Vinh City: Lack of supply, apartment prices increase
(Baonghean.vn) - With no new licensed projects, the supply for the apartment market still mainly comes from old projects that are being implemented. This is one of the main reasons for the increase in apartment prices in Vinh City in the recent period.
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Lack of supply, apartment prices in Vinh City tend to increase. Photo: Van Truong |
At this time, want to own an apartment inVinh cityWith a limited budget of about 600-700 million VND, it is not easy. Through a survey, it is known that more than 1 year ago, the price of apartments in Vinh City was only 12-14 million VND/m2.2, then in October 2022, apartment prices suddenly increased, for affordable apartments, the price is from 20-22 million VND/m2, luxury apartments from 25-30 million VND/m2(Currently the price has not increased compared to about 4 months ago).
Ms. Tran Thi Minh in Nam Dan district just bought her daughter an old apartment on Dinh Cong Trang street (Vinh city) and said: I just bought this apartment before the Lunar New Year of Quy Mao with an area of 70m2.2,Priced at 1.4 billion VND, I know it's expensive but I still have to buy it, because compared to the price of buying land to build a house, buying an apartment is more affordable...
A real estate broker in Vinh City said: The demand for buyingapartmentThe demand for people in recent times has been very large, every day there are many people asking to buy, but this period is very difficult to find.
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| Finding an apartment to buy at this time is very difficult. Photo: Van Truong |
The reason why apartments in Vinh City have been “attracting” customers recently is because the apartments meet the criteria of a convenient living environment, diverse services, shopping, dining, entertainment, convenient for families with the elderly and children, and the price is also more reasonable than buying land to build a house. Not to mention the fluctuating material prices are causing the prices of apartments to continuously increase recently.
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Inside an apartment building in Vinh city. Photo: PV |
Mr. Nguyen The Phiet - Head of Housing and Real Estate Market Management Department, Nghe An Department of Construction said: In order to preserve the urban landscape architecture and reduce pressure on the inner city in the future, in the coming time, the province will not approve new investment policies for apartment projects in Vinh City.
Up to now, the province is implementing the construction of 4 apartment projects in Hung Dung, Nghi Kim, Quang Trung, Hung Loc wards (Vinh City), the construction progress has reached over 70-80%. These are mainly old projects that the province approved for investment and construction in previous years.
Research shows that currently, low-cost housing and affordable housing suitable for the majority of people in Vinh City are in great shortage; while the real estate market segment of apartments, shophouses, villas, and townhouses with high prices from 10-15 billion VND is stagnant, causing an imbalance in the current real estate market.
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