Real estate projects in Hanoi expected to open for sale this year

(Dan Tri Newspaper) - Forecasts indicate that Hanoi will have 10 projects launched this year, contributing nearly 13,600 apartments to the supply.

A recently published report on the Hanoi apartment market in 2024 shows that, as of the fourth quarter of 2024, with the launch of many high-end projects, primary selling prices in Hanoi have recorded an increase of approximately 5% compared to the previous quarter, ranging from 2,600-3,600 USD/m2, equivalent to 65-90 million VND/m2.

The unit forecasts that Hanoi will have 10 projects launched this year, contributing approximately 13,600 apartments to the supply.

These projects include Central Residence (Gamuda Land); Eco Smart City Co Linh (investor Thien Huong); Kepler Land (TSQ Vietnam); The Charm An Hung; Sunshine Crystal River - Ciputra; Vinhomes Co Loa; The Reflection West Lake (Kusto Home); Starlake Phase 2 (Daewoo); Vinhomes Dan Phuong and BRG's Smart City project.

Dr. Nguyen Van Dinh - Chairman of the Vietnam Association of Real Estate Brokers (VARS) - stated that, in the short term, the supply of residential real estate this year will continue to grow, by about 10% compared to 2024. In fact, many projects are also planning to launch new units to capitalize on the market's recovery.

A condominium project in Hanoi (Photo: Tran Khang).

However, the projected supply will still be mainly contributed by large urban areas in the northern provinces and cities developed by major investors. Hanoi and its satellite cities are estimated to have approximately 37,000 units this year, while Ho Chi Minh City and its surrounding areas are estimated to have around 18,000 units.

Apartment units, primarily those priced at 50 million VND/m2 or higher, are projected to continue leading the market, with an increase in the supply of luxury properties.

Villas and townhouses are gradually becoming the focus of the market, with new supply increasing from large-scale urban projects expected to launch. Meanwhile, the supply of land plots will continue to decrease along with stricter regulations on land subdivision and sale.

However, housing supply will continue to be scarce, especially in the affordable housing segment. The VARS chairman believes that the supply from social housing projects is expected to grow significantly in 2025, but will still account for a very small proportion of the total housing supply in the market.

In the land plot segment, primary market prices have increased sharply due to good potential for price appreciation. Prices for villas/townhouses and terraced houses will also continue to remain high due to land scarcity and rising investment costs, especially those related to land.

According to Dr. Nguyen Van Dinh, housing projects launched this year will still attract interest and transactions, but the absorption rate is likely to slow down. The apartment segment will continue to dominate market liquidity.

However, apartment liquidity will remain concentrated in large-scale urban projects. Housing demand, especially investment demand, will continue to shift to suburban areas and second- and third-tier provinces and cities, where prices are lower and there is more room for future growth. Meanwhile, subdivided land plots with full legal documentation in areas with developed infrastructure and high potential remain a segment that many people are willing to invest in.

Assessing the housing market in 2025, Ms. Nguyen Hoai An - Senior Director of CBRE Hanoi branch - said that there are several factors that could lead to price stability.

This year, the supply of new apartments in Hanoi is expected to remain abundant, estimated at over 31,000 units for sale, higher than in 2024, mainly concentrated in the high-end segment, with an increase in the supply of luxury apartments.

This supply is considered a positive sign for the market. Citing research data, Ms. An stated that after a year of rapid price increases, the price level in the fourth quarter of 2024 is expected to slow down. Based on this supply, primary market selling prices are projected to grow steadily, with an average increase of 6-8% per year.

Source: https://dantri.com.vn/bat-dong-san/nhung-du-an-bat-dong-san-tai-ha-noi-du-kien-duoc-mo-ban-trong-nam-nay-20250128182840183.htm