Hanoi home prices have risen the fastest 

Despite being already high, home prices in Hanoi have continued to rise since the beginning of the year. The demand for rentals and the number of buyers looking for apartments have also increased compared to before.

Over the past 3-5 years, home prices in Hanoi have experienced tremendous growth. Though interest rate hikes dampened prices from mid-2022, some metro suburbs have doubled in value in less than two years. 

Tay Ho area leading the risen rents

Currently, many residential buildings in Tay Ho have rising rents. Lan Phuong, a landlord of a 150 sqm apartment in Tay Ho, said her home was leased out for foreign renters in the long term by a real estate agency. But she had some calls, offering to lease with higher rents, about 100 - 150 USD per month compared to the previous renting price. 

Many real estate agencies also witnessed the apartment projects in Pham Van Dong, Nguyen Van Huyen, Vo Chi Cong, and Lac Long Quan ... have increased sharply compared to the original price opened for sale a few days ago. A few years ago. For example, The Nine project on Pham Van Dong Street, with an actual cost of nearly 50 million VND/m2, is now offered for sale at 65 - 80 million VND/m2; Heritage West Lake project located on Lac Long Quan Street has an average original price of 123 million VND/m2, currently being offered for sale about 140 million VND/m2.

According to Tran Van, a broker in Tay Ho Tay, the number of new residential buildings opened for sale is small and has prices of about 100 million per acreage. 

Projects such as 6th Element, Phu My Complex, and Lac Hong Lotus, which have been in operation for several years, have also experienced a significant increase in value, at least one and a half times higher than their original prices. They are now much higher compared to the beginning of the year.

According to Van, home prices in Tay Ho Tay are skyrocketing as the government has approved the planning project for the headquarters of 36 ministries, departments, and central agencies in the Tây Hồ Tây and Mễ Trì areas.

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