According to statistics from Batdongsan.com.vn, the selling price of private houses in Hanoi has increased from an average of VND 125 million/m2 in January 2023 to VND 197 million/m2 in November 2024. Thus, after nearly 2 years, the price of private houses has increased 1.5 times.
Notably, after the apartment segment, the price of private houses is the segment that has had a remarkable rebound in price in recent years. According to data from Batdongsan.com.vn, compared to the first quarter of 2023, the fluctuation in the price of private houses in Hanoi increased by 52%, second only to the apartment segment (up 58%).
Specific statistics show that, compared to the beginning of 2023, the level of interest in private houses in Nam Tu Liem district increased by 43%, private houses in Hoang Mai increased by 28%, Dong Da increased by 21%, Ha Dong increased by 26%, Thanh Xuan increased by 12%.
According to Mr. Nguyen Quang Kien (a long-time real estate investor in Hanoi), the private house segment in Hanoi with a price range of 5-6 billion VND/unit is having the best transactions in the residential market.
Towards the end of 2024, when cash flow is more abundant, the number of people looking to buy private homes will increase significantly compared to other times of the year. Currently, the increase in private homes in Hanoi is about 15-25% compared to half a year ago, depending on the area.
Many real estate experts say that the price of private houses in Hanoi has been increasing continuously in the last 2 years. Currently, the segment of private houses around 4 billion VND/unit is not much, if there are, they are often located far from the center, in deep alleys.
Accordingly, the popular price range has increased to 5-6 billion VND/unit, this is the highest price range with the best transaction. Private houses priced from 7-8 billion VND/unit have slower transaction rates.
Mr. Dinh Minh Tuan - Business Director of PropertyGuru Vietnam - commented that the Vietnamese real estate market in 2024 is clearly differentiated.
Currently, the increase in private houses in Hanoi is about 15-25% compared to half a year ago. Meanwhile, the average selling price of private houses in Ho Chi Minh City is 108 million VND/m2, down 10% compared to January 2023.
Forecasting the real estate market in the coming time, PropertyGuru Vietnam experts commented that after a reversal period, from the fourth quarter of 2024 to the beginning of the second quarter of 2025, the real estate market will enter a consolidation phase.
Investors are more confident with financial and legal factors but still prioritize real estate with good cash flow. The focal and popular segment at this time will be private houses and townhouses.
