Information about the supply and price of apartments in Hanoi, at the press conference announcing the overview of the Hanoi Real Estate Market in the first quarter of 2025, Ms. Nguyen Hoai An - in charge of CBRE Hanoi Office - said that the source of new sale in the quarter reached nearly 3,920 apartments from 7 projects. This figure is still quite modest compared to the average of 8,000-9,000 units per quarter of the previous quarter.
However, compared to the same period in 2024, the number of newly opened apartments increased by nearly 70%, marking the first quarter in the past 4 years with the largest supply of new apartments in Hanoi.
The new supply is mainly concentrated in projects in Gia Lam, Dong Anh, Thanh Tri and Thach That districts. The market also recorded more diversity in product segments, ranging from mid-range, high-end to luxury. Notably, from 2022 to present, Hanoi has not recorded any new projects in the affordable apartment segment.
Regarding liquidity, the Hanoi apartment market in the first quarter of 2025 will remain stable. Total trading volume reached nearly 3,950 units, down 63% compared to the previous quarter but up 72% compared to the same period last year.
CBRE commented that in addition to the seasonal factor due to the Lunar New Year holiday, the fact that new supply has been continuously supplemented in recent times also creates pressure, causing the market to need more time to absorb.
The projects are located in large urban areas in the East and North of Hanoi, with clear legal status and developed by reputable investors, recording a positive absorption rate, reaching over 70% in the first quarter of opening for sale.
After 8 quarters of strong growth since the beginning of 2024, the price of apartment prices in Hanoi has shown signs of slowing down in the first quarter of 2025. According to Ms. Nguyen Hoai An, in the primary market, the average selling price is about 75 million VND/m² (excluding VAT, maintenance fee and incentives and discounts), up 34% over the same period last year but only an increase of 3% compared to the previous quarter - the lowest increase from the second quarter/2023.
Some newly opened projects with the advantage of investors, large project scale, full amenities and convenient connections to the city center continue to set high primary prices.
In the secondary market, the price increase also slowed down in the first quarter. By the end of the quarter, the average secondary selling price of apartment projects in Hanoi reached about 50 million VND/m² (excluding VAT and maintenance fee), an increase of nearly 20% compared to the same period in 2024 but the quarterly increase was only 3% - the lowest since the third quarter of 2023.
Projects with prime locations, near existing residential areas and good rental potential, especially in the areas of Nam Tu Liem, Hai Ba Trung, Long Bien and Gia Lam, recorded a slight increase of 2-3% quarter-on-quarter. Meanwhile, the selling prices of the remaining projects have remained almost unchanged.
