What is it about the Social Housing Project that makes "seas of people" line up to buy?

Real Estate - Hanoi: What does the Social Housing Project have that makes a

NHS Trung Van social housing project has a prime location on To Huu Street, Trung Van Ward, Nam Tu Liem District, Hanoi City, invested by the Joint Venture of NHS Construction Investment Joint Stock Company and Construction Investment Joint Stock Company No. 4.

Real Estate - Hanoi: What is it about the Social Housing Project that makes a — According to Nguoi Dua Tin Reporter, by the end of May 2023, the project had completed the foundation and was in the rough construction phase.

The project is located on To Huu Street (Le Van Luong extension), about 200m from Trung Van People's Committee headquarters, at land lot HH02A, belonging to the Southeast housing group project of To Huu Street.

Real Estate - Hanoi: What is it about the Social Housing Project that makes a sea of people line up to buy it? (Image 3). — The project is located on To Huu Street (Le Van Luong extension).

NHS Trung Van has an area of about 2,726 m2, construction time from the second quarter of 2022 and is expected to be completed in the second quarter of 2024.

The project scale includes 3 apartment buildings and 48 townhouses; including 1 social housing building with 32 floors, 2 basements and 2 commercial apartment buildings. According to the investor, there are 275 apartments including: 68 rental apartments, 157 purchased apartments and 50 commercial apartments, with a population of nearly 600 people.

The social housing building has 3 elevators with 11 apartments/floor, a total of 275 apartments, with an area of over 69 m2 - over 88 m2. Each apartment will have an open space with a balcony and loggia, designed with 2 - 3 bedrooms, depending on the area.

Previously, on the morning of May 20, thousands of people flocked to Cau Giay District Stadium (Hanoi) where a draw was held to select the winner of an apartment at the NHS Trung Van social housing project (Nam Tu Liem District).

The lottery had 1,300 applications participating, through which 149 applications were selected to win the right to buy a social housing apartment, the competition rate to win the right to buy a house is 1/9, and 1,151 applications participating in the lottery will be eliminated.

Sharing with Nguoi Dua Tin , Ms. Minh Hue (39 years old, residing in Nam Dong ward, Dong Da district, Hanoi) said that this project is located next to the National Assembly housing area, surrounded by villas, international schools and urban areas. In a while, the price of apartments here will certainly double. Therefore, she thinks that this is a project that "the rich also want to buy".

On the morning of May 20, Ms. Hue also lined up early in the morning to draw lots to buy an apartment, but luck still did not smile on her. She said that those who bought a house at NHS Trung Van were no different from "winning the lottery".

Record high opening price

According to the Hanoi Department of Construction, the NHS Trung Van social housing project has an apartment selling price of about 19.5 million VND/m2 (including VAT) and a maintenance fee of 371,869 VND/m2, while the apartment rental price is about 99,000 VND/m2/month.

To own a social housing apartment with the smallest area of 69.9 square meters, people have to spend about 1.36 billion VND, and with the largest area of 76.8 square meters, the amount of money to spend is more than 1.49 billion VND/apartment.

This is the highest opening price ever for a low-income housing project in the capital. Previously, approved prices were usually between VND13 and 17 million per square meter.

Evaluating this opening price, speaking with Nguoi Dua Tin , Professor Dang Hung Vo, former Deputy Minister of Natural Resources and Environment, said that in the context of difficult supply, insufficient land while all costs are increasing, this price compared to the market is not high.

According to him, with a prime location like NHS Trung Van, this is a reasonable price. In addition, because the current price of raw materials and labor is higher than before, investors are forced to increase the price of apartments for sale. Moreover, the above reasons also make many investors hesitant to implement social housing projects. This leads to a serious shortage of social housing supply.

However, he said that with the selling price of about 20 million VND/m2 and current bank loan interest rates, it is very difficult for workers and low-income people to access buying a house.

"Currently, the VND120,000 billion credit package with the highest preferential rate of 2%/year is not really preferential for low-income people to access. Ten years ago, the VND30,000 billion credit package had a preferential loan rate of 5.5%, so workers and low-income people could easily access and want to access it," the Professor shared.

Investors speak out about brokers selling at higher prices

Notably, before the investor officially opened for sale, a series of groups for buying and selling houses in this project appeared on social networks with names such as "NHS Trung Van To Huu Social Housing Residents' Association", "Trung Van - To Huu Social Housing Project", "NHS Trung Van Residents' Association - Official", "NHS Trung Van House Buying Association" or "Trung Van Nam Tu Liem Social Housing Buying Association".

According to information on the real estate website, Nguoi Dua Tin contacted a broker named Truong Huu Tuan. This person is selling the last diplomatic quotas in the project at land lot HH-02A. The apartment will be handed over in July 2024.

Broker Tuan said that the apartment has an area of about 70m2 with the original price of 19.5 million VND/m2. When making the application, the buyer needs to make an application to draw lots to buy a house. If they are lucky enough to be drawn, they will have a chance to buy a house at the Trung Van social housing project.

However, if the buyer is willing to pay a fee of 25 million VND/m2, equivalent to a difference of up to 396 million VND, this broker will support the lottery and will definitely have a purchase spot at this project.

The condition for purchase is that the customer does not have social housing and has a household registration in Hanoi. If there is no household registration in Hanoi, the broker will support the procedures. In addition, the customer has registered for marriage and must go to the place of household registration to request a certificate of not owning a house in Hanoi.

The broker also emphasized that there is not much time to think, the purchase must be made quickly because the documents will be closed at the end of this month and the documents will be collected in early April 2023. If the buyer does not quickly complete the documents, it will not be possible to buy because there are currently only 7 diplomatic apartments left.

However, on May 18, a representative of NHS Construction Investment JSC publicly responded that the company is currently not cooperating with any company, real estate floor, or real estate broker on the distribution of apartments in the social housing project built on plot HH02A of the Southeast housing group project on To Huu Street.

The fact that companies, real estate floors, and freelance real estate brokers intentionally impersonate or spread information about receiving a number of apartments at the NHS Trung Van social housing project, and at the same time buy and sell at a difference, are all inaccurate information and seriously violate the provisions of the law, affecting the reputation of NHS Company and causing damage to customers who register to buy apartments at this project .

Tu Anh - Photo: Huu Thang

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