According to Lao Dong reporters, in the central districts of Hanoi such as Dong Da and Thanh Xuan, there are almost no new projects. Some old projects have common prices of about 80 - 100 million VND/m2, small apartments are also about 70 m2. Thus, with a budget of 4 billion VND, it is difficult to "hunt" in this area.
New apartments priced at 4 billion VND are mostly located in suburban areas of Hanoi and have an area of about 42 - 48 m2, equivalent to a 1-bedroom apartment.
Around October and November 2024, the Imperia Sola Park project (in Nam Tu Liem district, Hanoi) attracted a lot of attention from customers. The common selling price is around 65 - 76 million VND/m2. In which, 2-bedroom or 2-bedroom +1 apartments are priced at over 4 billion VND.
Nam Tu Liem District is also home to the Lumi Hanoi Project. The product from investor CapitaLand has an average price of 80 million VND/m2.
On the transfer market, 42 m2 one-bedroom apartments are being resold for VND3.4 billion. This figure is about VND300 million higher than the price announced by the investor in the first sale in April 2024. The expected handover date is 2026.
Meanwhile, some projects are expected to open for sale this year 2025 such as Vinhomes Ocean Park 1 urban area (Duong Xa commune, Gia Lam district), The Senique Hanoi project invested by CapitaLand Vietnam with about 2,150 apartments. The expected selling price of apartments is 70-80 million VND/m2, handed over in 2027.
The Lake subdivision belongs to Vinhomes Ocean Park 1 urban area, invested by Masterise Homes with a scale of about 2,500 apartments. The expected selling price of apartments is 74-85 million VND/m2, handed over in 2027.
According to data from many real estate market research units, the current housing supply in Hanoi is no longer as scarce as in early 2024, but housing prices have not shown signs of "cooling down".
According to the Vietnam Real Estate Brokers Association, in 2024, the entire market will record nearly 10,000 apartments priced at VND80 million/m2 or more, an increase of more than 3 times compared to the same period in 2023.
Regarding selling prices, data from CBRE shows that, as of the fourth quarter of 2024, the selling price of apartments in Hanoi reached 72 million VND/m2 (excluding VAT).
Ms. Nguyen Thi Bao Yen (32 years old, living on Ho Tung Mau street, Cau Giay) said that if she worked in an office with a basic monthly salary of more than 12 million VND without support from relatives or a bank loan, it would be difficult to buy a new apartment.
According to Ms. Yen, with 4 billion VND, it is very difficult to buy an apartment in the city center at this time. "With this amount of money, you can only buy in projects far from the city center or old apartments" - Ms. Yen said.
Ms. Duong Thuy Dung - CEO of CBRE Vietnam said that in 2025, housing prices will not decrease but will not increase as quickly as in the recent period. The increase in 2025 could be from 5 - 8% compared to 2024.
