Hanoi's real estate market is entering a phase of adjustment as new supply is still being supplemented but purchasing power shows signs of slowing down.
According to JLL data, Hanoi recorded about 8,100 apartments officially opened for sale in the second quarter, of which 65% belonged to the high-end segment deployed by major brands. The average primary selling price continued to increase due to the large amount of high-priced apartment funds still in inventory, reaching about 101.5 million VND/m2, an increase of more than 32% compared to the same period last year.
However, the total number of apartments sold in the second quarter decreased by about 50% compared to the first quarter, showing the caution of buyers in the current conditions. Trading volume is trending from short-term investment to the need to buy for living.
For the townhouse market, JLL said that this segment recorded slow liquidity when newly opened apartment funds had less attractive locations or had high asking prices.
JLL also said that since the beginning of 2026, real estate purchase loan interest rates at many banks have increased, continuing to put pressure on liquidity. Buyers are increasingly sensitive to payment schedules and interest rate fluctuations, especially for products priced over 17 billion VND/unit if there are no preferential policies from investors.
In Q2/2026, the average primary selling price of landed houses decreased to about 210 million VND/m2 of land, 20% lower than the same period last year. According to JLL, the decrease mainly came from the fact that the shopping basket no longer had many high-priced supply sources of some large projects, while other projects still maintained a stable price level.
Forecasting for the next 6-12 months, JLL believes that the Hanoi apartment and landed house market will continue to welcome new supply opening for sale from major investors such as Masterise, MIK, Daewoo E&C, Sunshine and Tan Hoang Minh. However, competition is expected to increase as the price level remains high and demand mainly comes from the group of customers buying to live with a more cautious mentality than the group of investors. At the same time, strong supply in satellite provinces such as Bac Ninh, Hung Yen and Hai Phong will also create more competitive pressure on the Hanoi landed house market.
According to JLL, the current real estate market is not only affected by economic indicators but is also supported by three structural drivers including large-scale infrastructure investment, institutional reform and the shift of domestic and international capital flows.
From another perspective, Savills Vietnam believes that Hanoi's housing market is entering a transitional phase as the scope of urban development gradually expands beyond the traditional inner city area. This trend is consistent with Hanoi's development orientation towards a multi-polar, multi-center urban model and strengthening regional linkages.
According to Savills, in recent years, the new housing supply has mainly focused in Dong Anh, Long Bien, Hoai Duc and Dan Phuong - areas with development potential, advantages in land funds and benefiting from infrastructure investment. Meanwhile, primary supply in the central area continues to be limited due to scarce land funds and high development costs, transaction activities mainly take place in the secondary market.
Savills' report shows that the Hanoi housing market in Q2/2026 recorded transactions and short-term supply stagnation due to more cautious buyer sentiment. However, the trend of shifting away from the core center and expanding along development corridors to the North, East and West continues to occur. Along with Hanoi, Bac Ninh and Hung Yen are also attracting greater attention as inter-regional connectivity is increasingly improved.
According to Savills, under the impact of the new plan, the real estate market will welcome a strong shift in supply with diverse product lines following key traffic axes, while increasing the supply of housing in the segment under 50 million VND/m2 to meet the actual housing needs of the market.
