In recent years, the Vietnamese real estate market, especially in Hanoi and Ho Chi Minh City, has witnessed a rapid increase in prices of apartment projects. This not only reflects the growing demand for housing, but also shows the great investment potential of this segment.
The apartment group has the strongest price increase in the country
According to data from Batdongsan.com.vn, the number of people looking to buy apartments in Hanoi increased sharply from the second quarter of 2023, peaked in August 2023, then decreased due to many people selling.
From December 2023, the number of apartment searches increased again and by March 2024 it approached the peak of August 2023, but by April 2024, the level of interest decreased by 23%.
Although the level of interest has decreased, the price of apartments for sale in Hanoi has not decreased. In April 2024, affordable apartment prices increased by 12%, mid-range apartment prices increased by 5%, and high-end apartment prices increased by 3% compared to the previous month.
Although the level of interest has decreased, apartment prices in Hanoi have not decreased. (Photo: Lap Dong)
In Hanoi, apartment prices have increased significantly in the past few years. The western area of the city, including districts such as Cau Giay, Nam Tu Liem and Bac Tu Liem, has become a hot spot of the market. High-end projects such as Vinhomes, Keangnam Hanoi Landmark Tower and Mandarin Garden are continuously sought after by customers, pushing up selling prices. According to data from Batdongsan.com.vn, the following 10 apartments are leading in price increase:
Project
Delivery price April 2024
The speed increased compared to the beginning of the year
Apartment M3-M4 Nguyen Chi Thanh
52
39%
Sunshine Golden River
75
36%
Hateco Hoang Mai
42
36%
Gelexia Riverside
46
33%
Vinaconex 7
44
33%
New Horizon City – 87 Linh Nam
48
33%
Eurowindow River Park
37
32%
Duong Noi new urban area
39
31%
Xuân Mai Sparks Tower
39
31%
Thang Long International Village Urban Area
60
30%
In Ho Chi Minh City, the market is no less vibrant, with a boom in apartment projects. District 2, District 9 and Binh Thanh are the areas with the strongest price growth. In particular, projects in Thu Thiem – one of the newest and most modern urban areas in Ho Chi Minh City, have recorded record price increases. Also according to data from Batdongsan.com.vn, the top 10 apartments with the fastest price increase include:
Project
Delivery price April 2024
The speed increased compared to the beginning of the year
District 2 Thao Dien
135
46%
Khang Gia Go Vap Apartment
32
45%
Green View
50
24%
Park View
48
19%
Cantavil An Phu – Cantavil Premier
54
19%
The Era Town
23
18%
The Panorama
72
17%
Urban Green
58
16%
The Useful Apartment
35
15%
Carillon 2
41
14%
People and investors need to carefully analyze the market
Talking with Doi Moi, economic expert – Dr. Pham Chi Lan commented that currently, the housing segment for low-income workers and affordable commercial houses in Vietnam is always scarce, while high-end real estate such as resort villas and villas sea, and condotels are redundant.
Meanwhile, Dr. Vu Dinh Anh, (financial expert, Former Deputy Director of the Price Market Research Institute, Ministry of Finance) said that for the real estate market in general, especially the real estate market, Real estate is in its early stages like in Vietnam, the phenomenon of price inflation and real estate speculation often occurs. Therefore, investors and people need to calm down and analyze each cause to find solutions amid the current increase in apartment prices.
Experts say that investors and people need to calm down and analyze each cause to find solutions amid the current increase in apartment prices. (Photo: Lap Dong)
Meanwhile, Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn advised that buyers need to clearly define the purpose. If you buy to live in, you can trade when finances allow. Waiting for prices to drop sharply is difficult because supply has not improved quickly and the number of investors will decrease when the revised Real Estate Business Law takes effect.
Regarding investment, Mr. Quoc Anh advised investors to consider carefully. For short-term investments, you should not invest money because the price and level of interest are not stable. Long-term investment and rental are still positive, because profit growth from apartments in the period 2015-2023 reaches 97%, highest compared to other types of investment such as stocks, gold, savings, foreign currencies. bad…
Lap Dong