5 central Hanoi streets as expensive as those in New York and Paris

In Hanoi, there are a number of central streets being offered for sale at the price of VND billion/m2, equal to the price of land in big cities like New York, Paris and Tokyo.


The street around Hoan Kiem district is offering price that is as high as the big cities on the world

According to the land price list for the period of 2015-2019 in Decision 19/2017/QD-UBND of the City People's Committee. Hanoi, the highest residential land price belongs to central districts such as Ba Dinh, Hoan Kiem, Dong Da, Hai Ba Trung with a level exceeding VND 100 million/m2.


However, the price of land traded in the market is many times higher, reaching 500-800 million dong/m2, even, there are places up to over 1 billion dong/m2, this is the same price as big cities in the world.


At Dinh Tien Hoang street, the land price recorded is up to a billion VND/m2


Survey of Construction Electronic Newspaper shows that 5 streets with the most land price in the Capital are located in Hoan Kiem district, in which the streets are located around Sword Lake such as Dinh Tien Hoang, Le Thai To and Bao Khanh, Hang Hanh... are located at the price threshold of over 1 billion VND/m2.


The front houses on Hang Dao Street, in Hang Dao and Hoan Kiem ward are being rented for VND 180-220 million/month. It is considered to be very convenient for the business of selling fashion clothing and watches.


The rent of the house on Hang Dao street is over VND 200 million/month


Contrary to the unbelievably high valuation, the lives of some households here are quite difficult and inconvenient in daily activities. The high population density makes the households live in cramped, even, many families with 5-7 people living together in a small loft of just over ten square meters. Most common paths are used as a place of business with all kinds of goods from clothes to food and groceries. According to the households, this street can help them "make money" from the business of selling or renting for 30-70 million VND/month for the premises from 15-50 m2.


Each square meter of Trang Thi street is worth up to billions of dong


Due to its long history and cultural values, central location, especially, very convenient for trading, so the land price in the old quarter of Hanoi is always high. Although old, no matter how small, the frontage houses in these streets also cost no less than VND800 million/m2. However, there are few transactions on the market because the property is no different from gold mountain, no one wants to sell, except for the reluctant cases.


According to Bao xay dung Online