Ha Noi’s villa and townhouse market has shown many positive signs after a period of stagnation.

Vibrant market activity in Q1  

According to Savills Q1/2025 Market Brief, in the first 3M/2025, total sales reached 1,629 dwellings, which was 49% lower QoQ but surged sharply YoY, with good activity in Vinhomes Global Gate which sold more than 80% of its stock, versus approximately 30% of Vinhomes Wonder City stock being absorbed. 

The market continues to shift towards suburban areas, with Dong Anh leading at 52% of primary transactions, followed by Dan Phuong at 43%. The remaining 5% of transactions came from other rural districts such as Thuong Tin and Ha Dong. Quarterly absorption fell by 26 ppts QoQ to 41% but increased by 13 ppts YoY, reflecting an improving buyer sentiment.  

Regarding prices, the report revealed that low-rise apartments saw prices, QoQ decline but a YoY increase. Specifically, villa prices dropped 14% QoQ but doubled YoY, and averaged VND 282 million/ m² LA. Townhouse prices were VND 239 million/ m² LA, declining by 14% QoQ but growing 24% YoY.  Shophouses were 12% lower QoQ and stable YoY, reaching VND 278 million/ m² LA.  

Do Thu Hang, Senior Director, Advisory Services, Savills Ha Noi, explains: “The primary prices of Ha Noi’s villa and townhouse were adjusted due to the new suburban projects launched this quarter, which offer more affordable pricing than previous projects.”  

The secondary market held a contrasting pattern with prices increasing QoQ. Villa prices increased 10% QoQ to VND 195 million/ m² LA. Townhouse prices increased by 15% QoQ to VND 227 million/ m² and shophouses grew 9% QoQ to VND 266 million/ m² LA.  

The expert also states that low-rise property values have increased significantly over the past five years. Villa prices increased by up to 29% pa, while townhouses increased by 22% pa, outperforming shophouses (11-16% pa), making this segment continue to attract investment.  

Investment requires vision and long-term planning    

The Sr. Director confirms that the market activities in Q1/2025 reflect a selective recovery in the villa and townhouse market, partly due to projects with convenient accessibility currently or in the future, and experienced developers. Additionally, developers are focusing mainly on townhouses and shophouses with lower total prices than villas, aiming to increase demand. Investors are prioritising products with higher value and long-term appreciation potential.   

1. The supply

Primary stock reached 4,004 dwellings, falling 20% QoQ but resulting in six times higher YoY. New launches reached 2,319 dwellings, and Vinhomes Wonder City accounted for 97%. The project has a lower starting price than the previously launched Vinhomes Global Gate, which noticeably influenced average primary pricing across the segment.  

2. Shifting price structure  

Notably, the price structure continues to shift, with the number of products priced above VND 30 billion increasing to 36% in Q1/2025 from 17% in 2024. The VND 20-30 billion segment holds the majority at 62% with products below VND 20 billion not gaining traction. This challenges those expecting high profits, especially as product prices remain high. As a result, many investors are shifting toward satellite provinces as products priced within VND 10-20 billion are rare in Ha Noi.  

In the secondary market, steady price increases clearly reflect a focus on long-term investing rather than short-term speculation. The expert advises that the current phase requires investors to carefully consider the real value of products, particularly the price per sq m relative to construction quality and location.  

The Sr. Director also highlights: “In the period that stock and gold markets are volatile, capital flows tend to return to real estate, especially products with reasonable prices and stable profit potential. However, this is no longer an easy game for everyone. Investors now need capital and long-term vision, prudence, and flexible strategies to choose the right products.” 

3. Future Outlook 

In 2025, 2,210 new supply units from nine projects will enter the Ha Noi market. The most notable ones are mega-projects from Sunshine Group such as Sunshine Grand Capital (Hoai Duc), and Sunshine Royal Capital (Tay Ho). Other supply will come from existing projects like GIA22 by Kita (Tay Ho) and Solasta Mansion (Ha Dong). From 2026 onwards, an additional 19,812 units are expected to enter the market.  

Read more:

• Ha Noi: Shifting to Suburban Areas Becomes Clearer