According to a recent report from Batdongsan, in early 2025, the listing prices of apartments in Hanoi and Ho Chi Minh City decreased slightly by 1-5%, in contrast to the sharp increase seen in the same period in 2024.

The report from Batdongsan shows that apartment listing prices in Hanoi and Ho Chi Minh City have shown signs of stabilizing. By early February, the average listing price for apartments in Hanoi reached 62 million VND per square meter, a slight decrease of 1.6% compared to the previous month.

Similarly, apartment prices in Ho Chi Minh City dropped by about 5%, falling to around 57 million VND per square meter. The prices on Batdongsan include both primary market products (developer sales) and secondary market products (resale).

This development contrasts with the strong price increase seen in the same period last year. In the first two months of 2024, apartment prices in Hanoi saw an annual increase of around 11-20%, depending on the segment. In Ho Chi Minh City, the price increase was more moderate, around 2-5%.

The online real estate platform Nha Tốt also shows that the prices of unsold apartments in Hanoi have remained stable since the third quarter of last year, and then dropped by 5% in the fourth quarter. The price level improved in January but at a slower pace compared to the same period last year.

[caption id="attachment_1368" align="alignnone" width="1020"]                                                                             Real Estate of Ha Noi City Centre[/caption]

According to VnExpress, at the beginning of this year, many apartment projects in Hanoi showed signs of price increases halting. In the western district of a large urban area, two-bedroom apartments (63-67 square meters) were listed at around 4.5-4.8 billion VND, the same as the end of last year. Some units were even listed at a discount of 50-100 million VND from the previously paid 20% down payment.

Similarly, in an east district with apartments that were handed over nearly four years ago, prices have also stabilized since the end of last year. Some 65-square-meter apartments were listed at 46-47 million VND per square meter, whereas in mid-2024, the price had reached 48-49 million VND per square meter.

Nguyen Quoc Anh, Vice General Director of Batdongsan, said that after a year of rapid price increases, both real homebuyers and investors are now adopting a wait-and-see attitude, expecting apartment prices to adjust to more reasonable levels as supply increases. "Given the complex global situation, many investors are becoming more cautious in choosing where and how to invest," he said.

In line with this view, Pham Duc Toan, CEO of EZ Property, believes that the stabilized investment sentiment could lead to a slowdown in apartment investment this year. He mentioned that last year, the real estate market had just moved past the "bottom," and the surge in demand for actual residential products in major urban centers caused apartment prices to "skyrocket." This led many investors to experience FOMO (fear of missing out) and invest heavily in new apartment projects to benefit from favorable policies and installment payments, while also making it easier to resell later.

"Now that prices have already surged, and buyer sentiment has stabilized, it will be harder for apartments to attract the same level of investment as last year," Toan said.

Looking ahead to this year, One Housing, a real estate service company backed by Masterise Homes and Techcombank, forecasts a 5% decline in transaction volume after last year's strong growth. However, the price level is expected to remain high.

Similarly, real estate service firm CBRE stated that last year, the price of secondary market apartments in Hanoi increased by more than 26%, the highest rate on record, reaching an average of 48 million VND per square meter. However, this growth is expected to slow down in 2025. CBRE predicts that the new supply of 31,000 units this year will help stabilize prices, with a projected annual increase of 6-8%.

Source: VnExpress