At a press conference held in Hanoi on April 9, CBRE Vietnam reported that apartment prices in the city showed signs of slowing in the first quarter of 2025, following a period of rapid growth.
In the primary real estate market, the average apartment selling price reached nearly VND75 million (US$2,882) square meters. Meanwhile, in the secondary market, the average selling price was approximately VND50 million per square meters. While these prices remained 34 percent and 20 percent higher than the same period in 2024 respectively, they represented only a 3 percent increase from the previous quarter - the lowest quarterly rise since Q3 2023.
In particular, projects with prime locations near existing residential areas in the Nam Tu Liem, Hai Ba Trung, and Long Bien areas recorded a slight increase of 2-3 percent. The remaining projects did not have many fluctuations compared to the previous quarter.
In the first quarter, Hanoi’s apartment market recorded a supply of 3,920 units—less than half of the volume seen in previous quarters—primarily concentrated in suburban districts. Notably, the market continues to lack projects priced below VND35 million per square meter.
At a recent press conference, a CBRE representative attributed the recent land speculation in Hanoi's suburban areas and various localities to market price sensitivity regarding planning announcements, infrastructure development and prospective administrative mergers. The representative advised investors to exercise caution, accurately assess the situation and their investment objectives to mitigate short-term risks.
One of the key concerns raised at the meeting was the potential impact of U.S. reciprocal tariffs on the industrial real estate market, particularly in countries such as Vietnam. A CBRE representative acknowledged that the market would inevitably be affected. However, CBRE needs additional time to monitor developments and conduct a comprehensive analysis before providing a definitive assessment. Further insights are expected to be available in May.
Despite projected impacts on the industrial real estate market, CBRE representatives noted that Vietnam's large domestic consumer base of over 100 million people, combined with the Government's strong and adaptable policies, will enable domestic production activities to focus on development and minimize negative external influences in the coming period.
