Hanoi's real estate market is facing a period of strong shift as urban planning directly affects the trend of capital flows.
Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan. com. vn, said that Hanoi's biggest pressure today is the excessively high population density in the core area. The average density in the inner city districts (old) is up to about 19,000 people/km2, while the city's average is only about 2,600 people/km2. Besides, Hanoi also has about 2,160 apartment buildings and old collective houses, mostly built in the period 1960-1980 and concentrated in the inner city area.
To reduce the load on the central area, Hanoi is simultaneously implementing many solutions, from developing key infrastructure, expanding urban space to renovating old apartment buildings. The city aims to complete Ring Road 1, Ring Road 2.5 and Ring Road 3.5 in the period 2026-2027; preparing to start construction of 5 metro lines expected to be put into operation from 2030.
In parallel with that, the new plan orients Hanoi's development according to a multi-polar, multi-center model with 9 development poles, 9 major centers and 9 driving axes. Hoa Lac, Gia Lam, Dong Anh, Tay Ho Tay and urban development corridors oriented towards public transport (TOD) around metro lines are expected to become new growth potentials for the market.
For the old apartment renovation program, Hanoi sets a goal to complete the entire planning in the second quarter of 2027, and prioritize handling dangerous level D buildings in the 2026-2030 period.
According to Mr. Nguyen Quoc Anh, the biggest lesson does not lie in the price increase but in the planning that has helped reduce population pressure, improve quality of life and redistribute supply. When the core sector is repositioned, new growth poles are formed and connecting infrastructure is completed, the market has a foundation for sustainable growth.
Agreeing with this view, Savills Vietnam believes that Hanoi's housing market is entering a phase of expanding development space outside the traditional inner city area. This trend reflects the long-term development orientation of the Capital according to a multi-polar, multi-center urban model and strengthening regional linkages.
Savills also assessed that Hanoi's simultaneous start of 5 new metro lines in June 2026 is an important step to realize this orientation. Metro lines No. 1, 2, 8, 10 and 14 have a total length of more than 300 km, connecting many hubs such as Noi Bai airport, Hanoi station, Hoa Lac, Gia Lam, Dong Anh and new urban areas. The city aims to complete the lines by 2030, and at the same time develop a urban railway network of 18 lines with a total length of about 979 km according to the 2021-2030 plan.
Ms. Do Thi Thu Hang, Senior Director, Research and Consulting Department, Savills Hanoi, said that the simultaneous deployment of metro lines along with new planning orientations is creating a foundation for Hanoi to shift from a development model focused on the historical inner city area to a multi-polar, multi-center urban structure.
According to Savills, under the impact of the new plan, the real estate market will witness a strong shift in supply with products developed along key traffic axes. Depending on the function of each area, office, retail and housing segments will be integrated, in which the housing segment with prices below 50 million VND/m2 is expected to increase to meet the actual housing needs of the market.
