According to the Vietnam Real Estate Market Report (VARS), average apartment transactions accounted for 52% of total market transactions in Hanoi. The price of land in all parts of the capital has fluctuated around 10%
Affordable housing accounted for 60% of total new supply
According to VARS statistics, in 2017 Hanoi has 54 real estate projects offering products to the market 34,217 apartments, 950 villas and 999 houses.
The majority of housing units offered for sale in Hanoi are condominiums. This increases the proportion of apartment housing in total new housing supply in Hanoi to 90% of total new housing.
The apartment market in Hanoi recorded a large supply of apartments priced at market prices, with 60.1% of products priced at less than VND25 million / sqm concentrated in Ha Dong district. Mai, Dong Anh and Tu Liem.
The middle segment ranges from VND 25 to 35 million / sqm, accounting for 26.7%, mainly in Tu Liem, Nam Tu Liem and Thanh Xuan districts.
High-end and high-end segment priced at VND 35-45 million / sqm accounted for only 12.2% of total supply in Thanh Xuan, Cau Giay and Tay Ho districts.
In 2017, the super high-end apartment segment in the new year offering price over VND 45 million/ sqm in Hanoi only accounted for a very small proportion.
According to the area, the apartment area is 70sqm – 100sqm accounting for the largest proportion (45.8%), followed by the apartment area of 50sqm – 70sqm, 100sqm and 120sqm.
Flat-priced deals occupy half of the market
VARS said that in 2017, the total number of successful apartment transactions in Hanoi reached 20,776 units.
According to VARS, generally in the beginning of 2017, the volume of apartment transactions in Hanoi increased from 3,624 transactions in the first quarter to 5,417 transactions in the second quarter, 4,955 transactions in the third quarter and a relatively strong increase to 6,780 traded in the fourth quarter of 2017.
The trading volume decreased slightly in the third quarter of 2017 due to the time of July lunar month and the time of travel and rest of many families.
The volume of products traded was still low-end apartments, accounting for 52%, followed by medium-end apartments with 42% of total apartment transactions in Hanoi in 2017.
In the fourth quarter of 2017, 701 villas, adjoining houses and shophouses were traded. The projects were concentrated in suburban districts such as Ha Dong district and Hoai Duc district.
For the whole year 2017, the total number of villas, adjoining houses and shophouses in Hanoi reached 1,096 transactions.
Land price fluctuation increased by 10%
Real estate brokerage said that with low-rise apartment, this type of price increase is not much. According to calculations, the price increase over the same period in 2016 about 5%. The average price for this type is VND 22 million / sqm.
Mid-end apartment price increased by 6% compared to 2016, average price of VND 29 million/ sqm; luxury apartments and super high-end (over VND 45/50 million /sqm) does not increase compared to 2016.
Remarkable land projects, Real Estate Association of Vietnam emphasized that most of the land value in the project in each region fluctuate around 10%.
Specifically, VARS said Cau Giay district has an average price of VND 180-200 million / sqm; In Tu Liem and Tay Ho districts, the average price is VND 120-150 million / sqm;
The area of Ha Dong district, Hoang Mai, Thanh Tri have average price VND 25-50 million/sqm; Long Bien district, Gia Lam average price of VND 30-50 million/ sqm; In Dong Anh district, the average price is VND 30 million / sqm.
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