Have apartment prices in Hanoi cooled down?

SKĐS - Gone are the days of buyers scrambling to make purchases; the Hanoi apartment market is witnessing a notable change as many homeowners are proactively lowering prices, even reducing them by up to half a billion dong after months of failing to find buyers.

There have been cases of price reductions of several hundred million dong.

A survey of several apartment projects that have been operational for many years in Ha Dong district, Hanoi, shows that recently many homeowners have adjusted their selling prices after months of advertising without finding buyers.

Mr. Hung, the owner of a nearly 80 square meter apartment in the Ha Dong area, said that at the beginning of 2026 he put the apartment up for sale at 5.4 billion VND. However, after nearly three months without any transactions, he had to lower the price to 5.1 billion VND, but currently very few people have come to view the property.

"I bought this apartment a few years ago for a much lower price. Even with a 300 million VND reduction compared to the initial asking price, I would still make a profit if I could sell it at the current price. The important thing is finding a genuine buyer, because the market is no longer as vibrant as before," Mr. Hung shared.

Buyers always compare prices to find the most suitable apartment. (Screenshot)

Not only Mr. Hung, but many other homeowners have also accepted price reductions of hundreds of millions of dong compared to the asking price a few months ago to increase the chances of a sale.

Ms. Giang, a resident living in an apartment building in the Ha Dong area (Hanoi), said that recently, some apartments have seen significant price reductions after a long period of searching for buyers.

"A few months ago, an apartment in my building was listed for sale by the owner for about 5.4 billion VND. However, the price has now dropped to around 4.85 billion VND, but they are still looking for a buyer," Ms. Giang shared.

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According to Ms. Giang, although apartment prices remain high, the continuous price increases seen previously have slowed down. Many homeowners who genuinely need to sell or recover their capital are now accepting price reductions of several hundred million dong to expedite transactions.

According to our findings, price adjustments are not only being observed in the Ha Dong area, but also in other areas of Hanoi such as Thanh Tri, Dong Anh, and suburban areas.

Primary market apartment prices remain high, while secondary market prices are adjusting downwards.

According to Ms. Trang, a real estate agent specializing in apartment sales in Hanoi, the market still sees some interested buyers, but the purchasing sentiment has become more cautious compared to the previous period. Buyers no longer tend to "spend money quickly" but instead spend more time comparing prices between projects, especially between newly launched apartments and used apartments.

"About a year ago, many apartments were put down as soon as they were listed for sale. But now, more people are viewing them, asking more detailed questions, but they are slow to make decisions. They often expect the price to be adjusted further, so negotiations are much more thorough than before," Ms. Trang said.

The fact that some apartments have seen price reductions does not mean that apartment prices in Hanoi are plummeting. (Illustrative photo: Quynh Mai)

Meanwhile, Le Manh Cuong, a long-time real estate broker in western Hanoi, believes that the apartment market is clearly differentiating between the primary (buying directly from the developer) and secondary (used) segments. According to him, while new projects launched by developers maintain high prices, even setting new price levels in some areas, the resale market is beginning to show signs of adjustment.

"Many homeowners are still trying to maintain prices at the level of the previous period, but for properties that need to be sold quickly or have been listed for a long time without finding buyers, a reduction of several hundred million dong is quite common," Mr. Cuong said.

Mr. Cuong also believes that the market no longer experiences the intense competition for purchases seen in the 2024-2025 period. Instead, there is a tug-of-war between buyers and sellers, with buyers having more options from both primary and secondary markets, while sellers must be more flexible with pricing to ensure liquidity.

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However, according to real estate agents, the price reduction in some apartments does not necessarily mean that Hanoi's apartment prices are plummeting. New supply in many areas still hasn't fully met the demand for housing, while land, construction, and financing costs remain high. Therefore, the current prevailing trend is for prices to remain stable or to adjust locally in apartments that need to be sold urgently, rather than a widespread price drop.

"Buyers have an added negotiating advantage, but a sharp drop in prices in the short term is unlikely," said Thuong, a long-time real estate agent in Hanoi.

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Source: https://suckhoedoisong.vn/gia-can-ho-chung-cu-tai-ha-noi-da-ha-nhiet-169260624101814908.htm