The owner increased the price by 600 million overnight, the customer panicked and took billions and left.

Sharing about buying a house, Ms. NM (Long Bien, Hanoi) said that the 40m2 house above was built many years ago. Initially, the homeowner's son offered a price of 3.6 billion VND, but when she and her husband came to see it, the father said it was 3.8 billion.

The couple still decided to buy this house, so they went back the next day to check it out and put down a deposit. This time, for some reason, many “land brokers” appeared, pushing the house price up to 4.2 billion VND.

“In one night, the house price was pushed up to 600 million VND. The homeowner was afraid of losing money so he followed the broker and said that he would only sell it for 4.2 billion VND. The house was not located in the central area, there were not many amenities around, and the homeowner asked for too high a price, so my husband and I gave up the idea of ​​buying that house,” said Ms. M.

The story of the homeowner increasing the price by hundreds of millions of dong overnight surprised many people.

Like Ms. M., Mr. H. Son (Ha Dong, Hanoi) said that last month he went to see a house, the owner quoted a selling price of 7.5 billion. This month, when he contacted again to talk and pay a deposit, the owner quoted a price of 8 billion VND.

“The next day, I went to see the owner and they said they would only sell it for 8.5 billion. In just one night, the house price increased by 500 million. Even if I wanted to buy it, I would give up and wait to see how the market is,” said Mr. Son.

Homeowners "turning around" and increasing real estate prices is not a rare occurrence in the Hanoi real estate market recently.

Ms. HMH (Dong Da, Hanoi) also fell into a similar situation, unable to buy a house because the owner kept increasing the price.

Ms. H. said that after many months of searching, last month her family found a real owner who posted a house for sale in Long Bien, 30 square meters in a deep alley, for 4 billion.

4 days later, when Ms. H. and her husband came to see the house, the owner increased the price to 4.3 billion. Considering the location of the house to their needs and not wanting to prolong the time of searching for a house, the couple decided to try to add 300 million to buy it.

“The next morning, my husband and I were shocked when the landlord quoted us a price of 4.35 billion. We stopped bargaining and walked away. We really needed the house, but we couldn’t keep up with the price,” Ms. H. shared.

Consider avoiding buying at "fake" prices

Assessing the Hanoi real estate market in recent times, Mr. Le Dinh Chung, General Director of SGOHomes, said that not only apartments, but other segments have also increased in price. Currently, the price of residential land in the suburbs of Hanoi is about 100 million VND/m2. Houses in alleys in the center are from 140-160 million VND/m2. Adjacent, low-rise real estate is the lowest at about 200 million VND/m2.

A report by a real estate research unit shows that in the second quarter of 2024, the price of residential land in Hanoi increased by 32% compared to the same period. The reason is believed to be due to the high price of apartments, causing many people to switch to looking for residential land in the same price range of 2-4 billion VND, pushing up the selling price in this segment.

Mr. Hoang Phuong, Director of a real estate company in Hanoi, said that the segment of houses in alleys with prices of 3-4 billion VND serves real housing needs, with moderate financial capacity, so they are easy to sell and have high liquidity.

Regarding the situation of the owner “turning around” and increasing the price after a short time, Mr. Phuong said that it could be because after posting the listing, the owner saw many customers coming to view the house or some customers quickly decided to buy. The owner was worried about selling at a “loss” so he increased the price, causing the transaction to fail.

In addition, it is possible that the area has a team of brokers who manipulate prices to push up the price level. When the owner posts a low selling price, it influences the owner to think that his selling price is too cheap and decides to increase the price.

“There are cases where a house goes through the hands of many speculators, buying and selling for a profit of several hundred million in one transaction, leading to a sharp increase in price in a short period of time,” said Mr. Phuong.

According to Mr. Phuong, people with real housing needs should consider the price offered by the landlord, evaluate whether the house is true to its real value and the general market price. From there, consider spending money to buy a house that is suitable for your financial ability. If the house price increases too much in a short time, you need to consider carefully to avoid buying at a "virtual" price.