The latest survey from Batdongsan website shows that Hanoi apartment prices are continuing to increase continuously in the last months of 2024.
According to Batdongsan, from the beginning of 2024 until now, the Hanoi apartment market has only had one "quiet period" in April and May, the rest of the year has recorded an upward trend in selling prices.
For example, in Thanh Xuan district, a 2-bedroom apartment at the Imperial Plaza project in August 2024 had a price of 5.2-5.3 billion VND/unit, but up to now, the selling price has increased to 5.4-5.5 billion VND/unit.
During the same period, the price of 2-bedroom apartments at the Rivera Park project also increased from 5.5-5.6 billion VND/apartment to 5.7-5.9 billion VND/apartment. The price of 2-bedroom apartments at the Goldseason project also increased from 5.4-5.5 billion VND/apartment to 5.6-5.8 billion VND/apartment.
In Nam Tu Liem district, 2-bedroom apartments at Vinhomes Smart City project, in August 2024, the price of this type of apartment was offered at 3.5-3.6 billion VND/apartment, but now it has continued to increase slightly to 3.7-3.8 billion VND/apartment.
At the Golden Palace project, the selling price for an area of 85m2 in August 2024 was still popular at 4.7-4.8 billion VND/unit, but up to now, the offering price is over 5 billion VND/unit.
In Cau Giay district, apartment A10 Nam Trung Yen, with 2 bedrooms, 1 bathroom, area of 66m2, the asking price continued to increase from 4.6-4.7 billion VND/apartment to 4.8-5.2 billion VND/apartment. Projects A14 Nam Trung Yen, buildings B10, A6 Nam Trung Yen also recorded an average price increase of 100-200 million VND/apartment in the past 2 months.
Home City project apartments, 2-bedroom, 2-bathroom type, also continued to increase in price from 4.8-5.1 billion VND/apartment to 5.2-5.5 billion VND/apartment. An increase of about 300 million VND in the past 2 months was also established at the 219 Central Field Trung Kinh project.
Ms. Nguyen Hoai An - Senior Director of CBRE Vietnam branch in Hanoi - said that the selling price of apartments in Hanoi will continue to increase in the coming time.
It is forecasted that in the last quarter of 2024, new supply will record more than 10,000 units, bringing the total number of newly opened apartments for sale in 2024 to nearly 30,000 units, nearly 3 times the number of apartments opened for sale in 2023, the highest supply in the past 5 years, expected to focus on the high-end segment.
Experts predict that there will be more luxury projects launched for sale by the end of 2024, continuing to push up primary prices in the last quarter of the year. In addition, secondary prices will continue to increase in the context of abundant primary supply, but with a more stable increase.
Sharing the same view, Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - said that if Hanoi apartments in particular and other residential real estate segments continue to increase in price, in the long term, it will cause great instability for the market.
Mr. Dinh recommended that management agencies should soon take measures to "clear" the way for the affordable commercial housing and social housing segments. Along with that, investors need to step up research and product development in line with trends and affordability of the majority of people.
