Out of land, Hanoi people will have to go to Hung Yen to buy houses

(CLO) According to a report by One Mount, in the period 2025-2026, Van Giang - Hung Yen will supply approximately one-third of the apartments for Hanoi and the surrounding areas.

According to One Mount Market Research and Customer Insights Center, the total number of primary apartment transactions in Hanoi and Van Giang ( Hung Yen ) in 2024 is expected to reach approximately 33,800 units, more than three times the number in 2023. In the eastern part of Hanoi alone (including Gia Lam and Long Bien), the number of transactions is 12,800, accounting for 38% of the entire Hanoi market.

Specifically regarding the supply in the Eastern market, Gia Lam district had 11,000 units in 2024, accounting for 85% of the most developed area in Hanoi. However, the supply will decrease sharply in 2025 and is expected to cease in 2026.

Van Giang is set to become a focal point for the Hanoi and Hung Yen apartment market in the 2025-2026 period. (Photo: VH)

In Long Bien, the supply in 2024 remained limited with over 600 units, expected to increase to 2,800 units in 2025 as some developers have completed legal procedures and begun construction. However, this number is expected to decrease by almost half in 2026.

Notably, in 2024, the supply in Van Giang (Hung Yen) was 2,200 units, projected to triple in 2025 and reach over 11,000 units in 2026.

Mr. Tran Minh Tien, from the One Mount Market Research and Customer Insights Center, commented that Van Giang becoming the focal point of the Hanoi and Hung Yen apartment market in the 2025-2026 period is driven by two factors.

Firstly, there is the policy of decentralizing the population from the city center. As land in the inner city is gradually running out, the city has been implementing policies to limit population growth in the central core and redirect residents to suburban areas such as Long Bien, Gia Lam, and satellite areas like Van Giang (Hung Yen).

According to the development plan for Hanoi and Van Giang (Hung Yen), by 2030, the eastern region is expected to have 1.05 million inhabitants, a 39% increase compared to 2022. These demographic factors will create a significant demand for housing and living amenities in the eastern region in the coming years.

Secondly, there is the planning vision for the eastern districts of Hanoi and Hung Yen province. In the coming time, the completion of key transportation projects such as the 3.5 ring road, the 4 ring road, Me So bridge, Hong Ha bridge, etc., will create a major boost for the development of Van Giang. Shorter travel times and convenient transportation connections will attract a large number of residents and businesses to invest and live there.

"Thanks to its advantageous location and transportation infrastructure, the eastern area has created an appeal, attracting many large investors and is predicted to lead the Hanoi real estate market in the long term," Mr. Tien emphasized.

Source: https://www.congluan.vn/van-giang--hung-yen-se-cung-cap-khoang-mot-phan-ba-luong-can-ho-cho-ha-noi-post330832.html