In the areas with high construction density, life quality , urban facilities, houses has not meet the living conditions but there are strong vitality with bustle trading to create economic area in the Old Quarter or on the commercial streets, in the main street of Hanoi city. Therefore, the land value is also the highest and the most expensive.
However, the old quarter adjacent to the old town which was built following a master plan, with the aim to build the "garden" urban area, traffic system of coherent and synchronous chess board type, moderate capacity, density of construction works, in which low-rise housing projects (villas, street houses ...) are arranged in the overall landscape of green trees and water trees... still has strong vitality, land values and bring the highest quality of life.
So what are the reasons that contribute to the vitality of the city and the area?
Firstly, it must be a “location” factor, creating a regional position. Good soil quality for construction and convenient location for transport, synchronous connection with high quality operation functions and services within the shortest range and distance. And certainly, the central area of the city often has the highest residential and construction density (including residential and construction) for convenience, and it is easy to create strong vitality. There is the saying "the best house location is near the market, and second best location is near the river" also mentions the criteria when selecting the location of construction works in the densely populated area, convenient for trading, transportation and easy transportation approach.
In the centralized economic planning, the identification of subjects, topics, and functional levels as well as building an attraction in the construction investment of the whole area such as the areas around the new center zones, universities, manufacturing factories, large hospitals ... create "follow-up" utility services such as houses for students, workers, officials, medical services, pharmacies, food stalls...
After implementing the renovation policy, especially from applying the policy of mobilizing all social resources to invest in building houses, many high buildings and urban areas have appeared and been built with high density but has brought a new look, new and vigourous vitality. The greatest manifestation of vitality is that the value per square meter in these areas is "overwhelming", including high or low-rise houses.
High rise building construction is understandable and being an indispensable element of a developed city with a high rate of urbanization and limited land, especially before Hanoi expanded its administrative boundaries in August 2008 with only 921km2. Being the the Capital, the cultural and economic politics center... of the whole country, the living and working conditions has attracted more and more people to Hanoi to live and work; therefore, the land value has been pushed up.