At many apartment projects in Hanoi, transfer pricing is recording a downward adjustment trend after a long period of maintaining the upward momentum. Depending on the project and apartment area, the current decrease ranges from about 200-500 million VND/unit compared to the peak price or early 2026.
At CT12A Nam Trung Yen (Yen Hoa ward), 2-bedroom apartments that were once traded for about 6.1 billion VND/unit are now reduced to about 5.9 billion VND/unit, equivalent to a decrease of about 200 million VND/unit. 3-bedroom apartments also decreased from about 11 billion VND to about 10.5 billion VND/unit, equivalent to a decrease of about 500 million VND/unit.
Meanwhile, Florence apartment building on Tran Huu Duc street currently has a popular price of about 99.2 million VND/m2, down about 2.8% compared to March 2026. Some 100m2 apartments have decreased by about 290 million VND/unit.
In the western Hanoi area, Masteri West Heights recorded a common price of about 103.2 million VND/m2, down about 3.3% compared to March 2026. Some apartments with areas of 70-80m2, the reduction ranges from about 245-280 million VND/unit.
The Vesta Ha Dong currently has an average price of about 65.2 million VND/m2, down about 4.1% compared to the end of 2025. Apartments with an area of 70m2 decreased by nearly 200 million VND compared to the previous period.
Xuan Mai Complex on To Huu street recorded a stronger decrease when the popular price is still about 65.9 million VND/m2, about 8.1% lower than the peak in January 2026. Converted according to the current price level, the corresponding decrease is about 5.8 million VND/m2. For apartments with an area of 70-80m2, the value has decreased by about 400-460 million VND/unit compared to the peak price time.
At Mipec Rubik 360 on Xuan Thuy street, the popular price is currently about 127.6 million VND/m2, down about 2.1% compared to the peak in February 2026. Apartments with an area of about 80m2, down about 220 million VND/unit.
Imperia Smart City currently has a popular price of about 90.9 million VND/m2, down about 5.5% compared to the peak at the beginning of this year. Some apartments with an area of 70-80m2 have decreased by about 370-420 million VND/unit.
Some other projects such as The Sapphire - Vinhomes Smart City, Eco Green City, Mandarin Garden 2 or The Zen Residence - Gamuda Gardens also recorded a slight adjustment trend compared to the previous peak price period, with a common decrease of several hundred million VND per unit depending on area and location.
However, although the price has decreased by hundreds of millions of VND per unit, liquidity in the secondary market is still quite quiet. Mr. Tran Van Tuan - an apartment broker in Hanoi - said that many homeowners have lowered prices by 300-500 million VND to find customers, but transactions are still slow. "Buyers are currently very cautious. Many customers believe that apartment prices have increased too high in the past few years, so they continue to wait longer instead of spending money immediately," Mr. Tuan said.
Commenting on the current trend of apartment prices, Mr. Nguyen Chi Thanh - General Director of Ho Tay International Building Company - said that with the price level having increased for a long time, plus capital cost pressure, it is inevitable that the market will have adjustment phases. According to Mr. Thanh, at the current interest rate level, many investors are no longer able to hold assets for a long time to wait for prices to increase as before, forcing them to consider reducing prices to recover cash flow.
Meanwhile, Ms. Nguyen Ly Ly - Market Research Manager at Cushman & Wakefield - said that apartment market liquidity is showing signs of decline in the context of new supply and a sharp increase in the number of products to be delivered.
According to Ms. Ly, in the period 2026-2028, Hanoi is expected to have more than 28,000 apartments handed over to homebuyers. Large supply appearing in the context of slower purchasing power will create significant pressure on the group of investors using financial leverage.
This group is bearing high capital costs to maintain assets, while directly competing with primary goods launched by investors with many attractive preferential policies and financial support," Ms. Ly assessed.
Experts from Cushman & Wakefield added that in the next two years, Hanoi may welcome more than 68,000 new apartments, mainly concentrated in suburban central areas. Abundant supply will create price adjustment pressure for speculative products or those heavily dependent on expectations of price increases thanks to infrastructure.
The cautious psychology of buyers may continue in the coming time as interest rates are still a factor to monitor, while many people expect the market to experience deeper price adjustments," Ms. Ly said.
