As central apartment prices far exceed what most buyers can afford, several projects near cemeteries once labeled “hard to sell” are now enjoying strong demand and notable price hikes.

Nguyen Thanh Tung, a real estate agent in Hoai Duc, shared that when a project in western Hanoi launched sales in 2024, a client rejected a unit with a cemetery view. In 2025, that very unit became highly sought-after, with its price surging by over VND1 billion.

Along Le Van Luong road, an apartment project once rejected for “embracing” part of a cemetery and facing feng shui concerns has seen prices rise 15-20 percent from last year. Average prices for common 2-3 bedroom units range from VND70-80 million per sqm, making a 2-bedroom (60-70 sqm) cost VND4.2-5.6 billion, and a 3-bedroom (80-95 sqm) VND6.3-8.3 billion.

In the Cau Giay area, projects near old cemeteries have recorded strong price increases. Sale prices range from VND60-114 million per sqm, averaging VND70-90 million per sqm, up 20-25 percent in one year. Thanks to a central location, good infrastructure, and convenient transport, these projects attract both end-users and investors, despite feng shui stigma.

In Hoang Mai area, apartments near cemeteries have also risen by 15-20 percent from 2024, reaching VND60-94 million per sqm.

Real estate brokers said the notion “cemetery is bad feng shui” is gradually changing. Amid limited supply and high prices in 2025, buyers become more pragmatic, focusing on location, amenities, and appreciation potential over spiritual factors.

Tran Minh Hung, a broker, said many clients now see cemetery proximity as a bargain, actively seeking “cemetery view” units for lower prices. As surrounding infrastructure develops, property value naturally rises.

Buyers now calculate based on investment efficiency rather than intangible fears.

Le Thu Ha, an apartment owner in Le Van Luong area, said: “At first, I was hesitant to buy an apartment here, but after site visit, I saw the area well-planned, green, with safe distance from cemetery. The price is nearly 15 percent cheaper than similar buildings, so I decided to buy.”

Frequent flooding fails to stop rising prices 

Despite chronic flooding, property prices in Hanoi’s Trieu Khuc area remain high, averaging VND150-270 million per sqm, more expensive than many other inner-city neighborhoods.

After just 30 minutes of heavy rain, streets and alleys like Trieu Khuc road, alley 342, and Trieu Khuc market area often turn into waterlogged zones. In some spots, flood levels reach 0.5-0.7 meters, severely disrupting daily life and traffic. Locals jokingly call the area “Trieu Khuc Bay.”

Still, property prices there show no sign of slowing down. Market data indicates that land prices average VND150-270 million per sqm, up 20-30 percent since early this year. Road-front properties benefit from strong business potential and accessibility, commanding prices of VND250-500 million per sqm. Houses in smaller alleys (2-4 meters wide) are slightly cheaper, typically ranging from VND100-300 million per sqm.

According to Manh, a real estate agent, transactions for main-road properties are relatively rare, with 70–80 percent of activity concentrated in alley properties, driven mainly by small-scale investors.

He is currently listing a 60 sqm main-road house in Trieu Khuc for over VND16.5 billion, equivalent to more than VND275 million per sqm.

Smaller homes in alleys are more affordable. For example, a 32 sqm house near Trieu Khuc lake is listed at around VND200 million per sqm. Another 35 sqm with a floor area of 35 sqm on an open alley is priced at VND250 million per sqm. Some in narrower alleys are available from VND130 million per sqm for properties sized 30–35 sqm.

For resettlement land, subdivided plots with car-access roads and about 60 sqm area are priced up to VND16.3 billion, or VND271.67 million per sqm.

Additionally, some completed mini apartment buildings (7–9 floors) are on sale for VND15–26 billion, depending on actual size and rental income potential.

Manh noted that despite some surrounding areas like Yen Xa offering similar or even lower prices, Trieu Khuc still attracts buyers thanks to its location and strong rental potential.

Nguyen Thu Ha, an independent property broker, said: “The biggest issue in Trieu Khuc is severe flooding after heavy rain. Many low-lying areas and narrow alleys get knee-deep in water. Despite this, the location and cash flow potential make many investors willing to accept the risk.”

Hong Khanh