Avison Young Vietnam's real estate market report for the second quarter of 2024 shows that recently, the demand for townhouses (villas, townhouses) in Hanoi is increasing. Meanwhile, supply in Hanoi is quite scarce, mainly concentrated in the Western and Eastern regions.
A representative of Avison Young Vietnam said that, in terms of price, the primary market of villas and townhouses has not recorded many changes in price and absorption rate for low-rise products in Hanoi, on average. still at 4,500 - 6,000 USD/m².
However, on the secondary market, in some areas such as the West of West Lake, it is becoming a hot spot in the Hanoi real estate market when recording villa prices increasing significantly.
For example, in Starlake urban area (Tay Ho district), villa prices recorded the selling price at 17,000 - 22,400 USD/m², area from 132 - 300 m². Right next to this project, villas and commercial townhouses in the Diplomatic Corps and subdivisions also recorded high prices, ranging from 10,200 - 14,700 USD/m² depending on location.
In Ciputra Urban Area (Tay Ho district), villas and townhouses are being sold at prices from 11,000 - 15,900 USD/m². Villas and townhouses of projects along Ring Road 3 are currently among the most expensive real estate in Hanoi, especially lakefront villas of the Starlake Project in Tay Ho Tay.
The market report for the second quarter of 2024 published by CBRE Vietnam shows that the market for low-rise houses and adjacent villas in Ho Chi Minh City and Hanoi only recorded new supply of 47 and 270 units, respectively.
Data from Savills Vietnam predicts that by the end of 2024, the supply of villas and townhouses will reach nearly 3,000 units from 13 projects expected to enter the market.
This large amount of supply is mainly in large-scale urban areas. Large projects about to enter the market will contribute to making the real estate market more vibrant and selling prices are forecast to continue to increase.
Savills Vietnam points out that Dong Anh district accounts for the largest proportion of the supply of adjacent villas with 34% of future supply with a large project, followed by Ha Dong district with 19% and Hoai Duc district with 16%. %.
In addition, according to Savills Vietnam, the passing of laws related to the real estate market, the continued improvement of transportation infrastructure projects, and the gradual return of buyer confidence will brings optimistic signals to the Hanoi real estate market in 2024.
