“VNREA Calls for Stable Real Estate Market and Control of Housing Prices in Vietnam”
The Vietnam Real Estate Association (VNREA) has recently issued a directive to its affiliates, members, and corporate members to address the Vietnamese Prime Minister’s instructions on controlling prices and stabilizing the real estate market.
According to Dr. Nguyen Van Khoi, Chairman of VNREA, the real estate market has been under significant strain due to an imbalance in supply and demand, particularly a lack of affordable housing options.
Statistics from the Vietnam Institute of Real Estate Research reveal that the average household income in major cities like Hanoi and Ho Chi Minh City can only afford about 30-40% of the value of a typical commercial apartment.
Mr. Khoi warns that without strong and timely measures, rising real estate prices will further erode affordability for locals, directly impacting social welfare and sustainable economic growth.
 Hanoi apartment prices stabilize but remain high. Photo: Hong Khanh |
VNREA calls on its member businesses to demonstrate their role as the market’s core force, not only in project development but also in upholding business ethics, protecting the interests of the people, and ensuring market stability.
These enterprises are urged to strictly adhere to the law and the government’s directives, especially when determining selling prices, raising capital, disclosing information, and maintaining market transparency.
Notably, the VNREA Chairman requests that businesses refrain from exploiting the scarcity of supply to manipulate selling prices, create artificial prices, or disseminate unverified information to stimulate speculation, profiteering, and market disruption.
“Any act of unreasonable price increases, far exceeding the actual value of real estate, will be condemned and subject to strict handling in accordance with the law,” VNREA emphasizes.
According to the Ministry of Construction’s Q1/2025 report, apartment prices in Hanoi and Ho Chi Minh City have stabilized and are no longer surging as they did in 2024.
In Hanoi, after several consecutive quarters of increases, apartment prices have become more stable. However, despite the cooling market, apartment prices in Hanoi remain high.
Market observations show that asking prices typically start from VND 50 million per square meter upward, and there are hardly any affordable apartments below VND 45 million per square meter.
Data from Savills Vietnam, which surveyed over 400 projects, indicates that the average secondary apartment price in Q1/2025 was around VND 60 million per square meter, a slight 1% decrease from the previous quarter, depending on the project.
Surveys of real estate listing websites also noted that the Hanoi apartment market began to stabilize towards the end of 2024. Selling prices and transaction volumes in many projects decreased slightly. Compared to the peak at the beginning of 2024, several projects have reduced prices by 2-5%.
By Hong Khanh
– 2:19 PM, June 4, 2025
