Hanoi’s Real Estate Market in 2025: A Year of Recovery and Increased Buyer Interest
THE HANOI TIMES — Hanoi’s property market has emerged as a beacon of growth, leading Vietnam’s real estate sector with an impressive 112% surge between 2021 and 2025. This growth outpaces notable cities like Haiphong (71%), Danang (53%), and Ho Chi Minh City (42%), according to recent data from Batdongsan.com.vn. As the city rebounds from economic fluctuations, buyer interest is once again visible, marking a critical turning point in Hanoi’s real estate landscape.
A Resilient Real Estate Sector
The Vietnamese real estate market has shown remarkable resilience amid macroeconomic changes. Major urban centers, including Hanoi, Ho Chi Minh City, Haiphong, and Danang, have continued to thrive, highlighting their significance as engines of growth for the country’s economy. In 2025, the capital city has seen a robust recovery in buyer interest, even as sale prices increased at a measured pace compared to the sharp spikes observed previously.
Price Trends: A Blend of Growth and Realignment
In 2025, asking prices in Hanoi witnessed a notable increase of 13%, a moderation from the staggering 39% spike recorded in 2024. While this indicates a positive trend, it also reflects a strategic shift among buyers who are weighing their options more cautiously. The second quarter of this year brought about renewed interest, especially in the apartment segment, which has experienced remarkable price surges of 95% compared to Q1 2023. Premium locations such as Tay Ho and Ba Dinh are leading the way, with prices ranging from VND130 million to VND210 million (approximately $5,200–$8,400) per square meter.
Accessibility Concerns in the Apartment Market
Despite the price increases, a substantial 56% of surveyed individuals consider apartments “hard to afford.” The affordable to mid-range segment, priced below VND55 million ($2,200) per square meter, has, however, thrived, seeing price gains of 57%–71% since Q1 2024. This shift signifies a growing demand in areas like Dong Anh, Gia Lam, and Long Bien, where affordability meets investment potential.
Private Houses and Land Plots: Diverging Trends
Private houses in Hanoi have also seen significant appreciation, boasting a 63% price hike over Q1 2023. The enduring perception of these properties as safe investments, alongside a strong homeownership sentiment among residents, plays a pivotal role in this trend. Meanwhile, land plots have appreciated by 50%, particularly in proximity to the city center and suburban areas. However, this segment’s recovery is tempered by its sensitivity to macroeconomic conditions, leaving it vulnerable to speculative behaviors.
Demand Dynamics: A Cooling Market
According to Dinh Minh Tuan, Southern Regional Director of Batdongsan.com.vn, while selling prices continue to increase, the demand has somewhat cooled. The capital is primarily concentrating on high-end apartments near the city center, which continue to dominate market activities.
Divergence in Buying and Rental Markets
The report from Q3 2025 underscores a clear divergence between buying and rental markets. Following a macroeconomic rebound in Q2, the apartment sector experienced renewed interest, while townhouses and private homes also showed signs of growth, with some areas recording an 11%–22% uptick in search interest compared to early 2025.
Conversely, the rental market has not fared as well. Following the traditional “ghost month,” search interest in September saw a decline of 8%–24% month-on-month, depending on property types. This downward trend raises questions about the sustainability of rental demand as the market shifts.
Positive Absorption Rates Despite Market Fluctuations
The outlook remains positive, as Batdongsan.com.vn’s Q3 2025 broker survey revealed that nearly 90% of respondents rated new supply absorption as average to good. Notably, only 12% of brokers characterized it as “weak,” indicating a hopeful market sentiment.
Future Expectations: Growth Ahead
Looking to Q4 2025, around 60% of brokers anticipate continued market growth, with 17% expecting robust expansion. Approximately one-third predict stability, while only a scant 6% express concerns over a downturn. The apartment segment is perceived to have the most significant growth potential in the coming months, followed closely by private houses and land plots.
In summary, Hanoi’s real estate market in 2025 is marked by its resilience, price growth, and a dynamic interplay between buyer interests and market conditions. As the city navigates through fluctuations, the focus continues to sharpen on areas with real housing demand and higher liquidity, showcasing the evolving landscape of this vibrant capital.