Vietnam’s apartment market is getting more supply, but not enough affordable stock. CBRE-linked reporting shows Hanoi introduced 16,600 new apartments in the first half, the strongest first-half launch total since 2020, while Q2 demand absorbed only about 68% of newly launched supply.
Hanoi Supply Is Larger And More Expensive
No newly launched Hanoi apartments in the second quarter were priced below VND60 million per square metre, excluding VAT, maintenance fees and discounts. Units above VND120 million per square metre made up a large share of new supply, while the primary average reached nearly VND95 million per square metre.
Secondary Prices Are Starting To Push Back
The secondary market gave the clearest resistance signal, with average prices slipping nearly 3% quarter on quarter to around VND60 million per square metre. That was the first notable decline since late 2022 and suggests buyers are comparing new launch prices against more negotiable resale options.
HCMC Adds Supply But Liquidity Is Selective
One Mount and VARS-linked commentary also showed Ho Chi Minh City supply improving, with liquidity strongest below the VND120 million per square metre threshold. Luxury and super-luxury apartments account for too much of new supply, while affordable commercial housing remains largely absent.
What To Watch Next
Vietnam’s second-half market should remain split. Hanoi and HCMC can absorb well-located mid-to-high-end projects, but developers pushing above VND120 million per square metre will need stronger payment terms or slower launch schedules. Track Vietnam real estate daily: For current listings, price trends, and market data, visit vietnamhousingmarket.com.
