According to Savills Vietnam's Real Estate Market Overview Report for the second quarter of 2025, the average primary price of apartments in Hanoi is 91 million VND/m2, up 16% quarter-on-quarter and 40% year-on-year.
In particular, the West Lake area has emerged as a new focus of the Hanoi real estate market, with the average primary apartment price reaching 185 million VND/m2 in the first quarter of 2025.
A survey in Hong Ha ward shows that the Noble Crystal Tay Ho WorldHotels Residence project is being offered for sale at prices ranging from 160 - 300 million VND/m2. Of which, a 4-bedroom Duplex Sky Villa apartment, 287m2 wide, is being offered for sale at a price of 76 - 85 billion VND/apartment, equivalent to the highest price of 296 million VND/m2. Another apartment with an area of 284m2, also costs up to 260 million VND/m2, or about 74 billion VND/apartment.
Also in Hong Ha ward, Heritage West Lake project, a 3-bedroom apartment with an area of 145m2 is being offered for sale at a price of more than 217 million VND/m2, equivalent to 31.5 billion VND/unit. Another 182m2 apartment with 4 bedrooms costs 202 million VND/m2, or about 36.8 billion VND.
Meanwhile, at the Sun Grand City project, a 150m2 apartment is being offered for sale at a price of more than 176 million VND/m2, equivalent to 26.5 billion VND/apartment.
Assessing the attraction of this area, Ms. Hoang Nguyet Minh - Senior Director, Commercial Leasing Department of Savills Hanoi - said that West Lake is becoming an attractive destination thanks to its many strategic advantages such as synchronous transport infrastructure, international community, systematic planning and suitable land funds to develop high-end commercial complexes.
Mr. Tran Quang Trung - Business Development Director of OneHousing - commented that the new land price list will increase the input cost of enterprises, causing real estate product prices to increase as well. According to the new land price framework announced by the Hanoi People's Committee at the end of 2024, the West Lake area recorded the highest increase, up to 113 million VND/m2.
Mr. Trung added that investment costs such as site clearance fees, land use fees, infrastructure/construction fees, which have skyrocketed due to shortage of materials, make it difficult for apartment prices to decrease.
Ms. Pham Thi Mien - Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation (VARS IRE) - said that in the second quarter of 2025, many new projects, despite listing high prices, still recorded positive consumption levels, thanks to the real housing needs of customers with strong financial potential, including both Vietnamese and foreigners. In addition, the trend of real estate investment is also increasing as many customers take advantage of preferential cash flow, expecting the value of assets to continue to increase in the coming time.
According to VARS experts, real estate prices will continue to increase in the short term because investors' profit expectations are still high. A large part of investors are still living well and are not under pressure from financial leverage. Therefore, they have no reason to adjust selling prices.
