The apartment segment is currently the focus of the real estate market. The end of the year is usually the busiest sales season, and apartment prices and projects on sale are also of greater interest.
In Hanoi, the market is recording dozens of projects with new products for sale (including old and new projects). According to a survey by Lao Dong Newspaper reporters, most of the newly opened supply is in the high-end and luxury segments, lacking products in the mid-range and affordable segments.
New commercial housing for sale at prices below VND35 million/m2 no longer appears, the market no longer has primary products in this segment. Even higher prices, averaging VND38-45 million/m2, only appear in one project, Grand Sunlake at 135 Tran Phu, Ha Dong district.
The average price of primary products in Hanoi is currently quite high, ranging from 60-120 million VND/m2. Even some high-end apartment projects in the suburbs of Hanoi are being offered for sale at hundreds of millions of VND/m2 such as Masteri Grand Avenue (Dong Hoi, Dong Anh) with an average price of 90-120 million VND/m2. MIK Group is also introducing Imperia Co Loa apartments (Dong Hoi, Dong Anh) to the market with prices ranging from 90-110 million VND/m2.
In the inner city districts of Hanoi, the market has recorded a number of projects being opened for sale with the highest price of up to nearly 300 million VND/m2 such as Noble Crystal in Nam Thang Long - Ciputra Urban Area with an average selling price of 170-270 million VND/m2; The Nelson Private Residence project at 29 Lang Ha, Ba Dinh district with an average selling price of 135-140 million VND/m2; Endless Skyline West Lake project on Vo Chi Cong street, Tay Ho district with an average selling price of 90-115 million VND/m2.
In other areas such as Ha Dong and Gia Lam, some projects have selling prices approaching 100 million VND/m2 such as QMS Top Tower at the intersection of To Huu and Vu Trong Khanh, which is the border between Nam Tu Liem and Ha Dong districts, with an average selling price of 70-85 million VND/m2 for normal apartments; 95-98 million VND/m2 for corner apartments in beautiful locations.
Or The Senique Hanoi project located in Vinhomes Ocean Park urban area in Gia Lam has an average selling price of 70-80 million VND/m2.
Looking at the statistics table of newly opened projects, an easily recognizable feature is that the current supply of apartments is not diverse, home buyers do not have many choices. Apartments are mainly in the high-end segment and "clustered" in a few projects, there are not many investors "with goods" either, mainly belonging to some big and familiar names such as Masterise Homes, MIK Group, CapitaLand, Hung Thinh.
Commenting on the current selling prices and liquidity of apartments, Ms. Nguyen Hoai An - Senior Director of CBRE Vietnam - said that most of the newly launched projects are located in existing urban areas with high prices. In addition, the selling prices are at a high level partly due to the large investment demand, the cash flow is still pouring into products serving the real housing needs in the center. Therefore, market liquidity is still maintained positively.
