Over 10,800 new apartments supplied to Hanoi market in 1H

Over 10,800 new apartments in Hanoi were offered to the market in the first six months of the year, the highest supply of the same period since 2020, according to Nguyen Hoai An, Senior Director for the research and consulting division at CBRE Vietnam.

The majority of new supply concentrated in the west of Hanoi.

The abundant supply has led to a strong growth in the number of apartments sold in the first half of the year, exceeding the level recorded in the same period last year. In the second quarter, 10,170 units were sold, a five-fold rise compared to the previous quarter and the same period last year.

The average selling price of apartments in Hanoi in the primary market is estimated at nearly VND60 million ($2,357) per sq m in the second quarter of 2024, up 6.5% over the previous quarter and nearly 25% year-on-year.

Hanoi is projected to offer over 9,000 apartments in the remaining months of the year.