Hanoi landed property prices rise by 5-10% in Q3

The growth was driven by the Vinhomes Global Gate project.

The primary prices of landed real estate in Ha Noi have experienced a notable growth of approximately 5% to 10%, averaging between 5,000 and 7,000 USD/sqm, according to data from Avison Young. 

“This increase is largely driven by the Vinhomes Global Gate project, which boasts an average price range of 10,000 to 11,000 USD/sqm. The offerings from this project have invigorated the sales activities of other developments in the Ha Noi area, highlighting the market's growing interest in large-scale real estate projects,” the analyst said.

Here’s more from Avison Young:

As of Q3 2024, properties for sale in the northeastern part of the city are priced. approximately 3% to 5% higher than those in other regions, attributed to their advantageous locations and superior connectivity to the city center. 

Moreover, recent changes in land laws have begun to influence the demand for landed properties in Ha Noi, suggesting a significant transformation in the market landscape soon. This evolving regulatory environment may further enhance the attractiveness of such assets, positioning them as valuable investment opportunities.

Supply and Demand

The supply of landed real estate in Ha Noi during Q3 2024 saw the launch of the major project Vinhomes Global Gate, which includes nearly 2,000 units. Additionally, landed properties located in well-planned urban areas, integrated with accompanying commercial amenities, such as Starlake Tay Ho Tay and Ciputra Nam Thang Long, show good growth potential in secondary market prices, highlighting the appeal of this property type amid the ongoing supply shortage. 

In the suburban areas, demand for landed real estate also indicates similar price increases, as several projects like Vinhomes Riverside, HUD Me Linh Central, and Vinhomes Ocean Park 1 report price rises of about 5% to 10% in the secondary market. 

Although the introduction of new supply has improved the market, it still fails to meet the high demand. The ongoing scarcity of supply persists not only in the affordable segment but also in the premium villa and townhouse categories, resulting in rising prices in the secondary market.