Many streets in Hanoi were flooded after heavy rains recently. The flooding situation during heavy rains has been included among eight criter ia for the pricing of non-agricultural land in the capital city. — VNA/VNS Photo Pham Kien

 

 The flooding situation during heavy rains has been included among eight criteria for the pricing of non-agricultural land in Hanoi, according to a recent decision of Chairman of the municipal People’s Committee, Tran Sy Thanh.

 

Accordingly, areas which are frequently flooded are expected to have lower land prices than others.

 

This decision aims to ensure transparency and fairness in land pricing, as well as encouraging investors to pay attention to improving the drainage system.

 

Other criteria included location, transport infrastructure, areas and the shape of the land plots, construction planning, environment and security, land use term and other factors which affect land prices such as cultural traditions, local customs and the distance to tourist spots.

 

Recently, many new urban areas in Hanoi were flooded every time there was heavy rain, such as Geleximco Le Trong Tan, Nam Thang Long – Ciputra and Văn Quan. However, housing prices in these areas kept rising significantly.

 

For example, asking prices of townhouses along Le Trọng Tan Street in Geleximco are up to VNĐ330-350 million per sq.m, nearly three times higher than 2021. Asking prices of villas in Nam An Khanh or Thien Đuong Bao Sơn also increased from VNĐ45 million per sq.m in 2021, to VNĐ140-160 million per sq.m.

 

Prices of new apartment buildings in this area are around VNDD80-100 million per sq.m.

 

In Ciputra in Tay Ho District, asking prices for villas range around VNĐ300-400 million per sq.m and apartments cost around VNĐ70-100 million per sq.m. — VNS

 

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