Rich Hanoians look to buy luxury apartments across the country

The luxury and super luxury apartment segment with prices ranging from 80 million VND/m2 to billions of VND/m2 is attracting the attention and purchase interest of rich people in Hanoi.

High-end, luxury apartments are the choice of the wealthy in urban areas - Photo: NAM TRAN

The report on the overall real estate market and the focus of the apartment market published by Batdongsan.com.vn on November 13 noted that the trend of high-end and luxury apartments is gradually taking up a larger proportion of the total apartment supply in big cities such as Hanoi, Ho Chi Minh City, and Da Nang.

Luxury and super luxury apartments account for 22% of apartment supply

The structure of apartment buildings in major cities in the third quarter of 2024 is as follows: Affordable apartments (selling price under 35 million VND/m2) account for 1%, mid-range apartments (selling price 35 - 55 million VND/m2) account for 32%, luxury apartments (selling price 55 - 80 million VND/m2) account for 45%, luxury and super luxury apartments (selling price from 80 million VND/m2 or more) account for 22% of the total apartment supply.

According to Mr. Nguyen Quoc Anh, Deputy General Director and Business Director of Batdongsan.com.vn, the proportion of luxury and super luxury apartments in the total supply of apartments in major cities across the country.

Specifically, in Hanoi, the proportion of luxury and super luxury apartments in the total apartment supply increased from 2% (quarter 1-2020) to 22% (quarter 3-2024).

During the same period, the proportion of luxury and super luxury apartments in Ho Chi Minh City also increased from 5% to 23%.

In addition, from the first quarter of 2020 to the third quarter of 2024, the proportion of luxury apartments in the total apartment supply in Hanoi also increased rapidly from 4% to 45%. Similarly, in Ho Chi Minh City, the proportion of luxury apartments also increased from 23% to 28%.

Regarding the number of people looking to buy luxury and super luxury apartments in 2024, Mr. Anh said: Hanoi leads in the rate of people looking for luxury and super luxury apartments in 2024.

Specifically, Hanoians account for 43% of the total number of people looking to buy luxury and super luxury apartments, while Ho Chi Minh City accounts for 33%, Dong Nai 1%, Da Nang 1%, Hai Phong 2%, and other provinces 20%.

One surprising thing is that in terms of the level of interest in luxury and super luxury apartments by region, it is as follows: Hung Yen received 44%, Da Nang 15%, Hai Phong 9%, Quang Ninh 7%, Khanh Hoa 6%, Kien Giang 4%, other provinces 12%.

Standing out in the luxury and super luxury apartment segment are branded products priced from several hundred million VND/m² to billions of VND/m².

Up to now, many investors have developed this type of real estate with famous brands such as The Grand Hanoi, Grand Marina Saigon invested by Masterise Homes, Noble Crystal Tay Ho invested by Noble, Nobu Danang invested by VCRE.

Vietnam Real Estate Market Overview Conference 2024 held on November 13 - Photo: B.NGOC

Real estate market will flourish in the second quarter of 2025

According to data from Batdongsan.com.vn, apartments are a type of property with a fairly stable level of interest and sales and rental prices in the period 2021-2024.

The level of interest in and search for apartments has remained high in recent years, while selling and rental prices have increased.

The average apartment selling price in the first quarter of 2021 is 35 million VND/m², the rental price is 10 million VND/apartment.

By the third quarter of 2024, the average apartment selling price will increase to 51 million VND/m², and the rental price will be 12 million VND/apartment.

In the Northern market, the level of interest in buying apartments in recent years has increased more strongly than in the Southern region.

Forecasting the national real estate market in the coming time, Mr. Anh commented that from now until the first quarter of 2025, the market will continue to be in a consolidation phase, buyers will still focus on real housing needs, the most chosen products are private houses and townhouses. The development of the market in this period depends a lot on project legality, financial resources and monetary policy.

From the second quarter to the fourth quarter of 2025, the real estate market will enter a period of prosperity, with buying and selling demand focusing on land and project villas.

And from the first quarter to the fourth quarter of 2026, the market will enter a stable cycle, with liquidity increasing in all types of real estate.

Source: https://tuoitre.vn/nguoi-giau-ha-noi-tim-mua-chung-cu-hang-sang-khap-ca-nuoc-2024111314054895.htm