Data from OneHousing Center for Market Research and Customer Understanding shows that, as of the second quarter of 2024, the average price of primary apartments in the entire Hanoi market will reach about 65 million VND/m2, an increase of 25%. quarterly and 29.8% year-on-year.
In particular, the apartment price in the West area is the highest in the whole market at about 70 million VND/m2, the price level in the East area is lower than the general market level, about 56 million VND/m2.
Talking to Lao Dong, Mr. Tran Quang Trung - Director of Business Development OneHousing said that currently, there is not much supply of new projects. It is forecast that the total supply of 2024 in Hanoi market will be about 22,000 units. Meanwhile, according to data from the Hanoi Population Department, each year the Capital adds 160,000 people, leading to a huge demand for home ownership.
Besides, if in the years 2016 - 2021, customers have many choices in segments to invest in such as: land, resorts, villas, townhouses, shophouses... but in the past 1 year, Here, investors mainly choose segments that meet real needs, real estate can generate cash flow with high liquidity, focus on large markets to avoid risks and apartments are the solution. their choice.
Customer behavior in choosing accommodation has changed. Previously, Hanoi people did not pay much attention to buying apartments to rent, keep money or as a place to live, but they still favored real estate, but now they have changed that thinking.
Mr. Tran Quang Trung added that Vietnam has the fastest growth rate of the middle class in the world, and the demand for home ownership in the middle and high-end segments is large. Investors must also develop projects to meet this audience. Thus, the prices of apartment projects are also pushed up.
Accordingly, it is difficult to wait for apartment products to decrease in price when input prices such as land costs, design, landscape construction, utilities... all increase. Currently, investors with available land funds are located in large urban areas, with expensive project development costs, due to many infrastructure and utilities, leading to input prices of apartment products. High.
It is forecasted that apartment supply in the near future will not improve much. Accordingly, in 2025 the supply will reach 23,000 units and in 2026 it will be 24,000 units.
"Waiting for apartment prices to decrease, especially after the law changes, I think is very difficult in the current context. In the future, in 2026 - 2027, if the supply can improve, but want to buy an apartment Cheap prices will have to accept going far, for example Thanh Tri, Phu Xuyen... In the immediate future, in 2024, 2025, 2026, I have not seen any factors that can cause apartment real estate prices to decrease" - Mr. Trung said .
