The real estate market is recording many positive changes with increasingly clear signs of recovery. Apartments are still hot, while many segments are gradually attracting attention again such as villas, traditional townhouses, houses in alleys...
Especially in Hanoi, Hanoi real estate is the focus of the whole country, not only for products serving real housing needs, but also for investment. Investment demand is gradually returning to this market.
Mr. Ha Nghiem - Business Director of PropertyGuru Vietnam commented: "The real estate market has passed the long period of sinking and there are many signs of recovery. Currently, some areas have shown clear signs of growth. Hanoi is experiencing a fever, not only for products serving real housing needs but also for investment."
According to the expert, Hanoi real estate has recorded strong growth over the past year. Segments such as apartments, land, private houses, etc. have all increased by an average of about 40%. This is considered a "record" increase in history. However, this year, the real estate market is still in a state of cautious exploration.
By early 2025, the market will move into a consolidation state and begin to improve. At this stage, cash flow will be more open, legal issues will be resolved, and credit capital into the market will also improve. By 2026, the market will stabilize. Segments such as private houses, townhouses, land plots, and project villas will also develop more positively.
Regarding the apartment segment, Senior Director of CBRE Hanoi Branch Nguyen Hoai An said: “Hanoi apartment prices have recorded very strong growth and have increased continuously since the fourth quarter of 2023, including both primary and secondary markets. This is almost the first time that Hanoi apartments have increased in price so rapidly in such a short period of time. Over the past 10 years, Hanoi apartment prices have increased by an average of 5% per year. Even in the period 2009 - 2019, apartment prices fluctuated little, there were periods of price reduction and an average increase of only 2% per year. From 2022 to now, apartment prices in this city have just begun to increase rapidly."
Regarding the increase in apartment prices in recent years, Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam said that the average selling price of apartments in 2021 fluctuated from 34-37 million VND/m2; in 2022, from 38-40 million VND/m2; in 2023, from 39-42 million VND/m2; in 2024, it reached 45-51 million VND/m2.
Regarding the change in the average increase in apartment prices, according to Mr. Nguyen Quoc Anh, before 2020, the general mentality of people in the North still considered apartments as a negative asset.
Until 2022, despite the difficult market, the interest in apartments has not decreased much, even continuing to maintain a high level nationwide. This reflects that this is a type of property with cash flow, meeting real housing needs, a need that is always present in the market.
