Hanoi is expected to have about 70,000 apartments for sale from 2026.

The information was provided by real estate consultancy Savills in a recent market report. The company said that the supply of new apartments in Hanoi will increase sharply from 2025.

Specifically, about 25,200 apartments will be launched on the market this year. 70% of the market share comes from large urban projects with the majority of the class B segment.

From 2026 onwards, Savills forecasts that around 70,000 units from 91 projects will be launched for sale. Most of the primary supply will come from suburban areas such as Dong Anh, Hoai Duc and Hoang Mai.

This growth will continue from 2024 - the end of the cycle of scarcity of apartments in Hanoi after many years. Last year, the capital market recorded nearly 25,000 new apartments launched, the highest in 5 years, mainly coming from two urban areas Vinhomes Smart City (Nam Tu Liem) and Vinhomes Ocean Park (Gia Lam). In the fourth quarter alone, the number of new products increased sharply by 146% quarter-on-quarter and more than 350% year-on-year.

The increase has also been noted by many research units. Real estate services firm CBRE said the number of new apartments launched for sale in Hanoi in 2024 tripled compared to the previous year. This is also the highest annual supply since 2020.

This unit forecasts that the number of new apartments in the capital will reach more than 31,000 units in 2025, higher than last year. New supply tends to expand to the South (Hoang Mai district), East (Long Bien district) and West (Dan Phuong district).

"2025 will start a new cycle of the housing market when supply is increasingly abundant, promoting competition among investors," CBRE said.

Despite more abundant supply, Hanoi apartment prices are still getting more expensive. Savills said that the primary asking price (prices from investors) last year reached VND75 million per square meter, up 9% quarter-on-quarter and 29% year-on-year. In terms of apartments sold, nearly 60% were priced above VND4 billion. Units priced at VND2-4 billion accounted for 40%. Only 1% of apartments were priced below VND2 billion.

While housing prices increase inversely to the affordability of the majority of people.

According to the General Statistics Office, the average monthly income of workers in the capital as of the third quarter of 2024 will reach 10.7 million VND per month, equivalent to 21.4 million VND per household.

"To buy an apartment in Hanoi, buyers need a minimum income of VND45 million to VND210 million per month, depending on the area," said Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association.