Scarce inner city supply
According to the Hanoi Real Estate Market Report for the third quarter of 2024 by Savills Vietnam, this unit forecasts that from 2025 onwards, about 110,000 units from 106 projects will be launched on the market. This supply is mainly concentrated in Dong Anh, Hoai Duc, Gia Lam, Hoang Mai, accounting for 62% of the market share. It can be seen that Hoang Mai is the only inner-city district mentioned in the report.
Many market research units and experts also forecast that, besides the West of Hanoi, new supply in the coming years will be concentrated in the suburbs or the East including Gia Lam and Long Bien. Some large urban areas in Dong Anh and Dan Phuong are expected to contribute a large amount of goods when there are projects expected to launch in the next 1-2 years.
The shift of apartment supply to the suburbs and satellite cities is considered inevitable when the inner city is likened to a "tight shirt", with a large population and high population density. Notably, according to the Hanoi Capital Planning for the period 2021 - 2030, vision to 2050 and the Project to Adjust the Hanoi Capital Master Plan to 2045, vision to 2065, Hanoi will continue to implement the urban cluster model, including the central urban area, 5 satellite cities, ecological towns and connected by green corridors.
Meanwhile, demand for inner-city projects is increasing. According to statistics in 2023, Hanoi's population reached nearly 8.5 million people, but 12 inner-city districts "shouldered" over 45%, about 3.8 million people, although they only accounted for 9% of the area. Meanwhile, the Hanoi Capital Planning for the period 2021-2030, with a vision to 2050, forecasts that the permanent population by 2030 will increase to about 10.5 million people. With the current population distribution rate, the real demand for housing in the inner city will still be very high in the coming time.
The only apartment project being implemented in Southwest Linh Dam
Scarce supply makes new projects in the inner city at this time attract special attention from real buyers and investors. According to the reality at Hanoi Melody Residences - the only project being implemented in the Southwest Linh Dam area (Hoang Mai District), the number of visitors and inquirers is very large.
Mr. Nguyen Cuong (Hoang Mai, Hanoi) - a satisfied customer of Hanoi Melody Residences said: "I have intended to buy an apartment for 2 years now but the price has increased rapidly so I have been hesitating and waiting for a decrease. Until now, the price has not decreased but is forecasted to increase further, while the inner city supply is very limited. I have surveyed and am willing to wait a few more days, until this project is launched, then I will finalize the apartment".
In recent years, Tay Nam Linh Dam has been favored by customers, especially those with real housing needs, thanks to its open population density and well-planned planning. In particular, the Hanoi Melody Residences project is a highlight with many outstanding advantages.
Here, the investor provides the most abundant internal utility system in the area, fully meeting the living, entertainment and health training needs of residents of all ages. These include a system of shophouses with diverse planning of industries, a swimming pool area of up to 800m2, a children's playground, an internal kindergarten, an outdoor gym garden, tennis court, basketball court... This is also a rare project in Tay Nam Linh Dam that is invested in equipping 3 smart parking basements right under the apartment building.
Located at the heart of the Southwest Linh Dam urban area, the project enjoys perfect connections with the surrounding external utility system: from commercial centers, convenient supermarkets, office buildings, hospitals, inter-level schools, major universities of Hanoi. Along with that is the cool green space from the park system of nearly 300 hectares including: Linh Dam park, Yen So park, Chu Van An park and more than 90 hectares of large river and lake surface area.
All of these make the project one of the most attractive products in the Hanoi apartment market at the present time.
