In Hanoi, the prices of apartments and separate houses in some areas such as Tay Ho, Hai Ba Trung, Ba Dinh and Hoai Duc have increased abnormally amid unchanged market conditions and demand.

Among these are buildings located on prime real estate that even major real estate developers covet, raising questions about the efficiency and future of urban development projects in the city.

The land price frameworks set by local authorities in some cities and provinces are much lower than market prices as local authorities have been slow in updating information about pricing.

The land market in suburban districts of Hanoi became ’hotter’ than ever when auctions continuously sold out in the past month.

In the heart of Hanoi, several tiny houses are being sold at sky-high prices, leaving many potential buyers perplexed after viewing them.

As Hanoi apartment prices soar unexpectedly, real estate experts suspect speculative activities by investors may be inflating the market.

Real estate experts express surprise and concern as suburban apartment prices in Hanoi reach unprecedented levels, making home ownership increasingly unattainable for workers.

In Hanoi, luxury apartments are selling up to VND200 million per sq m, while flats in poor condition in old collective quarters are priced at over VND100 million per sq m.

Many people in Hanoi are buying apartments with no pink book (proof of ownership that outlines the legal rights of owners) because they are much cheaper than products with full legal ownership.

Customers accept new levels of apartment prices in Hanoi after surging in the past months.

Due to limited new supply and high demand for real estate purchases, apartment prices are predicted to continue rising.

The average selling prices of apartments in Hanoi in the first two months of this year increased by 17 per cent compared to the same period in 2023.

The real estate market is expected to gradually stabilize and shift towards positive changes, as 2024 could be the last year in the process of overcoming obstacles.

Hanoi real estate market in 2023 saw the lowest sales in the villa and townhouse segment in the past 10 years, but selling prices of the villa and townhouse segment in Hanoi continued to increase strongly.

The Hanoi real estate sector has seen dynamic activity in Q3/2023.

Hanoi's increased housing supply in the third quarter of 2023 compared to the previous quarter did not improve the city's cumulative total supply in the first nine months of the year.

Synchronous development of transport infrastructure and abundant land in the east of Hanoi will attract investors, although the city's whole real estate market has gloomy forecasts for development, according to experts.

Nestled in an idyllic location renowned for its picturesque landscapes and auspicious feng shui, Tay Ho (West Lake) area has long been hailed as the crown jewel of real estate investment opportunities in Hanoi.

About 103,000 new apartments in the city are estimated available for sale from the last quarter of 2022 to 2025.