HCMC vs. Hanoi Apartment Prices 2025: Trends & Predictions
Despite Hanoi’s rapid property price growth, Ho Chi Minh City (HCMC) remains significantly more expensive, with average apartment prices 20% higher than in the capital.
According to Knight Frank, in 2024, Hanoi’s apartment prices surged by 35%, reaching an average of 72 million VND/sqm ($2,850)—the highest in a decade. Meanwhile, HCMC prices rose by 12%, reaching an average of 90 million VND/sqm ($3,560).
While Hanoi’s price growth rate is higher, HCMC continues to command premium prices due to its stronger demand for high-end and luxury properties.
Hanoi: Surging Demand, Abundant Supply
- 27,300 new apartments were launched in Hanoi in 2024, 3x higher than in 2023.
- 98% absorption rate, showing strong demand for new housing.
- New developments, particularly in urban complexes, are expected to continue expanding.
HCMC: Supply Shortage Drives Prices Up
- Only 4,900 new apartments were launched in 2024, significantly lower than Hanoi.
- Stricter credit policies and legal issues have constrained new supply.
- Luxury and ultra-luxury segments dominated, driving higher average prices.
With limited new supply in HCMC, existing apartment prices have risen steadily, pushing buyers toward suburban areas and secondary markets.
Future Price Trends & Market Forecast (2025-2026)
HCMC: Moderate Growth, But Prices Stay High
- New supply is expected to increase to 8,600 units in 2025 and 15,400 in 2026.
- Prices are projected to rise 6-8% annually, driven by ongoing supply constraints.
Hanoi: Growth Slows as More Units Enter the Market
- Over 20,000 new apartments are expected annually in 2025-2026.
- Price growth is predicted to slow to 5% in 2025 due to higher supply.
Hanoi’s prices have historically been lower, but its fast-growing urban expansion and improved infrastructure may eventually narrow the gap with HCMC.
Investment Insights: Where to Buy in 2025?
HCMC: Focus on High-Growth Suburban Areas
- Thu Duc City, Binh Chanh, and District 9 offer more affordable alternatives.
- Metro Line 1 and new infrastructure will boost suburban property values.
Hanoi: Urban Complexes & Expanding New Districts
- Gia Lam, Dong Anh, and Hai Phong are emerging hotspots with strong potential.
- New large-scale developments will cater to growing housing demand.
Investors should monitor supply trends and upcoming infrastructure projects to maximize capital appreciation in both cities.
Vietnam’s real estate market in 2025-2026 will continue to be shaped by supply constraints in HCMC and rapid expansion in Hanoi. While HCMC maintains its price premium, Hanoi’s affordability and strong new supply pipeline make it an increasingly attractive investment destination.
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