Hanoi Times – The increase in real estate price in Ha Dong started in late August. At a bidding session for land use right two months later, the highest bidding price reached VND 30 million per square metre in the Ngo Thi Nham Urban Quarter. The prices in some other urban quarters of the city south to Hanoi have gone up.
Mr. Nguyen Van Huy from Cau Giay district said that last year he paid in advance for an apartment in Ha Dong at VND 5.2 million per sqm. “The selling price is now VND 6 million per sqm”, said Mr. Huy.
According to Mr. Duong Van Hiep, a real estate trade living in Ha Dong City, the land price increases due to the construction of some housing projects for foreigners, such as European Oversea Vietnamese Village in Mo Lao or Korean Apartments in Van Phu.
In Hanoi, the real estate market is being warmed up. Sharp increases have been recorded in the price of apartments, especially the high-class ones in the downtown.
According to Vietrees, a property surveying, consulting and managing company, more than 60% of the purchase is for business purposes. the apartment price is anticipated to go up in the last two months of this year.