According to Savills Vietnam, the supply of apartments has improved significantly compared to the previous 5 years with the total supply of new apartments in 2024 reaching 24,996 units, the highest since 2020.
However, the price of apartments for sale continues to be high. The primary offering price (direct selling price from the investor) reached 75 million VND/m2, up 9% quarter-on-quarter and 29% year-on-year. In 2024, apartments priced over VND4 billion accounted for 59% of the total number of units sold, a significant increase from 2% in 2020. Apartments priced from 2 to 4 billion VND account for 40%, while only 1% of apartments cost less than 2 billion VND.
Savills said that the supply of new apartments in the Hanoi market in 2025 is expected to reach 25,200 apartments. B-class continues to lead, accounting for 88% of future supply. From 2026 onwards, about 70,000 apartments from 91 projects will be opened for sale. Dong Anh, Hoai Duc and Hoang Mai are expected to contribute 52% of the market share.
Ms. Hang - Senior Director, Consulting and Research Department, Savills Hanoi shared: "Currently, the market is experiencing an imbalance in supply, but with the adjustments from the Land Law, the Real Estate Business Law and the Housing Law, we believe that in the coming time, areas suitable for affordable housing development will be more focused. The law of supply and demand shows that when there is demand, the supply will certainly gradually be met.
At the same time, Savills' Senior Director also said that buyers can still have other options to seize the opportunity to own a home. Because, although it only accounts for a small proportion, it is impossible to say that the supply of apartments under 2 billion VND has completely disappeared, mainly because the number available in the primary market is increasingly scarce.
In the secondary market, these apartments still exist, although most of them are located in areas far from the center and have small areas. In addition, in terms of planning, there are still many projects in the implementation plan.
Therefore, the apartment segment priced under 2 billion VND may continue to be supplemented in the coming time. If this supply does not appear in the commercial market, social housing will be an alternative solution. Savills expects that more social housing projects will be launched on the market, contributing to solving the housing needs of the people.
Sharing about home ownership opportunities, Ms. Hang said that home ownership requires a complete knowledge base, and also requires time to accumulate finances. Especially for young people, when they have just graduated and graduated, most of them cannot have enough resources to buy a house immediately, so accumulating finances is inevitable.
Buyers can look to financial support packages. Using leverage helps shorten real estate ownership time, however, a reasonable financial plan is needed to ensure payment capacity.
In addition, another strategy is to look for real estate in areas far from the center, where prices are more reasonable. This may require flexibility in traveling, but it is a viable solution for those with limited budgets. Not to mention, the strong development of Hanoi's transport infrastructure in the coming years with a number of outstanding projects such as Tu Lien Bridge, Ngoc Hoi, Tran Hung Dao and component project 3 of Ring Road 4 - Capital Region will support the connection between Hanoi and neighboring areas to become more convenient.
