Hanoi’s Historic Streetfront Property Prices Surpass $43,000 per Square Meter
Hanoi’s real estate market is witnessing a remarkable surge in property prices, with many central streets seeing values exceed $43,000 per square meter (equivalent to over 1 billion VND/m²). Market surveys reveal that streets such as Hang Ga, Cau Go, Hang Bong, Hang Ngang, Hang Duong, and Ha Trung are listing properties at this unprecedented level.
On Hang Buom Street, a prime 101m², 8-story building is listed at $5.2 million (130 billion VND), averaging $43,000/m². Its prime location in the bustling Old Quarter, currently operating as a hotel and service shop, justifies its premium valuation.
Similarly, an 8-story, 100m² property on Cau Go Street is priced at $4.7 million (118 billion VND), or $42,000/m². Its value stems from its thriving hotel business and central location, attracting international visitors and commercial activity.
Another standout is a 370m² property on Hang Bong Street, listed at $31 million (777 billion VND), averaging $84,000/m². This corner-lot building’s strategic position and potential for commercial use or repurposing have driven its record-breaking price.
 Soaring prices in Hanoi’s Old Quarter. Photo: Anh Dũng |
Compared to 2018-2019, when prices in the Old Quarter ranged from $16,000 to $28,000/m², current values have doubled or tripled on streets like Hang Bong, Hang Buom, and Hang Gai. This growth rivals or surpasses major Southeast Asian cities.
Beyond the Old Quarter, major commercial arteries such as Xa Dan, Huynh Thuc Khang, Lang Ha, Thai Ha, and Chua Boc are also nearing or exceeding $43,000/m². A dual-frontage, 85m² property on Huynh Thuc Khang Street is listed at $4.6 million (115 billion VND), averaging $54,000/m².
On Lang Ha Street, a 100m² corner property is priced at $4.2 million (105 billion VND), or $42,000/m². A nearby 88m² property on Thai Ha Street is listed at the same total price, averaging $40,000/m². Chua Boc Street properties range from $44,000 to $60,000/m².
West Lake-adjacent properties are also hitting $43,000/m², with some surpassing Old Quarter prices. Prime plots on Quang An and Yen Phu Streets are listed between $3.6 million and $4.8 million for 80-100m².
High Prices, Low Liquidity
Real estate expert Nguyen Dung Minh attributes these record prices to the extreme scarcity of core urban land. Most high-value streets are in the Old Quarter or near Hoan Kiem Lake, with virtually no expansion opportunities. This limited supply has driven prices to historic highs.
Beyond scarcity, these properties offer superior commercial value. Centrally located buildings serve as both residences and income generators through businesses, rentals, or branded retail. Monthly rents can reach $60,000, providing stable, long-term cash flow.
In an era of inflation and financial volatility, prime urban real estate has become a safe-haven asset for investors. Market expectations and price anchoring further fuel the rise: a single $43,000/m² transaction sets a new benchmark for the area, reinforcing the “scarcer the land, higher the price” mindset, even during market slowdowns.
However, Minh notes the segment’s extremely low liquidity. With prices in the tens of millions of dollars, few investors can afford transactions. Most listings are market tests, while actual sales can take months or years, limiting market flexibility.
“Current rental yields of 2-3% may seem low, but many investors expect long-term appreciation over 5-10 years. This is a safe, long-term investment, not short-term speculation,” Minh explains.
Duy Anh
– 05:45 07/10/2025
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