According to Lao Dong reporter, the 2024 real estate market report of the Ministry of Construction recently said that in big cities, apartment prices have increased compared to 2023.
Notably, new apartment price levels have been set for all segments.
The Ministry of Construction also stated that the affordable apartment segment, which previously cost less than 30 million VND/m2, has now increased to 45 million VND/m2.
The mid-range apartment segment, which previously had a selling price of 30-45 million VND/m2, has now increased to 45-70 million VND/m2. The high-end segment, which previously had a selling price of 50-70 million VND/m2, has now increased to 70-100 million VND/m2.
According to the Ministry of Construction, in 2024, apartment prices in some major cities will continue to increase. In Hanoi, apartment prices have increased by about 40-50% compared to 2023, with some projects increasing at higher levels.
Referring to this content, Mr. Dinh Minh Tuan - Business Director of PropertyGuru Vietnam - analyzed that in 2024, nearly 67% of new supply in the Hanoi real estate market is concentrated in the high-end and luxury segment.
According to experts, the price level of apartments in the coming time will hardly decrease. Although not as hot as it is now, this type of apartment still meets the real needs of buyers and will continue to lead the market this year.
Forecasting the real estate market in 2025, Ms. Duong Thuy Dung - CEO of CBRE Vietnam - said that apartment prices will not decrease but the growth rate will slow down, only about 5-8% compared to 2024.
Many real estate experts say that the scarce supply of new projects has caused the apartment segment in Hanoi to increase in price abnormally recently, predicting that the new apartment segment with selling price under 50 million VND/m2 in Hanoi will gradually disappear.
Mr. Tran Quang Trung - Business Development Director of OneHousing - also believes that in 2025, the apartment segment will still be a product that meets the needs of cash flow investment and investment waiting for price increase.
In addition, according to Mr. Trung, if considering the same investment level, apartment products are showing superior values compared to townhouses and residential land products in terms of rental rates and price increase rate. Notably, the profit margin of the apartment segment is currently fluctuating at an average of over 30%/year.
