According to recent data from the Vietnam Association of Realtors (Vars), about 80% of the supply of apartments for sale in Hanoi and Ho Chi Minh City has a selling price of VND50 million/m2 or more. Meanwhile, the affordable housing segment (priced under VND25 million/m2) has "extinct" and is almost unlikely to reappear in these two urban areas.
Updated data from the website Batdongsan.com.vn also shows that apartments under 2 billion VND/apartment are often long-used apartments with quite small areas and located in the suburbs of the city.
For example, in Ha Dong district, some apartments in Thanh Ha urban area, Kien Hung urban area, Nam Xa La apartment - Phuc La ward are being advertised for sale at 1.5 - 2 billion VND/unit. These are 1-bedroom apartments, with an area of 48-55 m2.
In Long Bien district, the number of apartments for sale with prices under 2 billion VND/unit is also quite small, mainly in Viet Hung urban area (Duc Giang ward), apartments in Sai Dong urban area...
In Hoang Mai district, some projects with apartments with selling prices under 2 billion VND/apartment appear in Kim Van - Kim Lu Urban Area, HH1 Linh Dam, Licogi 12...
In districts such as Dong Da, Ba Dinh, Thanh Xuan, apartments priced under VND2 billion/unit no longer have a shiny appearance, even in used houses.
Mr. Nguyen Van Luan (38 years old, working in Thanh Xuan district) said that recently, apartments in Hanoi with prices under 2 billion VND/unit have become increasingly scarce.
Many people working in the capital who want to buy a house like Mr. Luan have to accept going to suburban areas, far from the center to buy a house.
However, to buy an apartment in the suburbs at this price, according to Mr. Luan, is not easy, people mainly have to look for old projects that have been used for 3-5 years.
"In the current real estate market, most of the newly opened projects are in the high-end and luxury segments, while products in the mid-range and affordable segments are gradually scarce" - Mr. Luan said.
One Mount Center for Market Research and Customer Insight forecasts that primary prices are expected to continue to increase but the growth rate will slow down in 2025. Investors plan to implement many flexible price policies, creating conditions for many people to own a house.
Forecasting the real estate market in 2025, Ms. Duong Thuy Dung - CEO of CBRE Vietnam - said that apartment prices will not decrease but the growth rate will slow down, only about 5-8% compared to 2024.
Many real estate experts commented that the scarcity of new project supply has caused the apartment segment in Hanoi to increase in price abnormally in recent times, and predicted that the new apartment segment with a selling price of less than 50 million VND/m2 in Hanoi will gradually disappear.
