Why are apartment prices in Hanoi increasing?

The scarcity of supply and the fear of inflation lead both investors and buyers to take advantage of opportunities before product prices establish a new ground.

Lowest supply in 5 years

Apartment buyers had a strong increase in demand at the beginning of the year.

Despite the vibrant demand, the supply of apartments in Hanoi is still in a tight state. Mr. Nguyen Van Dinh – Chairman of the Vietnam Real Estate Brokers Association said that the new supply of apartments in Hanoi is currently at the lowest level in 5 years while the demand for housing in the capital is still very large.

According to analysis by Savills Vietnam, the supply of new apartments from the fourth quarter of 2021 was also only 4,500 units, down compared to the same period last year. The downward trend is forecast to continue this year and next as future supply in 2022 and 2023 stays below 25,000 units and falls below 20,000 in the following years.

The shortage of supply in the long-term has directly affected the psychology of buyers and investors, in addition to the price forecast to increase, the pressure on gasoline prices affecting the whole market will continue to push up the market. factors such as input costs, raw materials, fuel, etc. have increased.

Investors have a foresight forecast that apartment prices will establish a new ground in the short term, so this is a “golden opportunity” to own a quality apartment with abundant potential while the price is still good. Those are the reasons that make the apartment segment pop up at this time.

In that context, new products or are about to be offered for sale from reputable investors attract the attention of buyers. Mr. Do Quang Hien, director of the HQ real estate trading floor, which specializes in distributing Vinhomes products in the East of Hanoi, said that the new products offered for sale at his floor are no longer available because of the small number of apartments and buyers. Winter should only sell 1-2 days is sold out. “A lot of “intrinsic” investors are holding seats to wait for new products to be launched, with this situation it is likely that the floor will not have enough goods for investors” – Mr. Hien shared.

The market is “thirsty” for new projects

The market is focusing its attention on the East area, which has formed a new center of the capital dubbed “Ocean District”. It is expected that in the near future, The Pavilion P3 tower, the last apartment building of The Pavilion subdivision, Vinhomes Ocean Park mega-urban, will be officially launched, following the impressive achievements of The Pavilion P4, P2 and P1 . Previously, all apartments in P4, P2 and P1 buildings were sold out after only a short time, notably apartment building P2 with 100% of apartments sold out in just 15 days.

The Pavilion P3 owns the heart position of the “new district” Gia Lam land in the near future.

As the perfect piece of the hottest apartment subdivision in Gia Lam today, The Pavilion P3 tower converges a series of outstanding advantages that few products can match.

The Pavilion P3 is located in the “traffic center” occupying a unique position in front of Ly Thanh Thong Boulevard – the most modern arterial and super-connected traffic axis in Gia Lam and the East of Hanoi. This is also the apartment building with the most convenient location to move to the key administrative – educational – economic – trade center of the district, just 3-5 minutes, you can go to Gia Lam People’s Committee, University. VinUni, Vietnam Academy of Agriculture, Vinmec Hospital, Vincom Mega Mall…

In particular, being adjacent to metro station No. 8 confirms the position of “future heart” of The Pavilion P3, from here residents can move to key destinations of the capital easily, this location is also convenient. opening up the investment potential of “miracle” for apartments here.

The Pavilion P3 – The Ocean View tower possesses a quartet of airy and fresh views.

Not only that, The Pavilion P3 also owns a quartet of rare and airy views, all four sides towards a fresh and peaceful space, with outstanding green Botanic Garden with four seasons, a series of great sports fields. capture the whole landscape of Gia Lam new urban area…

Located in the Vinhomes Ocean Park mega-urban, residents of The Pavilion P3 also enjoy the full chain of 100 peak entertainment and resort facilities of The Ocean View project with many highlights such as Zen Park Japanese garden, sea square, courtyard. Water and light art stage, Botanic Garden…, the “million-dollar” utility system of Vinhomes Ocean Park has operated from sea, saltwater lakes and artificial white sand freshwater lakes to the park system, not Green space covers a diverse and bold resort life that few projects have.

Launched at the right time with strong purchasing power, The Pavilion P3 with a series of unique advantages, promises to continue to be an investment “super product” with a record absorption rate in the market.

Minh An