The Q3/2023 report on the Hanoi housing market published by JLL shows that the average primary selling price of high-end apartments in Hanoi reached 2,664 USD/m2 (about 64 million VND), down 12.56% quarter-on-quarter. However, this is the average figure, in reality, the selling price of some famous projects is much higher.
Mr. Tran Quang Trung - Business Development Director, OneHousing said that in 2023, according to OneHousing statistics, the selling price at high-end projects in Hanoi will reach 90-100 million VND/m2.
However, in the last days of December 2023, the market recorded a project with an asking price of up to 150 million VND/m2.
Hanoi apartment prices up to 150 million VND/m2
Heritage West Lake of the investor Capital Land - Hien Duc Joint Stock Company is one of the apartment projects with the highest price on the market (excluding Masterise Hang Bai with a price exceeding 1 billion VND/m2).
Currently, on many real estate classifieds sites, Heritage West Lake is being advertised for sale with a huge price difference, from 94 million VND/m2 to 151 million VND/m2.
Heritage West Lake is the most expensive apartment project in Hanoi, up to 150 million VND/m2 (excluding Masterise Hang Bai). Screenshot.
Specifically, on the same website batdongsan.com.vn, a broker posted an advertisement to sell Heritage West Lake apartments at a price of about 94 million VND/m2. For example, a 3-bedroom apartment with an area of 145m2 to 150m2 costs from 13.6 billion VND (equivalent to 9.37 million VND/m2), a 4-bedroom apartment with an area of 180m2 costs 18 billion VND (100 million VND/m2).
Owner sells 4-bedroom apartment at Heritage West Lake project, 4 bedrooms, 180m2, price 18.5 billion VND.
Meanwhile, corner apartments are much more expensive. A 4-bedroom corner apartment of 180 square meters is on sale for VND25.8 billion (about VND143 million/square meter). A similar apartment costs up to VND27.5 million/square meter (VND152 million/square meter).
Heritage West Lake is built on a land fund of 8,971m2, including 3 apartment towers of 25 floors. The project includes 173 apartments, 202 office apartments, offices for rent, and commercial service areas.
There is no shortage of apartments priced at nearly 100 million VND/m2.
It can be seen that in the Hanoi market, there is no project that can compete with Heritage West Lake in terms of price. However, it is not difficult to find a few projects with prices of nearly 100 million VND/m2.
In the last 2 months of 2023, the Western real estate market was stirred up when a project appeared with a price of up to 100 million VND/m2. The location is the Lumi Hanoi apartment complex of CapitaLand Development (Singapore).
This project consists of 9 towers from 29 to 35 floors high on a total land area of nearly 5.6 hectares, providing about 4,000 apartments to the market. The average price of the project is from 80-100 million/m2.
Currently, in Hanoi, real estate near West Lake is highly valued. Therefore, it is not surprising that most of the projects with the highest prices on the market are located near West Lake. However, the supply in this area is quite scarce. Most of the projects on the market have been handed over and put into use. Only a few projects are being offered for sale. Han Jardin is one of them. On social networks, Han Jardin products are offered for sale from over 70 million VND to 100 million VND/m2.
A homeowner is selling a 4-bedroom apartment of 142 square meters at Han Jardin for 15 billion VND (equivalent to 106 million VND/square meter).
Despite not having the advantage of being near West Lake, T&T Capella is still being sought after by people because it is located in one of the four central districts of Hanoi. Located on the “golden land” of Pham Ngoc Thach, T&T Capella is being offered for sale at prices ranging from nearly 70 million VND to nearly 90 million VND/m2.
A member of the news site Batdongsan.com.vn is selling a 2-bedroom apartment of 68.58 square meters at T&T Capella for 6.1 billion VND (about 89 million VND/square meter).
It can be seen that these are projects with outstandingly high prices in the Hanoi real estate market. Projects currently on sale such as Grand Sunlake, Berriver Jardin, The Matrix One, Hanoi Melody Residences, Rue De Charme, ... have much lower prices, around 50 million VND/m2.
Currently, it is very difficult to find an apartment priced under 30 million VND/m2.
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