In the context of the market preparing to change, the current period is the golden time for investment, the Southern apartments are "quietly" increasing in price, the urban area with the highest land price in Hanoi is revealed... are the latest real estate news.
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| Since the beginning of the year, the Hanoi real estate market has continuously recorded price increases for most types of real estate. (Source: DN&TT) |
The market establishes a new price level
The adjustment of land price lists in major cities such as Ho Chi Minh City and Hanoi is creating a strong signal for a comprehensive price increase trend. The new land price list in Ho Chi Minh City has been effective since October 2024 with the highest price reaching VND 687.2 million/m² in District 1. Meanwhile, in Hanoi, the adjusted land price list has brought the price in Hoan Kiem District to over VND 695 million/m², significantly higher than in Ho Chi Minh City. Compared to the old price list, the adjusted land price list in Hanoi is 2-6 times higher.
According to the revised Land Law, the national land price list is expected to officially apply from the beginning of 2026. This is an important turning point, because in history, there has never been a precedent of land prices decreasing after each new price list is announced.
For example, in the period 2015 - 2019, when the new land price framework was applied, land prices in Hanoi increased by 10 - 20%. Similarly, the period 2020 - 2024 also recorded an average increase of about 15% when the national land price framework was adjusted. This trend shows that the new land price list in 2026 will establish a higher price level than the current one. This will significantly affect the investment decisions of many people.
In the context of the market preparing to change, the current period is the golden time to invest in real estate. Before the new land price list is officially applied, real estate prices are still at a relatively reasonable level. This is a great opportunity for investors to own assets at lower prices, avoiding the pressure from price increases when the new land price frame is applied.
Investing at this stage also helps to increase the value of the property quickly. In fact, when land prices are adjusted according to the new price frame, the value of the property of early investors will increase dramatically. This is a clear competitive advantage, especially when the market gradually "heats up" as investors begin to join.
In addition, areas with strong potential for infrastructure and economic development are often attractive destinations for investors. For example, neighboring provinces of Ho Chi Minh City such as Dong Nai, Binh Duong or Long An are all benefiting greatly from key infrastructure projects. These areas not only increase real estate value but also create many great profit opportunities thanks to the boom in housing demand.
Southern apartments "quietly" increase in price
Since the beginning of the year, the Hanoi real estate market has continuously recorded price increases for most types of real estate. Unlike Hanoi apartments, apartment projects in Ho Chi Minh City have still recorded stable price increases, with some projects even experiencing strong growth.
According to CBRE Vietnam's Q3/2024 report, in Ho Chi Minh City, new supply is low but absorption rates are improving. Specifically, in Q3, Ho Chi Minh City had less than 130 new apartments for sale, coming from the next phase of projects that have been opened for sale, located in districts far from the center.
Although the official supply for sale is low, the bright spot of the Ho Chi Minh City market in recent times can be mentioned as the market has nearly 300 apartments re-offered from projects that have temporarily stopped selling in the past 1-2 years in Thu Duc City, District 7 and about 2,700 apartments that have not officially opened for sale have started accepting reservations, expected to open for sale in the near future.
In addition, most of the projects with remaining inventory for sale recorded positive sales rates, with more than 2,000 apartments successfully transacted in the quarter, nearly double that of the previous quarter. Investors continued to apply many sales policies such as discounts based on payment methods, diversified payment schedules, loan interest support, rental commitments, etc.
Some projects in the booking stage with high expected selling prices also cause buyers to consider neighboring projects with primary products for sale of similar quality but lower selling prices and early handover.
As of Q3/2024, the primary selling price of apartments in Ho Chi Minh City reached VND66 million/m2 of net area, up 4% quarter-on-quarter and nearly 8% year-on-year, largely due to old projects adjusting their selling prices in the new opening phase, such as D-Homme (District 6), D-Aqua (District 8) and Lavida Plus (District 7) all adjusted their primary selling prices up by 10% - 30% compared to the previous phase's selling prices.
The secondary market in Ho Chi Minh City continued to increase slightly this quarter, increasing by an average of 3% quarter-on-quarter and 5% year-on-year, reaching an average of VND48 million/m2 of net floor area in the third quarter. Most apartment segments recorded an increase in secondary selling prices this quarter.
