HANOI APARTMENT MARKET
SUPPLY: SUBURBAN AREAS CONTINUED TO DOMINATE THE SUPPLY
In Q1 2025, Hanoi experienced a significant decline in new apartment supply, with over 5,300 units launched, representing a 52% decrease QoQ but a 68% increase YoY. The reduction in supply can be partly attributed to the impact of New Year’s Eve and Lunar New Year celebrations, prompting most developers to schedule their project launches in March. Suburban areas continued to dominate the new supply with 82%. Most new supply originated from integrated townships, such as Vinhomes Ocean Park and Vinhomes Global Gate. The recent interest rate reductions by the Bank have significantly contributed to the growth of the real estate market since 2024. Notably, BIDV Bank has introduced a loan policy with an annual interest rate of 5.5%, fixed for three years.
DEMAND: A SLIGHT DECREASE WAS SEEN
In Q1 2025, Hanoi recorded the sale of over 4,300 apartments, representing a 53% decrease QoQ but a 24% increase YoY. The absorption rate tended to slow down due to customer sentiment being impacted by the rapid price increase in Q4 2024, as well as the challenging global economic situation, including Vietnam. Furthermore, Government policies and plans to support loan interest rates from banks to stabilize the real estate market have led to a cautious approach among individual investors regarding market developments.
PRICING: AVERAGE PRIMARY PRICE CONTINUED TO RISE
The average primary price reached approximately US$ 3,221 per square meter, up 12% QoQ and 38% YoY. This continuous rise is mainly driven by the growing supply of high-end and luxury segments, which made up over 77% of the new supply. Meanwhile, the availability of affordable apartments remains limited.
OUTLOOK: DEVELOPMENT TRENDS IN CITY OUTSKIRTS
In 9M 2025, around 14,500 new housing units are expected to be launched, mainly in suburban areas like Gia Lam, Dong Anh and Hoang Mai District. Suburban districts will lead in new supply due to ongoing infrastructure development and urban planning. Dong Anh, Gia Lam, Hoai Duc and Thanh Tri are set to become urban districts, significantly boosting housing supply with major projects like Vinhomes Global Gate and BRG Smart City.
HANOI LANDED PROPERTY MARKET
SUPPLY: THE MARKET CONTINUED WELCOME NEW INTEGRATED TOWNSHIP IN SUBURBAN AREAS
In Q1 2025, Hanoi welcomed over 720 new units, marking a 57% decline QoQ but an 887% surge YoY. The majority of this new supply was predominantly driven by the launch of a new integrated township project in Dan Phuong District, which accounted for 55% of the total. Suburban areas continued to dominate the landed property market with 100% proportion.
DEMAND: GREAT ABSORPTION WAS SEEN IN TOWNSHIP PROJECTS
In the first quarter of 2025, Hanoi's landed property market recorded the sale of 1,726 units, indicating a 93% QoQ and a 136% rise YoY. The majority of these sales were attributed to the launch of township projects in Dong Anh District and Dan Phuong District, which boast a prime location, clear legal status, and a reputable developer. Additionally, other suburban districts such as Ha Dong, Hoang Mai, and Thuong Tin demonstrated strong absorption rates.
PRICING: A SLIGHT INCREASE IN AVERAGE PRIMARY PRICE
The average primary price reached US$ 12,427 per square meter in Q1 2025, up 4% QoQ and 74% YoY. Such increase was driven by the the great absortption of the integrated township projects which were developed by Vinhomes in Dong Anh and Dan Phuong District and provided clear legal status, prime location connected easily to the city center through planned infrastructure.
OUTLOOK: SUBURBAN AREAS WILL LEAD THE FUTURE SUPPLY
In 9M 2025, it is projected that over 3,700 units will be launched. Over the subsequent three years, approximately 8,200 units are expected to enter the market. Due to limited land availability, the Central Business District (CBD) and Secondary submarkets will see no new supply, while the Western region will face a scarcity of supply. Future developments are anticipated to shift towards suburban areas, which offer larger land reserves and increasingly developed infrastructure connectivity to the central metropolis.
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