According to a survey by Lao Dong Newspaper reporters, currently on online real estate trading sites, forums, and social network groups, a number of villas in Hanoi are being advertised for sale at prices of several hundred billion VND.
Accordingly, a detached villa with an area of 496.3 m2 in a low-rise housing area in a project in Me Tri (Nam Tu Liem district, Hanoi) is being offered for sale at a price of 500 billion VND, equivalent to about 1 billion VND/m2. According to the seller, this villa is located in a corner lot, with 3 open sides close to the lake. The house is built on 4 floors with 8 bedrooms, with a construction area of 1,200 m2.
Similarly, another villa is introduced in a corner lot, near the lake with an area of 310 m2, for sale at 355 billion VND, equivalent to a price of more than 1.1 billion VND/m2. Or a 307 m2 villa, for sale at 435 billion VND, equivalent to a price of more than 1.4 billion VND/m2.
According to research, when the villa and townhouse products were launched for sale on the market, the primary price of the low-rise subdivision in this project was about 150 - 250 million VND/m2 depending on the location.
Currently, after more than 5 years of handover, secondary transactions at the project are still taking place with strong price increases. The common price of villas in this project is 500-700 million VND/m2. Villas in prime locations cost up to billions of VND/m2.
The trend of increasing villa prices does not only occur locally in one project, many other villa, townhouse, and townhouse projects also have high selling prices, up to 750 - 850 million VND/m2.
At Starlake Urban Area (Tay Ho District, Hanoi), a semi-detached villa in area K5 - the most beautiful location in the project, with an area of 240 m2, built on 4 floors, is being offered for sale at 204 billion VND, equivalent to a price of about 850 million VND/m2.
Another 320 m2 house in K7 area is for sale at 240 billion VND, equivalent to 750 million VND/m2. In addition, a series of villas in this project are for sale at 500 - 700 million VND/m2.
On the market, the price of villas in Starlake Tay Ho urban area is commonly around 300 - 500 million VND/m2. Villas in prime locations cost up to more than 700 million VND/m2.
Some low-rise villa projects such as the Diplomatic Urban Area in Xuan Dinh (Bac Tu Liem District, Hanoi), or the Him Lam Van Phuc Urban Area in Ha Dong District, many villas are also being offered for sale at prices of 400 - 500 million VND/m2.
Regarding the heat of the villa segment, Mr. Le Hoa - a real estate broker - shared: "The selling price of villas in some projects today compared to this time last year has increased by about 30%. Prices have increased and transactions are also more active, unlike before, currently villas are of great interest to the market. Customers with real money do not even care about the difference of hundreds of millions/m2, if they choose a satisfactory house, they will close the deal."
According to Savills's Q3 Hanoi real estate market report, the number of transactions in the villa and townhouse segment increased sharply by 194% quarter-on-quarter and 223% year-on-year, reaching 326 units, and the absorption rate in the quarter increased by 30% quarter-on-quarter, reaching 48%. This is the consecutive increase of this segment over the past 3 years.
Regarding selling prices, in the third quarter of 2024, secondary prices of villas and townhouses increased and were higher than the primary market. Secondary prices of villas were 13% higher, up 3% quarter-on-quarter; Townhouses increased 4% quarter-on-quarter, 20% higher than primary prices.
Assessing the prospects of this segment, Mr. Nguyen Van Dinh - Vice President of Vietnam Real Estate Association said that villas and townhouses will continue to increase in price in the coming time when supply continues to be scarce. However, prices will increase slowly and sustainably, there will not be price waves like in the recent past.
