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Update news apartment prices
Apartment prices have increased to over VND100 million per sq m in the suburbs, while land bid prices are tens times higher than starting prices. Real estate firms have reported a surge in revenue from brokerage services.
Not only housing in inner city, but apartment prices in suburban districts far from the central area in Hanoi are increasing. Brokers said the products are VND300-600 million more expensive than in 2023.
Many suburban villas and houses have been left unused for tens of years with overgrown patches of grass overgrown. But prices are still very high.
Many buyers have become less interested in apartments after hearing that the Ministry of Construction (MOC) has proposed the setting of a cap on the term of apartment ownership. Despite this, apartment prices remain high.
Apartment prices in Hanoi have been increasing, now hovering around VND40 million per sq m.
Ten years ago, wealthy people said ‘no’ to properties located far from the center of cities, but more are now moving from the crowded inner city to the suburbs, where they can enjoy fresh air and less noise.