CBRE Vietnam has released its Q4 2025 market highlights for Hanoi’s real estate sector. In the apartment segment, Hanoi saw the launch of 14,905 new units, bringing the total new supply for the year to nearly 36,000 units. This marks the second-highest annual launch volume ever recorded in Hanoi’s apartment market, surpassed only by 2019.
Notably, this year also witnessed a record-breaking launch volume in the high-end segment, with nearly 4,000 units priced above VND 120 million/m² (excluding VAT, maintenance fees, and pre-discounts), accounting for 11% of the year’s total launches.
Another prominent trend observed in Q4 2025 was the significant supply contribution from mega-urban areas in Van Giang (Hung Yen, bordering Hanoi). New launches in this area accounted for over 60% of the quarter’s total supply and nearly 40% of Hanoi’s annual supply in 2025.
Hanoi recorded 14,905 newly launched apartments in Q4 2025.
Demand remained robust despite the strong new supply. Total sales in Q4 2025 exceeded 13,500 units, bringing the annual total to 34,760 units. Newly launched projects in the final quarter achieved an average absorption rate of 79%. Although slightly lower than the previous quarter, this rate still demonstrates the primary market’s stable absorption capacity amidst abundant new supply.
Price movements revealed a clear divergence between inner-city and suburban areas. The average primary price in Q4 2025 reached over VND 78 million/m² (excluding VAT, maintenance fees, and pre-discounts), 14% lower than Q3 but still 8% higher year-on-year. This trend was driven by a large supply of suburban units priced between VND 50-60 million/m². Meanwhile, new projects in Hanoi’s inner districts maintained prices ranging from VND 90-100 million/m².
Primary apartment prices in Q4 2025 averaged over VND 78 million/m².
In the secondary market, average prices in Q4 remained virtually unchanged from Q3 at VND 62 million/m². Year-on-year growth slowed to 24%, down from the peak of 26% in Q3. This cooling occurred towards year-end, attributed to factors such as the substantial price increases in previous quarters, abundant primary supply attracting buyer capital, and initial buyer reactions to rising interest rates.
Hanoi’s apartment market in 2026 is expected to see new supply of approximately 33,000 units, nearly matching 2025 levels. Primary prices are projected to stabilize due to strong supply, competitive pricing from Van Giang projects, and high-priced inner-city developments. Meanwhile, secondary prices may face pressure from rising interest rates and future abundant supply.
Ms. Nguyen Hoai An, Senior Director of CBRE Vietnam’s Hanoi branch, believes that infrastructure development remains a key driver for new real estate projects.
Ms. Nguyen Hoai An, Senior Director of CBRE Vietnam’s Hanoi branch, commented: “Infrastructure development, particularly in transportation, continues to be a crucial driver for new real estate projects, including many large-scale ones. Amidst evolving macro conditions and market competition, developers are expected to thoroughly prepare their investments, ensuring suitable financial, business, and product strategies to effectively adapt to each phase of market fluctuations.”
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