Vietnam Real Estate Brokers Association (VARS) has just held an event to publish the Vietnam Real Estate Market Report in the first quarter of 2025. According to VARS data, the supply of real estate market (real estate) in Vietnam reached 27,000 products, an increase of 33% compared to the same period in 2024. Of which, there were 14,500 new products offered, only about half of the previous quarter but tripled compared to the first quarter of 2024.
Housing real estate supply continues to grow positively, as the number of newly approved housing projects is improving, with an increase of 18% in 2024.
Ms. Pham Mien - Deputy Director of the Vietnam Real Estate Market Research and Evaluation Institute - said that the real estate offering price level is increasing, when cost pressure, especially land-related expenses increases in the context of increasingly scarce land funds, investors continue to tend to develop high-end projects to ensure profit goals.
The price index reflects the average price fluctuations of the period (at the moment) compared to the original period (quarter I/2019) of the projects in the project sample selection selected and observed by VARS, in the first quarter of 2025, the Hanoi region continues to lead the country in terms of growth rate of apartment selling price. Compared to the original period, the average selling price of projects in the sample collection increased by Hanoi (77.6%), Da Nang (58.6%) and Ho Chi Minh City (35%).
The selling price of apartments in Hanoi in the first quarter of 2025 reached an average of VND70.2 million/m2, up slightly by 2.5% compared to the previous quarter and up sharply by 77.6% compared to the original period. The price increase is mainly due to investors reopening and selling projects with adjusted price increases.
The Ho Chi Minh City area recorded an average selling price of 71.8 million VND/m2. Apartment prices of projects in the sample have almost not increased compared to the previous quarter, but compared to the original period, they recorded an increase of 35%.
Primary selling prices are "shipped" at a high level, maintaining the housing price level at a high level, which is part of the reason why a part of the younger generation is having to choose between renting a house instead of buying a house.
Ms. Pham Mien - Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation - added that in the secondary market, transactions and prices of low-rise products and land have also recorded a sharp increase. Especially in the suburban areas of Hanoi, thanks to the benefits of a series of newly implemented projects with high selling prices. Even many villas and townhouses that have been abandoned for many years are being advertised for sale at prices increasing by 30%, even double compared to 2023.
However, in reality, the transaction volume and transaction prices are only recorded to increase in plots of land with reasonable investment value, usually below VND2 billion, with legal guarantees in areas with infrastructure under implementation or in low-rise products in large urban projects around the area that have been invested in infrastructure, and have full utility services.
Another prominent development is that the market is still affected by planning and investment information. Accordingly, information about the merger of provinces and cities, congs with the announcement of new land price lists by many localities, many times higher than the current price list, and the FOMO (fear of missing opportunities) mentality of real estate investors, making land "hot".
Many localities recorded prices increasing from 5 to 30% such as Ninh Binh, Ha Nam, Hai Phong, Bac Giang, Hai Duong, Hanoi suburbs... However, in reality, transactions only recorded an increase in provinces and cities predicted to be merged centers, with developed transport infrastructure, economy, and society, and real estate prices not too high.
