Located just 4-6km from Hoan Kiem Lake, several streets in Hanoi have recently seen townhouse prices surge past 1 billion VND per square meter. This price level was previously only seen in the Old Quarter. Notable streets include: Xa Dan, Chua Boc, Thai Ha, Lang Ha, and Huynh Thuc Khang.
On Xa Dan Street, approximately 4km from the Old Quarter, a 150m² townhouse is listed at 170 billion VND (1.13 billion VND/m²). Another 60m² property is priced at 63 billion VND (1.05 billion VND/m²). Just a year ago, top prices on this street were 700-800 million VND/m².
On Chua Boc Street, townhouses are now listed between 950 million VND and over 1 billion VND per square meter. Over a year ago, prices here were mainly 720-810 million VND/m². One 89m² property is currently listed at 106 billion VND (1.19 billion VND/m²).
Known as Hanoi’s “Fashion Street,” Chua Boc Street commands high rental rates. It’s densely packed with clothing, handbag, footwear, and accessory shops, making it a shopping paradise for Hanoi’s youth.
On Thai Ha Street, parallel to Chua Boc, a 26m², 5-story townhouse is listed at 24.5 billion VND (nearly 1 billion VND/m²). Another 70m², 6-story property is priced at 72 billion VND (1.03 billion VND/m²).
Thai Ha Street is a tech hub, lined with electronics stores catering to tech enthusiasts.
On Huynh Thuc Khang Street (6km from Hoan Kiem Lake), an 85m² townhouse is listed at 115 billion VND (1.35 billion VND/m²). A 105m², 9-story property with an 18-meter frontage is priced at 105 billion VND (1 billion VND/m²).
On Lang Ha Street, a 242m², 12-story townhouse is listed at 259.9 billion VND (1.07 billion VND/m²), an unprecedented price for this area.
In Hanoi’s Old Quarter, known as “diamond land,” some townhouses are listed at nearly 3 billion VND/m². A 132m², 10-story property on Bao Khanh Street (near Hoan Kiem Lake) is priced at 380 billion VND (2.88 billion VND/m²). The seller notes its prime location and current use as a hotel.
The emergence of streets in Hanoi with townhouse prices exceeding 1 billion VND/m²—and even nearing 3 billion VND/m²—has stunned both investors and residents. However, many believe these are sellers’ aspirational prices, and market acceptance remains uncertain.
Quiet and peaceful streets of Hanoi on the first day of the new year.
On the early morning of January 1st, many people woke up early to embrace the peaceful and fresh atmosphere of the first day of the new lunar year, Giap Thin 2024.
