Hanoi to see over 2,600 new Grade A serviced apartments until 2026

The current inventory is at 3,400 units.

According to data from Avison Young, the serviced apartment market in Ha Noi did not record any new supply in the last quarter, maintaining a total inventory of approximately 3,400 units from Grade A and B segments. 

“Projects slated to open by the end of 2024 are currently being actively completed to ensure timely progress, including the PARKROYAL Ha Noi Serviced Suites in Tay Ho District with 126 units and the Somerset Metropolitan West Ha Noi in Cau Giay District with 364 units. From 2025 to 2026, the Ha Noi market is expected to welcome around 2,639 serviced apartments in the A segment, primarily concentrated in Tay Ho District,” the report said.

Here’s more from Avison Young:

Currently, most serviced apartment projects in Ha Noi are managed by well-known international operators such as IHG, Lotte, Hyatt, and Fraser. Tenants prefer these projects due to their quality and amenities, as well as their convenient locations for commuting. The involvement of international brands in the Ha Noi market, both in the past and upcoming, indicates the growth potential of this real estate segment. 

Notably, with the integrated development of infrastructure, future supply will gradually shift to areas outside the city center, at the city’s gateways.