Supply recovers but prices do not decrease
For the past few months, every weekend, Mr. Minh Thanh (35 years old, IT employee in Hanoi) and his wife have driven around My Dinh - Cau Giay area, carefully researching the areas, projects being opened for sale and old apartments... in the hope of finding a place to live after more than 10 years of living in the capital. But the longer the journey to find a home, the further that dream becomes.
"We have saved nearly 2 billion VND. Thinking that trying to borrow another 2 billion VND to have a place to live, the couple also had the motivation to strive. But in reality, a two-bedroom, mattress apartment is only worth 5-6 billion VND," said Mr. Thanh.
In a newly opened project, the asking price was over 100 million VND/m2. It is estimated that the average price of a house with an area of about 75m2 is more than 7 billion VND. I can't even get the maximum loan amount" said Mr. Thanh.
Many nights, the couple lay calculating but the more they discussed it, the more worried they were. "If I buy, I may have to borrow more from relatives, the rest will be borrowed from the bank. But each month, he paid more than 20 million VND in interest. I don't dare to get sick or quit my job," Thanh shared.
Similarly, the family of Ms. Nguyen Hue (33 years old, marketing employee in Hanoi) is also struggling on the journey to find a place to settle down. Ms. Hue said that she has been looking at the house for half a year. Initially, she set a target of finding a 65-70m2 apartment, priced at around 3-3.5 billion VND. But when I went to see it in reality, the lowest price of old apartments was more than 5 billion VND.
Since last year, prices have almost only increased. The broker said it would increase. My husband and I earn more than 40 million VND/month, but looking at the house price, we still find it helpless, said Ms. Hue.
Stories like Mr. Thanh's or Ms. Hue's family are not isolated. While many young families struggle to find a place to live, the price level continues to increase. Even with a sharp increase in supply and inventory, housing prices still show no signs of cooling down.
Ms. Pham Thi Mien - Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation - said that in the third quarter of 2025, about 34,686 new products were launched on the market, reaching the highest level in the same period in 2021-2024, equivalent to 2.4 times compared to the third quarter of 2024.
Inventory increases sharply, liquidity is still good
The Ministry of Construction's Housing and Real Estate Market Information Report for the third quarter of 2025 also said that the supply of commercial housing projects, social housing and land has improved significantly.
Notably, the Ministry of Construction said that statistics from 22/34 localities show that the total amount of real estate in stock reached more than 26,700 apartments/house, including 6,323 apartments, 12,327 individual houses and 8,067 land plots. In particular, apartment inventories increased by 37% compared to the second quarter of 2025.
Regarding selling prices, housing prices recorded many fluctuations in an upward direction. The Ministry of Construction said that the average price of newly opened projects nationwide reached about 78 million VND/m2. More than 30% of new supply has prices from 100 million VND/m2 or more. Prices in the secondary market have also increased, notably in projects that have been handed over and have synchronous infrastructure.
Mr. Le Dinh Chung - General Director of SGO Homes - commented that newly opened projects have higher prices than the same period but are still well absorbed, even "selling" on the first day of opening thanks to increased demand for real estate and investment in the context of cheap cash flow and inflationary pressure promoting the search for safe-haven assets.
In the first 9 months of the year, the absorption rate of newly opened supply reached 68%, corresponding to more than 58,000 successful transactions, double the same period in 2024.
