On the morning of June 2nd, in Hanoi, the Vietnam Association of Realtors organized the seminar "Northern Hanoi in the new development space structure of the Capital".
Speaking at the opening of the conference, Dr. Nguyen Van Dinh - Vice Chairman of the Vietnam Real Estate Association, Chairman of the Vietnam Association of Realtors said that Hanoi is facing the requirement to restructure its development space to solve the increasing pressure in the central area.
According to Mr. Dinh, the rapid urbanization process in recent years has brought many achievements to the Capital but also entailed a series of challenges such as infrastructure overload, population pressure, lack of quality living space and continuously rising housing prices.
In that context, Hanoi not only needs to supplement the housing supply but also to form new urban development poles with synchronous infrastructure, services and utilities, meeting the actual living needs of the people.
The real estate market is entering a new phase. Real estate value is no longer decided by short-term expectations or feverish rumors of planning, but must be built on the foundation of clear legality, synchronous infrastructure, real needs and real development capacity," Mr. Dinh emphasized.
Assessing the Northern Hanoi area, Ms. Pham Thi Mien - Deputy Director of the Vietnam Real Estate Market Assessment Research Institute (VARS IRE) said that the Northern Hanoi area is converging many growth drivers from planning, infrastructure, logistics, industry, population expansion trends and the participation of large real estate developers.
Research data from VARS IRE shows that in the first 5 months of 2026, new supply in the Northern Hanoi area reached more than 1,400 products. Although the market is still facing many difficulties, the absorption rate still reaches about 56%, reflecting positive demand.
According to Ms. Mien, Me Linh is currently considered the last "low-price area" of Hanoi. While the price of low-rise real estate in Tay Ho Tay ranges from 480 million VND to 1 billion VND/m2, Dong Anh is commonly from 180-400 million VND/m2 and projects along the ring roads are at 200-300 million VND/m2, many projects in Me Linh are currently only around 80-120 million VND/m2.
This price level is only equivalent to about 1/3 to 1/2 compared to neighboring areas with similar locations, even only about 20% of the value in the new Tay Ho Tay administrative center area. According to VARS IRE representatives, the current price gap shows that Me Linh still has significant growth potential when considering the relative location, land fund, connectivity and urban development potential.
Regarding market trends, Mr. Le Dinh Chung - Deputy General Director of SGO Land - said that investors' tastes are clearly changing. If previously cash flow mainly sought short-term price increase opportunities, now investors are more interested in the ability to form a residential community, operating quality, utility ecosystem and real estate exploitation value.
In the coming time, cash flow will prioritize urban areas that are synchronously developed in terms of infrastructure and utilities in a green direction, integrating experiences, resorts and health care spaces.
It is forecasted that in the next 5-10 years, the advantage will belong to areas with strong connecting infrastructure, attracting real residents and forming a complete commercial - service ecosystem, creating a foundation for sustainable growth of the real estate market in Northern Hanoi.
