According to a survey by Dan Tri reporters, in many social housing projects, although the apartments have been used for many years, the prices have increased many times, equal to apartments in commercial housing projects.

For example, the Ecohome 3 social housing project (Bac Tu Liem, Hanoi) was opened for sale in 2019, with the price offered by the investor at around 15.6-16.5 million VND/m2. However, many social housing units in this project are currently being resold at prices ranging from 45-50 million VND/m2, nearly 3 times higher than when they were opened for sale.

A house in building N03 with an area of ​​nearly 68 square meters and designed with 2 bedrooms is being offered for sale at a price of 3.25 billion VND, equivalent to nearly 48 million VND/square meter. The seller said that because he needs money to deposit to buy another house, he will reduce the price by 50 million VND if the buyer is willing.

The Rice City Song Hong project (Long Bien, Hanoi) was opened for sale in 2018 at a price of 13 million VND/m2, but up to now the secondary selling price has been pushed up to 39-42 million VND/m2. Or the social housing project at Rice City Linh Dam (Hoang Mai, Hanoi) in 2015 had a selling price of more than 15 million VND/m2, but up to now the selling price of apartments here has increased to around 50 million VND/m2.

Dong Mo Dai Kim project (Hoang Mai district) was opened for sale in 2016 with a price of about 14 million VND/m2. However, the selling price has now increased to 38 to 45 million VND/m2.

Even the NHS Trung Van project (Nam Tu Liem, Hanoi), although not yet handed over and put into use, is being advertised for sale at a price quite high compared to the opening price in March 2023.

For example, a social housing house with an area of ​​69.8m2, designed with 2 bedrooms, is being offered for sale at a price of 2.9 billion VND, more than twice as much as when it was opened for sale in March 2023. The seller introduced that this house is at a very good price if the buyer is willing to negotiate further. According to the law, social housing can only be transferred after 5 years, so if you buy now, both parties will make a notarized document, and when the time limit is met, the name will be transferred.

It can be seen that, in the context of scarce supply, the price of secondary social housing has even been pushed up to the same level as that of commercial apartments. However, the upward trend in housing prices in Hanoi is forecast to continue if the social housing problem is not solved.

Dr. Nguyen Van Dinh - Chairman of the Vietnam Association of Realtors (VARS) - said that the supply structure is increasingly leaning towards high-end, high-value products for investment and speculation purposes. This prolonged phase difference has caused housing prices to continuously increase.

The proportion of affordable apartment supply (under VND 25 million/m2) to the total housing supply has continuously decreased, from 30% in 2019 to 7% in 2022 and 6% in 2023. In the period 2019-2022, the proportion of mid-range apartments (VND 25-50 million/m2) also decreased to 54%, 46%, 34%, 27% respectively, with the supply mainly coming from products priced at VND 40-50 million/m2.

Meanwhile, the demand for real housing always leads the housing demand structure with a proportion of 80%. The remaining 15% is long-term investment demand and 5% is speculative demand. Only about 25% of the demand for real housing has the financial capacity to convert into real demand.

According to him, in the short term, apartment prices in the center of big cities will continue to increase, especially in the affordable and mid-range segments. Meanwhile, the purchase and resale prices of high-end and luxury projects may record a slight decrease.