A real estate transaction on street 32 (Hanoi) recently reached the threshold of $ 8,695 / sqm.
Trung has successfully brokered a plot of land on the National Highway 32, adjacent to Bac Tu Liem and Hoai Duc for $ 8,695 / sqm. It took time to find and lock guests quite long but he said, this price has increased about 20% over the same period last year.
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“The road surface along this route from Nhon to Kim Chung – Di Trach, Tan Tay Do has a selling price ranging from $ 8,695 / sqm, depending on location, area, facade width as well as business potential … “he said. However, he added, the number of plots at $ 8,695 is very small, usually not large, but the front is spacious, located in a densely populated area with business potential. Remainder, the normal transaction price in the route ranges from $3,478 – $6,521, about 15% higher than the same period.
According to him, the price is high but the number of people wants to sell is not much, while the demand for buying some of the large investors. He said five other investors are also asking him to look for a house on the street to invest in rent or wait for the price increase.
“However, I have been hunting for about 3 months now, but I have not found a lot of customers. The real estate owners who own this road are expecting higher prices, so they do not think it is time to take profits, “he said.
Last year, a business participant in the auction area of 1,000 sqm in the area of Kim Chung – Di Trach with the average winning price of $1,630/sqm. Soon after, the unit was handed over to secondary investors at prices ranging from $3,478 – $3,695 in blocks at the National Highway 32 and $2,173 with internal pavement blocks.
Some roads with potential for business development or residential land along the road 32 from the beginning of the year have also increased by 10%, compared with the same period increased approximately 15%. The residential area in Van Canh, Phuong Canh, An Trai, Kim Chung – Di Trach … also increased $86 – $217 / sqm, depending on location, area … causing the transaction price to increase and fluctuate from $869 – $1,086 / sqm. Even service land in some areas near the pavement is also being offered for sale at 1.5 times higher than the same period last year.
Mr. Quynh has just bought a plot of land on the road 32 to wait for the price increase. As someone with many years of hunting real estate for investment, he expects housing prices will increase as Hoai Duc decided to go to the county in the future. However, he said that the area along Route 32 will have the best price increase due to the infrastructure and business opportunities due to crowded population, near some universities.
“I bought to invest for rent because this route is now quite crowded. If the market is good, then I can sell or rent well, “the investor expected.
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Mr. Manh, the brokerage in this area said, in addition to information to the county, the infrastructure factor is also promoting real estate prices.
Alongside the Cat Linh – Nhon railway is still being urgently completed, the Hanoi People’s Committee has approved the task of designing the two sides of Cau Dien – Road 32 also makes investors expect. In addition, the policy to allow Hanoi to implement the West Thang Long Road project connecting West West Lake with Son Tay urban area running through Dan Phuong also contributed to making the property here attract the investors.
“The infrastructure is improved by expanding roads, and the population is growing. Along with that, information Hoai Duc, Dan Phuong will have the project of the big investors make the real estate sector more attractive to investors”, Mr. Manh said. Not to mention, many smaller routes have also been approved in the coming time to contribute to the completion of infrastructure in this area. The ring road 3.5, Tan Lap – An Khanh – La Phu is 16km long, 50m wide, Duc Thuong – Phu Dien – Xuan La, Son Dong – Xuan Phuong – My Dinh …
Real estate market report for the third quarter announced by CBRE also said that in the villa segment, adjacent, outside the central area, the West is also the place with the highest secondary price and higher than the current market average.
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