Up to now, although the fever has cooled down, the asking price of apartments is still high, some areas have had insignificant price reductions.
According to a survey by Lao Dong reporters, many apartment projects in Hanoi have prices ranging from 60-100 million VND/m2. Surveying the Viha Complex project (Thanh Xuan district, Hanoi), apartments here are being offered for sale at prices ranging from 75-97.2 million VND/m2.
For example, an apartment with an area of 93.4 square meters including 3 bedrooms and 3 bathrooms in this project is being sold for 7.7 billion VND, equivalent to 82.44 million VND/square meter.
At the Masteri West Heights project (Tay Mo ward, Nam Tu Liem district), it is being offered for sale at 64-87 million VND/m2. A 75m2 apartment designed with 3 bedrooms and 2 bathrooms in this project is being offered for sale by the owner at 5.5 billion VND, equivalent to 73.33 million VND/m2.
Or the Green Diamond 93 Lang Ha project (Dong Da district) is being sold for 90-125 million VND/m2.
Mr. Nguyen Duc Tuan (temporarily residing in Long Bien, Hanoi) said that he has changed his plan to buy a house to rent because the house prices are at a high level. Notably, grasping this trend, many landlords have also increased the rental prices.
According to Mr. Tuan, he is renting a 2-bedroom apartment in Long Bien district for 8 million VND/month. However, in early November 2024, the landlord increased the price to 9 million VND/month.
"I rented a house in Long Bien area from May 2024, at that time my house was rented under a 6-month contract for 8 million VND/month. However, when the lease expired, the landlord increased the price to 9 million VND/month because the current apartment prices are increasing and many homeowners around here are also increasing, so they have to increase accordingly" - Mr. Tuan said.
Having worked in the rental apartment business for nearly 10 years, during the market downturn, Mr. Vu Trong Khang (in Cau Giay district, Hanoi) considered selling 3/5 of his apartments to restructure his investment portfolio.
According to Mr. Khang, in the period 2014-2018, the rental housing segment peaked with an average profit rate of 6-8% (equivalent to bank deposit interest), and property values also increased rapidly. However, rental prices began to decline from the end of 2019 and began to "plummet" when the COVID-19 pandemic swept through.
“In 2021, the pandemic broke out, many rental apartment complexes were almost paralyzed, profits even dropped to 0%. In early 2022, many of my friends decided to sell their properties to reinvest. The rest tried to hold on, betting on the future and so far have initially paid off,” said Mr. Khang, adding that the rental apartment segment in 2025 will be popular when house prices cannot decrease.
Sharing the same opinion, Mr. Nguyen Phuc - a broker specializing in leasing in the Bac Tu Liem area (Hanoi) - said that this segment is currently attracting a number of investors to invest money. Because when they buy a house for rent, in addition to the profit from monthly rental income, the house price also increases.
However, according to experts, investing in this segment requires real money. If investors use too much financial leverage, the rental income is not enough to pay interest, and it is easy to fall into a cycle of debt.
