The apartment market is witnessing an unprecedented price fever, not only in new projects but also in apartments that have been used for many years. From commercial housing to social housing, prices have skyrocketed, even 2-3 times higher than a few years ago.
Mr. Vo Huynh Tuan Kiet - Director of CBRE Vietnam's housing marketing department - said that as of the fourth quarter of 2024, the price of primary apartments in Hanoi reached 72 million VND/m2 (excluding VAT). In 2024, the price of primary apartments increased by 36% compared to the same period last year and increased by 12% compared to the previous quarter, a record increase in the Hanoi apartment market.
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 VND 48 million and VND 49 million/m2, respectively. Compared to the same period in 2023, the price of secondary apartments in Hanoi in 2024 increased by more than 26%. This is the highest annual increase ever recorded.
According to a survey by Lao Dong Newspaper reporters, the common selling price of secondary apartments at the Goldmark City project (Bac Tu Liem district, Hanoi) in early 2025 was around 65-75 million VND/m2, an increase of 52.4% over the same period in 2024. Apartments at The Legacy project (Thanh Xuan district) recorded an average price of 72.8 million VND/m2, an increase of 49.7%.
The Imperial Plaza project (Thanh Xuan district) has a selling price ranging from 54.3 million VND/m2 to 63.1 million VND/m2. The common price is about 58.9 million VND/m2, an increase of 33.8% compared to the beginning of last year.
In the suburban area, secondary apartments at Vinhomes Grand Park (Long Bien district) recorded an average price of VND51.3 million/m2, an increase of 45.2%. Meanwhile, apartments at An Binh City project (Bac Tu Liem district) have common prices ranging from VND67.8 million/m2 to VND82.1 million/m2, significantly higher than in early 2024.
Notably, some social housing projects that are eligible for transfer are also being offered for sale at prices as high as commercial housing. Typically, the Dong Mo Dai Kim social housing project in Hoang Mai district currently has an advertised price ranging from 50-55 million VND/m2, a sharp increase compared to the original price of about 15 million VND/m2 when it was launched in 2017.
Similarly, social housing apartments at the Rice City Linh Dam project (Hoang Mai, Hanoi) have been in use for more than 7 years, and the current resale price ranges from 45-55 million VND/m2, more than 3 times higher than the purchase price at the time of handover in 2016. When the apartments were opened for sale, the price was only 15 million VND/m2.
Or at the Ecohome 3 Co Nhue social housing project (Bac Tu Liem), the average selling price is currently 50-55 million VND/m2. Compared to the starting price of 16.5 million VND (2019), the price has increased by about 30-35 million VND/m2.
Social housing projects were once considered a “lifesaver” for people with average incomes and limited finances. However, many projects that have been open for sale for over 5 years have seen prices increase sharply, up to 2-3 times higher than the starting price.
This creates a contrasting picture in the market, while investors benefit greatly, real buyers are increasingly having difficulty finding a place to live. Record price increases are making the Hanoi apartment market vibrant but also full of concerns. People with average incomes are almost pushed out of the "race", while speculators continue to benefit from sky-high price differences.
