Real Estate

₫6 Billion Still Falls Short for Buying an Apartment in Hanoi

Owning a 2-bedroom apartment in the city center for just 6 billion VND seems like a dream come true, but the reality is far more challenging than it appears.

Administrator

13 November, 2025

Seeking to purchase an apartment in Hanoi, Ms. Nguyen Thi Thuy (from Ninh Binh) once thought that with 3 billion VND, buying a home would be challenging, but 6 billion VND would make it easier. However, reality proved otherwise. “I’m looking for a 2-bedroom commercial apartment, around 70 sqm, in districts like Cau Giay or Thanh Xuan, but even with 6 billion VND, there are no suitable options,” Ms. Thuy shared.

In reality, prices for commercial apartments in Hanoi’s central districts have surged, particularly for 2-bedroom units around 70 sqm. Such apartments typically start at 7 billion VND or higher, far exceeding Ms. Thuy’s 6 billion VND budget.

In the former Cau Giay district, current apartment prices range from 130 to 180 million VND/sqm, depending on location, handover quality, and developer reputation. Projects along major roads like Tran Duy Hung, Xuan Thuy, Duong Dinh Nghe, and Pham Hung command higher prices, especially for units with prime floor levels and expansive views.

Apartment prices remain high. Photo: Hoang Ha

For instance, on Tran Duy Hung Street, resale prices hover around 100-120 million VND/sqm. For a 70 sqm unit, this translates to approximately 7 billion VND or more. In the Xuan Thuy area, a 2-bedroom, 2-bathroom apartment of about 80 sqm is listed at 7.5 billion VND.

Despite many projects having been handed over and occupied for years, prices remain high, even showing slight increases due to central locations, completed infrastructure, and strong real demand. This makes finding a 2-bedroom, 70 sqm apartment within a 6 billion VND budget in these areas increasingly difficult.

In the Minh Khai area, Mr. Nguyen Van Trung (from Hai Ba Trung district) is also searching for an apartment but has yet to finalize a purchase. Upon surveying the market, he realized that apartment prices in this area have skyrocketed. Many projects now exceed 100 million VND/sqm, making it challenging for Mr. Trung to find a suitable unit within his 6 billion VND budget, which he initially thought was ample.

Prices for older apartments in this area are also high, ranging from 95 to 130 million VND/sqm. For example, Imperia Sky Garden is priced at 105-120 million VND/sqm, Hoa Binh Green City at 105-120 million VND/sqm, Green Pearl at 95-105 million VND/sqm, and Hinode City at 110-130 million VND/sqm. Most apartments in this area were handed over about 10 years ago, with some facilities beginning to deteriorate.

Rising Apartment Prices

A survey of the central apartment market reveals that due to limited supply, prices continue to climb. Mr. Tuan, a real estate agent, notes that while many potential buyers tour properties, most are only researching prices and market trends, with few committing to purchases immediately. High prices force buyers to carefully consider their investments.

According to Ms. Do Thu Hang, Senior Director of Consulting and Research at Savills Hanoi, current apartment prices are at a high threshold, somewhat narrowing real demand. Among buyers, genuine homeowners remain present, but investors still dominate the market.

Savills Vietnam’s Q3/2025 market report indicates that average primary selling prices have reached 101 million VND/sqm. In the secondary market, apartment prices have risen by an average of 39% year-on-year, with several areas emerging as new “hotspots” despite legal and credit market fluctuations over the past three years.

Projects in inner-city districts like Cau Giay, Thanh Xuan, and former Hai Ba Trung start at over 100 million VND/sqm, while more upscale projects range from 130 to 180 million VND/sqm. A 2-bedroom, 70 sqm apartment costs at least 7 billion VND, and 3-bedroom units can reach 10-12 billion VND. This makes finding a mid-range apartment in Hanoi increasingly challenging.

With inner-city housing prices remaining high and accessibility limited, the market is witnessing a shift in demand toward outlying areas.

According to Ms. Hang, this trend is evident as land in the inner city becomes scarce. Even areas near Ring Road 2 and Ring Road 3 have nearly no remaining land for new projects. This shift is further driven by population decentralization policies and infrastructure development plans outlined in the Adjusted Hanoi Capital Planning Scheme.

Duy Anh

– 05:45 09/11/2025