Average apartment prices in the Hanoi primary market rose by 7 percent year-on-year in the first quarter to 1,461 per square meter, according to real estate consultancy CBRE.
A view of Cau Giay District in Hanoi. Photo by Shutterstock/TuananhVu.
With new projects coming up in prime locations during the quarter, prices in the high-end and affordable segments rose by 9 percent and 5 percent.
Unlike in HCMC, where mid-priced apartments accounted for only 41 percent of the total number in the primary market during the period, they accounted for 80 percent in the capital.
Prices increased by 5-9 percent along the elevated Ring Road No.2 and other places with firm development plans like Long Bien District, CBRE reported.
The number of new apartments in the city rose 36.6 percent to 3,645 units, Jones Lang LaSalle (JLL), another real estate consultancy, said.
It expects supply for the full year to be 20,000-25,000 units, while CBRE put it at 24,000-26,000.