Which projects can stir up the Hanoi real estate market at the end of the year?

Bright spot in year-end supply

Savills' Q3/2024 market report said that in the first 9 months of 2024, Hanoi recorded more than 12,000 newly launched apartments, mainly concentrated in the West and East of the capital. The purchasing power of the market is very positive when the total number of apartments sold in both the primary and secondary markets in 9 months reached 17,000 units. The third quarter dominated transactions with about 7,000 units, up 35% quarter-on-quarter and 226% year-on-year. The West dominated the market, accounting for 63% of primary supply and 78% of transactions in the quarter.

According to Savills, Hanoi is expected to welcome 9,700 new apartments in the last quarter of the year, of which 88% will come from the next phases of large projects, mainly concentrated in the metropolitan areas in the West and East of the city. Thus, the West and East of Hanoi continue to establish their position as the kings in terms of supply and transactions.

The last 2 buildings of The Sola Park subdivision promise to become a hot spot in the Western apartment market.

Vinhomes Smart City is expected to continue to be the center of attention in the Western real estate market at the end of the year when the last supply of apartments in this metropolis is officially introduced to the market. The last supply comes from The Victoria subdivision and the last two buildings of The Sola Park subdivision, The Avenue and The Sky.

Previously, the first 3 buildings of The Sola Park became a phenomenon in the real estate market when they quickly "sold out" after a few days of opening for sale. Similarly, The Victoria also "sold out" just a short time after its official launch. This is the basis for the last 2 buildings of The Sola Park about to be launched to be expected to continue to re-establish this achievement.

Apartments continue to lead the market

Apartments have been the market leader in recent years, especially during the period when real estate has faced many challenges. Many experts believe that the market challenges have highlighted the sustainable values ​​of this product line with the following factors: targeting real housing needs, targeting end users, meeting liquidity, cash flow and price increase potential, attracting both real customers and investors.

In addition, a reality of Hanoi real estate that has lasted for many years is the scarcity of new products due to legal procedures and approvals. Market demand is constantly increasing with the rapid urbanization. Low supply and high demand make good products of reputable and branded investors become the focus of the market when launched, creating attraction.

According to Savills data, although the primary supply of apartments in the third quarter improved, it still decreased by 47% compared to the same period last year. This fact will push up house prices in Hanoi further. The primary selling price is currently at VND69 million/m2, up 6% compared to the previous quarter and 28% compared to the same period last year. In the secondary market, the average price of apartments in the third quarter of 2024 is VND51 million/m2, up 10% compared to the previous quarter and 41% compared to last year. The average secondary price has increased by 17% per year since 2020.

The last apartments of The Victoria subdivision are being sought after.

At present, the number of investors with projects for sale can be counted on the fingers of one hand. Investors and real buyers are forced to "sift through the sand" to find valuable products.

These are the reasons why the final supply from The Victoria subdivision and the last two buildings of The Sola Park subdivision, The Avenue and The Sky, are expected to become the focus of the year-end real estate market, attracting customers.

With prime locations in the metropolis, the appeal of The Victoria and The Sola Park is not only due to meeting the market demand but also comes from the unique elements in the product design concept of each project. The unique product concept creates ideal, high-quality living spaces with synchronization and method in planning, utilities and services, making The Victoria and The Sola Park attractive to residents, creating the basis for creating elite and cohesive residential communities.

In addition, the reputation and brand of MIK Group have been affirmed through many large projects in Vietnam, which is a guarantee for the sustainable peace of mind of each customer when deciding to spend money. The final source of goods in the Western metropolis is one of the ideal choices for the purchase and investment of wise customers.

Source: https://dantri.com.vn/bat-dong-san/du-an-nao-co-the-khuay-dao-thi-truong-bat-dong-san-ha-noi-cuoi-nam-20241014174836644.htm