Market surveys show that property prices in inner-city areas such as Hoan Kiem, Ba Dinh, and the former Dong Da remain extremely high. Most houses in these districts, even those in narrow alleys, rarely fall below VND100 million per sqm. Finding a home just over VND1 billion in the inner city is considered a difficult task.

According to Quan, a real estate broker, buyers can still find homes in central Hanoi for slightly over VND1 billion. Although supply is extremely limited, a few listings priced between VND1–1.7 billion do exist, mostly ultracompact homes, sometimes only 5–6 sqm, located deep inside alleys with multiple drawbacks.

Quan noted that only a few of these homes come with a red book (land use right certificate); while the rest are older constructions or do not meet the minimum area required for separate title issuance.

The broker introduced a property in central Dong Da priced slightly above VND1 billion. Due to its low price, the house comes with several limitations: the floor area is just over 6 sqm, it sits 30–40 meters from the main road, and the access alley is quite dark. The staircase is small and steep, causing inconvenience in daily movement.

To maximize space, the owner built up to 5 floors: the first floor is a kitchen with a loft for storage; the second floor functions as a living room; the third floor holds a bedroom and restroom; the fourth floor is an additional bedroom; and the fifth floor is a rooftop storage space. The home is suitable for singles or young couples willing to accept limited space in exchange for a prime location.

He introduced another house near Van Mieu, priced around VND1.68 billion and with full legal status. The home measures about 6 sqm, has a frontage of just over 1 meter, and consists of 4 floors plus a small rooftop level.

However, the interior space is extremely constrained. The windows can barely be opened due to the proximity of neighboring houses, and daily living is highly inconvenient because the house does not have its own restroom. Residents must use a shared restroom across the alley.

The broker even joked that getting in and out of the house requires squeezing sideways, “like doing exercise.” Given its proximity to a tourist area, the property is better suited for short-term rentals targeting travelers seeking a unique old-quarter living experience.

In the Van Mieu area, one of Hanoi’s historic and most central locations, property prices are significantly higher than surrounding areas. Street-front houses are typically listed at VND300–450 million per sqm, depending on location, condition, and frontage width.

Homes in car-accessible alleys range from VND200–270 million per sqm, while properties in alleys accessible only by motorbike generally fall between VND140–190 million per sqm.

In the Tan Mai area, a broker named Thao is advertising a house priced slightly above VND1 billion. Although located at the end of an alley, the home is relatively airy, with windows and a frontage of more than 1 meter. The ground floor is used as a kitchen, and the upper floors can be converted into bedrooms.

According to Thao, the house is suitable for singles, students, or parents buying accommodation for their children to stay during university years. Thanks to its not-too-far-from-center location, the property also has reasonable liquidity if resold.

Currently, in Tan Mai (former district of Hoang Mai), street-front houses are listed at VND260–380 million per sqm depending on location and frontage width. Houses in car-accessible alleys are priced at VND160–220 million per sqm, while homes in motorbike-only alleys usually range from VND120–160 million per sqm.

With a budget of just over VND1 billion, buyers can still secure a house in central Hanoi, but must accept major trade-offs such as ultralow area, deep alleys, steep staircases, poor lighting, and sometimes the lack of a private restroom.

Despite the low prices, these small houses do not have strong liquidity, and finding a suitable buyer may take considerable time. Many buyers hesitate due to the inconveniences of living in such tiny, deep-alley homes.

Brokers said buyers must think carefully before committing. Living quality is a major concern, as most of these homes have extremely limited space, steep stairs, poor natural light, and in some cases, no private restroom - all of which are problematic for long-term living.

Duy Anh