The continuous escalation of real estate prices in Hanoi in many segments in recent times has forced investors to look for “new lands”. Da Nang, with the explosion of new primary supply since the beginning of the year, has become the “target” of this shift.
Hanoi Investors Dominate Sales Openings
The Hanoi real estate market has been witnessing skyrocketing prices over the past years. From the center to the suburbs such as Dong Anh, Gia Lam, Hoai Duc, land prices and apartment prices have continuously reached new peaks, creating considerable pressure for both those with real housing needs and investors. A report from the Ministry of Construction said that in the first 9 months of the year, the apartment market in Hanoi and Ho Chi Minh City continued to maintain high prices, even increasing compared to the same period last year. Particularly in the Hanoi market, the Ministry of Construction’s report for the third quarter of 2025 said that the average primary selling price fluctuated from 70-80 million VND/m2, up to 33% higher than the same period in 2024. Notably, the luxury segment recorded “ceiling” prices, with many projects selling for 150 to 300 million VND/m2, reflecting an escalating trend that shows no signs of cooling down.
In that context, many Hanoi investors are forced to find a new direction, instead of continuing to “ride the peak” in the capital market. Since the beginning of the year, the Da Nang market has exploded with a series of supply sources with a series of projects launched and introduced. Typical names include Capital Square, Newtown Diamond, Mia Center Point, Masteri Rivera Danang, Sun Cosmo Residence, Sun Ponte Residence Da Nang… which have “made waves” in the market, attracting investors. Investor Phan Bao Ngoc (residing in Ha Dong ward, Hanoi) said: “Currently, the average price of apartments in Hanoi with new projects is from 100 million VND/m2, high-end and luxury projects are all priced around 200 million VND/m2. Meanwhile, high-end and luxury apartments in Da Nang are priced at an average of 80 million VND/m2. This is an “affordable” price level, while the market potential for tourism, service and economic development is huge. This is the reason I decided to shift my investment from Hanoi to Da Nang.”
In addition to the price level and economic potential, Da Nang also attracts investors from the North thanks to its living space. Mr. Nguyen Dong Phong, from Bach Mai ward (Hanoi), said that he recently bought two apartments on the same floor in a project that just opened for sale in June in Da Nang, expected to be handed over in 2027. His purpose is to rent one apartment to generate cash flow, and he and his wife will use the other apartment for living. “My wife and I plan to fly once a year during the holidays to relax with the apartment we bought to live in. About 4 years from now, when I retire, my wife and I will move in permanently. The air in Da Nang is fresh and suitable for the elderly. In addition, Da Nang is shaping up to become an international tourism and financial center of the Central region, with a series of upgraded transport infrastructure projects, seaports, and airports. These are big pluses that make me expect Da Nang real estate to enter a new growth cycle,” Mr. Phong shared.
According to the survey, some areas such as Vo Nguyen Giap coastal area, Ngu Hanh Son or the Northwest axis of Da Nang continuously recorded capital flows from the North with the presence of a large number of investors from Hanoi, Hai Phong, Quang Ninh, Bac Ninh, Hai Duong… Cash flow is distributed in many segments, from apartments, land or townhouses with the expectation of catching the infrastructure wave and recovering international tourism.
Talking to Batdongsan.com.vn, brokerage floors selling in Da Nang confirmed that the number of customers from Hanoi has increased sharply in recent sales. There were sales openings where Hanoi customers accounted for 60-70% of successful transactions. “Many investors from the North are willing to pay on the spot, even go in groups to buy land and apartments, because compared to Hanoi prices, the current prices in Da Nang are still much lower,” said the sales director of a trading floor in Son Tra ward.
Investing Requires Sobriety, Avoiding “Illusions” of Profit
However, some experienced investors who participated in the Danang real estate market during the bustling period of the previous cycle have issued notable warnings about the phenomenon of massive capital flow from Hanoi to Danang. Mr. Pham Duc Trung, currently residing in the Ciputra urban area in Hanoi, said that any market has many potential risks if investors are not alert. According to Mr. Trung, the mentality of “leaving the city for the sea” can easily create a wave of short-term speculation, pushing real estate prices beyond their real value, causing the market to lose balance. “Danang witnessed a feverish period in 2018 – 2019, when land prices were pushed up two or three times in a short period of time, then fell into a prolonged slump. This lesson is still valuable,” Mr. Trung emphasized.
However, some experienced investors who participated in the Danang real estate market during the bustling period of the previous cycle have issued notable warnings about the phenomenon of massive capital flow from Hanoi to Danang. Mr. Pham Duc Trung, currently residing in the Ciputra urban area in Hanoi, said that any market has many potential risks if investors are not alert. According to Mr. Trung, the mentality of “leaving the city for the sea” can easily create a wave of short-term speculation, pushing real estate prices beyond their real value, causing the market to lose balance. “Danang witnessed a feverish period in 2018 – 2019, when land prices were pushed up two or three times in a short period of time, then fell into a prolonged slump. This lesson is still valuable,” Mr. Trung emphasized.
Sharing the same opinion with Mr. Trung, Mr. Pham Dang Anh, also an investor from Hanoi, said that legal risks are also a big warning. Many resort projects and coastal land have been involved in disputes or have not completed legal procedures, causing investors to suffer losses. This investor advised: “When investing, you need to carefully check the project’s legal status and land use planning to avoid buying products that are involved in disputes or have been revoked. The attractiveness of price cannot replace legal security.”
In addition, according to Mr. Dang Anh, the use of financial leverage also has potential risks if the market does not grow as expected. Lending interest rates are currently cheap, but the pressure to repay debt is still high if the cash flow for renting or selling is slow. The lesson of the “condotel collapse” a few years ago is still clear evidence of the risks of chasing unfounded profit commitments. The shift of capital from Hanoi to Da Nang is an unavoidable trend when the Hanoi market is too expensive. However, opportunities only really come to sober investors, with long-term vision, knowing how to choose the right segment and products with transparent legal status. As for those who only “follow” the crowd psychology, expecting quick profits, the risk of falling into a speculative trap and getting stuck with capital is entirely possible.
