According to data from PropertyGuru Vietnam, in Hanoi recently, there have been a number of newly launched projects with quite high prices. The average price ranges from 45 million VND/m2 to 90 million VND/m2. Of which, Nam Tu Liem district has accounted for 4 projects. Responding to this unit's survey, most brokers said that the absorption rate of newly launched projects ranges from average (30% - 60%) to very good (>80%).
For example, the Lumi Hanoi project (Nam Tu Liem) by the investor CapitalLand Nam Tu Liem with a scale of 3,950 apartments. The average price of apartments in this project is about 79 million VND/m2. At the Lumiere Evergreen project (Nam Tu Liem) with a scale of 2,294 apartments invested by Masterise Homes, apartments in this project are on sale with an average price of about 90 million VND/m2.
The Imperia Sola Park project (Nam Tu Liem) with a scale of 4,000 apartments invested by Vinhomes has an average selling price of about 65 million VND/m2. Or at the QMS Top Tower project (Nam Tu Liem) invested by QMS with a scale of 490 apartments is being opened for sale with an average price of about 80 million VND/m2.
Further, in Hoai Duc, The Wisteria project with a scale of 840 apartments invested by Vietracimex is being offered for sale at a price of 45 million VND/m2.
Or The Nelson Private Residence project (Ba Dinh) with a scale of 175 apartments, mainly with 2-3 bedrooms, area from 80-105m2. With starting price from 5,490 USD/m2 (about 135 million VND/m2), the project belongs to the luxury segment and the smallest apartments are priced from 10.8 billion VND.
According to a survey by the Institute of Construction Economics - Ministry of Construction and the Vietnam Real Estate Association, the average selling price of apartments in some projects in Hanoi currently ranges from 50-70 million VND/m2. Both the primary market (from investors) and the secondary market (buying and reselling) have recorded a continuous price increase trend.
According to One Housing’s forecast, in 2024, the Hanoi market is expected to have about 22,000 new apartments, higher than the 2020-2023 period but only 69% compared to 2019 – the time before the COVID-19 pandemic. In particular, the high-end segment (VND 50-80 million/m2) will continue to dominate, forecast to account for about 70% of the supply this year and 68% in 2025.
In particular, from 2025, many luxury apartment projects with prices ranging from VND80-230 million/m2 will appear in the western and northern areas of Hanoi. Meanwhile, the mid-range segment (VND30-50 million/m2) only accounts for about 5% of the total market supply, while affordable housing is still very scarce.
Ms. Ho Thi Thu Mai - Director of Housing Now Vietnam, not only new apartment projects opened for sale but also the price of transferred apartments has increased sharply in recent months. Some apartments increased from 3 billion VND to 5.5 billion VND within just one year. This reflects the scarcity of supply and the increasing demand of the market.
