According to Associate Professor Nguyen Thuong Lang, the Vietnamese real estate market is entering a period of rapid growth, with many areas showing signs of localized bubbles.
In Hanoi, the prevailing price range is 100-200 million VND/m², even exceeding 300 million VND/m² in prime locations, yet affordable social housing is facing a bottleneck.
According to the latest report from PropertyGuru Vietnam, after the Lunar New Year, apartment asking prices in Hanoi and Ho Chi Minh City have shown signs of stagnation.
According to the new land price list in Hanoi, many streets in Hoan Kiem district have the highest price of 695,3 million VND/m2, but the actual market price is much higher.
According to experts, Hanoi's implementation of a new land price list that is 2 to 6 times higher than before could lead to further increases in housing prices in the near future.
Recently, the land market near the Ring Road 4 project has seen significant growth, with many areas experiencing a 30% increase compared to the beginning of 2024.
Seeing house prices soaring, many people planned to sell their old homes to profit, but unexpectedly found themselves unable to sell them as no one would buy them despite repeated attempts to do so.
The excessively high prices of primary homes have forced many real estate agents to shift to the secondary market and seek more affordable properties in order to maintain their monthly income.
House prices in Hanoi are constantly rising, causing buyers, even those who have paid a deposit, to face situations where homeowners back out of the deal and demand a higher price.
Despite a sharp decline in transactions, the primary market price of landed houses in Hanoi in the second quarter still recorded an 8% increase compared to the previous quarter, reaching nearly 195 million VND/m2.
To help middle-income families save on construction costs, there are increasingly diverse designs for single-story houses with 4 bedrooms costing around 500 million VND.
According to Savills Vietnam, in the first six months of 2021, housing prices in Hanoi continued to rise sharply, especially in the townhouse and villa segments.
Statistics from the Ministry of Construction show that housing prices on the market have not shown a downward trend but have continued to increase compared to the end of 2019.
According to a newly released report by Savills, in the Hanoi market, the average price of primary apartments is currently at US$1.460/m2, stable quarter-on-quarter and up 10% year-on-year.