ANTD.VN - The apartment segment dominates the real estate market due to the ever-increasing demand, the apartment type becomes the main product line to meet real housing needs. Good projects make buyers hunt, even sell out.
Demand increased sharply
Near the end of 2024, the Hanoi apartment market witnessed significant supply growth, while transaction volume was bustling. Many research units pointed out that the supply and consumption of apartments in Hanoi recently reached the highest level since 2021.
According to CBRE, in the third quarter of 2024, the supply of new apartments in Hanoi reached 8,277 products. It is expected that by 2026, Hanoi will provide about 38,000 apartments. Cushman & Wakefield estimates that in the fourth quarter of 2024, about 8,900 new apartments will enter the market.
Further, from 2025, about 110,000 apartments may be launched on the market, according to Savills.
It is worth noting that, according to experts, this large supply cannot meet the ever-increasing demand in the Hanoi market, mainly due to the impact of urbanization and mechanical population growth. The absorption rate has been increasing continuously in recent times and the price has not been able to "turn around" yet, proving this.
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| Additional supply still cannot meet demand |
According to statistics in 2023, Hanoi's population reached nearly 8.5 million people, but 12 inner-city districts "shouldered" over 45%, about 3.8 million people, although they only accounted for 9% of the area. In terms of mechanical population growth rate alone, Hanoi recorded an annual mechanical population increase of about 200,000 people, creating enormous pressure on the city's infrastructure. Not to mention, the large number of students enrolling each year further increases the demand for housing. Currently, there are nearly 600,000 university students in Hanoi.
Forecasts show that by 2025, Hanoi's population is expected to reach 9 million people, with an urbanization rate of about 62%. The population living in urban areas will increase from 4,138,500 people in 2022 to 5,580,000 people in 2025, equivalent to 120,000 new urban households each year.
According to the Hanoi housing development plan, the total demand for the period 2022 - 2025 is 185,200 houses, including 166,600 apartments. Thus, in comparison, the demand for apartments is and will continue to far exceed the supply.
In the long term, the Hanoi Capital Planning for the period 2021-2030, with a vision to 2050, forecasts that the permanent population by 2030 will increase to about 10.5 million people. With the current population distribution rate, the real demand for this type of apartment will be very high in the coming time.
Experts generally agree that with the rapidly increasing population, apartments are becoming the first choice of residents as they are a flexible type of building and can meet the greatest housing needs on the same land fund.
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| Apartments increase in popularity when best meeting real housing needs |
Apartments enter new cycle, customers decide quickly to catch the "last chance"
Demand is too high, supply is still not enough to meet the demand, and a series of factors combine to push apartment prices up. Notably, although the average primary apartment price in the third quarter of 2024 reached VND 72 million/m² (excluding VAT & maintenance costs), causing a "temporary shock" reaction, in the period to 2030, this is just the beginning of a new growth cycle - according to Mr. Tran Quang Trung, Business Development Director of OneHousing. Mr. Trung added that in 2025, the apartment market will have more "super luxury" projects, products that are not for the majority.
Given these developments, many customers with real housing needs believe that this is the right time to put down money, when investors launch products at the end of the year with many flexible policies and before entering a new price increase period. The challenge is to find a project that is financially suitable and ensures the homeowner's living standards.
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| Projects that are financially suitable and ensure the living standards of homeowners are sought after |
For example, at the Hanoi Melody Residences project (Tay Nam Linh Dam Urban Area, Hoang Liet Ward, Hoang Mai District), the number of customers coming to inquire about the project has increased dramatically in recent days. The price, utility planning and the "profitable" location near the most important roads in Hanoi are the factors that customers mention the most.
Ms. Tran Thi Hong, a customer of this project, said that she was quite surprised when the project had a price of 62 million VND/m2, while the internal utility planning was the best in the area, surrounded by green space. According to Ms. Hong, this price was the lowest among the new projects in the inner city that this customer came to learn about. The selling price varies by floor, apartment direction... but in general, it is still quite affordable for buyers with average income .
“ I think this is the last opportunity to buy a house in the inner city with high-end amenities at such a price,” Ms. Hong added.
This is also the common mentality of many home buyers as soon as they find a suitable project, before the new growth cycle. Many customers even close their apartments very quickly due to fear of missing out on the opportunity to own, contributing to the vibrant appearance of the apartment market in the last days of this year.
Source: https://www.anninhthudo.vn/ha-noi-luc-cau-sieu-lon-chung-cu-tiep-da-nong-tung-ngay-post597486.antd
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