A good sign for home buyers is that after Tet, apartment prices in the two major cities of Hanoi and Ho Chi Minh City showed signs of slowing down. Data from Batdongsan.com.vn shows that the average selling price of apartments in Hanoi and Ho Chi Minh City in the first half of February 2025 was 62 and 57 million VND/m2, respectively. Meanwhile, the average price of apartments in January 2025 was 63 million VND/m2 (Hanoi) and 60 million VND/m2 (Ho Chi Minh City).
Thus, the selling price of apartments in these two cities is slightly decreasing. However, this is only a short-term fluctuation. The real estate market after Tet is changing positively when the number of real estate searches, the number of listings for sale and rent have increased and prices have leveled off, but to have better liquidity, many incentives are still needed.
Savills data also shows that the shortage of apartment supply in Hanoi is gradually improving, but overall apartment prices remain high, reflecting strong market demand. Housing demand is mainly from domestic buyers, supported by immigration and urbanization.
Savills forecasts that in 2025, the Hanoi market is expected to welcome 25,200 new apartments. The Class B segment continues to dominate, accounting for 88% of total future supply. Mega-urban projects will account for 70% of the market share. From 2026 onwards, about 70,000 apartments from 91 projects will be launched for sale. The Dong Anh, Hoai Duc and Hoang Mai areas are expected to contribute 52% of the new apartment market share.
According to Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, real home buyers, who mainly focus on apartments and private houses, are waiting to see if supply is more abundant in the hope that prices will adjust to a reasonable level. As for investors, they are also considering investment channels and areas. Given the complicated developments of the world market, which can bring both risks and opportunities to the domestic economy, investors are becoming more cautious.
Discussing the problem of buying a house for young people, comparing the average salary and house prices of the past and present, a representative of Batdongsan.com.vn said that not only Gen Z today but also young Vietnamese people, regardless of the era, face many difficulties in buying a house. In 2004, an individual of the 7x generation took about 31.3 years of income to buy an apartment (60m2) for 0.6 billion VND, under the condition that the mobilization interest rate was 7.4%. After 10 years, the number of years of income for an individual of the 8x generation to buy the above apartment was 22.7 years. The apartment price has increased to 1.5 billion VND while the mobilization interest rate has decreased to 6%.
Mr. Nguyen Quoc Anh believes that for those who buy real estate for residential purposes, buying at any time is the right choice, as long as the buyer has carefully calculated the financial plan and factors to ensure a comfortable life.
The expert recommends: “Although many investors and banks support loans up to 80-85% of the product value, buyers should have at least 30-40% of the “meat” money available, and be confident that the stable cash flow in the next 3-5 years is enough to maintain life before thinking about buying a house. If you still do not have enough finances, you should consider renting first.”
