The Hanoi apartment market continues to record new supply, but the product structure still strongly leans towards the high-end and luxury segments, while real housing demand is mainly concentrated in the affordable segment.
According to Avison Young Vietnam's Q2/2026 report, the Hanoi market has more than 4,000 new apartments for sale, raising the total primary supply being offered to nearly 10,000 units. Of which, more than 75% of new apartments belong to the high-end and luxury segments, while mid-range and affordable apartments are still scarce.
The research unit said that the fact that the supply is concentrated too much in the high-price segment in the context of increasingly cautious buyers is causing the absorption rate to show signs of slowing down.
However, primary apartment prices in Hanoi in the second quarter still increased by more than 2% compared to the previous quarter and showed no signs of cooling down. The main reason is that newly opened projects are all in the high-end and luxury segments.
According to Avison Young, in the large urban areas of the West and East of Hanoi, many high-end projects are offered for sale at around 87-117 million VND/m2. Meanwhile, luxury projects in the inner city area have prices ranging from 144-250 million VND/m2.
This unit believes that the continuous increase in primary housing prices far exceeding the affordability of most people has caused the overall market demand to decline significantly. In addition, high housing loan interest rates also make swing traders more cautious. The market is currently mainly a playground for customers with strong cash sources and real housing or long-term rental investment needs.
In contrast to the primary market, the secondary apartment market in Hanoi has begun to adjust after a period of hot increase.
According to Avison Young, many projects recorded local price reductions of 5-12%. However, this adjustment is still not attractive enough to create a breakthrough in liquidity.
The research unit believes that when selling prices increase faster than the rate of income improvement of people, absorption capacity will inevitably decrease. The absorption rate at many projects opened for sale in the first half of 2026 only reached about 35-50%, significantly lower than the level of over 80% of the bustling market period in 2025.
CBRE Vietnam also recorded the average selling price on the secondary market in the second quarter reaching about 60 million VND/m2, down 3% compared to the previous quarter. This is the first time that secondary apartment prices in Hanoi have recorded quarterly decreases since the end of 2022.
Although the transfer price tends to decrease, liquidity in the secondary apartment market has not yet improved.
Mr. Nguyen Thanh Tung, a real estate broker in Hanoi, said: "The prices of secondary apartments tend to decrease, some projects even decrease by 10-15%, but it is still very difficult to find buyers. Compared to last year, buyers are now much more cautious. They often look at many projects, compare prices, consider their financial capacity before deciding to spend money. Many people still have a mentality of waiting for prices to decrease further, so transactions are quite slow.
Assessing the current market developments, Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan. com. vn - said that real estate is still in the exploration phase due to many policies, especially related to planning, continuing to be completed, making investor sentiment defensive.
According to Mr. Quoc Anh, the market will only truly enter a consolidation phase when information about planning and infrastructure becomes more transparent and feasible. "The market will differentiate very clearly if viewed from the planning factor. The upcoming game of real estate will be a long-term game, no longer suitable for short-term speculation as before," he said.
