Residential real estate: Largest new supply since 2021
According to Savills Vietnam, in 2026, the real estate market is expected to have a clear differentiation by region and segment. In the apartment segment, the supply in 2026 is expected to reach 18,454 units, mainly class A and B.
Ms. Do Thu Hang - Senior Director, Research and Consulting Department, Savills Hanoi commented: "In the short term, primary prices are expected to continue to maintain their upward momentum. Secondary prices have increased higher than primary prices in all segments, reflecting the increasing demand for apartments that can be handed over immediately and have a quality living environment.
In the long term, the basic factors of the market remain positive. Infrastructure expansion will open up new residential areas. Key projects such as Ring Road 4, metro lines and new bridges across the Red River will support the urban expansion process, helping to diversify housing supply in the future.
In 2025, Hanoi's apartment market continued to show strong recovery potential, thanks to improvements in infrastructure, planning reform and large demand. New supply reached the highest level in the past 5 years, mainly Grade B apartments. Major cities continue to attract great interest from buyers thanks to comprehensive infrastructure and well-planned urban ecosystems.
With the villa and townhouse segment, the market recovery becomes increasingly clear by the end of 2025, as more and more new projects are launched, along with a larger future supply expected to be launched in the coming years. Upcoming projects are expected to have higher development standards and be implemented by reputable investors. Total transaction volume in 2025 reached the highest level in the past 5 years, reflecting a clear recovery of market activity.
At the same time, the asset increase effect is increasingly clearly shown through the significant increase in the value of low-rise housing real estate. In the past 5 years, the price increase in the secondary market has continuously exceeded the increase in the primary market in all low-rise housing segments.
In the coming time, the driving force combined from compulsory relocation policies and large capital flows is expected to promote fundamental changes in the market, especially the trend of shifting demand to suburban areas, neighboring provinces and areas benefiting from large infrastructure projects.
Commercial real estate: Clear prospects for recovery and upgrade
In the commercial real estate segment, the Hanoi retail market is expected to welcome an additional 307,771 m2 of floor space from 11 projects in 2026.
According to Mr. Matthew Powell - Director of Savills Hanoi, Hanoi's retail market continues to maintain a state of limited supply. Shopping centers are still the main type. The inner city area recorded the highest retail density, consolidating its role as the main retail center of Hanoi, while the central area is still limited in space and only contributes a small part to the total supply.
Luxury brands continue to prioritize street front locations in Hoan Kiem district (old) to maximize brand recognition and presence. However, they are also gradually expanding into high-end commercial centers, managed professionally in inner city districts, reflecting the trend of shifting to retail focusing on experience, going beyond the traditional commercial street model.
In the office segment, in 2025, the market maintained stability and relative balance. Rent prices grew slightly, the central area continued to lead in terms of price level and operating efficiency, in the context that non-central areas recorded gradual improvement. The supply forecast for the 2026-2028 period is mainly Grade A and concentrated in the West and inner city areas, consolidating the trend of shifting to higher quality supply outside the center.
