Ministry of Construction: Hanoi apartments for sale at high prices, up 38%

Hanoi apartment prices increased by 38%

The information was announced by Mr. Hoang Hai, Director of the Department of Housing and Real Estate Market Management, at the regular press conference for the first quarter of 2024, organized by the Ministry of Construction on April 26 in Hanoi.

Facing the situation of “hotly increasing” house prices in Hanoi, Mr. Hai informed that the Ministry of Construction had inspected a number of apartment locations with high selling prices in Hanoi but there were not many transactions, and the transactions were very successful. little. The Ministry has sent a document requesting Hanoi to conduct an inspection, but so far the city has not had a report.

Regarding the selling price of apartment buildings in the first quarter of 2024, the Ministry of Construction said that the apartment market continues to attract the attention of groups with real housing needs and medium and long-term investors. .

According to a survey by the Institute of Construction Economics (Ministry of Construction), Vietnam Real Estate Association, the average selling price of some projects in Hanoi and Ho Chi Minh City ranges from 50 – 70 million/m2.².

In Hanoi, the price of apartments for sale recorded a continuous increase on both the primary market (selling from the investor) and secondary market (buyers from the investor, then reselling).

Specifically, the asking price at some projects such as: Phuong Dong Green Home from 35.5 – 48.9 million/m², TrinnityTower from 41.6 – 55.8 million/m², The Pavilion from 35.5 – 49 million .5 million/m², TSQ Mo Lao from 49.2 – 54.8 million/m², The Sakura – Vinhomes Smart City from 45.2 – 65.6 million/m², Masteri West Heights from 58.7 – 75.2 million/m², Heritage West Lake from 85.7 – 155.3 million VND/m².

In Ho Chi Minh City, in the first quarter of 2024, on the secondary market, apartment selling prices tend to increase compared to the previous quarter and increase a lot in some districts such as District 7, Tan Phu, Tan Binh. , Phu Nhuan, some projects have a high average price increase in the first quarter of 2024.

Accordingly, the selling price at projects: Thu Thiem Green House ranges from 25.5 – 30 million VND/m2.²Happy City from 23 – 27 million VND/m2²My Phuc from 39.3 – 52.8 million VND/m2²Green River from 37.5 – 42.4 million VND/m2²Carillon Apartment from 45.3 – 53.3 million VND/m2² Garden Gate from 58.8 – 69.5 million VND/m2².

Also according to the Ministry of Construction, in the first quarter of 2024, the demand for individual houses and land plots increased compared to the previous quarter and compared to the same period last year.

The number of individual housing and land transactions in Hanoi increased by 5 – 15% compared to the end of 2023, selling prices fluctuated between 80 – 220 million VND/m2.² and in Ho Chi Minh City, the selling price ranges from 90 – 250 million VND/m2².

In Ho Chi Minh City, the selling prices of individual houses, villas, townhouses, and land plots of some projects had a high average price increase during the quarter, of which Citi Bella 2 increased by about 4.3%, My Thai 3 increased by about 4.2%, Ha Do Villas increased by about 4.2%.

The whole country has 10 projects completed in the first quarter of 2024

Regarding housing supply across the country, the Ministry of Construction said that in the first quarter of 2024, there will be 10 completed projects with a scale of about 4,706 units, the number of projects is 34.48% compared to the fourth quarter of 2023 and equal to 71. .43% over the same period in 2023,

The number of newly licensed projects is 19 projects with a scale of about 9,774 units, the number of newly licensed projects is 95% compared to the fourth quarter of 2023 and 111.76% compared to the same period in 2023.

In addition, there are 38 projects eligible to sell future housing, with a scale of about 5,527 units, the number of projects eligible to sell future housing is 80.85% compared to the previous quarter. April 2023 and equal to 73.08% compared to the same period in 2023.

And there are 984 projects under construction, with a scale of about 421,353 units, the number of projects under construction is 115.22% compared to the fourth quarter of 2023 and 140.97% compared to the same period in 2023. .