Mr. Nguyen Minh Tuan and his wife (working in Tu Liem ward) have spent nearly half a year looking to buy an apartment with a price range of 2-3 billion VND in Hanoi. However, the journey of "finding a home" became increasingly difficult when most of the newly opened projects on the market were in the high-end segment, with prices beyond the couple's ability to pay.
With about 2.5 billion VND accumulated, my wife and I only expect a 2-bedroom apartment, not too far from the center, to be able to stay immediately. However, there are fewer and fewer affordable apartments, mainly far away, with unsynchronized infrastructure. Most of the newly opened projects are priced at 4-5 billion VND or more" - Mr. Tuan shared.
Similarly, Mr. Pham Duy Khanh (32 years old, technology engineer) and his wife still have to temporarily put aside their plan to buy a house after many months of searching in hopelessness. For more than 4 months, the two have traveled to all areas of Tu Liem ward, Hoang Mai ward... but still could not find a satisfactory apartment in the price range of 3 billion VND.
"There are locations, but the area is small, only about 50m2. With more spacious apartments, it is far from the center, inconvenient for work and children in the future. Many projects are being advertised for sale at 3.5 - 4 billion VND, beyond current financial capacity, so even if they want to buy, they have to postpone them, Mr. Khanh shared.
These stories are not unique because in the current market, new projects are mainly concentrated in the high-end segment, with prices ranging from 50 - 100 million VND/m2. Meanwhile, the mid-range segment - which is the real need of the majority of urban residents - is extremely limited.
According to the Real Estate Market Report for the second quarter of 2025 of the Vietnam Association of Realtors, apartments continue to lead the supply of newly opened for sale, accounting for 56%. Of which, high-end and luxury apartments still account for a large proportion, reaching 60%, up 2 percentage points compared to the previous quarter and the same period in 2024.
In Hanoi, the average selling price of apartments in the second quarter reached about 75.5 million VND/m2, an increase of 7.7% compared to the previous quarter. The increase is mainly due to investors continuing to offer inventories at increasing prices. Secondary prices in Hanoi also increased again when newly opened projects were priced from 75 million VND/m2 or more (including VAT and KPBT), in which some projects were offered for sale at over 100 million VND/m2, although liquidity has not improved much.
The main reason is the appearance of many new projects with prices significantly higher than the old level, creating a new price level for the entire market.
Ms. Do Thu Hang - Senior Director of Savills Hanoi Consulting and Research Department - shared: "In Hanoi, there are currently many projects in prime locations, developed by reputable investors, causing product prices to increase. The price from 100 million VND/m2 has become popular. In the third quarter of 2025, it is expected that many new projects in beautiful areas will be launched on the market, with prices mainly from over 100 million VND/m2. Therefore, in the short term, it is unlikely to reduce the average apartment price level".
