Learning from PV Lao Dong on August 23, the apartment segment in Hanoi has continuously increased in recent times. For example, a 3-bedroom apartment on Nguyen Trai Street (Thanh Xuan District, Hanoi) with an area of 100 square meters was listed for sale at the beginning of 2024 for 5.8 billion VND but has now increased to 6.3 billion VND. billion VND/unit.
Or a 2-bedroom apartment in Cau Giay district, area of 88m2, in early 2024 had a selling price of 4.8 billion VND but has now increased to 5.2 billion VND/unit.
3-bedroom apartments at the Sudico My Dinh project (Hanoi) are also increasing from 4.4-4.6 billion VND/unit to 4.6-4.8 billion VND/unit compared to the beginning of 2024. .
Market data from specialized site Batdongsan.com.vn shows that in July 2024, the entire Hanoi real estate market had impressive growth. Notably, the apartment segment continues to be the leading segment in the market.
Commenting on apartment price developments, Ms. Nguyen Thi Hong Van - Deputy Director, Savills Hanoi Valuation and Financial Consulting Department, informed that 98% of apartment supply is coming from current projects. , there are almost no new projects.
In the short term, housing prices, especially apartment prices, will continue to increase due to limited new supply on the market. In the second quarter of 2024, the Hanoi real estate market welcomed about 2,700 new apartments, down 34% quarter-on-quarter and 25% year-on-year.
Notably, Ms. Nguyen Hoai An - Director of CBRE Hanoi Research and Consulting Department forecasts that apartment prices in Hanoi will continue to go up, it will not be until 2026 that the increase in apartment prices in Hanoi can be achieved. stable.
Mr. Tran Quang Trung - Director of OneHousing Business Development analyzed that the reason leading to the continuous increase in apartment prices in Hanoi in recent times is due to scarce supply, while the demand for buying houses and investment of people are increasing day by day.
According to Mr. Trung, in the past year, many investors in big cities like Hanoi and Ho Chi Minh City have mainly chosen segments that meet real needs, including apartment types.
"The apartment market is expected to receive many positive signals when the new Laws take effect from August 1, 2024. However, in the short term, the shortage of apartment supply has not yet improved.
Notably, Hanoi's urbanization rate is about 51%, meaning that each year Hanoi needs about 70,000 apartments to solve the housing problem for workers. But the supply entering the market is currently too modest compared to the demand, causing apartment prices in Hanoi to increase even higher" - Mr. Trung mentioned.
