In the Hanoi market, most newly opened projects have prices ranging from 65 to 80 million VND/m2. Some apartments are even offered for sale at up to 96 million VND/m2. With 3 billion VND in hand, customers find it difficult to find a satisfactory apartment.
In the Hanoi market, most newly opened projects have prices ranging from 65 to 80 million VND/m2. Some apartments are even offered for sale at up to 96 million VND/m2. With 3 billion VND in hand, customers find it difficult to find a satisfactory apartment.
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| New apartment projects in Hanoi are mostly concentrated in Nam Tu Liem district or Gia Lam district. In the photo: Vinhomes Ocean Park 1 project. Photo: Dung Minh |
Looking for a small apartment far from the center
According to the investigation of the Investment Newspaper reporter, in the central districts of Hanoi such as Dong Da, Thanh Xuan, there are almost no new projects. Some old projects have common prices of about 80 - 100 million VND/m2, small apartments are also about 70 m2. Thus, with a budget of 3 billion VND, it is difficult to "hunt" in this area.
New apartments priced at around 3 billion VND are mostly located in Nam Tu Liem or Gia Lam districts. The area ranges from 42 - 48 m2, equivalent to a 1-bedroom apartment.
Specifically, at Vinhomes Ocean Park 1 Urban Area (Gia Lam District), The Senique Project of investor CapitaLand is opening for sale 42 m2 apartments with prices ranging from 2.8 to 3.2 billion VND, depending on the floor. The expected handover date is the third quarter of 2027.
Also located at Ocean Park 1, The London subdivision - a product of the "handshake" between Mitsubishi Corporation and Vingroup, is offering 43 m2 apartments for sale at prices of 2.8 - 3.1 billion VND. The handover date is August 2026.
Another new project also located at Ocean Park 1 and with the same investor as The London is The Paris subdivision. The project will be opened for sale in November 2024, with an average price of about 68 million VND/m2. According to a broker, 1-bedroom apartments, equivalent to an area of 48 m2, are being offered for sale at around 3.2 billion VND. The expected handover date is in 2026.
On sale in November, apartments in The Lake subdivision (Gia Lam) of investor Masterise Homes are priced at around 74 - 85 million VND/m2. Currently, 1-bedroom apartments with an area of 41.2 m2 are being advertised by brokers at 3.1 billion VND. The expected handover date is 2027.
In addition to the above projects, those who want to receive their house soon can refer to The Zurich subdivision of Ocean Park 1. This project will start handing over houses in the third quarter of 2025. However, the apartment fund opened for sale by the investor has run out, buyers will have to look for transferred apartments on the secondary market. Currently, a 1-bedroom apartment with an area of 41.8 m2 costs 2.4 billion VND. For a small 2-bedroom apartment of about 53 m2, the price will be around 3.3 billion VND.
Leaving Vinhomes Ocean Park1 urban area, buyers can choose new projects in Nam Tu Liem district. With the Imperia Sola Park project of investor MIK Group, the common selling price is around 65 - 76 million VND/m2. In particular, 1 bedroom +1 apartments, corresponding to an area of 43 m2, will cost 3.1 - 3.3 billion VND. The apartments here will be handed over in 2027.
Still the investor MIK Group, The Victoria subdivision at Vinhomes Smart City is selling 30.7 m2 studio apartments for 2.6 billion VND. If the financial level is increased to 3.5 - 3.8 billion VND, buyers will own 1-bedroom apartments with an area of 44 - 47 m2. Similar to Imperia Sola Park, the project will hand over houses in 2027.
Nam Tu Liem District is also home to the Lumi Hanoi Project. The product from the investor CapitaLand is currently priced at an average of VND80 million/m2. On the transfer market, 1-bedroom apartments of 42 m2 are being resold for VND3.35 billion. This figure is about VND300 million higher than the price announced by the investor in the first sale in April 2024. The expected handover date is 2026.
The market has almost no affordable apartments left.
In addition to Gia Lam and Nam Tu Liem districts, homebuyers can look to the northern part of the capital. Currently, the Masterise Grand Avenue project (Dong Anh district) is selling studio apartments with an area of 31 m2 for about 3 billion VND. With a selling price of up to more than 96 million VND/m2, this can be considered one of the most expensive new projects in this area. The expected handover time is in the second quarter of 2027.
According to the report of the Ministry of Construction, in the third quarter of 2024, the primary apartment market in Hanoi increased in price by about 4 - 6% quarterly and 22 - 25% annually. 
Projects in the remote areas of Ha Dong district have the lowest prices on the list. For VND3.5 billion, buyers can find a 67 m2 2-bedroom apartment at CT4 Yen Nghia apartment building. Previously, the project was positioned by the investor in the mid-range segment. However, after many sales and "passing through" the transfer market, the price has continuously increased, currently at VND52 million/m2. According to the broker, the project is in the process of handing over houses.
Some other new projects such as Wisteria (Hoai Duc district), QMS Top Tower (Nam Tu Liem district), Handico Complex (Thanh Xuan district)... not only have high prices, from 65 - 80 million VND/m2, but the area of the apartments is relatively large, the smallest apartment is about 60 - 70 m2. Therefore, it is impossible for people who want to find a house within the financial range of 3 billion VND.
According to a recent report by the Ministry of Construction, in the third quarter of 2024, the primary apartment market in Hanoi increased in price by about 4-6% quarter-on-quarter and 22-25% year-on-year. Some areas recorded local increases of up to 35-40% compared to the previous quarter.
Even when listing the selling price information of new apartments in the capital, the Ministry of Construction itself could not find any projects priced below VND40 million/m2. As for the affordable apartment segment, the Ministry affirmed that the market has almost no transactions and products for sale.
“The reason for the recent increase in real estate prices is largely due to the impact of a number of factors such as increased fluctuations in land-related costs; affordable housing products are not in sufficient supply to meet market demand,” the Ministry of Construction explained about the price increase of apartments.
Source: https://baodautu.vn/batdongsan/voi-3-ty-dong-nguoi-ha-noi-di-dau-de-mua-chung-cu-moi-d229650.html
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