According to data from JLL Vietnam, in the first quarter of 2026, the Hanoi market recorded about 5,300 apartments and 164 new landed houses from more than 30 projects, mainly concentrated in areas adjacent to and outside Ring Road 3 - where infrastructure is being heavily invested.
Notably, new supply still leans towards the high-end and mid-to-high-end segments, while mid-range and affordable products continue to be scarce. This makes the market lack suitable choices for real-world buyers, especially first-time buyers.
Primary selling prices are therefore maintained at a high level. The average apartment price reached about 94.4 million VND/m2, an increase of 25.3% compared to the same period last year. Meanwhile, the average price of landed houses was 254.4 million VND/m2, down 9.1% year-on-year.
On the secondary market, selling prices in general continue to increase steadily, with liquidity concentrated in completed projects with favorable locations or located in new urban areas in the West and East of Hanoi.
Total transaction volume in the quarter reached about 5,186 apartments and 261 landed houses. Although slightly decreased compared to the peak period in 2025, liquidity is still assessed as maintaining stability, partly thanks to transactions from the previous sales opening period recorded in this quarter.
According to JLL's assessment, real estate purchase lending interest rates at many commercial banks have increased to a common level of 9–11%/year in the first 6–12 months. Along with that, the cost of construction materials such as steel, cement, and bricks increased by about 5.7%, also creating additional pressure on project development costs. Many investors are forced to adjust selling prices or delay the implementation of low-margin projects.
Mr. Le Huy, a real estate broker in Hanoi, said that the main reason why apartment prices are constantly increasing is that the supply suitable for actual housing needs is still prolonged shortage, while input costs and cost of capital are both increasing.
The current apartment price level is pushed up because project development costs were already high in the previous period, so it is very difficult to have room to decrease. Even for projects with complete legal status and good progress, prices still tend to increase slightly," Mr. Huy said.
Mr. Huy also said: "Real buyers still account for a large proportion, especially in projects with reasonable prices. When the supply of this segment is not large, prices are very difficult to decrease, even in the context of rising interest rates.
According to the assessment of Ms. Do Thu Hang - Senior Director, Research and Consulting Department of Savills Hanoi - market momentum is gradually improving, but supply is still mainly concentrated in the mid-range segment. Infrastructure expansion is expected to create conditions to develop more public housing products at more reasonable prices in the near future.
In 2026, the Hanoi market is expected to welcome about 18,454 new apartments, most of which are still in the high-end and mid-range segments. Neighboring areas such as Hung Yen and Bac Ninh are expected to play an increasingly important role in solving housing needs, thanks to the advantages of land funds and connecting infrastructure.
In contrast to apartments, data from Batdongsan. com. vn shows that some other segments are showing signs of adjustment. In Hanoi, the asking price of land plots in Q1/2026 decreased by about 4% compared to the end of 2025. Meanwhile, in Ho Chi Minh City, the price of private houses decreased by about 2%.
This development shows that speculative cash flow is tending to gradually withdraw from highly speculative segments, in the context of increased capital costs and liquidity no longer as active as before.