Notably, the Saigon Pearl project has an impressive price increase – up to 34% in the past year. Currently, the common selling price is fluctuating around 83.2 million VND/m2, according to data from Batdongsan.com.vn.
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| Perspective of social housing area at CT3 plot - Kim Chung new urban area, Dong Anh district, Hanoi. (Source: Investor) |
Hanoi is about to have more than 1,000 affordable housing units.
The joint venture of investors Handico and Viglacera plans to start construction of CT3 project under the social housing construction investment project at plots CT3, CT4 - Kim Chung New Urban Area, Dong Anh District (Hanoi) in early 2025.
According to information from the Project Management Board, the People's Committee of Dong Anh District is speeding up the progress of site clearance in December 2024. It is expected that in January 2025, the Hanoi People's Committee will decide to allocate land for the joint venture investor to carry out the steps to start the project.
According to the approved plan, the CT3 land plot will build 3 high-rise apartment buildings, each building is 12 floors + 1 attic. The total construction floor area is over 109,000 m2, with a total of 1,104 apartments, and a population of nearly 4,000 people.
At land plot CT4, the social housing project has completed construction investment and put into use since the fourth quarter of 2021 with a 12-storey apartment building + 1 attic, a total of 484 apartments meeting the housing needs of more than 1,500 people.
Regarding the project at land plot CT5, the representative of the joint investor said that they are actively coordinating with the People's Committee of Dong Anh district to remove difficulties and obstacles in compensation and site clearance as well as arranging resettlement land for people.
On the other hand, the consortium is studying a report from the city to allow the adjustment from a worker housing project to social housing to further expand the subjects accessing this type of policy housing, suitable for the affordability of the majority of people.
Revealing the urban area with the highest land price in Hanoi
According to Hanoi's adjusted land price list, Tay Ho Tay urban area (Tay Ho district) is the urban area with the highest land price at over 113 million VND/m2.
The above price belongs to the most beautiful location of the urban area (location 1) with a 60m road section, part of Tay Ho district, an increase of 225% compared to the land price list issued in 2019 (34.8 million VND/m2).
Also in the Tay Ho Tay urban area, the location with a 60m road frontage but in Bac Tu Liem district has a price of nearly 108 million VND/m2, an increase of 210%.
According to Hanoi's adjusted land price list, there are 5 urban areas with land prices over 100 million VND/m2 on major road frontage.
In addition to the Tay Ho Tay urban area (commercial name is Starlake), the Nam Trung Yen urban area with a 40m road section has a price of 109.3 million VND/m2, the Thanh Pho Giao Luu urban area with a 50m road section has a price of nearly 104.3 million VND/m2, the Diplomatic Corps area has a price of nearly 108 million VND/m2 at a 60m road section, and the My Dinh - Me Tri urban area has a price of nearly 101 million VND/m2 at a 20-30m road section.
Land prices in suburban urban areas also increased by an average of 175-200%. For example, Lideco urban area (Hoai Duc district) increased from 18.8 million VND to nearly 54.7 million VND/m2, equivalent to an increase of nearly 190%.
Meanwhile, the lowest urban land price in the newly adjusted table in Hanoi is Phu Thinh residential area, Son Tay town with the price of 11.38 million VND/m2, an increase of 175% compared to the old price list.
However, the above prices are still much lower than the buying and selling prices on the market recently.
Surveying the market and real estate trading sites, the prices of houses and land in Tay Ho Tay urban area as well as other urban areas are being advertised for sale at 3-4 times higher. For example, in Tay Ho Tay urban area, the prices of villas and townhouses are being advertised for sale at around 350-400 million VND/m2, apartments are over 100 million VND/m2. There are villas here with advertised prices exceeding 500 million VND/m2.
Source: https://baoquocte.vn/bat-dong-san-thi-truong-chuyen-minh-thoi-diem-vang-de-dau-tu-chung-cu-phia-nam-ngam-ngam-tang-gia-noi-gia-dat-cao-nhat-ha-noi-298873.html
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