APARTMENT FOR SALE
SUPPLY: TRANSITIONING INTO A SELECTIVE DEVELOPMENT
Hanoi’s apartment market entered a selective development phase in Q2 2026, reflected by declining supply volumes and a structural shift in product mix. Total new launched supply reached approximately 11,200 units in H1 2026, with Q2 recording nearly 4,700 units (-29% QoQ; -44% YoY), reflecting a more cautious approach from developers. New supply continued to concentrate outside the urban core, with 44% in Secondary areas and 48% in Suburban areas, while the remainder was distributed across the West. This trend reflects an ongoing decentralization driven by limited land availability in inner-city areas, rising development costs, and a polycentric urban planning strategy centered on nine urban centers and nine growth poles rather than a single core areas.
In term of product segment, the market remained structurally imbalanced, with the Luxury segment accounting for over 52% of new supply while affordable apartments were virtually absent, indicating that current supply is not adequately addressing end-user demand. Launched projects were predominantly those with clear legal status, developed by reputable developers, featuring integrated amenities and attractive sales policies, reflecting higher development standards and reinforcing the market's selective phase.
DEMAND: TRANSACTION ACTIVITY SLOWS DOWN
In tandem with supply trends, market demand also reflected a selective development tendency. In H1 2026, Hanoi’s apartment market recorded above 9,700 units sold, with Q2 alone reaching nearly 4,600 units (-12% QoQ; -45% YoY). The decline in transactions was partly attributable to the supply structure, where luxury and high-end segments accounted for approximately 72% of available stock, widening the supply-demand mismatch. At the same time, investor sentiment turned more cautious, with a tendency to delay purchasing decisions amid Hanoi's implementation of a new polycentric master plan including nine urban centers and nine growth poles, rather than concentrating development within the traditional core. These trends indicate the market is entering a filtering phase across both product quality and capital flows, with demand increasingly concentrated in projects offering strategic locations, clear legal standing, and long-term growth potential.
PRICES: REMAIN HIGH DUE TO PREMIUM-DRIVEN SUPPLY STRUCTURE
Average primary prices in Q2 2026 reached approximately 4,659 USD/m2 (+19% QoQ; +36% YoY). This growth was primarily driven by the composition of new supply, with over 72% of launched units belonging to the High-end and Luxury segments. The continued absence of affordable apartments from the market has led to a shortage of products accessible to mass-market buyers, maintaining significant pressure on overall affordability.
OUTLOOK: MORE SUSTAINABLE MARKET WITH PRICE DIVERGENCE ACROSS SUBMARKETS
On apartment supply: Over the medium to long term, the market is expected to adjust toward a more sustainable tendency, with reduced speculative activity and a greater focus on end-user demand. Under Hanoi’s centennial master plan orientating toward population decentralization, residential supply is projected to expand significantly in Suburban areas, which are expected to lead future apartment supply. Regarding apartment prices: In the short term, prices are expected to maintain their upward tendency given the persistent shortage of affordable supply, while new completions remain concentrated in the High-end and Luxury segments. Over the longer term, prices are likely to diverge across submarkets: CBD is expected to continue appreciating due to land scarcity, while Suburban areas are projected to maintain more accessible price levels supported by greater supply availability
LANDED PROPERTY
SUPPLY: SUBURBAN AREAS CONTINUE TO LEAD NEW SUPPLY
During the first six months of 2026, Hanoi’s landed property market recorded nearly 500 newly launched units. In Q2 2026, approximately 289 landed products were introduced (+26% QoQ; -87% YoY). The annual supply decline was primarily attributable to the predominance of small-scale project launches in H1 2026, coupled with absence of large-scale integrated township developments that characterized the same period last year. In terms of geographical distribution, suburban areas continued to dominate the market, accounting for approximately 82% of total new supply, while the CBD area maintained a limited share. This trend aligns with Hanoi’s long-term urban planning strategy, which promotes a multi-polar development model comprising 9 growth poles and 9 urban centers, rather than concentrating development in the inner-city core.
DEMAND: DECREASING MARKET LIQUIDITY
Hanoi’s landed property market recorded just over 170 transactions in Q2 2026 (-60% QoQ; -92% YoY). On a cumulative basis, over 600 transactions were recorded in H1 2026, with the majority of liquidity concentrated in integrated township developments offering comprehensive infrastructure and amenity system. The significant decline in transaction volume reflects a cautious investor sentiment toward highvalue asset segments amid ongoing complexity in global macroeconomic and geopolitical conditions. In addition, the market also exhibited a pronounced wait-and-see sentiment as investors postponed acquisition decisions while assessing the implications of Hanoi’s new urban development strategy, particularly the polycentric development framework comprising nine urban centers. In the short- term, these factors are expected to continue affecting on market absorption, while end-user demand and investment capital are likely to become increasingly selective, favoring large-scale projects with transparent legal status and sustainable long-term value creation potential.
PRICES: PRIMARY PRICES ADJUSTED DUE TO MORE AFFORDABLE SUBURBAN OPTIONS
Average primary prices for Hanoi landed properties reached 9,202 USD /m2 in Q2 2026 (-6% QoQ; 12% YoY). The quarterly and annual decline were primarily driven by the 82% share of new supply originating from Suburban districts including Hoai Duc, Thuong Tin, Thach That, Gia Lam and Phuc Tho.
OUTLOOK: DECENTRALIZATION AWAY FROM THE URBAN CORE
Hanoi’s landed property supply is expected to continue shifting toward suburban districts over the medium term, accounting for approximately 72% of total future supply during the 2026–2028 period. This trend reflects land availability advantages and the gradual improvement of transport infrastructure, with key projects including Ring Road 4, Ring Road 5, new bridges spanning the Red River, and future urban railway lines connecting the city center with surrounding satellite areas. These dynamics are broadly consistent with Hanoi's polycentric, multi-center urban planning orientation. Against this backdrop, the market is expected to exhibit more pronounced divergence across submarkets and product types. Future supply is likely to be concentrated in well-planned projects with transparent legal status and integrated amenities, while demand is expected to gradually achieve a more balanced composition between investment-driven or speculator-driven purchases and end-user demand over the medium to long term.
