Nguyen Thi Thuy from Ninh Binh said she initially thought VND3 billion wouldn’t be enough, but VND6 billion would give her more options. 

“I’ve been looking for a commercial two-bedroom apartment of about 70 sqm in the formerly named districts like Cau Giay or Thanh Xuan, but at this price level, there’s basically nothing suitable,” she said.

Apartment prices in Hanoi’s central districts have risen sharply, especially for 70 sqm two-bedroom units. Most are priced from VND7 billion and above, well beyond Thuy’s budget.

In the former district of Cau Giay, prices for current condominium projects range from VND130 to VND180 million per sqm, depending on location,  quality, and developer reputation. Projects along major roads such as Tran Duy Hung, Xuan Thuy, Duong Dinh Nghe, or Pham Hung record particularly high prices, especially for apartments with good views or favorable floor levels.

For example, resale units on Tran Duy Hung Street are listed at VND100-120 million per sqm, meaning a 70 sqm apartment can cost around VND7 billion or more. In Xuan Thuy area, two-bedroom, two-bathroom apartments of about 80 sqm are offered for VND7.5 billion.

Even projects that have been occupied for several years still maintain high prices or even show slight increases thanks to their central location, completed infrastructure, and strong end-user demand. As a result, finding a 70 sqm, two-bedroom apartment for around VND6 billion in these areas is far from easy.

Nguyen Van Trung in Hai Ba Trung Ward, who is seeking an apartment on Minh Khai street, was discouraged when finding that house prices in the areas have surged. The apartments have exceeded VND100 million per sqm. 

“Prices have gone up so much that even VND6 billion, which I thought was comfortable, is no longer enough,” he said.

Older buildings in this area have also become expensive, generally ranging from VND95-130 million per sqm. For instance, Imperia Sky Garden units are priced around VND105–120 million per sqm; Hoa Binh Green City VND105–120 million; Green Pearl VND95–105 million; and Hinode City VND110–130 million, even though most have been in use for nearly a decade and are starting to show signs of wear.

Le Quang Viet, an information technology engineer, is still hesitating. With a budget of VND6 billion, he is looking for a small house of around 30 sqm in the alleys off Giai Phong Street. But with that amount, agents have only shown him tiny homes deep in narrow lanes or ones requiring major repairs, leaving him discouraged.

“I’ve spent nearly three months exploring alleys from Dinh Cong and Hoang Van Thu to the Giap Bat area,” Viet said. “With VND6 billion, all I can find are houses under 30 sqm, located deep inside alleys, sometimes dead ends, with narrow frontages and poor infrastructure. Some are listed at VND6.5 billion for just 25 sqm, and even those would be difficult to renovate.”

Apartment prices keep climbing

Market surveys show that due to limited supply, apartment prices in central Hanoi continue to climb. According to Tuan, a real estate agent, “many people come to view properties just to check prices or market trends. Very few are ready to make a deal right away.” The high prices force buyers to think twice before committing.

Do Thu Hang from Savills Hanoi said the current price level is pushing real demand down. “End-users are still present in the market, but investors continue to dominate,” she noted.

Savills Vietnam’s Q3 2025 report revealed that the average primary asking price reached VND101 million per sqm. On the secondary market, prices rose an average of 39 percent year-on-year, with several districts emerging as new “hot spots” despite legal and credit challenges over the past three years.

Projects in inner-city districts such as Cau Giay, Thanh Xuan, and Hai Ba Trung now start at over VND100 million per sqm, while premium developments go for VND130-180 million. A two-bedroom, 70 sqm apartment costs no less than VND7 billion, and a three-bedroom unit can reach VND10–12 billion. This makes homeownership increasingly difficult for middle-income buyers.

With inner-city housing prices staying high and affordability shrinking, demand is gradually shifting toward suburban areas.

According to Hang, this outward movement is becoming more evident as central land reserves dwindle. Even areas near Ring Roads 2 and 3 are almost fully developed. The trend is also being driven by population decentralization policies and infrastructure expansion under the Revised Master Plan for the Capital Region.

Duy Anh