Villa prices in Hanoi continue to escalate

The price of villas in the West of Hanoi has increased

The supply of villas in the western part of Hanoi for sale continued to increase in price after the 2022 Lunar New Year.

Specifically, more than a year ago, the price of a villa project in Hoai Duc was offered for sale at about VND 70-80 million/m2, but up to now, the asking price has increased to VND 115-130 million/m2. The lakeside villas, the price increased sharply to 150 million VND/m2.

Similarly, in another project, adjacent lots on 30m and 33m streets with a common average price of 70-80 million VND/m2, now at the same location, the selling price has been set at 110-130 million VND/m2.

At a project in Thach That, the selling price of villas in area A, with an area of ​​400-750m2 also increased from 17-30 billion/unit to 20-33 billion/unit within more than a year. The villa area B, area from 225-564m2, selling price also increased from 10-24 billion VND/unit to 12.5-27 billion VND/unit.

Also within more than a year, the 75m2 townhouses in the project in Hoang Mai were offered for sale at 17-20 billion VND/unit, now on the secondary market, those townhouses have set a price of 21 -27 billion VND/unit. The investor’s goods are in the new block with a larger area, about 100m2, the selling price is over 30 billion VND/unit.

Transactions increase with price

Not only recorded an increase in prices, but also transactions of villas, townhouses and shophouses in the West of Hanoi also recorded an increase. Despite the high price, the market has no shortage of investors and buyers who really put down money in this segment.

According to Savills report in 2021, good absorption rate reached 56%, primary selling price recorded a strong increase. The impressive growth of the primary market was mainly concentrated in the West region.

Specifically, the average primary price increase was highest in Hoang Mai district (15% for Adjacent and 32% for Commercial Townhouses) and in Hoai Duc district (29% for Villas, 38% for Adjacent and 59% for Commercial Townhouses).

According to’s 2022 real estate consumer sentiment report, the trend is that more and more homebuyers in Vietnam are looking for a place to live with more green and spacious space.

Along with that, fear of price slippage and inflation when money is pumped into the market through economic stimulus packages and public investment disbursement, the need to accumulate assets attached to land as a safe haven channel will increase. up this year.

Therefore, investors and real-life buyers with strong financial resources have come to the segment of villas, townhouses, shophouses, etc. in suburban areas such as Hoai Duc, Hoang Mai, and Ha Dong.

A real estate broker in Hanoi said that since Tet, money has poured into real estate due to inflation concerns and real estate prices continue to increase. However, the high price makes many investors afraid of the situation of “virtual” prices, “bubbles” in the market.

“This sentiment appears in investors who buy to rent or find customers to change hands in a certain time. Buyers are not too bothered because they all realize that the price level is the same everywhere, any project is the same,” this broker shared.

Commenting on the Hanoi villa/townhouse market in 2022, Mr. Matthew Powell, Director of Savills Hanoi, shared: “The Hanoi villa/townhouse market has been continuously short of primary supply for a period of one year. New supply in 2022 will mainly come from large projects and urban areas outside the center of Hanoi, which will help overcome this situation. The volume of transactions, as well as the selling price, will also have a significant growth.”

2022 is a promising year for important infrastructure projects, connecting inner-city and suburban traffic. This will be an important factor in boosting demand when future supply comes from 13 projects located mainly in the western and eastern areas of the Capital.

According to Linh Phong

Business and Marketing

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