The apartment market in the two major cities continued to record a sharp increase in new supply in Q2/2026. However, contrary to the bustling period of previous years, the consumption rate has slowed down as the price level is anchored at a high level and purchasing demand is weakening. Notably, in Hanoi, primary apartment prices continued to increase while the secondary market began to adjust downwards.
According to the One Mount Group Market Research & Customer Understanding Center, in Q2/2026, the primary apartment market in Hanoi and Ho Chi Minh City both clearly improved in supply compared to the first quarter of the year.
In Hanoi, the total new supply reached about 9,300 units, an increase of 6% compared to the previous quarter and 23% compared to the same period last year. Notably, the central area recorded the return of the Hanoi Seasons Garden project after many years of absence, accounting for 92% of the new supply in this area.
Meanwhile, Ho Chi Minh City recorded about 11,000 new apartments for sale, an increase of 51% compared to the same period last year. Most of the supply is concentrated in the Binh Duong (old) area with more than 7,000 units, equivalent to 66% of the total market opening volume.
Although supply increased, liquidity no longer maintained the same speed as before. In Hanoi, the consumption market was about 7,100 apartments in the second quarter, down 3% compared to the previous quarter and down 8% compared to the same period last year. The absorption rate reached 50%, down 18 percentage points compared to the same period in 2025.
In Ho Chi Minh City, the market recorded about 9,500 apartments traded, an increase of 16% compared to the same period last year. However, the absorption rate only reached about 50%, down 2 percentage points compared to Q1/2026. In terms of price level, One Mount Group said that in the central area of Hanoi, the average primary selling price in Q2/2026 reached about 121 million VND/m2, unchanged compared to the previous quarter but increased by 46% compared to the same period last year.
Meanwhile, the Van Giang area (Hung Yen) recorded an average selling price of about 67 million VND/m2, a slight increase of 3% quarter-on-quarter. This price level continues to help the area maintain a competitive advantage in terms of accessibility, especially for the group of customers buying for living who tend to move out of the central area to find products that are more suitable for the budget.
In Ho Chi Minh City, the primary price level continues to differentiate by region. The selling price in the central area reached about 103 million VND/m2, almost stable compared to the previous quarter. Meanwhile, the Binh Duong area (old) reached about 60 million VND/m2, an increase of 5% quarter-on-quarter and 33% compared to the same period last year.
CBRE's Q2/2026 real estate market report also shows a similar trend in Hanoi.
In the first 6 months of the year, Hanoi had 16,600 new apartments for sale, the highest level in the first 6 months of the year since 2020. The two main segments are apartments priced at 80-110 million VND/m2 and over 120 million VND/m2, accounting for about 30% and 35% of the new supply.
Although supply increased sharply, absorption showed signs of slowing down. In the second quarter of 2026, the market sold more than 5,800 units, equivalent to 68% of new sales, significantly lower than the period 2024-2025 when the absorption rate regularly exceeded 90%.
CBRE said that the average primary selling price in Hanoi reached about 95 million VND/m2, an increase of 12% compared to the previous quarter and 21% compared to the same period last year due to the increase in the proportion of inner-city supply. Meanwhile, the price of secondary apartments decreased by nearly 3% quarter-on-quarter to about 60 million VND/m2, marking the first adjustment since the end of 2022.
Ms. Nguyen Hoai An, Senior Director of CBRE Hanoi, said that primary apartment prices continue to increase due to a series of input costs such as rent and land use fees, site clearance compensation, financial costs and construction material prices all increasing significantly. According to her, these costs are directly reflected in the investor's opening price.
Meanwhile, the demand for buying for living and investment is weakening as home loan interest rates tend to increase, while apartment prices remain high. Ms. Nguyen Hoai An said that after a period of hot growth, the Hanoi apartment market is entering a phase of adjustment under the impact of high interest rates and abundant primary supply.
