The last months of the year are usually the busiest sales season for real estate businesses. In Hanoi, the market is recording dozens of projects with new products for sale (including old and new projects).
However, home buyers still do not have many choices because primary products, including projects located quite far from the center, in suburban districts of Hanoi, all have very high selling prices.
According to a survey by Lao Dong Newspaper reporters, the selling price of some apartment projects in suburban areas of Hanoi has reached 70-80 million VND, even hundreds of millions of VND/m2.
In Dong Anh district, an apartment project is attracting the attention of the market with prices up to hundreds of millions of VND/m2. Accordingly, the Masteri Grand Avenue project (Masteri Co Loa Dong Anh) in Dong Hoi commune, Dong Anh district, invested by Masteri Home, is currently being sold at a common price of up to 90-120 million VND/m2 - the highest price in the suburban districts of Hanoi to date, even higher than many high-end apartment projects in the inner city of Hanoi.
Ms. Linh - a broker selling the Masteri Grand Avenue project - said: "The selling price of the apartment depends on the area, location of each apartment and the payment policy chosen by the customer. If the home buyer pays early, they will enjoy a preferential discount policy, the selling price of many apartments is only under 90 million VND/m2. Apartments with good locations will cost around 110-120 million VND/m2,...".
Another project is The Senique Hanoi in Duong Xa Commune, Gia Lam District, Hanoi, which was just started on October 17 by CapitaLand. Currently, the investor has not announced the official opening time and selling price. However, market research has been carried out, with the asking price appearing on the market at 70-80 million VND/m2.
Or the QMS Top Tower project located on To Huu Street, Nam Tu Liem, Hanoi also attracted attention when it returned to the market after many years of "inactivity". The average selling price of this project is up to 70-85 million VND/m2.
It can be seen that the apartments offered for sale at hundreds of millions of VND/m2 are extremely high prices for projects in the suburbs of Hanoi, causing many people to question the competitiveness and liquidity of apartment products here.
Sharing about current apartment prices, Mr. Nguyen Quoc Khanh, Vice President of the Vietnam Association of Real Estate Brokers (VARS), said that during his 15 years in the profession, what he did not expect was that apartment prices in suburban areas had increased to 60-70 million VND/m2.
Mr. Khanh also said that with the current high price of apartments, the ability to access housing for people, especially those with average and low incomes, is increasingly difficult. With the average salary of workers today, if they buy a house, they will hardly have enough money to pay the bank loan interest.
According to the latest report of the Ministry of Construction, in the third quarter of 2024, apartment prices in Hanoi continued to increase in both new and old projects. The price level of new projects increased by about 4-6% quarterly and 22-25% annually, especially in some areas, prices increased locally by about 35% to 40% depending on the location compared to the previous quarter.
