Recently, according to records from investment organizations, apartment selling prices on the secondary market have shifted from escalating to slightly increasing or leveling off.
In the urban area in Tay Mo, Nam Tu Liem, the transfer basket of a 55 m2 two-bedroom apartment costs about 2.9-3.2 billion VND in a subdivision that has been handed over for 2 years.
The difference depends on interior conditions. The unit price of 53-58 million per m2 in this subdivision has increased about 15% compared to the end of last year and has been from March until now.
Similarly, at the 36-storey apartment project on Chau Van Liem street, the selling price of some apartments in early 2023 is about 45-50 million VND per m2. By the first quarter of 2024, the base price has increased to about 60-65 million VND per m2 and has leveled off until now.
Ms. Nguyen Hoai An - Senior Director of CBRE Vietnam in Hanoi - assessed that the selling price of Hanoi apartments in the secondary market has increased rapidly in the past 6 months, up 22% over the same period in 2023. .
After a rapid increase in the first 3 months of the year, the increase has somewhat slowed down in the last 3 months. The more abundant primary supply also partly makes the secondary selling price level more stable.
According to OneHousing Center for Market Research and Customer Understanding, the supply of new apartment openings in Hanoi in the second quarter of 2024 reached nearly 8,300 units, an increase of 97% compared to the first quarter of 2024 and nearly equivalent to the apartment supply. New openings throughout Hanoi in 2023 (about 8,600 units).
Consumption in the second quarter of 2024 reached nearly 8,300 units, 4.5 times higher than the same period last year and up 43% compared to the second quarter of 2022.
The selling price of primary apartments in Hanoi in the second quarter of 2024 reached nearly 65 million/m2, up 25% compared to the first quarter of 2024 and up 30% over the same period in 2023, due to new supply being mainly high-end. and luxury.
Sharing with Lao Dong reporter, Mr. Tran Minh Tien - Director of OneHousing Center for Market Research and Customer Understanding - said that supply and consumption have both reached the highest level since 2021, which is a sign for the future. see that the Hanoi apartment market is recovering strongly.
In particular, some high-end - luxury projects with relatively high prices have also been sold out in a short time, showing very high market demand for the apartment segment .
According to Mr. Tien, there are 3 main reasons to explain this problem. First, affordable apartment types such as studios and 1-bedrooms have been popular with investors recently because they are easy to rent with monthly cash flow. At the same time, the potential for price increase is good, so it is always out of stock during the initial opening period.
Second, real estate loan interest rates in the second quarter are still maintained at a low level with loan packages ranging from 50 - 80% of the apartment value. Sales policies that extend the payment schedule from 2-5% of the apartment value per installment with a long interest rate support period are also applied by investors.
Finally, the Land Law, Housing Law, Real Estate Business Law (amended) and Credit Institutions Law were requested by the Prime Minister to speed up the progress of developing guidelines for implementing the law to keep up with the law. The effective date of August 1, 2024 has partly helped the market feel secure in trading in a stable and sustainable manner.
