Hanoi (VNS/VNA) - The Hanoi real estate market continues to heat up in the second quarter (Q2) of 2025, driven by a surge in high-end condominium supply, while mid-range apartments gradually lose prominence.
In a report on the capital city's property market in Q2 2025 published on July 10, CBRE experts revealed that nearly 6,850 new apartment units were put on the market in Q2, almost doubling the supply from the first quarter.
This strong momentum resulted in the introduction of over 10,760 new units in the first half, marking the second highest half-year supply volume in the past five years, just behind the same period in 2024.
What stands out this quarter was the exclusive focus on high-end projects, with all new offerings priced above 70 million VND (2,682 USD) per sq.m (excluding VAT, maintenance fees and discounts). This new supply structure has driven the average primary price up by 6% quarter-on-quarter and an impressive 33% year-on-year.
Traditionally more affordable areas such as Ha Dong and Hoang Mai, where prices typically hovered between 40 to 50 million VND per sq.m, also saw new developments priced above 70 million VND, showcasing the market’s upward trajectory.
The average primary apartment price even climbed to 79 million VND per sq.m at the end of the second quarter.
Meanwhile, secondary market prices have remained relatively stable, averaging around 50 million VND per sq.m, with only modest increases of 1% quarter-on-quarter and 15% year-on-year, significantly lower than last year’s peak growth of 26 %.
In terms of sales activity, the primary market saw nearly 5,180 apartments transacted in Q2, pushing the total units sold in the first half of the year to approximately 9,130.
Although this reflects a 31% increase compared to Q1, sales volume is down 27% from the same period last year. The absorption rate for new projects averaged about 60%, a slight decrease from 70% in 2024.
Looking ahead, 2025 is expected to remain an active year for real estate investors. Numerous projects are in the pipeline, particularly in Hanoi’s northern and eastern areas, buoyed by infrastructure improvements such as the completion of new bridges over the Red River — Tu Lien, Tran Hung Dao and Ngoc Hoi — which are boosting connectivity and buyer interest.
Additionally, several previously stalled projects in central areas like Cau Giay, Tay Ho, Hoang Mai and Long Bien are poised to resume sales in the latter half of the year, offering homebuyers more choices. The total supply for the year could reach or even surpass 31,000 units, rivaling the 2024 figures.
Senior Director of the Hanoi Branch at CBRE Vietnam Nguyen Hoai An said: “The influx of high-priced supply will intensify competition among projects and investors. Buyers will have more options regarding location and price, but will also become more discerning, demanding higher product quality, services and amenities to match their investment.”
Meanwhile, the landed property market also demonstrated notable activity in Q2. Over 1,000 low-rise homes were introduced, marking a 32% decrease from Q1 but still five times greater than the same quarter last year.
The first half of 2025 saw more than 2,500 new units put on the market, nearly nine times higher than the first half of 2024, although this remains under half the supply from the latter half of 2024.
The number of new projects increased despite the dip in units, with five new developments emerging in diverse locations including Tay Ho, Long Bien, Gia Lam and Dan Phuong. This expansion highlights a broadening development footprint and growing investor interest.
Primary prices for low-rise homes edged up 1.5% quarter-on-quarter to an average of around 230 VND million per sq.m of land (excluding VAT, maintenance fees and discounts).
The presence of projects closer to the city centre and in varied locations helped lift price levels, with many offerings priced above 200 million VND per sq.m.
Transaction volumes for land-attached properties exceeded 2,600 units in Q2, outpacing new launches and indicating strong, sustained demand.
For the full year, Hanoi’s low-rise supply is forecast to surpass 6,300 units, with nearly 3,800 expected in the second half alone.
The restart of several long-paused projects and planned new phases reflects investor confidence and anticipation of continued buyer interest./.
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