According to data from Batdongsan.com.vn, in Hanoi, in contrast to the sideways trend of the Hanoi apartment market in general, apartment prices in 4 central districts such as Hoan Kiem, Ba Dinh, Dong Da, Hai Ba Trung are continuing to increase.
In Ba Dinh district, the selling price of 1-bedroom apartments at Vinhomes Metropolis project (Lieu Giai) before Tet ranged from 8.5 - 9 billion VND/unit, but up to now, many homeowners are offering 8.8 - 9.3 billion VND/unit. The average selling price increased by 300 million VND/unit. The increase of 300 - 500 million VND/unit was also recorded for the 2-bedroom and 3-bedroom apartments.
Before the Lunar New Year, many 2-bedroom apartments were offered for 13-15 billion VND/unit, but the current price is 13.5 - 15.5 billion VND/unit. The price of 3-bedroom apartments also increased from 19.5 - 23.5 billion VND to 20 - 24 billion VND/apartment.
In the same time period, at the Lancaster project (Nui Truc, Ba Dinh), 1-bedroom apartments also increased from 4.5 - 5 billion VND/unit to 5 - 5.5 billion VND/unit. Apartments with an area of over 100m2 also increased from an average price of 15 - 16 billion VND/apartment to 15.5 - 16.5 billion VND/apartment.
Similarly, at the Diamond Park Plaza project (Lang Ha, Dong Da), apartment prices also recorded an upward trend. Accordingly, the selling price of 1-bedroom apartments in this project has increased from 7.3 - 8 billion VND/unit to 7.8 - 8.5 billion VND/unit. The price of 2-bedroom apartments also increased from 11.5 - 13 billion VND/apartment to 12 - 13.5 billion VND/apartment. The average increase of 3 - 5% was also recorded in the 3-bedroom apartment type of this project.
In Dong Da district, Ha Thanh Plaza project, compared to before Tet, the selling price of 2-bedroom apartments with an area of about 70m2 also increased from 5.5 - 5.6 billion VND/apartment to 5.7 - 5.9 billion VND/apartment. The 3-bedroom apartment line also increased by an average of about 500 million VND/apartment with the common selling price of about 9 billion VND/apartment at the present time. Similar increases were also recorded at the hateco Laroma project (Lang Thuong), M5 Nguyen Chi Thanh apartment building...
Mr. Nguyen Van Dinh - Chairman of Vietnam Real Estate Brokerage Association - said that, compared to the beginning of 2019, the average selling price of apartments in 4 central districts of Hanoi has doubled, exceeding about 30% compared to the average increase in the whole city. In particular, Hai Ba Trung and Dong Da are the two areas recognizing the strongest price growth in the past 5 years.
According to Mr. Dinh, the price increase trend in the core area is likely to continue due to high demand, stemming from the process of urbanization and strong economic development.
According to Mr. Tran Minh Tien - Director of One Mount Group Market Research and Customer Insight Center, the developments of the secondary apartment market show a clear trend, cash flow is being strongly regulated from the lack of liquidity of land plots for transferred apartment products. Stability, rental exploitation capacity, quality of life and legal available continue to be factors that help the secondary apartment market maintain its appeal.
