The Legacy Alpha Valley apartment complex in Hoa Lac is advertised by brokers at 33 million VND per square meter, while this is a project only for rent to people working in the high-tech park, without issuing certificates.
In need of buying an apartment in the West of Hanoi, Mr. Duc Trung (Nam Tu Liem district) has been continuously looking for a bargain price of about 2 billion VND since the end of last year. He was offered by a broker to buy an apartment in Legacy Alpha Valley at Hoa Lac High-Tech Park at an attractive price of 33 million VND per square meter. Thus, to own a two-bedroom apartment with an area of 70 square meters, Mr. Trung only needs to spend about 2.3 billion VND, not to mention the 11% discount from the investor. The broker advertised to Mr. Trung that "the project has enough amenities such as swimming pool, park, supermarket, playground... meeting high-class standards".
The broker added that since its launch, 80% of the product portfolio has been sold out and buyers are supported with 0% interest loans for 18 months from receiving the house. Commenting that "there are not many rare products like this left", the broker urged Mr. Trung to quickly deposit 100 million VND to the trading floor located on Trung Kinh Street, Cau Giay District to choose a beautiful apartment code.
"I was surprised because I didn't think Hanoi had such a cheap new apartment project," said Mr. Trung.
For many months, the Legacy Alpha Valley apartment complex has been continuously offered for sale by brokers on a number of classifieds websites and social networks. The prices they offer range from 33-35 million VND per square meter, equivalent to 1.5 billion VND for the smallest apartment. Many advertisements state that the project investor is An Thinh Group, Mai Viet Land is the developer, along with an account number that accepts bookings of 50-100 million VND for each apartment.
Mr. Le Thanh Son, Deputy Head of the Hoa Lac High-Tech Park Management Board, said that the information about the Legacy Alpha Valley project for sale is "misleading" people, creating opportunities for people to take advantage of it to commit illegal trading and profiteering.
He said that the land for this project is leased until June 22, 2062 for commercial and service purposes (remaining usage period is about 38 years). The goal is to provide accommodation for investors, experts and workers to rent during their working time at Hoa Lac High-Tech Park, helping them settle down and attract high-quality human resources.
According to Mr. Son, the current land law does not stipulate the issuance of pink books to buyers of residential apartments built on commercial service land. In the case of renting an apartment and paying a one-time fee for the entire rental period, people only sign a contract with the investor.
In addition, Decree 102 guiding the implementation of the 2024 Land Law and Decree 10 on high-tech zones stipulate housing projects and accommodation facilities within the boundaries of high-tech zones to serve groups of experts, workers, and investors (both organizations and individuals) working here.
"The investor is not allowed to sell or lease apartments at the Legacy Alpha Valley project to organizations or individuals who do not work at Hoa Lac High-Tech Park," said Mr. Son.
Faced with the massive sale of Legacy Alpha Valley apartments, Mr. Son said that the Hoa Lac High-Tech Park Management Board has requested investors to strictly comply and focus on implementing the project, and strictly prohibit the act of providing false information to sell or rent apartments to the wrong people.
He added that the management board is ready to coordinate and support investors in organizing promotional events and introducing apartments in the project to the right group of people working in Hoa Lac High-Tech Park.
For nearly two years, Hanoi has been in short supply of new apartments priced under VND45 million per square meter. Even in suburban districts and neighboring provinces, many new projects have been launched with prices around VND70-90 million per square meter, competing with new projects in the inner city. The fact that a project is offered at a primary price (investor price) of VND33 million per square meter, excluding discounts, is considered by many investors to be "cheap compared to the market".
Legacy Alpha Valley is part of the overall project of Investment in construction of a commercial and service center in a mixed-use area, Hoa Lac High-Tech Park (Thach That district, Hanoi). The project consists of three buildings (CT1,2,3), providing nearly 380 apartments.
The investor is FBS 1 Investment and Development Company Limited. This enterprise was established on May 17, 2023, the legal representative is Ms. Nguyen Thi Thanh Huong. Ms. Huong is also the Chairwoman of the Board of Directors of An Thinh Group and the legal representative of many other companies in the group such as Reenco Hoa Binh, Legacy Hoa Binh, Legacy Riverside. An Thinh Group has invested in many real estate projects in Hanoi and Hoa Binh such as The Legacy Le Van Thiem apartment building, Legacy Hill Luong Son...
Mr. Nguyen Chi Thanh, Permanent Vice President of the Vietnam Association of Realtors (VARS), recommends that buyers should be alert to information about new apartments for sale at low prices. For nearly two years, the capital market has had almost no new apartments priced below VND45 million per square meter because investors have been pushing to build high-end, luxury houses.
According to experts, buying a house is a big deal for most people, so if there are risks, it can cause great damage. The Law on Real Estate Business, effective from August 1, 2024, strictly prohibits acts of intentionally falsifying real estate information; fraud, deception, and fraud in real estate business or collecting money in the sale or lease-purchase of future housing in violation of regulations. Brokers who intentionally provide false information about real estate for sale will be fined from VND 100 million to VND 125 million.
Therefore, regardless of the size of the project, the buyer has the right to request the investor to provide relevant documents and papers to prove the transparency and correctness of the project. Before signing the sales contract, the buyer also needs to carefully study the procedures, procedures, and time to be granted the red book to consider whether these factors are suitable for their ability and needs.
TH (according to VnExpress)