Mr. Tran Van Xuan (owner of an apartment in Tay Mo ward, Nam Tu Liem district) shared that his family bought a house here in 2018 for 2.5 billion VND, but up to now, the apartment The apartment building has been offered for sale for nearly 4 billion VND.
"In early 2024, my family was very surprised when the apartment next door was selling for nearly 4 billion VND. After only 1 week of posting, someone came to deposit 1.2 billion VND in advance.
So, after 6 years, the apartment I own has increased in price by nearly 1.5 billion VND, not including furniture and fixtures" - Mr. Xuan said.
Owning an apartment of nearly 60m2 in Hoai Duc district (Hanoi), Ms. Nguyen Thi Thanh Huyen shared that many apartments here are being offered for sale at 45-50 million VND/m2, an increase of 10-20 million. VND compared to the end of 2023.
Although the price continued to increase unusually high, Ms. Huyen's family decided to spend money to buy another apartment for 3 billion VND/unit to rent out long-term.
According to real estate experts, in the first 6 months of 2024, the apartment market continues to have growth in prices and transactions, expected to continue to make a breakthrough in the last 6 months of the year.
Mr. Le Dinh Chung - General Director of SGO Homes Real Estate Investment and Development Joint Stock Company - commented that Hanoi apartments will continue to have an upward trend in selling prices with an average increase of 5-10 % from now until the end of 2024.
Notably, this upward momentum will continue next year because in the short term, Hanoi's apartment supply has not changed significantly.
In fact, apartment prices in Hanoi's inner city are increasingly escalating, currently the average price ranges from 50-100 million VND/m2. Projects with prime central locations have selling and transaction prices of up to 100-150 million VND/m2.
Sharing the same opinion, Ms. Pham Thi Mien - Deputy Head of Research Department of Vietnam Real Estate Brokers Association (Vars) - also predicted that the apartment market in particular and the Vietnamese real estate market in general will continue to Continue to grow in the last 6 months of 2024 thanks to strong support.
According to Vars, in the primary market, apartments with selling prices from 50 million VND/m2 have the best transaction results, accounting for over 40%. Primary selling prices continue to increase, as new supply is mostly completed and positioned to high standards.
Some mid-range apartment projects in Hanoi also increased prices by 3-5% due to increasingly scarce supply in this segment. As of the second quarter of 2024, the average primary market selling price of Hanoi apartments is close to 60 million VND/m2.
