Hanoi real estate “failure” in front of the apartment

House prices keep increasing despite Covid-19

In recent years, despite being affected by the epidemic, real estate prices have continuously set new “peaks”, making it difficult for many families to own a home despite saving for many years. Ms. Nguyen Yen – office worker in Hanoi said, she has been married for more than 5 years, so she also has a decent amount of capital. Her and her husband’s plan will use that money to buy a house about 40m2 in the alley, both to solve accommodation and to be a means of storing property.

However, with the rate of increase in the price of residential real estate, although the accumulation increases, it is increasingly difficult to buy a house. At the end of 2021, the couple decided to buy an apartment.

“When I went to find a house, I found out that the price of the apartment also increased surprisingly quickly. At the beginning of last year, I asked for an apartment in Ha Dong for 1.3 billion, but after a few months it increased to 1.7 billion. My husband and I calculated it. bought an apartment near the center, but the price went up so quickly, in the end, I had to accept to buy an apartment in a suburban district so that I wouldn’t have to borrow money from a bank,” Yen said.

Apartments are “hunted”

According to the February 2022 market report of, the Hanoi market recorded a 22% increase in interest compared to January. The apartment segment was the focal point of the market when recording interest. search increased 23%, while this rate in the private house segment was 13%, residential land, land plot was 8%.

However, the search volume for apartments only concentrated in the affordable apartment segment, with prices around 20 million VND/m2 or less with a growth of 36% compared to January. Meanwhile, the number of listings for sale. Affordable apartments were almost unchanged from the previous month, which is an indicator that the supply of this type of product in the market is quite scarce. This is also the actual situation of the Hanoi market in recent years.

  Real estate in Hanoi

The fact that the search demand focuses on the affordable apartment segment shows that people’s demand for affordable housing is still very large. Real estate prices have continuously increased in recent years, residential housing prices have skyrocketed while the income of the majority of urban workers cannot keep up with the rate of house price growth. With a lower total value, a wide variety of areas, and increasingly reducing legal risks, the same progress as ten years ago, apartments have gradually become the choice of middle-income people. come quite in big cities like Hanoi.

Many people from the province to Hanoi to live and work once wished to own a house in the inner city, but before the storm of housing prices, many of them switched to choosing apartments, because they were afraid that apartment prices would also escalate. especially when the land fund in the inner city has been exhausted.

According to big data of, apartment prices in Hanoi in February 2022 also increased by about 4.4% compared to December 2021. Meanwhile, the price of affordable apartments in Hanoi in 2021 has grown by 8%, reaching an average of about 23.5 million/m2. Prices of luxury apartments also increased 5% to 32.5 million/m2, while high-end apartments increased 3% to 45.5 million/m2. In fact, in the whole year of 2021, the level of interest in Hanoi apartments recovered quite well despite being under a lot of pressure after the outbreak caused the whole city to have to undergo long-term social isolation in July and August 2021.

According to Tuan Minh

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