In the past 2 years, apartment prices in Hanoi have increased rapidly. A survey conducted by Lao Dong reporters shows that many projects in districts in the area have increased in price, regardless of central or suburban locations.
A typical example is The Pride project (Ha Dong district), a year ago the selling price of apartments was around 28-32 million VND/m2, now it has increased to 50-54 million VND/m2. If an apartment has an area of 100 m2, the price will be around 5.5 billion VND.
Or apartments in the D'Capitale project (Cau Giay district) were previously priced from 54-65 million VND/m2, but now increased to 87-90 million VND/m2. If a house with an area of about 65 m2 is worth about 6 billion VND.
Similarly, some projects in suburban areas such as Vinhomes Ocean Park (Gia Lam district) have increased their selling price by up to 50% over the same period, ranging from 48.6 million VND/m2.
While the secondary selling price of apartments in Vinhomes Smart City (Nam Tu Liem District) is commonly at 64.8 million VND/m2, an increase of 38.8% over a year ago.
Ms. Do Thu Hang - Senior Director of Savills Hanoi Consulting and Research Department - said that in 2024, the supply of apartments in Hanoi will reach nearly 25,000 units. In the fourth quarter of 2024 alone, the supply reached nearly 13,000 units, an increase of 351% year-on-year.
Regarding selling prices, according to a survey by Savills Vietnam in Hanoi, apartments with a selling price of over VND4 billion account for 59% of the total successful transaction volume, a sharp increase compared to 2% in 2020.
Apartments with a selling price of 2-4 billion VND account for 40% of the total successful transactions and apartments with a selling price of less than 2 billion VND account for only 1% of the total number of apartments sold in the whole year in the whole market.
Notably, in the secondary market, apartment prices also recorded an upward trend, especially apartment projects located near the Cat Linh - Ha Dong urban railway and the Nhon - Hanoi Railway Station urban railway.
At many projects along these two urban railway lines, apartment prices in the fourth quarter of 2024 increased by 24% compared to the previous quarter.
Commenting on the trend of the Hanoi apartment market in 2025, Ms. Hang shared that the new supply in the whole market is expected to reach 25,200 apartments, of which Class B apartments (middle-end apartments) continue to lead, accounting for 88% of the market supply. This supply is mainly still concentrated in the capital's large urban areas.
According to Ms. Hang, the imbalance between supply and demand, most of the supply is concentrated in the segment of B-class apartments, A-class apartments (high-end, luxury) leading to apartment prices unlikely to decrease in 2025 and tending to remain stable or increase.
It is forecasted that the supply of apartments in Hanoi will improve sharply in 2026, the supply of new apartments is expected to reach about 70,000 apartments, from 91 projects opened for sale. The Dong Anh, Hoai Duc, Hoang Mai regions will contribute about 52% of the supply.
Many experts also believe that the strong increase in supply in 2026, with a more diverse apartment structure, will help the apartment market cool down, and selling prices will be adjusted in a more suitable direction.
