Hanoi leads the real estate recovery.

The Hanoi real estate market in the third quarter recorded strong growth with retail rental prices increasing by 3%, shopping mall occupancy reaching 85%, over 7,300 apartments sold, and serviced apartments achieving an 87% occupancy rate.

Hanoi leads the real estate recovery. Source: ITN

According to Savills Vietnam's Q3/2025 report, the Hanoi retail market continues to thrive with simultaneous increases in both occupancy rates and rental prices.

Total supply reached 1.8 million m² of floor space, with shopping malls remaining dominant. Occupancy rates increased by 1 percentage point year-on-year, reaching 85%, thanks to shopping malls flexibly repositioning their business models and focusing on younger customer segments.

Ground floor rental prices across all districts increased by an average of 3%, reaching VND 1.3 million/m²/month. The central area recorded the highest increase, while suburban areas such as Cau Giay, Thanh Xuan, and Ha Dong maintained stable growth. Thanks to increasingly improved transportation infrastructure – especially metro lines – these areas are gradually narrowing the rental price gap with the central area and becoming attractive destinations for many major brands.

Savills notes that the food, fashion , and lifestyle sectors continue to drive demand for new retail space, reflecting modern consumer trends and the younger generation's shift towards sustainable service experiences.

By the end of 2025, Hanoi is expected to add more than 84,000 m² of retail space from three new projects. Between 2026 and 2028, the supply could increase by approximately 330,000 m², primarily in the Starlake area. However, Savills warns that the large volume of handovers in 2027-2028 could increase competition and potentially lead to oversupply if projects lack sufficiently differentiated positioning strategies.

Alongside the recovery of the retail market, the Hanoi apartment segment also recorded positive developments. In Q3 2025, 6,300 new apartments were offered for sale – an increase year-on-year, although slightly lower than the previous quarter. The number of units sold reached 7,300, increasing both quarter-on-quarter and year-on-year, with an absorption rate of over 80%. Buyers increasingly prioritize new projects due to their modern design, comprehensive amenities, and flexible payment policies.

Primary market prices continue to rise, especially in the mid-range and high-end segments. In the first nine months of the year, apartments priced above 4 billion VND accounted for the majority of transactions, while the market had virtually no products priced below 2 billion VND. This shortage of affordable housing is expected to make satellite cities around Hanoi the "hotspot" for the housing market in the coming period.

To address the housing problem for middle and low-income earners, Hanoi is accelerating the implementation of social housing and worker housing projects, aiming to increase housing access and stabilize the market. In the fourth quarter of 2025, the market is expected to welcome approximately 8,900 new apartments, mainly in the B-segment.

According to Mathew Powell, Director of Savills Hanoi, the serviced apartment segment is also benefiting from the wave of foreign investment. Total supply reached nearly 6,400 units, with an average occupancy rate of 87%, a 1 percentage point increase quarter-on-quarter. Rental prices remained stable but increased by 4% year-on-year, with Class B apartments experiencing the smallest increase.

Savills reports that, following its administrative boundary expansion, Hanoi has risen to third place nationwide in attracting FDI, with a total registered capital of US$3.9 billion, behind only Bac Ninh and Ho Chi Minh City. This influx of capital has led to an increase in foreign professionals – the main customer group for the high-end serviced apartment market.

In the fourth quarter and the coming years, Hanoi will continue to witness a wave of new projects. Approximately 15 serviced apartment projects are expected to launch, providing over 2,200 units, mainly in the western area and secondary market. International brands account for about 76% of the total new supply, promising to raise the quality and management standards of the capital's real estate market.

Source: https://daibieunhandan.vn/ha-noi-dan-dau-phuc-hoi-bat-dong-san-10394154.html