The Investor Does Not Build The Basement Parking Due To The High Cost Of Construction


Mr. Nguyen Chi Thanh – Vice Chairman of the Vietnam real estate broker association said that the expensive cost of building the basement parking is a reason that investor avoids investing this category. The more basement is built, the higher the expense is.

The deeper basement is, the greater the cost is

More specifically, under calculation of Mr. Thanh, the first basement costs about 1.5 – 1.7 times as much as the floating floor. The second basement costs 2-2.5 times as much as the floating floor. The third basement may cost 3-3.5 times as much as the floating floor. The deeper basement is, the higher cost will.

Therefore, some apartments in Hanoi do not have the basement parking, if there have the basement parking, it is too small compared to the total area of the building as well as the needs of using.

“The cost of civil building of the ground is average 400 – 415 USD/ Sqm. The basement construction costs can be up to 910 – 1400 USD/ sqm” Mr. Thanh said.

basement parking

Many apartment buildings in Ha Noi do not meet the demand of residents or parking tunnel.

Mr. Thanh emphasized that cost of construction are not charged to perfect the basement. After constructing, the investor has also to spend a large amount of money to improve lighting system, drainage system, fire protection system, signal system…

>>>See more information about the real estate law, here: Vietnam real estate law

Mr. Pham Sy Liem – Deputy Chairman Of Vietnam Construction Association emphasized that the cost of construction of the basement is quite expensive. In addition, the deeper basement builds, the greater the thickness is. Construction units also have to calculate the cost to waterproof.

Should not be forced to have the basement, it just forces enough space to parking

Mr. Liem also said the many problems of many investors currently when wanting to get the building permits and make project planning to layout all full parking layout according to population scale. However, the number of the investors do not build the basement parking or built it with the low area which is not enough parking for residents. It leads to shortages of the basement parking which are increasingly popular, especially the condominiums in the center.

Mr. Nguyen Van Duc – Deputy Director of Dat Lanh limited company proposed the change the perspective on the regulation of the basement parking now. He analyzes the layout of parking space is the right of the inventor of the project. The authorities should specify clearly the projects have fully parking space to meet how much the population scales.

Accordingly, it should force the investors in building the basement parking, it can specify each building how much parking seats equivalent to the number of residents to solve the needs of parking. The parking regulations will help the investors to self-regulate in their projects to layout enough demand.

Analysing on the benefit of the basement, he said many investors may worry about the expensive cost without thinking long-term benefits. Fact, the height of buildings and construction area of the floating part will be controlled by the land use coefficient.

For example, a project is built on an area of 7 000 sqm, the total floor area of floating floor is about 10 times, equivalent to 10 000 sqm. However, the area of the basement is not controlled.

>>>Update on new information on the real estate market in Vietnam, here: Vietnam real estate market

“The investor builds many basements, the more areas for the project that are not restricted. Having more areas, the investor can create more benefits in the future” Mr. Duc said.

Mr. Pham Sy Liem emphasized about building management solutions instead of encouraging to basement build policy. All projects are designed having to calculate to population scale, and parking needs. The problem is whether the authorities have tightly controlled design to have the appropriate parking seat with the scale of the population.

basement parking

Hanoi has asked all owners to build a car garage.

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