Be careful when buying or selling mini apartments

  • Ms Nancy by Ms Nancy
  • 4 months ago
  • 0

From the beginning of December 2023 until now, in Da Nang, there has been a lot of information about mini apartments for sale, even unusually many mini apartment buildings for sale. This move is considered by some real estate experts to mean that many investors are taking advantage of the regulations to issue a certificate of use rights for each apartment (pink book) from January 1, 2020. 2025 aims to “exit goods”, transferring the difficult situation to apartment buyers and secondary investors.

Be careful when buying or selling mini apartments

Apartment tenants pay once for 50 years

Recently, due to the “tightening” of management by the authorities, many mini apartment investors cannot sell their apartments and are very limited in posting information about their apartments for sale for fear of being inspected and punished. violations. However, after the National Assembly passed the Housing Law (amended) with a number of regulations on the development of multi-storey housing and individual apartments (mini-apartments), including the issuance of certificates of use rights. application (pink book) for each apartment according to the provisions of land law. There has been a lot of information about illegally selling mini apartments with the invitation to “own a cheap apartment”. This information “hits” the psychology of many people with little money who are in high demand for housing or investors who want to own apartments in the city center in anticipation of the above regulations on being granted pink books.

Be careful when buying or selling mini apartments

In particular, there is a lot of information about illegally selling mini apartments on Truong Thi 5 Street (Hoa Thuan Tay Ward, Hai Chau District) for only 468 million VND for a 1-bedroom apartment, area of 35m2. They even offer investment cooperation with a profit of 36% in the first 2 years and support in buying apartments with a profit of 110% after 24 months. In fact, this mini apartment building has not been built yet, there is only an empty lot and two boards printed with the building’s perspective without any information about the project or investment.

The mini apartment building at 308 Hoang Dieu Street (Binh Hien Ward, Hai Chau District) with two sides with a width of 2m and 3.5m also has a lot of information about illegally selling apartments. Vice Chairman of Hai Chau District People’s Committee Nguyen Van Duy said that after receiving the information, the district assigned the competent forces to check and prevent the sale of apartments in this mini apartment building and there is currently no sale. apartment. However, when someone asked to buy an apartment, a person claiming to be the investor of a mini apartment at 308 Hoang Dieu said that he did not sell, only rented the apartment and the tenant had to pay once for the entire rental period. is 50 years. Specifically, for a two-bedroom apartment with an area of 46-48m2, the total rent to be paid is a one-time payment of 1.2-1.25 billion VND when signing the contract.

See more: Detailed information about hiyori apartment in Danang

Selling land to give away mini apartment buildings

According to research for nearly a month now, on many websites and social networking sites, information about mini apartments for sale has been “blooming” along with cash flow income from apartment rentals. For example, a mini apartment on a corner of Le Duan street (Thanh Khe district) with 4 floors, 5 apartments located on a plot of land only 50m2 with an income of 18-19 million VND/month is for sale for 3 .55 billion VND. Mini apartment on Le Thanh Nghi street (Hai Chau district) with 6 floors, 22 apartments, 204m2 land, income of 100-150 million VND/month is for sale for 25.9 billion VND. Mini apartment on Trung Nu Vuong street (Hai Chau district) has 5 floors, 28 apartments, 200m2 land with an income of 150 million VND/month, for sale for 25 billion VND… In one case, a company The real estate company also posted information “selling high-income apartment buildings” with 14 other mini apartments in Hai Chau, Son Tra, Ngu Hanh Son districts.

The “blooming” of information about selling mini apartments at this time makes many real estate brokers and traders surprised and confused. A real estate broker (requesting to remain anonymous in Hai Chau district) analyzed that currently, deposit interest rates at banks range from 5-5.5%/year. If the cash flow of income from apartment rental is as per the information for sale, it is clear that the annual interest rate is much higher than the bank deposit interest rate. For example, a mini apartment is for sale for 9 billion VND but gives an income of 55 million VND/month, corresponding to a profit of 7.3%/year; Mini apartments are for sale for 14 billion VND and give an income of 95 million VND/month, with a profit of 8.2%/year… Therefore, there are many unusual things when many mini apartments are sold massively.

It is likely that many investors are under pressure because their bank loans to invest in mini apartments are too large because they have not been able to sell their apartments in recent times because of “tightening” and many inspections by state agencies. . On the other hand, meeting the conditions for issuing pink books, being an investor in building mini apartments, fire prevention and fighting, requirements for construction standards… in accordance with the provisions of the new Housing Law Just passed by the National Assembly is also very difficult.

Therefore, it is anticipated that it will be difficult to be granted a pink book, so many investors take advantage of this time, taking advantage of the psychology of many people who want to buy, mistakenly thinking that they will be granted a pink book for each apartment. to “get rid of goods”. If that’s true, then those who buy apartments to actually live in or investors who buy mini apartments at this time to anticipate the new policy will easily “taste the bitter fruit” later.

Director of the Institute of Real Estate Research and Training (Da Nang) Nguyen Duc Lap commented that there will be a major shift from boarding houses and rental houses to social housing in the coming years due to the new Housing Law. There are policies to encourage and promote strong development of social housing in terms of both supply and demand. Real estate brokers and experts also requested the authorities to strengthen management, inspection, warning… before the new and unusual developments mentioned above and to anticipate regulations, New policy of the Housing Law.


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