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In Cau Giay district (Ha Noi city), there are many resettlement house projects which serve relocation and clearance demand of transport projects. Some people receive offset with new houses but they want to resell. This creates a dynamic resettlement house market.
Bui Hung ( 36 years old) lives in Thanh Xuan district who wants to buy an apartment in Cau Giay district. He researches about repurchasing resettlement houses because he thinks Cau Giay district has many attractive resettlement house projects, which is near main roads with the convenient location.
The same as Mr. Hung, Lan Huong ( 41 years old) is looking for an apartment which closes to her agency at Nam Trung Yen ward. She is an outsider who goes to this city for work, after saving the amount of money, she decides to buy a resettlement house because she thinks it has the economic price. In addition, resettlement houses have the nice location with few floors and low building density.
According to Mr. Hung, after talking with several brokers, he finds out the price of resettlement houses in Cau Giay are “ blew up” too high compared with the initial price. Moreover, each land broker gives the different price for the same apartment in the same project.
He takes the example, in resettlement project nears Tran Thai Tong street, although these houses have not been handover yet even the city authorities have not organized for drawing lots to divide houses for citizen yet, the land brokers advertised for selling these houses with the price level about $1230-1278/sqm.
In Mai Dich resettlement project, an $1183-1230/sqm price is offered. Several brokers give an $1278/sqm price.
In A14 resettlement house project in Nam Trung Yen ward, the same apartment at 9th floor but Mrs. Huong receives offers with many different prices. Some brokers offer about $1301/sqm with negotiation, others offer $1230/sqm, another gives an $1372/sqm price and promise to complete rapidly transfer procedures.
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Nguyen Dong, a manager of resettlement house projects, told the reporter, people have many reasons to repurchase resettlement houses. Firstly, many citizens receive houses for offset but they do not want to stay then they resell them, which creates a large supply. Besides, resettlement houses have much more advantages than commercial houses such as convenient location, low building density,…they also have few floors and near main roads, especially, have the reasonable price.
According to him, almost resettlement houses in Cau Giay district have the price level around $946/sqm. For example, A14 Nam Trung Yen project has the price ranging from $852-899/sqm. The project in Tran Thai Tong street has the initial price just about $946-994/sqm. The initial price of N01 Mai Dich houses is about $946-1041/sqm.
The one who is given a house, usually hire a real estate broker to be an intermediary for reselling, therefore the house price in the market is decided by brokers.
Mr. Dong stressed house buyers should pay attention to the location of the apartment, the number of floors and consider carefully before buying a resettlement house. In fact, quality of these houses is not better than commercial houses like many people think, moreover, its furniture is just basic. Purchase procedures completion and certificate of ownership in some projects are not easy.
Van Hung, an experienced broker in reselling resettlement houses in Cau Giay district, also stresses buyers should consult different sources before deciding to repurchase resettlement houses.
“Clients rarely buy directly from owners but through brokers”. They should research the price and negotiate well to get a reasonable price based on location, floor number, area,… Moreover, clients need to buy early to avoid high price because they have to buy through many brokers, he added.
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