Hanoi apartment sales fall 52% year-on-year in third quarter
Consultancies reported weaker demand as mortgage rates remained high and new supply was dominated by high-end and luxury homes.
Hanoi’s apartment sales fell by 52% from a year earlier and 40% from the previous quarter in the third quarter, according to real estate consultancy Knight Frank. Its measure of absorption across newly supplied apartments and existing stock dropped to 38%, the lowest since 2024.
Property services firm Avison Young separately reported that sales of new apartments accounted for 31% of available inventory, against 70–80% a year earlier. It cited prices beyond buyers’ means and elevated interest rates.
Primary-market prices rose 1.5–2.3% quarter-on-quarter, although Avison Young said increases had slowed since late 2025. The average apartment price was US$4,180 per square metre. New high-end units in eastern and western satellite urban areas cost US$3,300–US$4,500 per square metre, while prices in the inner city and West Lake West ranged from around US$5,500 to US$9,800.
High-end and luxury apartments represented more than 80% of new inventory, concentrated mainly in the east and west. There was almost no supply of midrange or affordable units. Demand increasingly came from people intending to occupy their homes rather than resell them.
Floating mortgage rates reached 12–15% annually. In the resale market, cash buyers negotiated reductions of 8–12% from homeowners whose grace periods for principal repayments had ended.
