At the 2024 real estate market overview event, CBRE Vietnam recently said that while Ho Chi Minh City continues to have limited new supply for sale, with nearly 5,300 products (apartments, townhouses, and villas), the new supply of the housing market in Hanoi has grown strongly, with nearly 38,000 products for sale.
Regarding apartments, in 2024, the new supply for sale in Hanoi will triple compared to 2023, exceeding 30,900 units and being the highest annual new supply since 2020.
Meanwhile, the supply of newly launched apartments in Ho Chi Minh City was the lowest since 2013, with only 5,050 units. However, in the last quarter of the year alone, Ho Chi Minh City recorded a sharp increase in newly launched supply, 26 times higher than in the third quarter of 2024.
Notably, as of the fourth quarter of 2024, the selling price of apartments in Hanoi reached 72 million VND/m2 (excluding VAT and maintenance fees).
Primary selling prices increased sharply, up to 36% compared to the same period in 2023 and 12% compared to the third quarter of 2024. This is the highest increase in the past 8 years in the Hanoi market.
Most of the new supply is high-end projects with full legal documents, developed in urban areas in Nam Tu Liem and Gia Lam districts, which are already in operation with a certain number of residents.
In addition, the Hanoi market also recorded a new mid-range project in the suburban area (Thach That district) opening for sale, with a positive sales rate.
According to experts from CBRE Vietnam, in the secondary market, the selling price of apartments in Hanoi is gradually catching up with the price in Ho Chi Minh City, reaching an average of VND48 million and VND49 million/m2 respectively (excluding VAT and maintenance fees).
Compared to the same period in 2023, the secondary selling price of Hanoi apartments increased by more than 26%, the highest increase ever recorded.
In 2025, also according to CBRE Vietnam, the new supply of apartments in Hanoi is expected to continue to be abundant, estimated at more than 31,000 units, higher than in 2024.
Supply is mainly concentrated in the high-end and luxury segments. The project scope is expected to expand to the South (Hoang Mai district), East (Long Bien district) and West (Dan Phuong district). The abundance of new supply will contribute to maintaining the growth rate of primary apartment prices, expected at about 6-8%/year.
