“Once a Hot Property with 5,000 Buyers: Located on Hanoi’s Most Flood-Prone Street, Yet Prices Surge 1.5x in Just Over a Year”

Over a year since thousands clamored to secure spots at the launch event, resale prices for the Lumi Hanoi project have surged from approximately 65 million VND/m² to nearly 100 million VND/m². Presently, numerous buildings at the site are nearing completion, with both infrastructure and internal amenities being systematically finalized.

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Lumi Hanoi is one of CapitaLand’s premier developments in the western part of Hanoi. With a total investment of approximately VND 18,000 billion, the 5.6-hectare project features 9 towers ranging from 35 to 40 floors, housing nearly 4,000 apartments.

The project is part of the Vinhomes Smart City urban area.

Located along Thang Long Avenue, the project sits opposite Vinhomes Smart City and Geleximco Le Trong Tan.

However, this area is prone to severe flooding during the rainy season, with water levels often reaching 0.6 to 0.8 meters on both sides of the road and the avenue. (Photo: Tien Phong)

During the first sales event in April 2024, approximately 5,000 customers arrived early to register, with nearly 2,000 apartments sold on the first morning. Starting at VND 66 million/m², prices have since risen to VND 90–95 million/m², depending on floor and orientation.

According to Ms. Pham Trinh, a project agent, an 81m² southeast-facing unit is priced at approximately VND 7.24 billion (around VND 90 million/m²), while a 62m² unit is listed at VND 5.93 billion (about VND 96 million/m²), excluding interior fittings.

Amenities include playgrounds, a year-round swimming pool, sports facilities, a gym, and landscaped walkways. The podium features a shopping center and shophouses catering to residents.

On-site, several towers have completed structural work and are nearing topping-out. The commercial podium, technical floors, and landscaping are under simultaneous construction. Hundreds of workers and machinery operate continuously to meet handover deadlines.

Internal roads are largely complete, with surrounding areas paved, sidewalks installed, greenery planted, and street lighting in place.

The elevated parking area is also being expedited by the developer.

Upon completion, the project is expected to significantly boost the supply of high-end apartments in Hanoi.

Nearby, The Sola Park within Vinhomes Smart City, developed by MIK Group, comprises 5 towers of approximately 35–39 floors, totaling around 4,500 units. Residents enjoy access to Smart City amenities such as parks, schools, and a shopping center.

Currently, three towers are nearly complete, while the remaining two are under construction alongside internal infrastructure. The first tower was topped out on April 29, 2025, marking a key milestone.

According to Batdongsan.com.vn, current listing prices in Vinhomes Smart City range from VND 90 million/m², varying by location, floor, and orientation.

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