The end of the year is the time when the demand for buying a house increases. However, in the context of the market still lacking new supply, buyers do not have many options when looking for apartment projects in Hanoi.
In the primary market, newly opened apartment projects in Hanoi have many advantages such as preferential sales policies, payment schedules according to construction progress, and easy access to home loan packages. However, most of the supply comes from high-end and luxury projects, lacking mid-range and affordable products, so the price of new apartments in Hanoi is currently high, around 60-120 million VND/m2.
Currently, the supply of new Hanoi apartment projects is still mainly concentrated in the West, with projects belonging to the Vinhomes Smart City urban area in Nam Tu Liem district, in addition to the supply from projects in Dong Da, Ha Dong, Tay Ho, Hoai Duc. In the East, the market also welcomed a new luxury apartment project introduced in Gia Lam.
Accordingly, 13 apartment projects will open for sale in the fourth quarter of 2024, including: Lumi Hanoi, Lumiere Evergreen, The Miami - GS5 Building, The Victoria, Imperia Sola Park, Noble Crystal, The Ninety Complex, The Nelson Private Residence, QMS Top Tower, Grand Sunlake, The Wisteria, The Matrix Premium (The Matrix One phase 2).
In particular, in Nam Tu Liem district, projects such as Lumi Hanoi have common selling prices from 70-100 million VND/m2; Lumiere Evergreen project has prices from 66-90 million VND/m2, The Miami project - GS5 building has prices from 65-75 million VND/m2; The Victoria project has prices from 80-85 million VND/m2.
In addition, the Imperia Sola Park project costs 65-75 million VND/m2; the QMS Top Tower project costs 70-85 million VND/m2; the Matrix Premium project (The Matrix One phase 2) costs 90-120 million VND/m2.
In Tay Ho district, the Noble Crystal project, located in the Nam Thang Long – Ciputra urban area, has prices ranging from 165-270 million VND/m2.
In Dong Da district (Hanoi), The Ninety Complex is one of the few new apartment projects opening for sale at this time, with apartments priced at VND80-90 million/m2. Regarding progress, the Ninety Complex project has been topped out and is completing the interior of the apartments to meet the expected handover schedule in the second quarter of 2025.
In Ba Dinh district, The Nelson Private Residence project is priced at 135-140 million VND/m2. According to the investor's announcement, The Nelson Private Residences project has completed all procedures to launch the market and open for sale in the near future.
The Grand Sunlake project is located right at the gateway to Van Quan urban area, Ha Dong district. For 3-bedroom apartments, the selling price of 50-year ownership is only 37-38 million/m2, while the price of long-term ownership is around 47-48 million/m2. The project is currently under construction, expected to hand over apartments in the fourth quarter of 2025.
Projects in districts on the outskirts of Hanoi such as The Wisteria (Hoai Duc, Hanoi) are priced at 45-55 million VND/m2; The Senique Hanoi (Gia Lam, Hanoi) is priced at 70-80 million VND/m2.
Mr. Tran Quang Trung - Business Development Director of OneHousing commented that although the apartment supply has shown clear signs of recovery, investors continuously launched new products in the third and fourth quarters of 2024, prices have not decreased because the new supply is mainly in the high-end and luxury segments.
“It is forecasted that all primary supply in Hanoi in 2025 will be in the high-end and luxury segments, of which luxury accounts for 36%,” Mr. Trung commented.
