Hoarding, inflated prices, and speculation continue, increasing the overall price level of real estate, causing an imbalance in supply and demand.

The Ministry’s report on the implementation of activities from the central steering committee on housing policy and the real estate market shows that in the first nine months of the year, apartment prices in Hanoi and HCMC remained high, showing an upward trend compared to the same period last year.

Specifically, the average primary price of apartments in Hanoi in Q3/2025 ranged from VND70-80 million/sqm, up 5.6 percent from Q1/2025 and 33 percent year-on-year. Some high-end apartment projects in Hanoi recorded prices of VND150-300 million/sqm.

In HCMC, the average primary apartment price over the past nine months was about VND75 million/sqm, unchanged from Q1 but 36 percent higher than in the same period in 2024. Some luxury projects had asking prices starting from VND150 million/sqm.

Meanwhile, the price of townhouses and villas in Hanoi typically ranged from VND100-200 million/sqm. Some premium projects in prime locations exceeded VND300 million/sqm.

In HCMC, primary prices ranged from VND230–300 million/sqm, depending on the location and project. Some high-end properties in central areas or new urban zones with complete infrastructure were priced above VND300 million/sqm.

For land plots, MOC noted price surges occurred in some areas early in 2025, which were promptly controlled and have since stabilized.

In Hanoi, land plot prices commonly ranged from VND60-100 million/sqm. In developing areas like Dong Anh, Long Bien, and Hoai Duc, near metro lines or new urban zones, prices have exceeded VND200 million/sqm.

In HCMC, land plot prices ranged from VND60-120 million/sqm. In Thu Duc City and riverside areas, listed prices could surpass VND200 million/sqm.

In Da Nang, prices typically ranged from VND40-60 million/sqm, concentrated in coastal districts and new urban areas. In Hai Phong, land plot prices ranged from VND40-70 million/sqm, higher in central areas and along main traffic routes.

Regarding market transactions, MOC reported that 430,700 transactions were recorded in the past nine months, a slight increase (about 1 percent) compared to the same period in 2024.

Notably, transactions rose in the first six months but later slowed in some areas due to cautious sentiment and adjusted expectations.

Real estate prices deviate far from true value

Over the past nine months, many localities have continued to promote and approve new urban projects, contributing to the supply of housing and land for socio-economic development. Statistics show over 1,070 commercial housing projects are under implementation.

However, the ministry noted that the supply of housing products is mainly in the high-end and mid-range segments, lacking affordable housing options for the majority of people. There is especially a shortage of housing for industrial park workers, social housing, and housing for low-income individuals in urban areas.

National housing fund 

MOC proposed that ministries, agencies, and localities work together to address key tasks in the last four months of the year, including promoting the approval of new housing and social housing projects to increase market supply.

MOC will lead and coordinate with the Ministry of Finance (MOF) to finalize the legal framework and procedures for establishing a national housing fund. The ministry of finance will continue to review and refine legal documents related to investment, bidding, taxation, and other areas to resolve emerging issues.

As for the State Bank, in addition to leading the implementation of the VND120,000 billion credit program, it will continue to expand and roll out preferential loan programs for young people under 35 to purchase their first commercial home, with suitable interest rates and loan terms.

According to the Hanoi Department of Construction, since the beginning of the year, the city has 33 future-formed real estate projects eligible to mobilize capital, providing 30,364 products to the market. Of these, more than 80 percent are apartments with 24,556 units.

Hong Khanh