Hanoi's apartment market continues to receive new primary supply. The latest batch of new housing projects has now expanded into the southern area, rather than being concentrated mainly in the western and eastern regions of the capital as in previous quarters.

Hanoi’s Apartment Supply Expands to the Southern Market

In the past two years, Hanoi's primary apartment supply was mainly allocated to the western and eastern parts of the city. Since Q4/2024, new supply has also emerged in the north, particularly with apartment projects in the Vinhomes Co Loa mega-urban area.

From early 2025 to now, the western and eastern regions have continued to dominate new primary supply. Notably, the southern area—after years of silence—has officially introduced new projects, adding to Hanoi's primary apartment inventory. The market’s supply is now more diversified geographically, extending beyond just the west and east.

New Primary Apartment Projects Launch Across Hanoi

Recently, the Greenera Southmark project officially broke ground at 486 Ngoc Hoi Street, Thanh Tri District (Hanoi). The project is developed by Tong Bach Hoa JSC and Tan Hoang Minh Group. It spans about 2.4 hectares and comprises three towers ranging from 25 to 30 stories, positioned as high-end residences, offering approximately 800 units.

Another new project launched in the south is Galia Hanoi, located on Do Muoi Street (Yen So Ward, Hoang Mai District). Developed on a site over 6,000 square meters, it includes one 33-storey tower with 3 basement levels and will contribute nearly 800 luxury units to the Hanoi market.

In addition to these southern projects, a new western project has also launched: FLC Premier Parc Dai Mo, situated on Le Quang Dao Street (Dai Mo Ward, Nam Tu Liem District). This development spans about 65,000 square meters and offers a mix of villas, townhouses, and apartment buildings. Its Hausman apartment block will be 12 stories high and supply around 500 new units.

Riding the Wave of Market Recovery

Commenting on recent developments, Mr. Nguyen Van Dinh, Chairman of the Vietnam Association of Realtors, noted that the growing supply of primary apartments reflects the government’s effective measures in addressing legal bottlenecks in project approvals. Increased public investment is also improving infrastructure, while positive economic indicators in Q1/2025 are boosting both supply and demand. Supply in Q2/2025 is expected to rise by around 30% compared to the previous quarter—clear signs of a robust market recovery. New launches are benefiting from this recovery momentum.

Housing Market Expected to Remain Vibrant Through Year-End

Not only is supply increasing, but prices on the primary market continue to rise—even though secondary market prices have remained flat or slightly declined in some projects. Mr. Dinh argued that a sharp decline in primary apartment prices is unlikely despite the influx of new supply, due to rising material and labor costs. Moreover, the new 2024 Land Law sets land prices based on market principles and abolishes the old pricing framework, paving the way for a new real estate price baseline. Population growth in major cities like Hanoi also contributes to strong ongoing housing demand.

According to Mr. Dinh, the real estate market, especially the apartment segment, is expected to continue growing in upcoming quarters. The rollout of new laws related to real estate is creating a more transparent legal environment that encourages supply growth. Additionally, the planned administrative mergers of provinces and cities are expected to create new investment opportunities for the future.