At the end of 2024, while apartment prices have maintained an upward trend for a long time, analysts expect this segment to cool down quickly because the market has developed too hot. Providing a forecast of market trends at that time, Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam - said that the price level of apartments in the coming time will be very difficult to decrease. However, the expert predicts that the market will move sideways next year (ie 2025) and not be as hot as it is now (2024).
"A market that is after a period of development that is too hot will at least move sideways and cannot increase forever" - Mr. Quoc Anh commented.
Meanwhile, Mr. Le Dinh Chung - General Director of SGO Homes - said that the main reason for the high housing prices is that large investors monopolize the supply, leading to prices. In addition, high investment costs, high demand while scarce supply make investors have higher expectations for profits, which is also the reason for pushing prices up unusually high.
The General Director of SGO Homes predicts that Hanoi apartment prices are still in an upward trend in the short term, at least from now (end of 2024) to mid-2025.
In the long term, with Government solutions such as developing social housing and removing legal obstacles, real estate prices will be controlled and kept stable. However, these solutions are only to avoid price escalation, and it is impossible to let apartment prices drop sharply.
Many experts at that time also expected the market to cool down soon thanks to a series of solutions such as developing social housing, removing legal obstacles, adding new supply sources... But the actual market developments in 2025 have exceeded all expectations and forecasts, the apartment market in 2025 will enter a stronger price increase phase.
Recently published information from the Ministry of Construction shows that in the first 9 months of 2025, the average selling price of primary apartments in Hanoi reached 70-80 million VND/m2, an increase of 5.6% compared to the beginning of the year and 33% compared to the same period in 2024.
Notably, many luxury projects have recorded prices from 150 to 300 million VND/m2. In Ho Chi Minh City, the average primary price is about 75 million VND/m2, stable compared to the first quarter of 2025 but increasing by 36% compared to the same period last year. Some high-end projects in the center and new urban areas have reached the threshold of 150 million VND/m2 or more.
According to Mr. Nguyen Minh Hai - a real estate broker with more than 10 years of experience in Hanoi, "never before has the Hanoi apartment market increased prices as strongly as this year. Even projects opened for sale far from the center have increased by several million VND per square meter in just a few months, mainly due to the fear of prices continuing to escalate".
Mr. Hai said that many customers have shifted from the mentality of waiting for discounts to "buying early to get cheap prices", making transactions in the mid- and high-end segments still vibrant.
Analysts said that this scenario shows that the market is following a more unpredictable trajectory than expected. Instead of cooling down, apartment prices continue to be affected by increased input costs, limited supply and investor profit expectations, causing the upward trend to show no signs of stopping. This has caused apartment prices in large cities to continue to stay high, showing no signs of stopping.
