After a period of stagnation, Hanoi apartment prices have been on the rise again over the past month. The actual market developments have gone completely against the predictions of many experts who forecasted that apartment prices on the secondary market would trend downward.

Hanoi Apartment Prices Continue to Rise

According to the latest survey by Batdongsan.com.vn, in the past month, after a period of flat or slightly declining prices post-Lunar New Year (Tết), the secondary apartment market in Hanoi has unexpectedly witnessed a price rebound.

Hanoi apartment prices have continued to rise over the past month

Why Are Secondary Market Prices Rising Again?

Ms. Trần Hải Phương, a broker specializing in apartment sales in the western area of Hanoi, noted that after a stagnant period, the secondary apartment market has seen explosive growth over the past month. The main reason is the consistent launch of new primary market supply in Hanoi over the past two months. Notably, prices of primary market units are very high, starting at around VND 100 million/m².

“Except for two primary projects in Hà Đông with average prices of VND 85–95 million/m², most new projects launching in Hanoi are priced at over VND 100 million/m². Projects priced between VND 150–220 million/m² account for about 30% of the market supply. The influx of high-priced new supply over the past two months has pushed secondary apartment prices in Hanoi upward,” she added.

Apartment prices are forecast to continue rising in the near future.

Apartment Prices Expected to Continue Rising

Investor Hoàng Hưng Thịnh, currently living in the Nam Trung Yên urban area (Yên Hòa Ward, Hanoi), commented that rising raw material prices and increasing labor costs in recent times will continue to drive up the overall real estate price level. The price momentum of construction materials is expected to persist due to a surge in public investment and infrastructure projects. Key projects such as the North–South Expressway, Long Thành Airport, and ring roads in Hanoi and Ho Chi Minh City are creating significant demand for construction materials such as cement, steel, sand, and stone.

The market is also seeing a wave of real estate projects starting construction and launching sales. “These developments have led to a surge in demand, resulting in localized shortages and pushing both material and labor costs higher. Therefore, real estate prices are unlikely to decrease in the near future and are also unlikely to decline in the long term,” Mr. Thịnh emphasized.

Batdongsan.com.vn's online data shows that apartments remain the most sought-after real estate type in Hanoi. It was the only segment that saw a rebound in buyer interest recently, increasing 9% compared to the previous month. Surveys also indicate that the price growth trend has returned, with most current market transactions occurring in the secondary market, as primary market prices are much higher. However, overall market transaction volume is still not significantly stronger compared to the same period last year. Buyers are still adopting a wait-and-see attitude amid ongoing market fluctuations.