The scarcity of supply has caused the selling price of old apartments in Da Nang City to continuously increase. Notably, newly opened projects in Da Nang City are all in the high-end and luxury segments, while products in the mid-range and affordable segments are scarce.
Mr. Nguyen Van Dai (32 years old, working in An Hai ward) is looking for old apartments with prices under 2 billion VND. Last month, Mr. Dai also followed the real estate broker to see the old apartment for sale in Son Tra ward.
"The old apartment is 54m2 wide, for sale at 1.82 billion VND, equivalent to nearly 34 million VND/m2. Apartment prices have increased too much, while newly opened projects are all in the high-end segment, so I have to switch to buying old apartments" - Mr. Dai said.
According to a survey by Lao Dong, in Son Tra ward, many old apartment projects are being advertised for sale at prices ranging from 1.5-3 billion VND, depending on the area.
For example, a 57m2 apartment with full furniture is being advertised for sale by its owner for 2.6 billion VND, equivalent to more than 45 million VND/m2; Another apartment with an area of 52m2, selling price from 1.7 billion VND, equivalent to more than 32 million VND/m2.
In Cam Le ward, many old apartments are being advertised for 1.8 - 2.6 billion VND/unit. Notably, some new apartment projects here are priced at over VND50 million/m2.
According to the Vietnam Association of Realtors (VARS), housing prices in Hanoi, Ho Chi Minh City and Da Nang have been continuously climbing over the years, while people's income has increased slowly. This gap makes home buying a big challenge, even for high-income people.
Research data from the Vietnam Institute for Real Estate Market Research (VARS IRE) shows that by the end of the second quarter of 2025, the apartment price index in Hanoi, Da Nang and Ho Chi Minh City had increased by 87.7%, 69.8% and 48.3% respectively compared to 2019. The average selling price is currently at 75.5 million VND/m2 in Hanoi, 66.4 million VND/m2 in Da Nang and 77.1 million VND/m2 in Ho Chi Minh City.
Faced with the reality of continuously escalating housing prices and far exceeding people's affordability, at the meeting of the Central Steering Committee on housing policies and the real estate market on September 22, Prime Minister Pham Minh Chinh requested relevant agencies to clarify the reasons, and at the same time, rectify the situation of hoarding and price inflation if any.
Prime Minister Pham Minh Chinh emphasized that developing social housing for low- and middle-income people is an important task to balance product structure and ensure social security.
