The primary apartment market in Hanoi continued its upward pricing trend in the first quarter of 2025, according to the latest report by consultancy Savills Vietnam.

The average primary price was recorded at VND79 million ($3,038) per sq.m, up 5% quarter-on-quarter and a significant year-on-year increase of 32%.

Over the past five years, the average annual growth rate for Hanoi's primary apartment prices has been an impressive 22%, highlighting the strong capital appreciation potential of the capital city’s real estate market, the report shows. By area, Dong Anh district saw the most substantial growth, with an average price increase of 42%, followed by Tay Ho district with an annual growth rate of 40%.

However, the average secondary apartment price in the first quarter was VND60 million ($2,307) per sq.m, slightly down 1% quarter-on-quarter.

The report also shows that in the first three months of the year, Hanoi’s new apartment market recorded a significant decline in supply, reaching 7,940 units, down 39% quarter-on-quarter.

The outlook for Hanoi's  apartment market in the 2025–2026 period reveals notable prospects for new supply. In 2025, the market is projected to welcome approximately 7,400 newly launched apartments.