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 are priced at VND50 million/m2 or more, while the affordable housing segment (priced below VND25 million/m2) has become "extinct" and is almost unlikely to reappear in these two cities.
Updated data from the website Batdongsan.com also shows that apartments under 2 billion VND/unit are often used for many years, have a rather small area and are located in the outskirts of the city.
For example, in Ha Dong district, some apartments in Thanh Ha urban area, Kien Hung urban area, Nam Xa La apartment building - Phuc La ward are being sold for 1.5 - 2 billion VND/apartment. These are 1-bedroom apartments, with an area of 48-55m2.
In Long Bien district, the number of apartments for sale priced 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 for sale priced under 2 billion VND/unit appear in Kim Van - Kim Lu Urban Area, HH1 Linh Dam, Licogi 12,...
Particularly in districts such as Dong Da, Ba Dinh, Thanh Xuan, there are no longer any apartments priced under 2 billion VND/unit, including used ones.
In the suburbs of Hanoi such as Thanh Tri district, Dai Thanh and IEC Tu Hiep apartments are currently one of the most popular projects with prices listed below 2 billion VND/unit.
According to the investigation of Lao Dong Newspaper reporters, with the rapid growth of the apartment segment, recently, apartments priced under 2 billion VND/unit have become increasingly scarce.
Many people working in Hanoi who want to buy a house have accepted to go to the suburbs, far from the city center to buy a house. However, to buy an apartment in the suburbs at this price is not easy, people mainly have to look for 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 becoming scarce.
In Hanoi, commercial apartments priced under 25 million VND/m2 are almost non-existent, and the prices of new products on the market are quite high, averaging 60-120 million VND/m2.
Forecasting the trend of apartment prices in the coming time, Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam - commented that the price level of apartments in the coming time will be very difficult to decrease. However, this expert predicts that the real estate market in 2025 will be flat and anchored at a high level, no longer as hot as it is now.
