Explosive Housing Supply Surge Fails to Curb Soaring Prices

The Hanoi Department of Construction has recently unveiled a list of 33 eligible projects for sale, comprising over 30,300 units in total. This includes 24,600 apartments and 5,700 low-rise residences.

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Over 30,000 New Apartments and Homes

According to this list, the project with the largest number of units for sale is the complex of U38, L30M-1, L30M-2, Z30-1, and Z30-2 apartment buildings in land plot B1-CT01 of Gia Lâm Urban Area, totaling 3,144 apartments. This is part of Vinhomes Ocean Park 1, developed by SV Real Estate Investment and Business Development Joint Stock Company.

Also within Vinhomes Ocean Park 1, several other projects with thousands of eligible units for sale include Z34, U38, and U38A apartments in land plot B6-CT01 by Viet An Trading and Commercial Development LLC, totaling 2,461 units. U37A, U38A (B6-CT02), and U37 (B6-CT03) by Binh Minh Business Development and Investment JSC offer 2,176 units, while SV Real Estate’s U26A, T26M, and Z30 in land plot B4-CT01 add another 1,733 units to the market.

33 additional projects in Hanoi approved for sale, totaling over 30,300 units. Photo: H.Quân.

In the new Tay Mo – Dai Mo Urban Area (Vinhomes Park), two large-scale projects include Z38.1, Z38.2, and Z38M.1 in land plot F3-CH04 by HBI JSC with 1,836 units, and U39-HH1, U39-HH2 in land plots F2-HH01, F2-HH02, and F2-CX01 by Tay Ha Noi Real Estate Business Development JSC with 1,488 units.

In the western part of the city, Nam Thang Long Urban Area (Ciputra) Phase II includes three low-rise housing projects approved for sale. These are 234 units in land plots TT-01 to TT-19, CX-01 to CX-04; 175 units in TT-20 to TT-37, CX-05; and 75 units in zone A of land plot I.C41, all developed by Nam Thang Long Urban Area Development LLC.

Other notable projects include Kepler Land’s twin towers (1,280 units) in Mo Lao Urban Area by TSQ Vietnam; CT2 high-rise in DM1 urban function zone by FLC Group (410 units); and towers E and F in Tay Ho Tay Urban Center (Starlake) with 284 units by THT Development LLC.

In the low-rise segment, Sunshine Grand Capital by DIA Investment JSC offers 2,301 units. Vingroup adds 2,279 low-rise units in zones A, B, C, D, E, and F of Green City (former Dan Phuong district). Smaller projects include 36 low-rise units in Nam Ring Road 3 Urban Area (The Manor Central Park) by Bitexco JSC and 84 eco-villas in Yen Binh commune, former Thach That district, by Xuan Cau Holdings JSC.

Home Prices Unlikely to Drop

According to Savills, Hanoi’s apartment market remained stable in 2025, supported by improved infrastructure, planning reforms, and strong demand.

Savills forecasts that from the second half of 2025 to 2027, 58,100 units from 58 projects will enter the market.

Commenting on the surge in Hanoi’s apartment supply, Do Thu Hang, Director of Consulting and Research at Savills, noted that supply will concentrate in large projects away from the city center.

“Despite the supply surge, prices won’t drop across the entire market. Central projects will remain expensive due to limited supply and high profit expectations. Peripheral projects will offer more reasonable prices,” Hang said.

According to the Ministry of Construction, in Q2/2025, Hanoi’s average apartment price reached 80 million VND/m², up 5.6% from the previous quarter—the highest in nearly a decade, matching Ho Chi Minh City levels.

Some projects saw price increases of 5% to over 6% in Q2. For example, Diamond Park Plaza reached 142 million VND/m² (up 6.1%), Chelsea Residences 103 million VND/m² (up 5.2%), and Indochina Plaza 109 million VND/m² (up 5.3%). Luxury projects like Noble Crystal ranged from 160 to 270 million VND/m², The Nelson Private Residences from 120 to 180 million VND/m², The Matrix One from 120 to 150 million VND/m², and Endless Skyline West Lake from 120 to 150 million VND/m².

Low-rise homes also saw strong price increases in Q2. Villas and townhouses in high-end urban areas maintained very high prices. At Vinhomes Global Gate, transactions ranged from 300 to 350 million VND/m². Ciputra Hanoi reached 356 to 369 million VND/m², and Dich Vong New Urban Area ranged from 270 to 283 million VND/m².

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