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 112%, followed by Hai Phong with an increase of 71%. The representative of the Central region, Da Nang, also impressed with an increase of 53%, while Ho Chi Minh City - the economic locomotive of the South recorded an increase of 42% within 5 years.
According to data from the Vietnam Institute for Real Estate Market Research and Evaluation, in the period of 2014 - 2015, Hanoi apartment prices fluctuated around 18 - 25 million VND/m2. However, by the second quarter of this year, the average apartment price in Hanoi had reached 75.5 million VND/m2. Many high-end projects are even being offered for sale at 100 - 150 million VND/m2.
Talking to Lao Dong, Mr. Le Dinh Chung - Member of the VARS Market Research Working Group, General Director of SGO Homes - said that to look at the developments of the Hanoi apartment market at the end of 2025, it is necessary to look back at the market picture in 2024. During this period, apartments in Hanoi attracted great attention from investors, with prices continuously increasing. However, by the end of 2024, signs of a slight decrease had begun to appear.
Entering 2025, due to continued supply scarcity, primary prices are still climbing. New projects around Ring Road 2 and Ring Road 3 are recording prices of VND 120 - 200 million/m2, while products priced under VND 60 million/m2 are almost no longer on the market.
For the secondary market, after a period of stagnation at the end of 2024 and the first quarter of 2025, by the second and third quarters of 2025, prices began to increase slightly, especially in projects located near newly sold high-end products.
"Apartmental housing is still a product with great appeal because it meets real housing needs and is conveniently located in the urban center. However, it is forecasted that the price increase in the coming time will be slower, liquidity will remain at an average level, and there will be little room for a sudden increase as before" - Mr. Chung said.
Regarding the risks of investing in apartments, Mr. Chung commented that investors need to clearly define their goals. If you invest in expecting to increase capital prices, apartments will no longer be attractive, because there is not much room for price increases. On the contrary, if considering this a long-term asset that can be exploited for lease to create passive cash flow, it is still a suitable choice, especially for projects that have completed legal procedures and put into operation.
According to him, the primary market currently has very high prices, liquidity is only at an average level. Meanwhile, the secondary market is starting to recover, liquidity is more positive thanks to the advantage of the increase in primary prices. However, overall, there are not many opportunities for strong price increases in the short term, so investing in apartments to "surf" will have potential risks.
Mr. Chung also pointed out the new trend of investment capital flows. Since the end of 2024, many investors have shown signs of "pulling out" from the Hanoi market, looking for opportunities in other localities. By 2025, this shift will be even more evident when many provincial land markets, especially those with merged information or developed infrastructure, record good liquidity and strong price increases.
In addition, Mr. Chung predicted that the resort real estate segment will have signs of recovery, focusing on major markets such as Nha Trang and Phu Quoc. However, a clearer improvement in this segment may take place from 2026.
