The real estate market is recording adjustments in both the apartment and land plot segments. While buyers are increasingly cautious, the supply of apartments continues to focus on the high-priced segment, while many land plot areas that once increased sharply are witnessing prices falling deeply compared to the peak.
According to Avison Young Vietnam's Q2/2026 report, the Hanoi market has more than 4,000 new apartments for sale, raising the total primary supply being offered to nearly 10,000 units. Of which, more than 75% of new apartments belong to the high-end and luxury segments, while mid-range and affordable apartments are still scarce.
The research unit said that the supply is largely concentrated in the high-price segment in the context of increasingly cautious buyers, causing the absorption rate to show signs of slowing down. The absorption rate at many projects opened for sale in the first half of 2026 only reached about 35-50%, significantly lower than the level of over 80% in the market bustling period of 2025.
On the secondary market, apartment prices in Hanoi have begun to adjust after a period of hot increase, many projects recorded local decreases from 5-12%. However, this decrease is still not enough to create a breakthrough in liquidity.
CBRE Vietnam also recorded the average selling price in the secondary market in the second quarter reaching about 60 million VND/m2, down 3% compared to the previous quarter. This is the first time that secondary apartment prices in Hanoi have decreased quarterly since the end of 2022.
Mr. Nguyen Thanh Tung, a real estate broker in Hanoi, said that secondary apartment prices tend to decrease, some projects even decrease by 10-15%, but it is still difficult to find buyers. Compared to last year, buyers are more cautious, often looking at many projects, comparing prices and considering financial capacity before spending money. Many people are still waiting for further price reductions, so transactions are quite slow.
Not only apartments, the land plot market in some areas is also adjusting strongly after the price increase period.
According to surveys, in Bac Ly commune, former Hiep Hoa district (now Xuan Cam commune, Bac Ninh), land plot prices are commonly around 15 million VND/m2, down 54% compared to the peak of 33 million VND/m2 in the third quarter of 2025.
At the Aqua Garden project, Thong Nhat ward (former Hoa Binh city, now Phu Tho), the price is about 19.1 million VND/m2, down 55% compared to the peak of 42.8 million VND/m2 in the second quarter of 2025. In Doan Bai commune, former Hiep Hoa district (now Hiep Hoa commune, Bac Ninh), the price in the first-second quarter of 2026 is about 10 million VND/m2, down 65% compared to the peak of 29 million VND/m2 in the fourth quarter of 2025.
In Hanoi, Minh Giang Dam Va urban area, Me Linh commune, has a price of about 30 million VND/m2 in Q2/2026, down 50% compared to the same period and a peak of 60 million VND/m2 in Q4/2025. Cienco 5 Me Linh urban area recorded a price in June 2026 of about 41.5 million VND/m2, down 31.1% compared to the peak of 60.2 million VND/m2 in August 2025.
In Uy No commune, former Dong Anh district (now Dong Anh commune), the price in June 2026 was about 133 million VND/m2, although up 25.5% compared to the same period, it decreased by 23.1% compared to the peak of 173 million VND/m2 in February 2026. Meanwhile, in Phu Cat commune, former Quoc Oai district (now Phu Cat commune), the price in the second quarter of 2026 was about 33 million VND/m2, down 15.4% compared to the same period and the peak of 39 million VND/m2 in the second quarter of 2025.
The Q2/2026 real estate market report of the Vietnam Real Estate Market Assessment Research Institute (VARS IRE) shows that land plots continue to be the segment under the largest liquidity pressure in the market restructuring process. Products that are mainly traded based on planning information or future price increase expectations are facing many difficulties, although selling prices in many areas have been significantly adjusted.
Many investors reduced their profit expectations, even accepting to reduce selling prices to recover capital, but purchasing power has not improved.
Ms. Pham Thi Mien - Deputy Director of VARS IRE - said that speculative cash flow is narrowing as buyers are increasingly cautious about products that are not yet exploitable or still depend on expected factors. This makes many areas that have recorded "land fever" waves according to planning information continue to fall into a state of sluggish trading.
