In Q1/2025, apartment asking prices in Hanoi and Ho Chi Minh City stabilized. Unlike the strong surges of 2024, prices have stopped rising rapidly but still remain high.

📊 Prices Hold Steady

According to the Ministry of Construction’s report on housing and the real estate market for Q1/2025, apartment prices in major cities—Hanoi, Ho Chi Minh City, Da Nang, and Hai Phong—saw little change compared to Q4/2024.

Price ranges by segment:

Affordable segment: under VND 45 million/m²

Mid-range segment: VND 45–70 million/m²

High-end segment: from VND 70 million/m², some projects exceeding VND 100 million/m²

Luxury segment: ultra-luxury projects reaching nearly VND 200 million/m²

🏗 Project Completions and New Licenses

In Q1/2025, a total of 14 residential projects with approximately 3,813 apartments were completed:

Northern region: 8 projects

Southern region: 6 projects

Additionally, 26 new projects received licenses, adding about 15,780 new units—equivalent to 144% of Q4/2024 and 136% of Q1/2024:

North: 15 projects

Central: 7 projects

South: 4 projects

🏘 Future Housing Supply

There are currently 59 projects with around 19,760 units qualified for future housing sales (off-plan):

This represents 96.7% of Q4/2024 and 155.2% compared to Q1/2024.

Regional breakdown:

North: 38 projects

Central: 14 projects

South: 7 projects

📉 Downward Trend Begins

According to Batdongsan.com data, Hanoi’s apartment market began flattening at the end of 2024. In many projects, asking prices and transaction volumes have declined by 2–5% compared to the same period last year.

🔍 Expert Forecasts

Ms. Đỗ Thu Hằng, Director at Savills Hanoi:

“In Q1/2025, primary market prices declined. Nearly half of the 400 projects we surveyed recorded price drops compared to the previous quarter. This trend is expected to continue into Q2/2025, allowing for better alignment between buyers and sellers.”

Ms. Nguyễn Hoài An, Senior Director at CBRE Vietnam (Hanoi):

“The price stagnation is a natural result of the previous 35–40% surge over the last two years. In earlier quarters, price increases reached 8–9%, but have now slowed to about 3%. Many homeowners are now lowering prices after holding out for too long. Without adjustments, they may face liquidity issues due to increasingly cautious buyer sentiment.”

💬 Market Dynamics

Mr. Phạm Đức Toản, CEO of EZ Property:

“The market no longer faces a supply crunch. Buyer sentiment has also stabilized, making it harder for apartments to attract strong investment capital like in 2024.”

👪 Real Demand Over Speculation

Market data indicates that a growing number of low- and middle-income households are actively searching for new social housing projects expected to launch in late Q2/2025.

During the previous market boom, investors redirected capital toward rental apartments, further accelerating price increases. But now, real estate platforms report that most apartment buyers are purchasing to live in, not to invest. The number of speculative investors has dropped significantly.