The Capital’s Outlook: Apartment Prices Predicted to Rise Steadily Until Year-End

According to a report by Batdongsan.com.vn, the level of interest in Hanoi’s condo market increased by 13% after Tet, with a 20% rise in listings. By March 2025, the average asking price in the primary market reached VND 63 million/m2.

A series of new projects in the outlying districts have recorded high prices. In Gia Lam, Masteri Lakeside is listed at VND 65-70 million/m2, while The Paris is priced at around VND 60-65 million/m2. In Dong Anh district, the Imperia Signature Co Loa project offers units from VND 90-100 million/m2.

In Tay Ho district, Noble Crystal sets a record price range of VND 160-270 million/m2. Nam Tu Liem and Ba Dinh districts also see prices ranging from VND 90-170 million/m2. The current primary market price level is about 5-10% higher than the previous quarter. Nonetheless, liquidity remains relatively healthy, with absorption rates of 40-60% per launch. Projects priced above VND 150 million/m2 tend to sell at a slower pace.

For the remaining quarters of 2025, the new condo supply is expected to comprise 7,400 units, with Class B leading the market, accounting for 67%. Notably, in the second quarter of 2025, several projects are anticipated to launch new sales or continue their previous phases, boasting prime locations, reputable developers, and high-quality construction. These projects are expected to offer competitive prices, possibly hovering around VND 100 million/m2.

A range of projects are scheduled for launch in the second quarter, including The Ninety Complex, HH3 – Imperia Signature Co Loa, Noble Crystal, The Matrix, and TIG Tower Office. Notably, the market will also witness the introduction of the premium condo project, Hausman, located within the FLC Premier Parc urban area in Nam Tu Liem district.

Hausman, conveniently located on the bustling Le Quang Dao and the new Road 70, comprises three buildings with 410 apartments and three basement levels. According to the developer, Hausman condos are expected to be introduced to the market at prices ranging from VND 110-120 million/m2, while projects in the same area are currently priced above VND 130 million/m2.

Commenting on the primary condo price outlook for the second quarter of 2025, Ms. Do Thu Hang, Senior Director of Savills Hanoi’s Advisory and Research department, opined that a price reduction is unlikely. Instead, she anticipated a slight price increase, ruling out the possibility of a market frenzy as witnessed in previous periods.

Sharing this viewpoint, Dr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association (VARS), forecasted that residential supply would continue to grow this year, mainly driven by large urban areas in outlying districts. He estimated that the real estate supply in Hanoi and its satellite cities would reach approximately 37,000 units.

“The supply of condos in Hanoi has increased recently but has not yet met the demand of its residents,” said Dr. Dinh. “Moreover, most of the new supply continues to be developed to high standards, resulting in higher investment and land costs.”

Dr. Dinh also attributed the high investment costs to the developers’ expectations of higher profits. Consequently, it is challenging to reduce primary market condo prices. The increase in primary market prices has a ripple effect on the secondary market, pushing those prices upward as well.