According to Lao Dong, many old apartment buildings in Hanoi are currently being offered for sale at high prices. Many places have even recorded prices of up to 4 billion VND/unit - equivalent to the price of many new apartments in suburban areas.
In particular, at G1 Trung Tu apartment complex, Kim Lien ward, an apartment with an area of 60m2 is being offered for sale at 3.7 billion VND, equivalent to 61.67 million VND/m2.
At Thanh Cong apartment complex, Giang Vo ward, a 40m2 apartment is priced at 3.9 billion VND, or more than 97 million VND/m2.
A collective house in Kim Ma collective housing area with an area of 75m2 is being offered for sale at VND4.85 billion, equivalent to VND64.67 million/m2.
Referring to this issue, Mr. Nguyen Van Dinh - Chairman of the Vietnam Association of Real Estate Brokers (VARS) - said that the price of old collective apartments is constantly increasing due to scarce supply and constantly climbing apartment prices. In addition, the location in the center is also the reason why apartment buildings have high prices.
According to Mr. Dinh, buyers of old collective houses need to pay attention to the actual area and the expanded area. During their stay, many households have arbitrarily expanded their area by building temporary structures such as "tiger cages". That makes the area on paper up to tens of square meters.
In addition, Mr. Nguyen Huu Cuong - Chairman of Hanoi Real Estate Club - shared: "The fire prevention and fighting system and water supply and drainage are also factors that need special attention, because most of the old apartment buildings have existed for decades. When buying an old apartment, it is necessary to find out whether the apartment is under the renovation planning or not to have a reasonable plan".
The price of old collective houses in Hanoi is increasing sharply, many places exceeding the threshold of 4 billion VND/unit. Accordingly, buyers need to carefully consider the selling price based on actual quality, legal risks and future renovation costs.
Not only old collective projects at high prices, many old apartment projects are recording an increase in prices.
The latest survey from Batdongsan.com.vn shows that in the Vinhomes Smart City metropolis (Tay Mo ward, Hanoi), the selling price and actual transaction price have increased by an average of 150 - 350 million VND/unit in the past month. Accordingly, 1-bedroom+ apartments in the Sapphire subdivision have increased in price from 3.1 - 3.2 billion VND to 3.3 - 3.5 billion VND/apartment. The 2-bedroom, 1-bathroom apartment also recorded an increase from 3.6 - 3.7 billion VND/apartment to 3.8 - 4 billion VND/apartment.
At Home City, 2-bedroom, 2-bathroom apartments with an area of over 70m2 have increased in price from 200 - 350 million VND/unit, from 6.2 - 6.3 billion VND/unit (early May 2025) to 6.5 - 6.7 billion VND/unit.
Meanwhile, the Hanoi Center Point project with the 2-bedroom, 2-bathroom product line also recorded a price of over 6 billion VND/unit, with no more apartments remaining at 5.7 - 5.8 billion VND/unit as after Tet.
Mr. Tran Minh Tien - Director of the Center for Market Research and Customer Insight (One Mount Group) - commented that the current developments in the secondary market show that cash flow is clearly shifting from underliverable land products to the apartment segment that has been handed over. Stability, rental ability, quality of life and complete legal documents are factors that help transferred apartments maintain their appeal.
Mr. Tien believes that if the recovery momentum continues to be maintained in the coming quarters, secondary apartments will continue to play a pivotal role in maintaining liquidity for the entire real estate market in 2025.
