Around 70,000 new apartments to be delivered in Hanoi
Around 70,000 new apartments to be delivered in Hanoi
Hanoi’s apartment market is on the rebound and entering a new cycle, with prices remaining high due to strong demand.
Nearly 70,000 units from 91 new appartment projects are expected to be launched in 2026, mainly in Hanoi's suburban areas such as Dong Anh, Hoai Duc and Hoang Mai.
This information was highlighted in a recent market report by real estate consultancy Savills, which predicts a significant increase in new apartment supply in Hanoi from 2025.
A 3D model of Vinhomes Global Gate Co Loa in Dong Anh District. Photo: Vinhomes |
Specifically, around 25,200 apartments will be delivered this year, with those in large urban projects in the mid-range segment accounting for 70% of the market share.
Do Thu Hang, Senior Director of the Consulting and Research Department at Savills Hanoi, noted that the apartment market has recovered and entered a new phase.
She added that nearly 25,000 new units were launched in the capital last year, the highest in five years, largely driven by the Vinhomes Smart City (Nam Tu Liem District) and Vinhomes Ocean Park (Gia Lam District) projects. In the fourth quarter alone, nearly 13,000 new units were launched, representing a quarterly increase of 146% and an annual increase of 351%.
This upward trend has been corroborated by various research agencies.
Another real estate firm, CBRE, reported that the number of newly launched apartments in Hanoi in 2024 could have tripled year-on-year, marking the highest annual supply since 2020.
The firm predicted that over 31,000 new units will be available in the capital in 2025, surpassing last year's figures. New supply is expected to come from the south (Hoang Mai District), east (Long Bien District), and west (Dan Phuong District).
The year 2025 will mark the beginning of a new cycle in the residential market as supply increases and competition among developers intensifies, according to CBRE.
Housing prices to stabilize in 2025
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An apartment building in Hanoi. Photo: Masteri West Height |
According to Duong Thuy Dung, Executive Director of CBRE Vietnam, residential prices in Hanoi are expected to remain stable in 2025, with growth rates slowing to around 5-8% compared to 2024.
According to Savills, apartments priced above VND4 billion ($157,576) accounted for 59% of total sales in 2024, a significant increase from just 2% in 2020. Meanwhile, units priced between VND2-4 billion ($157,576-$78,788) made up 40%, with only 1% of apartments priced below VND2 billion ($78,788).
The firm attributes the pricing challenges to a mismatch between supply and demand, with most new supply concentrated in the mid-range (Class B) segment, while high-end (Class A) units are contributing to rising prices. As a result, apartment prices are unlikely to decline in 2025 and could either stabilize or continue to rise, the report said.
The firm added that from 2020 to 2024, the average price of existing apartments in Hanoi saw an annual increase of 22%. Class C apartments increased by 26% per year, class B by 20%, and class A by 19%.
