The supply of houses and apartments in Hanoi has not met people's needs
Savills real estate experts said that the housing supply in Hanoi in the period of 2021-2025 has not met actual demand. With about 151,000 newly formed households, the city can only provide about 102,000 new apartments and low-rise housing, leading to a shortage of about 49,000 apartments.
According to data from Batdongsan.com.vn, Hanoi is the leading locality in real estate price growth in the period of 2021-2025, with an increase of up to 112%.
According to Savills Property Index (SPPI) report of Savills Vietnam, in Hanoi, the residential housing index in the period of 2020 - 2023 remains stable, increasing by an average of 2.4 points/quarter, reflecting a flat market with slight price fluctuations. Entering 2024, this index increased by an average of 14.9 points/quarter, showing a strong recovery in buyer sentiment, coinciding with the wave of opening for sale from investors.
As of the second quarter of 2025, the housing index increased by 5 points compared to the previous quarter, reaching 191.1. The average selling price was recorded at 63 million VND/m2 of the NSA, up 4% quarter-on-quarter.
Although the supply shortage has gradually cooled down, selling prices are still high, supported by sustainable demand, mainly from domestic buyers. Long-term factors such as active net migration and rapid urbanization continue to support this demand.
In the apartment market in Hanoi in Q2/2025, there will be 7,000 new apartments for sale and 5,200 transactions, an increase year-on-year. From the second half of 2025 to 2027, 58,100 apartments from 58 projects will be launched on the market.
The low-rise housing segment in Hanoi recorded significant growth thanks to the appearance of large projects.
In the second quarter of 2025, 267 apartments were opened for sale from six existing projects, with a total primary supply of 2,642 apartments, including 1,221 transactions, with a quarterly absorption rate of 46%. The future supply from 2025 to 2027 is expected to reach 6,443 units.
90% of apartments opened for sale in Hanoi in the first 6 months of the year have a primary price of about 82 million VND/m2
According to Savills' research, in the first half of 2025, Hanoi will have more than 14,000 newly opened apartments, of which over 90% are in the B-class segment, with an average primary price of about 82 million VND/m2.
On the contrary, class C apartments with a price of about 44 million VND/m2, account for a very small proportion. About a decade ago, class C dominated, but in recent years, new supply has been almost absent.
It is noteworthy that the absorption rate of the B-class segment is still high. Despite high prices, B-class apartments still have an absorption rate of up to 90% in the first 6 months of 2025. This shows that real housing demand and investment demand are still large, but the available supply in both the primary and secondary markets is limited.
Hanoi housing prices are increasing due to the gap between supply and demand, which is pushing up apartment prices.
In this context, the market is in a "preparation period", waiting for the legal policy to be amended and the infrastructure to be deployed synchronously to create space for new project development, especially in the non-central area - where land and transportation funds are still being expanded.
Forecast of Hanoi's housing supply in the period of 2026 - 2027
It is forecasted that in the last 6 months of 2025, about 11,500 apartments will be offered for sale in Hanoi, mainly concentrated in the A and B class segments.
However, product diversification is still limited. From 2026 onwards, when pilot projects complete legal procedures, new supply will increase sharply.
In the 2026 - 2027 period, the Hanoi market can welcome about 46,600 apartments from 43 projects, most of which are located outside the central area.
