Advice
Buying mini apartments: Good watch prevents misfortune
24/10/2018 18:38 | Source: Hanoimoi
Recently, supply of social housing, affordable housing for low-income people is relatively scarce, while demand for these low-cost homes is so large. Therefore, many buyers decide to choose a mini apartment.

Location is one of the advantages of mini apartments. They are usually located in the central district, near the downtown. With diversified area ranging from 25-50 m2, mini apartments are listed for from VND400-900 million per unit. These prices are suitable for the majority of employees.

Buying mini apartments: Good watch prevents misfortune 1
Except for affordable prices, mini apartments also have some risks, so buyers 
should consider carefully before making decisions

However, mini apartments also have some big disadvantages, including the onwers' rights and untransparent legal documents. The majority of mini apartment projects are now sold through a bilateral contract, together with a copy of Certificate of Land Use Rights for the land parcel but not a “red book” for each apartment like other housing projects. 

In addition, during construction, many developers also arbitrarily change the design, increasing the number of floors and violate the order of construction. Therefore, transferring these apartments is not easy and lots of owners have to suffer losses. Besides, after handover, developers rarely care about maintenance, so residents will have to repair degraded or damaged items themselves.

From a management viewpoint, the term “mini apartment” is just a word of mouth. In fact, these works are only licensed as individual houses. After finishing construction, the owners will split their homes into mini apartments for sale. These modified apartment buildings are also contributing factors that lead to overload technical infrastructure. This situation usually occurs because developers do not comply with legal requirements for construction. In addition, regulations on granting certificates of ownership for mini apartments are unclear and management and supervision of local authorities is not strict enough.

Therefore, before deciding to buy a mini apartment, buyers should be careful, not put too much trust in the ads on the Internet.