According to CBRE's Q2/2026 real estate market report, the Hanoi apartment market continued to record new supply at a record high in the first half of the year. However, liquidity showed signs of slowing down, while selling prices on the secondary market decreased for the first time since the end of 2022.
CBRE said that in the first 6 months of 2026, the total supply of apartments for sale in Hanoi reached 16,600 units, the highest in the first 6 months of the year since 2020.
Notably, this is the second consecutive quarter that the market has not recorded new projects for sale priced below 60 million VND/m2 (excluding VAT, maintenance fees and before discount).
The two segments accounting for the largest proportion in the new supply are the apartment group priced from 80-110 million VND/m2 and the group over 120 million VND/m2, accounting for about 30% and 35% of the total new supply respectively.
The apartment segment over 120 million VND/m2 alone recorded more than 3,000 units for sale from four projects in inner and near-inner urban areas such as Thanh Xuan, Tay Ho and Dong Anh.
Although supply increased sharply, market absorption showed signs of slowing down. In Q2/2026, the total number of apartments sold reached more than 5,800 units, equivalent to 68% of newly opened sales.
This is the equivalent level of the first quarter of 2026 but significantly lower than the period 2024-2025, when the absorption rate regularly exceeds 90%, even higher than the number of new units opened for sale in the same period.
Ms. Nguyen Hoai An - Senior Director of CBRE Hanoi - said that high lending interest rate pressure continues to be a factor dominating buyer behavior. Instead of making quick decisions as in the low interest rate period before, buyers are now more carefully considering cash flow and the time to deposit money, especially for products that need to use large financial leverage.
According to CBRE, the development of apartment selling prices in Hanoi in the second quarter of 2026 has differentiation between the primary and secondary markets.
In the primary market, the average selling price reached approximately 95 million VND/m2 (excluding VAT, maintenance fees and before discount), an increase of 12% compared to the previous quarter and an increase of 21% compared to the same period last year. CBRE said that the proportion of supply in the inner city area increased significantly in the second quarter, which is the reason pulling the primary price level to a higher level.
Meanwhile, the average selling price on the secondary market reached about 60 million VND/m2 at the end of Q2/2026, down nearly 3% compared to the previous quarter. This is the first time the secondary apartment market has recorded a downward adjustment since the end of 2022.
The annual price increase rate has also narrowed significantly, to about 13%, nearly half of the peak of 24-26% in the 2024-2025 period.
Looking towards the second half of the year, CBRE forecasts that new supply will continue to be maintained at a high level. Total sales in the whole year of 2026 may reach nearly 39,000 units, exceeding the peak of more than 37,000 units recorded in 2019.
According to Ms. Nguyen Hoai An, the large supply scale will set higher requirements for investors in valuation strategies, segment selection and building appropriate financial support policies, in the context of increasing competition and more cautious buyers. The diễn biến of selling prices and liquidity in the coming quarters will depend heavily on interest rate trends as well as the level of confidence recovery of homebuyers.
From another perspective, Ms. Nguyen Ly Ly - Market Research Manager of Cushman & Wakefield Vietnam - said that many secondary investors are under great pressure from capital costs while having to compete with new projects with attractive sales policies and incentives from investors.
The selling pressure of this group of investors is increasing as new supply and the number of apartments preparing to be handed over are increasingly abundant. Cushman & Wakefield forecasts that from now to 2028, Hanoi will have more than 28,000 products from about 80 projects and subdivisions handed over.
