After a period of strong growth, apartment prices are currently at a high level. According to a survey by Lao Dong, most of the newly opened projects are in the high-end and luxury segments, while products in the mid-range and affordable segments are scarce.
In Hanoi, commercial apartments priced under VND35 million/m2 are almost non-existent, the market lacks products in this segment. The average price of primary apartments in Hanoi is currently quite high, from VND60-120 million/m2.
According to many real estate brokers in Hanoi, apartments priced under 2 billion VND are often used apartments and located in the suburbs.
Mr. Nguyen Hoang Nam (32 years old, from Hai Phong) is currently looking for apartments priced under 2 billion VND. Mr. Nam said he has been doing this since mid-2024. Currently, Mr. Nam is quite satisfied with an apartment priced at 1.7 billion VND in Thanh Tri district (Hanoi).
“The high price of apartments has made it very difficult for me to find some cheap apartments. However, because they are often far from the city center, I am quite hesitant about the inconvenience of moving,” Nam shared.
According to a survey by Lao Dong, in Hoang Mai district, some projects with apartments priced under 2 billion VND include: apartments in Kim Van - Kim Lu urban area, HH1 Linh Dam - Hoang Liet ward, Licogi 12 project - Dai Kim ward... In Thanh Tri district, Dai Thanh apartment is the most popular project with a price of under 2 billion VND.
In Ha Dong district, some apartments in Thanh Ha Muong Thanh urban area - Kien Hung ward, Nam Xa La apartment building - Phuc La ward also have prices of about 2 billion VND. With this price in Long Bien district, there are apartments in Viet Hung urban area - Duc Giang ward, apartments in Sai Dong urban area...
It is known that apartments priced under 2 billion VND usually only include 1 bedroom, 1 bathroom and have an area of less than 55 square meters.
According to the third quarter real estate market report of the Ministry of Construction, the total number of successful transactions for apartments and individual houses reached 38,398 products, an increase of 48% compared to the previous quarter.
Apartment prices in Hanoi continued to record an upward trend in both new and old projects. Prices in new projects increased by 4-6% quarter-on-quarter and 22-25% year-on-year. Some areas saw sharp increases, ranging from 35% to 40% compared to the previous quarter.
The low-cost apartment segment, under VND25 million/m2, has almost no transactions and lacks products for sale. Meanwhile, mid-range apartments with prices from VND25 million/m2 to under VND50 million/m2 still dominate both transactions and supply. The rest are high-end and super high-end products with prices above VND50 million/m2.
