From the second half of 2024 until now, although the Hanoi real estate market has begun to show signs of improvement, there is a clear differentiation in regions and segments. How is that specifically reflected? Let’s analyze the highlights of the Hanoi real estate market in the first half of the year to clearly see these changes.
After a period of stagnation lasting from late 2022 to mid-2024, the Vietnamese real estate market continues to face many challenges. However, the Hanoi market is showing signs of improvement and is more stable than the general level.
In the context of gradually loosening fiscal and credit policies, decreasing interest rates and improving buyer sentiment, Hanoi real estate has recorded many remarkable movements. There are no more “virtual fevers” or massive transactions, instead there is a clear differentiation between segments, regions and product lines.
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4 Notable Developments in Hanoi Real Estate Market at the Beginning of the Year
1. Slow Transactions, Buyers Be Cautious When Paying
According to One Mount Group data, in the first quarter of 2025, the Hanoi real estate market recorded a total of 18,300 transactions, including 8,300 primary transactions (direct purchases from investors) and 10,100 secondary transactions (re-transfers on the market). This figure decreased by 14% compared to the same period in 2024.
The slight decrease in transaction volume reflects the cautious sentiment of investors and real buyers, in the context of ongoing macro factors such as tightening credit, legal procedures and the process of purifying non-transparent projects.
In addition, the sharp increase in real estate prices in Hanoi, especially in the apartment segment, over a long period of time has also made it more difficult for home buyers to access the product.
2. Liquidity Differentiated by Region
Transactions in central areas of Hanoi such as Ba Dinh, Hoan Kiem, Dong Da have decreased significantly – mainly due to high selling prices and limited land fund. In contrast, suburban areas such as Dong Anh, Hoai Duc, Thanh Tri, Gia Lam have recorded more positive interest and liquidity, especially in the land-attached housing and mid-range apartment segments.
According to One Mount Group, the consumption of newly opened apartments in the first quarter of 2025 decreased by about 3,200 units, equivalent to 71% quarter-on-quarter and 23% year-on-year. The cumulative absorption rate in the quarter was only 80%.
In addition, there was also a local slowdown, as the land and townhouse segment in the inner city cooled down significantly, while some suburban areas retained their appeal thanks to low prices and favorable infrastructure planning.
3. New Project Supply Improves But Has Not Exploded
The scarcity of new projects for sale continues to occur in the Hanoi market. However, since the beginning of 2025, the situation has begun to show signs of slight improvement when some investors introduced projects to the market.
New projects are concentrated in a number of large projects in Gia Lam, Dong Anh and Thach That, mainly in the high-end and luxury segments. Many investors are speeding up the legal process to introduce products to the market in the second half of 2025 – especially in the context of buyers’ psychology gradually improving again.
4. Recovery Signals From Real Demand
According to online data from Batdongsan.com.vn, since the beginning of March, Hanoi real estate searches have recovered, recording a 27% increase compared to February.
Data from Savills and major trading floors show that interest in mid-range apartments and low-rise houses is increasing, especially among customers buying for living, instead of speculating. This is a positive sign that the market is returning to a real foundation – instead of “virtual fever” like in the period of 2020-2021.
Real estate prices, especially apartments, are increasing while supply is scarce and buyers’ cautious psychology makes the demand for buying in this period no longer speculative, mainly people with real needs to buy for living.
In general, the Hanoi real estate market in early 2025 is operating in a stable – purifying – accumulating state, with liquidity concentrated in segments with reasonable prices and clear legal status. Buyer sentiment is improving, but they are still selective and cautious before spending money.
Prominent Market Segments
1. Apartments: Price Increase Slows Down, Transactions Concentrated in Satellite Areas
The apartment market in Hanoi is entering a period of stability after a price increase cycle that lasted from 2021 to early 2024. In the first quarter of 2025, apartment prices did not fluctuate much, with an average increase of only 1.5-2% compared to the previous quarter – much lower than in previous periods of rapid increase.
According to online data from Batdongsan.com.vn, the average price of apartments in Hanoi in the first quarter of 2025 reached VND 63 million/m2, an increase of about 61.5% compared to early 2023 (VND 39 million/m2).
