"Shocking" price of apartments in the west of Hanoi: Nearly 100 million VND/m2

50 million VND/m2 is available, almost 100 million VND/m2 is also available.

According to Dan Tri reporters, apartment prices in some projects in the western part of Hanoi are being offered very high, up to nearly 100 million VND/m2. The supply is mostly in the mid-range and high-end segments.

For example, an apartment at the Masteri West Heights project reached nearly 100 million VND/m2, setting the peak price for the entire western area of Hanoi.

A broker selling apartments in this project said that in addition to the two buildings A and D that have been handed over to customers, the investor is opening new sales for apartments in the two buildings B and C of the project. In the price list, the broker introduced an 80m2 apartment with 3 bedrooms and a lake view with a selling price of 6.4-6.9 billion VND, equivalent to 80-86 million VND/m2.

"Currently, apartments with lake views are the most expensive in the project. A 62m2 apartment with an internal view costs nearly 72 million VND/m2, but a 61m2 apartment with a lake view costs 87 million VND/m2," the broker gave an example.

Mức giá gây sốc của chung cư phía tây Hà Nội: Gần 100 triệu đồng/m2 - 1 — The supply of apartments in the west of Hanoi is mainly concentrated in the Vinhomes Smart City urban area (Photo: Ha Phong).

The investor of the above project is also implementing 3 Masteri Lumiere Evergreen apartment buildings. The building is open for sale, expected to hand over apartments in mid-2026. The selling price on buying and selling sites ranges from 62-79 million VND/m2, with some apartments in good locations costing nearly 100 million VND/m2.

Also located in the core area of Vinhomes Smart City urban area, The Canopy Residences project with more than 1,700 apartments is being built by investor GIC Group. Located next to the Masteri West Heights project, the opening price of The Canopy Residences apartments in the first phase ranges from 62-69 million VND/m2, due to different segments.

In addition to the projects that are being opened for sale, the price of apartments in affordable subdivisions that have been handed over by the investor to residents in the Vinhomes Smart City urban area is fluctuating from 52 to 55 million VND/m2. At the beginning (around 2020), the average price of this apartment was 37 million VND, some apartments in bad locations were priced at 33 million VND/m2.

The prices of apartments currently on sale at Vinhomes Smart City are mostly higher than other apartment projects in the area. For example, the Moonlight 1 - An Lac Green Symphony project (Hoai Duc district) has an asking price of around 39-42 million VND/m2; the Hoang Thanh Pearl project (Nam Tu Liem district) has an asking price of around 45-50 million VND/m2...

Only a few, not common

Sharing with Dan Tri reporter, Mr. Nguyen Thai Yen, a manager of a real estate transaction office in the western area of Hanoi, said that the price of apartments in the western area, specifically in Vinhomes Smart City urban area, has increased rapidly in recent times. His office has successfully transacted with high-end, luxury apartments.

Regarding the buyers, he said that most of them buy to live and are "people with money" who do not use too much financial leverage. Most of the customers already have different real estate in the suburbs and the center. Buying apartments in other areas like above is for relatives and family members to live in due to the location.

Speaking to Dan Tri reporter, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - did not deny that the price of apartments in the west has increased rapidly in recent times. In particular, apartments in some high-end, luxury apartment projects in this area have peaked at nearly 100 million VND/m2.

According to him, the real estate market is operating according to the market mechanism. If supply meets demand, prices will decrease, and conversely, if supply does not meet demand, prices will increase.

This expert also emphasized that it is the scarcity of supply that has caused apartment prices to increase. "To regulate apartment prices, we cannot force investors to reduce prices. Therefore, the only way is for the State to speed up the removal of obstacles, speed up investment procedures for new projects to increase supply, then apartment prices will decrease," Mr. Diep proposed a solution.

Mức giá gây sốc của chung cư phía tây Hà Nội: Gần 100 triệu đồng/m2 - 2 — A corner of real estate in the western area of Hanoi (Illustration: Ha Phong).

Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association - said that the demand for housing of people in big cities is still very high. Meanwhile, in real estate projects, the investment preparation stage is prolonged, making it impossible to immediately meet the supply. Many projects are stalled due to legal problems, so apartment prices are unlikely to decrease and may even increase.

According to Mr. Dinh, the reason for the continuous increase in apartment prices is due to the continuous improvement in real estate prices in recent years. Some input costs have increased, pushing up apartment prices.

According to Mr. Dinh, the price of apartments in the western part of Hanoi reaching a high level of nearly 100 million VND/m2 is not a popular, mass product. If the price of apartments in this area were popular and increased at this price level, it would be unusual.

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