Apartment prices bet88 Hanoi keep skyrocketing

Hanoi has witnessed a strong increase of 20-25% bet88 apartment prices bet88 the primary market and the upward trend is forecast to continue bet88 the next few years.

Some 70% of apartments offered for sales bet88 the first half of the year were bet88 the high-end segment with an average price of VND60-120 million (,370 - 4,740) per sq m, according to Ms. Nguyen Hoai An, senior director at CBRE Vietnam.

The first six months of 2024 saw a significant rise bet88 apartment supply, doubling the figure of the whole 2023, according to CBRE Vietnam.

However, the majority of the supply focused on the mid- and high-end segments with high prices.

bet88 2024-2025, some 22,000-23,000 apartments will be supplied to the Hanoi market annually, according to a study by research firm OneHousing.

The CBRE Vietnam estimated that Hanoi will supply some 55,000 apartments by 2026.

Mr. Tran Quang Trung, Business Development Director of OneHousing, said one of reasons leading to the price increase bet88 Hanoi is a change bet88 behavior and demand of customers. From 2021, many investors from Taiwan (China) and Hong Kong (China) have bought apartments bet88 Hanoi after apartment prices bet88 Ho Chi Minh City started to come to a standstill.

Besides, by the end of 2023, the amount of deposits at credit institutions was estimated to be around VND13 quadrillion (4 billion). A significant proportion of these deposits will likely flow into markets such as gold, stocks, and real estate when they reach maturity, according to Mr. Trung.

“Our survey shows that many customers plan to buy apartments bet88 Hanoi worth VND3-7 billion (9,000 – 277,000) bet88 the next 3-5 years,” he said.

Meanwhile, Mr. Nguyen Van Dinh, Vice Chairman of the Vietnam Real Estate Association, said the rise bet88 housing prices bet88 Hanoi and Ho Chi Minh City shows signs of vested interests.

The rise bet88 market prices bet88 recent months is suspicious, he said. “The increase is definitely caused by a group of people who want to conduct real estate business unethically amid the slow recovery of the market and people's low income,” he said.

He pointed out that the stagnant supply of apartments is the main cause of the property price rise, as no new projects have been approved bet88 recent years and only second-hand apartments are being transacted.