The supply of new projects mainly comes from suburban areas such as Gia Lam, Dong Anh, Thach That, Thanh Tri, which are benefiting from synchronous planning and infrastructure connecting to Ring Road 3 and Metro Line 1. In particular, Dong Anh has two projects Imperia Signature Co Loa and Masteri Grand Avenue, both in the high-end segment with prices ranging from VND90-120 million/m2.
Notably, the affordable segment continues to fall into a state of “no supply” – when no new projects in the price group under VND30 million/m2 have been opened for sale since 2022. This creates great pressure for low-income homebuyers.
Meanwhile, mid-range and high-end apartments with prices ranging from VND45-70 million/m2 still have good liquidity, especially projects with clear legal status, good construction progress and flexible sales policies (interest rate incentives, support for payment extension, etc.).
2. Low-Rise Housing: Supply Increases Again, Attracting Real Home Buyers
Low-rise real estate – including villas, townhouses, shophouses – is gradually recovering after a sluggish period in 2023. According to CBRE, new supply in 2025 is expected to exceed 7,000 units, coming from urban areas in Dan Phuong; Long Bien; Tay Ho Tay.
The strengths of this product line are large land funds, open design, low construction density and easy transfer. However, price pressure causes transactions to mainly come from customers with strong finances or real estate purchases, with few speculative investors.
Typical projects include Sunshine Capital Tay Thang Long, Vinhomes Wonder Park, BRG Smart City Dong Anh… introduced to the market with prices ranging from 85-150 million VND/m², depending on location and category.
In 2024, Hanoi is considered a bright spot in low-rise housing supply with more than 6,300 townhouses and villas newly launched for sale in the past year, mainly from subsequent launches in urban areas in Dong Anh and Ha Dong. Compared to 2023, new supply in Hanoi has doubled.
In the context of relatively abundant new supply, the absorption capacity of the townhouse/villa market in Hanoi remains stable. The total number of units sold in 2024 reached more than 6,100 units, an increase of more than 43% over the same period in 2023.
3. Land: Strong Attraction Returns to Suburban Districts
The land segment has clearly recovered in early 2025, especially in areas that are investing heavily in infrastructure and preparing for administrative upgrades.
According to data from Batdongsan.com.vn, in March 2025, the number of searches for land in Hanoi increased quite strongly, at 52%, in Ho Chi Minh City increased by 31% and in other provinces increased by 54% compared to February 2025. Meanwhile, the common land price in March 2025 in Hanoi increased by 42%, in Ho Chi Minh City increased by 7% and in other provinces increased by 67% compared to January 2023). The three areas with the strongest price fluctuations include: Hoai Duc with an average price increase of 81% compared to early 2023; Dong Anh increased by 53% and Thanh Oai increased by 90%.
The reason comes from planning information, upgrading administrative units, along with the trend of population moving to suburban areas. Plots of land with an area of 50-80m² with red books and complete infrastructure are the most sought-after types.
However, experts warn investors to avoid buying based on rumors, and should only focus on areas with clear legal status and approved planning, to avoid the risk of “capital stuck”.
In general, real estate segments in Hanoi in early 2025 are strongly differentiated. Apartments are stable, low-rise houses are gradually recovering, and suburban land shows signs of heating up again – but there are potential speculative risks. Investors need to be alert in choosing products that suit their taste and capital flow.
Outstanding Real Estate Projects in Hanoi in Early 2025
In early 2025, the Hanoi market did not record an explosion in the number of new projects, but there were still some notable projects, focusing on the mid- to high-end apartment segment with good locations, complete legal documents and competitive sales policies. Below are three projects that are attracting strong interest from buyers and investors:
1. The Charm An Hung (Ha Dong)
- Investor: Hai Phat Invest
- Total number of apartments: 592 units
- Selling price: From 74–81 million VND/m²
Highlights:- Located in the new urban area of An Hung – the center of Ha Dong.
- Modern design, integrated with high-class utilities such as sky garden, 4-season swimming pool, gym.
