(CLO) Mr. Tran Minh Tien, Director of OneHousing Market Research and Customer Insight Center, had some comments on the Hanoi apartment market in late 2024 and early 2025.
Apartments continue to lead the market
Mr. Tran Minh Tien, Director of OneHousing Market Research and Customer Insight Center, said that in 2025, the apartment segment will continue to be the leading type of real estate market in Hanoi.
Analyzing this issue further, Mr. Tien said: Currently, the number of apartment transactions including primary and transfer types accounts for 55% of the total transactions in the whole market, equivalent to about 46,000 transactions. Every year, Hanoi increases by 200,000 people, the demand for housing is increasing.
Apartments continue to lead the Hanoi real estate market. (Photo: ST)
Besides, apartments are a real type of housing with a relatively affordable price compared to ground-level houses, and legal procedures for bank loans are easier for apartments with red books.
Within the budget of 3-5 billion VND, apartments will still be "favored" when most projects are located on wide roads, fire prevention is guaranteed, and there are many internal and surrounding facilities.
Meanwhile, with the same price segment, townhouses can only be purchased in areas far from the center of Hanoi, or in the center but with limited area and in relatively small alleys.
Finally, with fierce competition and increasing customer demand, investors are increasingly focusing on construction quality and handover standards, accompanied by many preferential sales policies with loan interest support packages and payment extensions.
“This has recently helped apartments become a new investment channel, attracting more customers to buy for investment to accumulate and increase assets, helping to significantly increase absorption in the market,” Mr. Tien shared.
Hanoi apartment prices are forecast to increase by 75% in 2025 compared to the first quarter of 2022.
According to Mr. Tien, apartment prices in Hanoi are forecast to continue to grow in 2025. The average price of newly opened apartments will reach 70 million VND/m2 (excluding VAT and maintenance fees), an increase of 75% compared to the first quarter of 2022.
Updated to the end of the fourth quarter of 2024, the supply of newly opened apartments for the whole year reached about 35,000 units, higher than the previous forecast of 22,000 - 24,000 units. The absorption rate of opened projects reached 80-90% thanks to the diversity of customer types buying for living and investment.
Apartment prices in Hanoi. (Photo: OH)
Due to the vibrant market situation at the end of 2024, many projects were decided to open for sale earlier than expected, causing the total supply in 2025 to reach about 29,000 apartments - a slight decrease compared to 2024.
Of which, the Eastern area of Hanoi accounts for 48% of the total new supply; the Western area previously accounted for the second proportion, while the Northern and Northeast areas emerged as a "promised land" for the apartment segment.
“The shift in primary supply by investor will continue to take place strongly in 2025. New projects in the North and East of Hanoi will contribute to diversifying the supply of apartments for the market next year,” said Mr. Tien.
Source: https://www.congluan.vn/gia-can-ho-ha-noi-nam-2025-du-kien-se-tang-75-so-voi-quy-1-2022-post326243.html
Comment (0)