Condominiums are the hottest segment of the real estate market in 2024 with good interest and price growth. After a period of strong price increases, apartment prices in some projects have achieved an increase of up to 38-39%.
Regarding the increase in apartment prices in recent years, Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said that the average selling price of apartments in 2021 fluctuated from 34-37 million VND/m2; in 2022, from 38-40 million VND/m2; in 2023, from 39-42 million VND/m2; in 2024, it reached 45-51 million VND/m2.
Compared to the same period last year, the apartment projects with the best price increase in the Hanoi market in the first 10 months of the year include Times City with an increase of 39%, Goldmark City with an increase of 38%, Vinhomes Ocean Park Gia Lam with an increase of 38%, Vinhomes D'Capital with an increase of 27%, Vinhomes Smart City with an increase of 26%.
In terms of interest, the markets with the highest interest in apartment buildings in the North include Hanoi and Hung Yen with a growth rate of 7% compared to the first quarter of 2024, followed by Hai Phong with a growth rate of 6%.
In Hanoi, the apartment projects receiving the greatest interest from users in the third quarter of 2024 are Hanoi Melody Residence with an increase of 88%, Heritage West Lake increased by 87%, Sunshine Green Iconic increased by 76%, Sunshine Golden River increased by 74%, The Sapphire - Vinhomes Smart City increased by 58%.
In the primary market, apartment prices in Hanoi are very high, some projects in suburban districts of Hanoi exceed 100 million VND/m2, many projects approach 100 million VND/m2.
According to a survey by Lao Dong Newspaper reporters, in Dong Anh district, Masterise Homes has offered apartments at the Masteri Grand Avenue project for sale at an average price of 90-120 million VND/m2. MIK Group is also introducing Imperia Co Loa apartments to the market at a price of 90-110 million VND/m2.
In other areas such as Ha Dong and Gia Lam, some projects have selling prices approaching 100 million VND/m2 such as QMS Top Tower at the intersection of To Huu and Vu Trong Khanh, which is the border between Nam Tu Liem and Ha Dong districts, with an average selling price of 70-85 million VND/m2 for normal apartments; 95-98 million VND/m2 for corner apartments in beautiful locations.
Or The Senique Hanoi project located in Vinhomes Ocean Park urban area in Gia Lam has an average selling price of 70-80 million VND/m2.
Forecasting the price trend in the coming time, Mr. Quoc Anh commented that the price level of apartments in the coming time is very difficult to decrease. However, the expert predicted that the price of apartments next year will be stable, not as hot as the current period. Because the price of houses has increased too much in the past time. "Any market after a period of overheated development will at least be stable, it cannot increase forever" - Mr. Quoc Anh said.
