Completed in 2016, Dai Kim Building in Dinh Cong Ward, Hanoi, initially offered apartments ranging from 60–80 m² at just 15 million VND/m². Nearly a decade later, resale prices now fluctuate between 68–80 million VND/m², with premium units on higher floors or with lake views reaching up to 90 million VND/m²—equivalent to 5 billion VND for a 70 m² apartment.
The project’s prime location drives its price surge. Situated near schools, hospitals, and major transportation routes like Ring Road 2.5, Ring Road 3, Giai Phong Street, and Nguyen Trai Street, Dai Kim Building is just 7 km from the city center. This accessibility enhances both resident convenience and property value.
Despite its distance from the city center, IEC Thanh Tri has also seen significant growth. Completed a few years ago with a starting price of 15 million VND/m², its 60–70 m² apartments now sell for 50–57 million VND/m², or 3–3.8 billion VND per unit.
Rice City Linh Dam in Hoang Liet Ward, originally priced at 18–20 million VND/m², now commands 70–80 million VND/m² on the secondary market. Units here are listed between 4.9–5.5 billion VND. Its proximity to Linh Dam Lake, well-developed infrastructure, and limited supply have driven prices up three to fourfold in just a few years.
Hope Residence in Viet Hung Ward follows a similar trend. From an initial price of 2 billion VND per unit in early 2024, it has risen to 3.8–4.3 billion VND. Nearby Thach Ban project has also increased from 2.1 billion VND to 3.9–4.2 billion VND per unit. This surge is attributed to rapid urbanization, Hanoi’s growing population, limited new social housing supply (only a few thousand units annually), and rising construction costs.
Social housing prices on the secondary market now rival those of luxury properties, creating a notable paradox. Dai Kim Building’s listings at 90 million VND/m² approach those of The Ninety Complex (92.1–114.6 million VND/m²), a high-end project featuring amenities like a swimming pool and gym.
Similarly, Rice City Linh Dam’s 70–80 million VND/m² matches The Charm An Hung in Ha Dong (72–80 million VND/m²), known for its European design and green spaces. However, social housing often lacks the quality and location advantages of luxury projects, leaving buyers with less value for their investment.
Recently, hundreds lined up—some overnight—to submit applications for the CT3 and CT4 social housing projects in Kim Chung, Thien Loc Commune. With a tentative price of 18.4 million VND/m² (including VAT and maintenance fees), units range from 900 million to 1.3 billion VND, making them attractive compared to Hanoi’s broader housing market.
According to the Ministry of Construction, secondary market prices for condominiums and social housing have surged. Many 5–10-year-old social housing units now sell for 70–80 million VND/m², nearly matching commercial housing prices. This paradox makes social housing, intended for low-income earners, increasingly inaccessible.
In response, Hanoi is accelerating social housing projects with high determination. Between 2021–2025, the city aims to build tens of thousands of units for low- and middle-income residents. Numerous new projects have been approved, land funds expanded, and authorities are urging developers to expedite construction, resolve procedural bottlenecks, ensure supply, and maintain transparency in beneficiary selection.
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