The apartment segment in Hanoi has always maintained its heat in recent times when selling prices have continuously reached new peaks in both the primary and secondary markets.
In the primary market, the supply of new apartments is mostly high-end, luxury projects, lacking affordable housing products (mid-range, low-end), so the average price of primary products in Hanoi is quite high, around 60 - 120 million VND/m2.
According to a survey by Lao Dong Newspaper reporters, some projects in suburban districts of Hanoi exceed 100 million VND/m2, many projects approach 100 million VND/m2. Typically, Masteri Grand Avenue (Masteri Co Loa, Dong Anh district) has an average price of up to 90 - 120 million VND/m2 - the highest price in suburban districts of Hanoi to date, even higher than many luxury apartment projects in the inner city of Hanoi.
MIK Group is also introducing Imperia Co Loa apartment (Dong Anh) to the market with prices ranging from 90 - 110 million VND/m2. In other areas such as Ha Dong, Gia Lam, some projects have selling prices approaching 100 million VND/m2 such as QMS Top Tower at the intersection of To Huu and Vu Trong Khanh, which is the border between Nam Tu Liem and Ha Dong districts, with an average selling price of 70 - 85 million VND/m2 for normal apartments; 95 - 98 million VND/m2 for corner apartments in beautiful locations.
Similarly, the villa segment also established a new price level with selling prices reaching billions of VND/m2, the highest level on the market ever.
At Vinhomes Green Bay Me Tri Urban Area (Nam Tu Liem, Hanoi), some villas are priced up to 1 billion - 1.4 billion VND/m2. According to research, when the villas and townhouses were launched on the market, the primary price of the low-rise subdivision in this project was around 150 - 250 million VND/m2 depending on the location.
Currently, after more than 5 years of handover, secondary transactions at the project are still taking place with strong price increases. The common price of villas in this project is at 500 - 700 million VND/m2. Villas in prime locations cost up to billions of VND/m2.
The trend of increasing villa prices does not only occur locally in one project, many other villa, townhouse, and townhouse projects also have high selling prices, up to 750 - 850 million VND/m2 such as Starlake Urban Area (Tay Ho, Hanoi). Some villa and low-rise projects such as Diplomatic Urban Area in Xuan Dinh (Bac Tu Liem District, Hanoi), or Him Lam Van Phuc Urban Area in Ha Dong District, many villas are also sold at prices of 400 - 500 million VND/m2.
Forecasting the trend of apartment prices in the coming time, Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam commented that the price level of apartments in the coming time is very difficult to decrease. However, the expert predicted that apartment prices next year will remain stable, not as hot as the current period. Because housing prices have increased too much in the past time.
Regarding the villa segment, Mr. Nguyen Van Dinh - Vice President of the Vietnam Real Estate Association predicted that villas and townhouses will continue to increase in price in the coming time when supply continues to be scarce. However, prices will increase slowly and sustainably, there will not be price waves like in the recent past.
