According to Batdongsan.com.vn, apartments in Hanoi were the only real estate segment that saw an increase in user interest in May, up 9% compared to April. Meanwhile, other segments such as land plots, private houses, street-front houses, and villas experienced declines.

Hanoi apartments

Notably, apartments in Hanoi were the only type to record a rebound in interest in May, with a 9% increase compared to April. In contrast, the level of interest in other segments fell: land plots down 15%, private houses down 8%, street-front houses down 8%, and villas down 4%.

Land plots dominated the real estate market in the northern provinces (excluding Hanoi). However, in May, interest in land plots unexpectedly dropped by 5% compared to April. Meanwhile, interest in apartments rose by 19%, and both private houses and villas increased by 9%.

Also in May, interest in apartments in the northern provinces surged 19% compared to the previous month. This indicates a return in buyer confidence, particularly in provinces adjacent to Hanoi — where prices remain attractive and new supply is expanding.

The chart also shows that the number of apartment listings increased in both Hanoi and the northern provinces, rising 6% and 7% respectively compared to the previous month. Although the number of new listings did not change drastically, the increase reflects renewed activity from sellers and real estate exchanges.

Between 2021 and 2025, the apartment market in northern Vietnam has shown a clear divergence between selling prices and rental rates. While average apartment selling prices surged — especially in Hanoi — rental rates recorded only modest growth.

In Hanoi, the average apartment selling price rose from VND 31 million/m² in Q1/2021 to VND 66 million/m² in Q2/2025, equivalent to a 113% increase. This represents nearly a doubling in price over five years, with a steeper upward trend since 2023.

In other northern provinces (excluding Hanoi), prices also increased significantly from VND 26 million/m² to VND 46 million/m², a 77% rise. Although lower than Hanoi, this increase still reflects the growing attractiveness of real estate in nearby provinces, driven by population shifts and rapid development of inter-regional infrastructure.

In the South, apart from Ho Chi Minh City, neighboring provinces maintained stable interest in the apartment segment despite not experiencing significant price increases. Meanwhile, both selling and rental prices in Ho Chi Minh City continued to rise.

Specifically, the average selling price of apartments in Ho Chi Minh City has reached approximately VND 60 million/m², up 46% compared to Q1/2021. Rental prices increased by 9%, reaching an average of VND 12 million per unit. In provinces outside of Ho Chi Minh City, apartment rentals are currently around VND 7 million per unit, with little fluctuation.