The Hanoi apartment market in the second quarter of 2025 continued to record strong growth in selling prices, especially in the primary market. This price increase has shown no signs of stopping. Previously, in the first quarter of 2025, the Hanoi apartment market recorded an adjustment in asking prices and a slowdown in growth after 8 consecutive quarters of growth.
We had a discussion about the developments of the apartment market in the second quarter with Ms. Nguyen Hoai An, Senior Director of Hanoi Branch of CBRE Vietnam.
– Madam, how has the apartment price level in the Hanoi primary market changed in the second quarter of 2025?
The apartment market in the last quarter witnessed the dominance of the high-end segment and above, with all newly launched projects belonging to this segment. This pushed the average primary asking price to over VND70 million/m2 (excluding VAT, maintenance fees and discounts).
The concentration of supply in the high-end segment has caused the average primary selling price of the whole market at the end of the quarter to reach about VND79 million/m2 (excluding VAT, maintenance fees and discounts). This price increased by 6% compared to the previous quarter and increased by 33% compared to the same period last year.
Notably, even areas with more affordable prices such as Ha Dong and Hoang Mai, where the average price was previously around VND40-50 million/m2, have recorded new projects offering prices of over VND70 million/m2.
– That is the price movement in the primary market, so how is the apartment price movement in the secondary market, madam?
The secondary market recorded an average market price of VND50 million/m2, an increase of 15% year-on-year. That is, the secondary apartment market continued to record growth in selling prices. However, this price increase was significantly lower than the 26% year-on-year increase at the end of 2024.
– Can you share how the market’s trading situation has developed in the past quarter?
The Hanoi apartment market in the last quarter recorded an increase in supply with nearly 7,000 newly launched units. This figure is nearly double the supply in the first quarter. If we count both quarters, in the first six months of 2025, there were more than 10,000 new apartments launched on the market. This is the second highest figure in the past 5 years, after the first half of 2024.
Trading activities were also bustling when in the second quarter of 2025, the primary market recorded more than 5,000 successful transactions. However, the total transaction volume decreased by 27% compared to the same period last year. The average absorption rate of new projects in the first quarter of launch was about 60%, slightly down from 70% in 2024.
– Where will the supply of apartments in Hanoi in 2025 be concentrated, madam?
2025 is expected to be a vibrant year for the Hanoi apartment market, with a series of projects preparing to launch, especially in the Northern and Eastern regions. A series of new bridges across the Red River such as Tu Lien, Tran Hung Dao and Ngoc Hoi are gradually taking shape, creating strong momentum for sales activities in these areas.
Not only that, many projects that were “frozen” due to legal problems are also being resolved and are expected to restart in the second half of the year. Inner-city districts such as Cau Giay, Tay Ho, Hoang Mai, and Long Bien will welcome new supply, bringing more options for home buyers.
– How will the new supply with high prices pouring into the market affect market participants such as investors, real buyers, and investors?
In the coming time, the large supply with high asking prices is expected to increase competition between projects and investors to attract buyers. When the market has more options in terms of location and price range, buyers will tend to compare and consider more carefully, and at the same time have higher expectations for product quality, services and amenities – commensurate with the amount of money they spend.
– Thank you for this conversation!
