In the Hanoi market, most newly launched projects are priced between 65 and 80 million VND/m2. Some apartments are even offered at up to 96 million VND/m2. With 3 billion VND in hand, customers find it difficult to find a suitable apartment.
In the Hanoi market, most newly launched projects are priced between 65 and 80 million VND/m2. Some apartments are even offered at up to 96 million VND/m2. With 3 billion VND in hand, it's difficult for customers to find a suitable apartment.
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| New apartment projects in Hanoi are mostly concentrated in Nam Tu Liem district or Gia Lam district. (In the photo: Vinhomes Ocean Park 1 project. Photo: Dung Minh) |
Find a small apartment away from the city center.
According to our investigation, in central districts of Hanoi such as Dong Da and Thanh Xuan, there are virtually no new projects. Some older projects have common prices around 80-100 million VND/m2, with even the smallest apartments being around 70 m2. Therefore, with a budget of 3 billion VND, it's difficult to find a home in this area.
New apartments priced around 3 billion VND are mostly located in Nam Tu Liem district or Gia Lam district. The area ranges from 42 to 48 square meters, equivalent to a one-bedroom apartment.
Specifically, in Vinhomes Ocean Park 1 urban area (Gia Lam district), The Senique project by developer CapitaLand is currently selling 42 m2 apartments priced from 2.8 to 3.2 billion VND, depending on the floor. The expected handover date is Q3/2027.
Also located in Ocean Park 1, The London subdivision – a product of the collaboration between Mitsubishi Corporation and Vingroup – is offering 43 m2 apartments for sale at prices ranging from 2.8 to 3.1 billion VND. The handover date is August 2026.
Another new project located in Ocean Park 1, with the same developer as The London, is The Paris subdivision. The project was launched in November 2024, with an average price of approximately 68 million VND/m2. According to a real estate agent, one-bedroom apartments, equivalent to 48 m2, are being offered for around 3.2 billion VND. The handover date is expected in 2026.
Currently on sale in November, apartments in The Lake subdivision (Gia Lam) by developer Masterise Homes are priced at approximately 74-85 million VND/m2. One-bedroom apartments with an area of 41.2 m2 are being advertised by brokers at 3.1 billion VND. The expected handover date is 2027.
Besides the projects mentioned above, those wishing to receive their homes soon can also consider The Zurich subdivision within Ocean Park 1. This project is scheduled to begin handover in Q3/2025. However, the developer has already sold out all the apartments offered for sale, so buyers will have to look for resale units on the secondary market. Currently, a 1-bedroom apartment with an area of 41.8 m2 costs 2.4 billion VND. For a smaller 2-bedroom apartment of approximately 53 m2, the price will be around 3.3 billion VND.
Leaving Vinhomes Ocean Park 1 urban area, buyers can choose new projects in Nam Tu Liem district. For Imperia Sola Park project by MIK Group, the common asking price is around 65-76 million VND/m2. Specifically, 1-bedroom + 1 apartments, with an area of 43 m2, will cost 3.1-3.3 billion VND. The apartments here are scheduled for handover in 2027.
Still developed by MIK Group, The Victoria subdivision at Vinhomes Smart City is currently selling 30.7 m2 studio apartments for 2.6 billion VND. With a budget of 3.5 - 3.8 billion VND, buyers can own one-bedroom apartments ranging from 44 - 47 m2. Similar to Imperia Sola Park, the project is scheduled for handover in 2027.
Nam Tu Liem District is also home to the Lumi Hanoi project. Developed by CapitaLand, the project currently has an average price of 80 million VND/m2. On the resale market, 42 m2 one-bedroom apartments are being resold for 3.35 billion VND. This is approximately 300 million VND higher than the price announced by the developer during the initial sales launch in April 2024. The handover date is expected in 2026.
The market has almost no affordable apartments left.
Besides Gia Lam District and Nam Tu Liem District, homebuyers can look to the northern areas of Hanoi. Currently, the Masterise Grand Avenue project (Dong Anh District) is selling studio apartments with an area of 31 m2 for approximately 3 billion VND. With a selling price of over 96 million VND/m2, this can be considered one of the most expensive new projects in this area. The expected handover date is Q2/2027.
According to a report by the Ministry of Construction , in the third quarter of 2024, the primary apartment market in Hanoi saw price increases of approximately 4-6% quarter-on-quarter and 22-25% year-on-year. 
Projects in the more remote areas of Ha Dong district have the lowest prices on the list. For 3.5 billion VND, buyers can find a 67 m2, two-bedroom apartment in the CT4 Yen Nghia apartment complex. Previously, the developer positioned the project in the mid-range segment. However, after several sales phases and resale transactions, prices have continuously increased, currently reaching 52 million VND/m2. According to real estate agents, the project is currently in the handover process.
Several other new projects such as Wisteria (Hoai Duc district), QMS Top Tower (Nam Tu Liem district), Handico Complex (Thanh Xuan district)... not only have high prices, ranging from 65 - 80 million VND/m2, but also relatively large apartment sizes, with the smallest units being around 60 - 70 m2. Therefore, finding a home within a budget of 3 billion VND is impossible for those looking for a house.
According to a recent report by the Ministry of Construction, in the third quarter of 2024, the primary apartment market in Hanoi saw price increases of approximately 4-6% quarter-on-quarter and 22-25% year-on-year. Some areas recorded localized increases of up to 35-40% compared to the previous quarter.
Even when compiling information on the selling prices of new apartments in the capital, the Ministry of Construction itself could not find a project priced below 40 million VND/m2. Regarding the affordable apartment segment, the Ministry affirmed that the market has virtually no transactions or products left for sale.
"The increase in real estate prices in recent times is largely due to several factors such as the fluctuating increase in land-related costs; and the insufficient supply of affordable housing to meet market demand," the Ministry of Construction explained regarding the rising prices of apartment units.
Source: https://baodautu.vn/batdongsan/voi-3-ty-dong-nguoi-ha-noi-di-dau-de-mua-chung-cu-moi-d229650.html
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