Mr. Nguyen Manh Hung (35 years old, from Vu Ban district, Nam Dinh) informed that when seeing the high price of apartments in the inner city, his family just decided to buy a 78m2 apartment for 2.55 billion VND, equivalent to more than 32 million VND/m2 in Hoai Duc district.
"My wife and I both work in Cau Giay district. Although it is about 10km away from our workplace, because of the reasonable price, my family decided to buy this apartment," said Mr. Hung.
Similarly, Ms. Trinh Thi Hoa (39 years old, working in Hoan Kiem district) informed that with a small amount of savings of about 2 billion VND, her family decided to buy a 60m2 apartment for 2.7 billion VND, equivalent to 46 million VND/m2 in a remote area of Long Bien district to stabilize their lives.
According to Ms. Hoa, when seeing the price of inner-city apartments increasing, her family did not wait for the price to cool down but borrowed nearly 800 million VND from friends and relatives to buy a house and hire an interior designer.
A recent report by the Vietnam Real Estate Brokers Association shows that apartments continue to increase and maintain their leading position in supply, however, supply is still mainly concentrated in high-priced segments.
In 2025, demand for residential real estate will continue to increase with economic development and urbanization, including both real estate and investment needs.
Regarding selling prices, for the apartment segment, primary selling prices are forecast to continue to be high as supply recovers strongly but remains scarce compared to demand. Secondary selling prices of apartments will not decrease but growth rate will slow down.
Ms. Do Thu Hang - Senior Director, Research and Consulting Department, Savills Hanoi - acknowledged that recently, the Hanoi real estate market has been experiencing small fevers in the apartment segment.
According to Ms. Hang, in many areas, apartment prices change every day. The scarcity of supply for a long time, along with the fear of continued high housing prices, has caused customers to speed up their decision to spend money compared to before.
Ms. Nguyen Hoai An - Senior Director of CBRE in Hanoi - forecasts that currently, apartment products for living and investment in the market are quite diverse, however, the price level is also higher than previous years. Therefore, waiting for housing prices to decrease is not feasible.
According to Ms. Nguyen Hoai An, real estate prices can only decrease when there is excess supply, slow demand growth affecting market liquidity, affecting selling prices, or there are major fluctuations in the macro, financial markets, and economic growth.
Forecasting the upcoming developments of the apartment market, Ms. Nguyen Hoai An said that in 2025, the supply of new apartments could reach over 30,000 units. Prices will not decrease but will not increase as rapidly as in the recent period, possibly only increasing by 5-8% compared to 2024.
