Hanoi's real estate market is recording adjustments in many segments after the price increase period. Not only apartments, the asking prices for land, townhouses, private houses and villas in the third quarter of 2026 (up to the present time) have all decreased compared to the first quarter of 2026. Along with that, market activity has also slowed down, especially in the land plot segment.
According to Batdongsan. com. vn, the popular apartment asking price in Hanoi in the third quarter of 2026 was 84 million VND/m2, down 3% compared to 87 million VND/m2 in the first quarter of 2026.
The strongest decrease was recorded in the land plot segment, when the asking price was from about 81 million VND/m2 in the first quarter of 2026 to 70 million VND/m2 in the third quarter of 2026, equivalent to a decrease of 14%.
The remaining types also adjusted, but the decrease was lower. The asking price for townhouses decreased by 2%, from 536 million VND/m2 to 525 million VND/m2. Private houses decreased by 1%, from 253 million VND/m2 to 250 million VND/m2; villas decreased by 1%, from 270 million VND/m2 to 267 million VND/m2.
Along with the price adjustment, activity in the Hanoi real estate market also slowed down in July 2026. The number of news about apartment sales decreased by 10% compared to the previous month, while the level of interest decreased by 2%. Compared to other types, the decrease in the level of interest in apartments is relatively low. Developments in July show that the level of interest in this type shows signs of slowing down after the previous downward period.
Land continues to be the type that bears the greatest pressure. In July, the number of land sales news decreased by 22% compared to June, and the level of interest decreased by 16%, both of which are the strongest decreases among the 5 surveyed types.
In other segments, the level of interest in townhouses decreased by 12%, villas decreased by 4% and private houses decreased by 3%. Regarding news feeds, villas decreased by 11%, while private houses and townhouses increased by 14% and 15% respectively.
According to the Vietnam Real Estate Market Assessment Research Institute (VARS IRE), 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 have reduced 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.
Recognizing the general developments of the market, Mr. Dinh Minh Tuan - Southern Regional Director of PropertyGuru Vietnam - said that this is the first time the market has recorded the phenomenon of most types of real estate adjusting prices after a period of hot increase. However, the decrease mainly occurred in the secondary market, while many new primary projects opened for sale continue to set high price levels.
According to Mr. Tuan, the fact that many segments are adjusting prices together reflects the market rebalancing process rather than a sign of widespread decline. Cash flow is no longer chasing after price increase expectations like in the 2021-2022 period but is shifting to products with real housing needs, transparent legality and benefiting from planning and infrastructure.
This shift is also reflected in the choices of buyers. According to Batdongsan. com. vn, in the last 6 months of the year, apartments continued to be the segment with the largest growth potential, followed by private houses. Among them, 64% of apartment buyers aim to serve real housing needs, and 36% buy for investment.