- Benefit from the rapidly developing infrastructure of the area: Nhon – Ha Dong Metro line, Le Van Luong extension.
2. Kepler Land (Nam Tu Liem)
- Investor: Sunshine Group
- Total number of apartments: 1,280 units
- Expected price: 78–90 million VND/m²
Highlights:- Located near My Dinh Urban Area, adjacent to many international schools and offices.
- The tower is designed according to “smart living” standards, using automatic management and operation technology.
- Diverse internal facilities: shopping mall, mini cinema, reading and relaxation area.
3. The Paris – Vinhomes Ocean Park 1 (Gia Lam)
- Investor: Vingroup
- Total number of apartments: 3,144 units (in The Paris subdivision)
- Selling price: From 62 million VND/m²
Highlights:- Belonging to Vinhomes Ocean Park 1 urban area – the symbol of “city of lakes and seas” in Hanoi.
- High-class utility ecosystem: artificial sea, park, Vinschool, Vinmec, shopping center.
- Directly connected to Metro line 8 (under construction), promising to increase value in the medium and long term.
In general, projects opening for sale in early 2025 in Hanoi all have clear legal status, are large-scale, and target real buyers and medium- and long-term investors. Notably, the projects are all located in areas oriented to develop into satellite cities.
Expert Comments and Forecast for Hanoi Real Estate Market 2025
In the context of the market gradually stabilizing and taking shape after the period of tightening credit and purifying investment, experts believe that 2025 will be an important “hinge” for the recovery cycle of Hanoi real estate.
1. Sustainable Recovery Signals From Real Demand
According to reports from Savills Vietnam and major market research units such as DKRA, Batdongsan.com.vn, interest in real estate in Hanoi has increased again in the first quarter of 2025, especially among customers buying for living and medium- and long-term accumulation.
“Real demand is still accounting for a large proportion. Current buyers no longer follow ‘short waves’ but tend to choose products with clear legal status, reputable investors and good connectivity,” said Mr. Troy Griffiths, Deputy General Director of Savills Vietnam.
2. The Cautious Return of F0, F1 Investors
Although the market has not seen a massive wave of investment, F0 and F1 investors have begun to return, especially in segments such as suburban land and mid-range apartments with financial support. However, compared to the 2021-2022 period, the current cash flow is more focused, more selective and oriented towards stable profitability instead of expecting super profits.
3. Impact of Policy and Credit
Macroeconomic policy will continue to be a key factor influencing the market. The State Bank’s reduction of operating interest rates from the fourth quarter of 2024 has begun to stimulate demand, but real estate credit is still being tightly controlled in segments with high speculative factors.
At the same time, the 2024 Land Law (effective from January 1, 2025) also creates expectations to help remove legal obstacles, speed up the project approval process and improve supply in the medium term.
4. Three Development Scenarios From 2025–2030
According to a group of experts at the Vietnam Association of Realtors (VARS), the Hanoi market can develop according to three main scenarios:
The first scenario is a stable market – slow recovery: If policies continue to be cautious, the market will grow slightly and sustainably in the next 2-3 years.
The second scenario is a strong market recovery: In case credit is loosened and legal issues are thoroughly removed, the market can clearly recover from 2026.
The third scenario is a hot market growth again: If there is a big push from preferential policies (credit packages, tax incentives, etc.), the market can explode, but also comes with risks if speculation is not well controlled.
The Hanoi real estate market in early 2025 is moving towards a slow but steady recovery, led by real demand and legal factors. This is the time for investors to “play long term” – putting their trust in areas with clear planning, transparent legal status and sustainable growth potential.
Thus, despite many difficulties, the Hanoi real estate market in the first half of 2025 shows many positive signals after a long adjustment period. Although there has not been a clear boom, the stability of liquidity, the return of individual investors, along with policies to remove legal and credit issues are gradually creating the foundation for a more sustainable growth cycle.
However, this is no longer a period for short-term speculation. Experts all emphasize: buyers and investors need to be cautious, carefully select, prioritize products with clear legal status, reputable investors and located in synchronously planned areas.
