The landed house and private house segment in Hanoi continues to be high, many houses in deep alleys are advertised for sale up to 300-400 million VND/m2. In the context of strong price increases, the market is starting to record a trend of buyers shifting to the apartment segment to optimize real housing needs.
According to Ms. Do Thi Ngoc Anh - Senior Business Manager of Batdongsan. com. vn, in the first quarter of 2026, the private house segment showed a clear difference between Hanoi and Ho Chi Minh City.
The level of interest in private houses in old Ho Chi Minh City increased by 7% compared to the end of 2025, while Hanoi decreased by about 22%. According to Ms. Ngoc Anh, this development stems from the opposite price levels between the two markets.
In Hanoi, private house prices have maintained a continuous upward trend for the past year. Meanwhile, Ho Chi Minh City, after a period of strong increase in 2025, has begun to adjust slightly in the first quarter of 2026.
Reality shows that in Ho Chi Minh City, in areas where house prices decreased by about 1-7% in the first quarter of 2026, the level of interest increased by 8-15%. According to Ms. Ngoc Anh, this shows that when the price level becomes more reasonable, demand tends to return.
Conversely, in Hanoi, many areas recorded private house prices increasing by 20-30%, leading to a decrease in interest because buyers are becoming more cautious about the new price level.
According to the latest report from CBRE Vietnam, the land-attached real estate market in Hanoi in the first quarter of 2026 recorded signs of supply recovery, but selling prices continued to increase.
In the first 3 months of the year, Hanoi had 986 new apartments for sale, an increase of 51% compared to the previous quarter but still a decrease of 34% compared to the same period last year. Most of the new supply continues to be concentrated in suburban areas such as Thuong Tin, Dan Phuong and Gia Lam, in the context of increasingly limited land funds in the central area.
Regarding transactions, the entire market recorded 947 units sold in the first quarter, an increase of 15% compared to the fourth quarter of 2025 but a decrease of 48% compared to the same period last year. According to CBRE, buyers are currently more selective, prioritizing projects with clear legal status, convenient locations and developed by reputable investors.
Notably, the primary price level in Hanoi in the first quarter of 2026 averaged 231 million VND/m2 of land, an increase of 24% compared to the previous quarter. CBRE said that the increase came from the appearance of many new high-priced products, and at the same time, investors continued to adjust prices upwards for existing inventory.
Assessing the reality that many houses in deep alleys in Hanoi are being offered for sale at 300-400 million VND/m2, Mr. Le Dinh Chung - General Director of SGO Homes said that the current price level is already high compared to the affordability of most buyers.
According to Mr. Chung, the market does not rule out the possibility of the appearance of crowd psychology, or FOMO effect, when cash flow focuses on products that are scarce.
However, in terms of actual use value, the trend of shifting from real estate to apartments is becoming increasingly clear. When house prices in alleys increased sharply for a long time, many real homebuyers who previously prioritized real estate have begun to switch to choosing apartments.
With the same financial level, apartments can bring a larger usable area, a more convenient living environment and a more synchronous utility system," Mr. Chung said.
According to this expert, in the near future, house prices in alleys may experience certain adjustments, especially when policies to relocate schools out of the inner city are implemented, reducing the demand for rent in some areas.
Currently, the demand for buying houses in alleys mainly comes from two purposes: to live in and for rent. If the demand for rent decreases, the pressure to increase prices will also decrease," Mr. Chung said.
