Entering the second half of 2025, the Vietnamese real estate market recorded many clear signs of recovery: supply increased again, liquidity improved, investor confidence gradually strengthened.
Talking to Lao Dong, Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn - said that the third quarter of 2025 continues to be a " Pretty good" period for the Hanoi apartment segment. Comparing the period of September 2025 to April 2025, the level of interest increased by about 18%, search demand remained high. The average price level reached about 81 million VND/m2, a sharp increase if compared to the long cycle (over 200% compared to before).
He said that the average apartment price in Hanoi is currently nearly 70 million VND/m2 higher, while the Ho Chi Minh City market is starting to show signs of recovery.
In the third quarter, although the number of newly opened projects was not large, most of them recorded an offering price of over 100 million VND/m2. Some social housing projects have begun to pilot online application registration to screen eligible people.
However, the transaction volume showed signs of slowing down as many homeowners stopped selling because they expected prices to increase. In general, the trend of the Hanoi apartment market remains positive.
Analyzing the vibrant area, he divided Hanoi into four directions: North - South East - West. In particular, the West had almost no new supply, the North and Northeast were vibrant in the second quarter, while the third quarter witnessed the prominence of the Eastern region thanks to large projects such as Vinhomes Ocean Park 1. Some of the final projects of Ocean Park 1 are being offered for sale at 120 - 130 million VND/m2.
He said that the "fear of missing the rhythm" mentality has made many people accept buying at high prices, while the supply in this area is gradually depleted, pushing the market to Hung Yen. Currently, the non-central area accounts for about 63 - 64% of the total supply, the center has only about 27% and the price is very high.
Explaining the reason for the continuous increase in apartment prices, Mr. Nguyen Quoc Anh pointed out five main factors. Accordingly, real estate is a safe channel during the period of change, cash flow flows into apartments and private houses - assets with stable profitability.
In addition, policies and taxes tend to tighten vacant assets and encourage real estate products. Along with that, the need of young people for a convenient, safe and modern living space makes apartments increasingly popular.
In the context of loose cash flow and inflation, the value of protective assets has increased, leading to real estate. The rapid urbanization and high demand for real estate make apartments an inevitable choice.
He proposed applying a tax based on holding period: selling in the first year subject to high tax (about 30%), after 1 year gradually decreasing to 10% to limit short-term speculation without shocking the market.
For land, the level of interest nationwide in the third quarter decreased by 11% compared to other types. Private houses increased by 13%, townhouses increased by 11%, while land plots mainly remained stable or decreased. Weak liquidity is the biggest problem. He predicted that if macro bottlenecks and policies are removed, the land market can recover from the end of 2026 to the beginning of 2027.
In the North, about 80% of the interest is concentrated in four localities: Hai Phong, Hung Yen, Bac Ninh and Quang Ninh - accounting for nearly 84% of the searches. Hai Phong has grown strongly thanks to infrastructure and industry, Hung Yen has emerged as a satellite city of Hanoi with a large supply, while Quang Ninh is sluggish due to high prices and stable population.
Regarding prospects, he said that the fourth quarter of 2025 and early 2026 will still be a period of conflict, depending heavily on macro factors, taxes and international policies. Products serving real housing needs such as apartments and private houses continue to lead the market, while land and resorts recover more slowly. The southern regions are starting to show signs of being vibrant again thanks to a number of large-scale projects.
In general, the fourth quarter of 2025 is still expected to be a positive quarter for the Vietnamese real estate market, but the differentiation between segments will be more obvious - the long-term investment group with stable cash flow will play a leading role.
