy many apartments in the same building to hire a business, "said Hien.

Unexpected series of Hanoi apartment projects: In the longer term, the price is rising! - Picture 2.

Responding to the question of what are the factors for identifying residential buildings with the potential to increase prices after putting them into use, Mr Hien said there are three factors.

The first is the location that should be projects located in the central part of the capital, the golden lands of Ba Din, Hoan Kiem, Dong Da, Hai Ba Trung, and recently Tay Ho area.

Secondly, the number of apartments in the building should be limited. In developed countries, Class A buildings have very few apartments, even single-story buildings with 3 apartments. In Vietnam, class A residential buildings should have several apartments under 200 units in Vietnam. The number of restricted-access apartments provides a good service to residents, from transportation to the public utilities.

Third is the quality of construction and the quality of services. There are projects 5 years later, more beautiful than 5 years ago, due to good construction quality, good quality work and investors who are constantly increasing utilities for residents. For these projects, the value of apartments always increases over time.


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