From December 2024 to the present, Hanoi apartments no longer record continuous price fluctuations in a short period of time but tend to go sideways.
The transaction volume also decreased significantly compared to November 2024 and earlier. According to Batdongsan's survey, at Vinhomes Smart City project, in the secondary market, in November 2024, the price of studio apartments was commonly offered from 2-2.2 billion VND/apartment, but from December 2024 to present, some homeowners needed to sell urgently, the offering price only fluctuated from 1.9-2 billion VND/apartment.
Also in this project, the selling price of 2-bedroom, 1-bathroom apartments also decreased slightly from 3.7-3.8 billion VND/apartment to 3.5-3.6 billion VND/apartment. The selling price of 2-bedroom, 2-bathroom apartments also decreased from 4.2-4.3 billion VND/apartment to 4-4.1 billion VND/apartment.
Slight price reductions were also recorded in some other projects. For example, also in Nam Tu Liem, during the hot period, 2-bedroom, 2-bathroom apartments were offered for sale at 4.7-4.9 billion VND/unit, but at present, many apartments are being offered for sale at a common price of 4.7 billion VND/unit.
In Cau Giay district, a 2-bedroom, 1-bathroom apartment at A14 Nam Trung Yen, which was once offered at 3.6-3.7 billion VND/unit, has now been slightly reduced to 3.5-3.6 billion VND/unit due to the owners needing to sell it urgently. The offered price has also decreased by 100-200 million VND/unit in a series of other projects such as Hanoi Center Point, Handiresco Complex, HomeCity, Central Field, Bac Ha Tower, etc.
According to real estate brokers, homeowners are selling at a profit, not a loss. Mr. Nguyen Ngoc Tan, an apartment broker in Thanh Xuan district, said that in early 2023, his client bought a 3-bedroom apartment in a project on Nguyen Tuan Street (Thanh Xuan) for more than 5 billion VND, but a week ago transferred it to another client for 8.9 billion VND. This price has decreased slightly compared to the average price of a 3-bedroom apartment in the project of about 200 million VND - the asking price in November 2024.
Sharing the same opinion, Ms. Khanh Van, a Ha Dong apartment broker, said that many homeowners who want to quickly make a transaction have accepted a reduction of 100-200 million VND/apartment compared to 2 months ago. This reduction is only to cut profits, not to cut losses.
Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, said that in the short term, the supply of residential real estate in 2025 will continue to grow, about 10% compared to 2024, and will be contributed more evenly by regions, when many projects have had their problems resolved and will be re-implemented in 2025.
Many projects also have plans to “launch” to anticipate the market recovery opportunity. The real estate supply is expected to continue to be mainly contributed by large urban areas in the provinces and cities in the Northern region of major investors. Notably, the apartment segment, mainly the segment priced from 50 million VND/m2 and above, continues to “lead” the market, with an increase in luxury supply.
The Chairman of the Vietnam Real Estate Brokers Association emphasized that housing projects opened for sale in 2025 will still receive attention, be transacted, and be well absorbed, but the absorption rate is likely to slow down. The apartment segment will continue to "dominate" market liquidity. However, apartment liquidity will still be concentrated in large urban projects. Housing demand, especially investment demand, will continue to shift to suburban areas and tier 2 and tier 3 provinces and cities, where prices are lower and there is more room for growth in the future.
