Real estate after Tet: Apartment prices stagnate, land prices show signs of heating up

According to experts, before the Lunar New Year of At Ty in 2025, the demand for real estate decreased significantly, however, in just the first week after Tet, the search index for buying apartments and real estate increased again.

According to real estate market research experts, after the Lunar New Year of At Ty in 2025, the real estate market has shown "signs" of improvement when the number of listings and the level of interest in real estate have changed positively.

Among the types of real estate that investors and people are interested in, land and apartments are noted to have a stronger recovery in both interest and listings, especially when apartment prices are showing signs of slowing down.

Interest in real estate increased 4-6 times

Informing reporters of VietnamPlus Electronic Newspaper, at noon on February 13, a representative of Batdongsan.com.vn said that before and during the Lunar New Year 2025, the demand for real estate searches decreased significantly, but in just the first week after Tet, the indexes increased sharply again. In Hanoi and Ho Chi Minh City, the level of interest in real estate increased 4 to 6 times compared to before Tet.

The number of apartment listings for sale and rent in the week after Tet in the above cities was also about 4 times higher than the week before Tet.

In January 2025, real estate business activities also showed many improvements. The number of newly registered businesses reached 273, an increase of 65% over the same period in 2024; the number of businesses returning to operation reached 974, an increase of 51%. These signals from both real estate customers and businesses show a more open and positive market sentiment.

Data from the real estate market research unit also reflects the outstanding developments in each locality. For example, in Hanoi, in the sales segment, in January, buyers' search demand focused on apartments in the West (Nam Tu Liem and Ha Dong districts); suburban land mainly in Long Bien, Ha Dong and Hoai Duc districts; private houses in densely populated districts such as Dong Da, Hoang Mai and Long Bien.

Localities such as Hai Phong and Hung Yen also recorded high real estate searches. Of which, Hai Phong with its deep-water port and strongly developed industrial zones is attracting the attention of many investors. Hung Yen benefits from its location “next door” to Hanoi and the rapid development of new urban areas, so the demand for land and villas is also increasing.

In Ho Chi Minh City, in January, most of the customers' interest in land plots was concentrated in District 9. Meanwhile, customers' demand for apartments was mainly looking for apartments in District 2 and District 7. As for private houses, Binh Thanh and Go Vap were the districts that attracted the most interest.

Provinces such as Binh Duong, Dong Nai, and Vung Tau also continue to record a large amount of interest in real estate from investors. In particular, Binh Duong and Dong Nai are two provinces with many industrial parks, a large number of workers and experts living here, creating high demand for residential and rental real estate.

Notably, Da Nang city is recognized as the leading locality in the country in terms of interest in the land segment in January 2025. Currently, Da Nang still maintains its position as one of the attractive real estate markets thanks to its developed tourism and modern transport infrastructure.

“In many other localities, land is also the type that attracts the most attention at the beginning of this year. In the coming time, with land, there will likely be some localized, short-term increases in temperature in some areas, but it is very difficult to have a comprehensive land price fever like in 2022,” said Mr. Dinh Minh Tuan, a real estate research expert.

There is a possibility of mild heat waves. (Photo: Hung Vo/Vietnam+)

The reason, according to Mr. Tuan, is that the banking sector will still be cautious in lending for investment real estate, especially in provincial markets that were once locally "hot". The change in investment behavior (prioritizing projects with clear planning and utilities) will cause spontaneously divided land to run out of "living" land.

Investors will also prioritize land segments in areas with good infrastructure connections and clear economic and service development potential.

Apartment prices stagnate

A good sign for home buyers is that after Tet, apartment prices in Hanoi and Ho Chi Minh City both showed signs of slowing down.

The average selling price of apartments in the first half of February 2025 in the above cities was 62 million VND/m2 and 57 million VND/m2, respectively (meanwhile, the average price of apartments in Hanoi was 63 million VND/m2; the average price of apartments in Ho Chi Minh City was 60 million VND/m2).

Thus, the selling price of apartments in Hanoi and Ho Chi Minh City is currently slightly decreasing, however, according to real estate experts, this is only a short-term "fluctuation".

Besides, although the real estate market after Tet is changing positively when the number of real estate searches, the number of listings for sale and rent have increased and prices have leveled off, to have better liquidity, many "boosts" are still needed.

In recent times, it has been shown that real estate buyers, who mainly focus on apartments and private houses, are waiting to see if supply is more abundant in the hope that prices will adjust to a reasonable level. On the other hand, given the complicated developments of the world market, investors are also considering investment channels and areas.

Sharing experience from an expert perspective, Deputy General Director of Batdongsan.com.vn Nguyen Quoc Anh said that for those who buy real estate for living, buying at any time is the right time, as long as the buyer has carefully calculated the financial plan and factors to ensure a comfortable life.

“Although many investors and banks support loans up to 80-85% of the product value, if deciding to buy a house, buyers should have at least 30-40% of the 'meat' money available and ensure a stable cash flow in the next 3-5 years to maintain their life. If they still do not have enough finances, they should consider renting a house before deciding to buy,” Mr. Quoc Anh recommended.

Meanwhile, answering the reporter's question about what type of real estate will be an opportunity for investors? Deputy Director of the Department of Housing and Real Estate Market Management (Ministry of Construction) Vuong Duy Dung, emphasized: "This is a difficult question because the story is when to buy, which target, then it is appropriate."

"From the perspective of the Ministry of Construction, I am particularly interested in social housing, housing for low-income people, especially low-income people in big cities like Hanoi and Ho Chi Minh City. Because this is housing with real needs, essentials such as food, water, plus education and transportation," said Mr. Dung./.

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