Hanoi Q2 Apartments Hit VND95 Million Per Square Metre As Sales Slow

Hanoi's apartment market entered a new phase in the second quarter, with new supply reaching a five-year high while high primary prices and borrowing costs slowed buyer absorption.

Supply Returned At Premium Prices

CBRE's Hanoi update reported about 16,600 new apartments launched in the first half, the strongest first-half supply since 2020. No new project was priced below VND60 million per square metre for a second straight quarter.

Central And Near-Central Projects Lifted The Average

More than 3,000 units priced above VND120 million per square metre were launched in areas including Thanh Xuan, Tay Ho and Dong Anh. The primary average reached about VND95 million per square metre, up sharply from the previous quarter and last year.

Absorption Is Less Automatic

Second-quarter apartment transactions were about 5,800 units, equal to roughly 68 percent of newly launched units. That is much lower than the absorption levels seen during the earlier shortage phase, showing buyers are more cautious about financing and cash flow.

Buyer Checks

Purchasers should compare primary and resale prices, mortgage rates, handover timing, legal approvals, infrastructure plans and whether secondary prices are already easing nearby. Premium launch pricing should be tested against actual household affordability.

Outlook

Hanoi's fundamentals remain strong, but the market is no longer supply-starved at any price. Projects with realistic financing support and genuine connectivity should outperform luxury-priced launches with weak absorption.

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