Nguyễn Hoài An, Senior Director, Hà Nội Branch at CBRE Vietnam speaks at a press conference on Hà Nội's real estate market in Q3 held on October 14. — VNS Photo Hoàng Hà

HÀ NỘI — The total number of apartment transactions in Hà Nội during the third quarter (Q3) of 2025 exceeded 11,100 units, marking the highest quarterly level recorded in the city since 2018, according to CBRE.

At a press conference on Hà Nội's real estate market in Q3 held on October 14, Nguyễn Hoài An, senior director, Hà Nội Branch at CBRE Vietnam, said the surge in transactions is due to the introduction of numerous new projects in prime locations, which significantly boosted market activity during the quarter.

New apartment supply in Hà Nội during the third quarter surpassed 10,300 units, representing the second in five years where new supply exceeded the 10,000-unit threshold during a quarter. For the first nine months of 2025, the total supply reached nearly 21,100 units - an increase of 10 per cent compared to the same period in 2024.

Notably, this quarter saw a record-high new supply of projects with asking prices above VNĐ120 million (US$4,530) per square metre (excluding VAT, maintenance fees and discounts), totalling over 2,000 units.

These new developments are spread across multiple areas, particularly well-connected districts such as Tây Hồ, Cầu Giấy and Long Biên. Additionally, projects priced at VNĐ60 million per sq.m or higher are increasingly appearing in outlying areas like Đan Phượng and Văn Giang (Hưng Yên province), which border Hà Nội.

Regarding pricing trends, apartment offering prices continued to rise in both the primary and secondary markets during Q3 2025. The average primary selling price surpassed VNĐ90 million per square meter (excluding VAT, maintenance fees, and discounts), exceeding the average price recorded in HCM City during the same period. This represented a 16 per cent increase from the previous quarter and a 41 per cent rise compared to the third quarter of 2024, An said.

Several investors actively promoted sales plans and launched new offerings from existing project inventories this quarter, especially in centrally located areas with convenient transportation links. This activity further contributed to upward pressure on prices.

Even traditionally more affordable locations like Đan Phượng and Văn Giang experienced price increases, driven by the involvement of large, experienced investors, infrastructure improvements and the development of modern residential clusters.

Despite the high price levels, newly launched projects maintained healthy absorption rates, with approximately 70-80 per cent of units sold on average. This reflects a stable demand for real estate investment in Hà Nội, with no signs of slowdown.

In the secondary market, the average selling price reached VNĐ58 million per square metre (excluding VAT and maintenance fees), marking a 19 per cent year-on-year increase. Although this growth rate is slower than in 2024, it outpaces the increases seen in the first two quarters of 2025.

Looking ahead, An expects the Hà Nội apartment market to maintain its momentum in the final months of 2025.

New supply in the last quarter is projected to exceed 11,100 units, bringing the total for the year to more than 32,300 units - higher than in 2024.

The supply will be more geographically diverse, helping to increase the availability of apartments priced in the VNĐ50-60 million per sq.m range.

Secondary market prices are also expected to continue their upward trajectory, with an estimated 20 per cent increase by the end of the year compared to the same period last year. While still significant, this growth is slower than the rate recorded in 2024.

However, sustained high increases in secondary prices raise concerns about the market’s long-term sustainability, particularly given the evident disparities in real demand and buyer affordability.

An said: “Increasing and diversifying supply, improving infrastructure connectivity, along with prudent management and regulatory policies from authorities, will be critical to maintaining the stability and health of Hà Nội’s apartment market in 2026 and 2027.” — VNS