Hanoi apartment prices draw level with HCMC

By Ngoc Diem   June 30, 2024 | 05:42 pm PT
Hanoi apartment prices draw level with HCMC
An apartment building in Hanoi. Photo by VnExpress/Ngoc Diem
The average Hanoi apartment price matched that of HCMC last month at VND50 million (US$1,965) per square meter, according to data from property listing platform Batdongsan.

Dinh Minh Tuan, director of business at Batdongsan, said prices have risen to a high level in HCMC and therefore their growth rate is now slowing down.

But they would continue to rise in Hanoi because of low supply, he added.

Vo Huynh Tuan Kiet, director of CBRE Vietnam’s housing marketing department, said Hanoi prices have been soaring since early last year due to low supply.

Only 10,300 units entered the primary market last year, the lowest in 10 years.

Many developers who have been successful in HCMC are now launching projects in Hanoi where they see high potential, he added.

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