According to Lao Dong reporters, many old apartments in Nam Tu Liem district (Hanoi) with selling prices of about 5 billion VND/unit are attracting many investors.
For example, My Dinh Plaza apartment (Nam Tu Liem district, Hanoi) with an area of about 60m2 is being offered by its owner for 4.7 billion VND/unit. Also in this project, a 100m2 apartment with a 3-bedroom design is being advertised for 5-6 billion VND/apartment, including furniture and interior.
At the FLC Complex apartment project (Pham Hung street, Nam Tu Liem district), the apartment type of over 50m2 is still priced from 3.99.4 billion VND. The apartment type of over 70m2 still has an asking price of 5.2-5.5 billion VND in early 2025.
Also in Nam Tu Liem district, 2-bedroom, 2-bedroom apartments in the Golden Palace apartment project (Me Tri ward, Nam Tu Liem district) are still maintaining the asking price of 4.6-4.7 billion VND/apartment.
Mr. Tran Van Minh (real estate broker in Hanoi) informed that the selling price of old apartments in inner-city districts has recently continuously increased due to the scarcity of new projects.
Mr. Minh said that the price range of old apartments from 4-5 billion VND/unit is being sought after by buyers because it has a suitable price, located in the inner city area, making it convenient to move and live.
Ms. Nguyen Hoai An - Senior Director of Hanoi Branch of CBRE Vietnam - commented that the supply of apartments in Hanoi in the first quarter of 2025 is coming from 7 new projects, providing the market with about 4,000 apartments.
According to experts, apartment prices in Hanoi have increased due to the high input costs of a commercial housing project. Of which, land cost accounts for 25%, at the "golden" position accounts for 40-50% of cost; in addition, the construction cost group is tending to increase quite high in recent times.
The recent report on housing and real estate market information from the Ministry of Construction noted that apartment prices are remaining stable, no longer increasing "hotly" as in 2024.
Notably, the affordable apartment segment is currently priced under VND45 million/m2, the mid-range segment ranges from VND45 - 70 million/m2, the high-end segment from VND70 - 100 million/m2 and the super luxury segment can reach nearly VND200 million/m2.
Assessing the prospects for primary apartment prices in the second quarter of 2025, Ms. Do Thu Hang - Senior Director of Savills Hanoi Consulting and Research Department - commented that apartment prices will increase steadily, making it unlikely to increase as much as in previous stages.
Accordingly, Hanoi apartment prices will continue to increase in the coming time. The reason is that the large proportion of the current apartment supply is concentrated in the high-end segment. The market is lacking mid-range apartments and there are almost no low-cost apartments left.
