According to One Mount Market Research & Customer Insight Center, the total number of primary apartment transactions in Hanoi and Van Giang (Hung Yen) in 2024 recorded about 33,800 units, more than 3 times higher than in 2023. Of which, the Eastern area had 12,800 transactions, accounting for 38% of the entire Hanoi market.
In terms of supply in the Eastern market alone, in 2024, Gia Lam district will have 11,000 units, accounting for 85% of the supply in the area. However, the amount of products will decrease sharply in 2025 and there is expected to be no more supply in 2026.
In Long Bien, supply in 2024 is still limited with more than 600 units, expected to increase to 2,800 units in 2025 as some investors have completed legal procedures and are starting construction. However, this number is expected to decrease by nearly half in 2026.
Notably, in 2024, the supply in Van Giang (Hung Yen) is 2,200 units, expected to triple in 2025 and reach more than 11,000 units in 2026 - equivalent to the year with the highest supply in Gia Lam district in 2024, mostly concentrated in satellite urban areas with many integrated utilities that have been formed such as: Vinhomes Ocean Park 2, Vinhomes Ocean Park 3, Ecopark...
According to Mr. Tran Minh Tien - Director of One Mount Center for Market Research and Customer Understanding, Van Giang will become the center of the Hanoi and Hung Yen apartment market in the period of 2025 - 2026, driven by 2 factors.
Accordingly, as the land fund in the inner city is gradually depleted, the city has been implementing policies to limit the population in the core area and redirect people to suburban areas such as Long Bien, Gia Lam and satellite areas such as Van Giang (Hung Yen). According to the development plan of the capital and Van Giang (Hung Yen), by 2030, the Eastern region is expected to have 1.05 million people, an increase of 39% compared to 2022. These population factors will create a great demand for housing and living facilities in the Eastern region in the coming time.
In addition, there is a vision for planning the eastern districts of Hanoi and Hung Yen province. In the coming time, the completion of key traffic projects such as Ring Road 3.5, Ring Road 4, Me So Bridge, Hong Ha Bridge... will create a big push for the development of Van Giang. Shortened travel time and convenient traffic connections will attract a large number of residents and businesses to invest and live.
With the vision of planning the Capital region and the methodical investment of real estate development units, Mr. Tran Minh Tien said that the appearance of large investors such as Masterise Homes, Vinhomes, CapitaLand,... and the advantage of land fund, the methodical planning of traffic infrastructure,... help Van Giang (Hung Yen) have a lot of room for development in the coming years.
In fact, up to now, the occupancy rate at Ocean Park 1 is high with nearly 60,000 residents moving in after 5 years of operation, moving from suburban districts to the old central area is no longer a barrier, not to mention the real estate prices in these new urban areas will be both diverse and more affordable for customers and investors to choose. And this scenario will continue to occur in the Ocean Park 2,3 area in the next few years when the low-rise and high-rise subdivisions are completed, thereby creating a migration flow attracting a large number of residents to come.
