Illustrative image (Photo: VNA)A survey by C&W Vietnam revealed that the launch of luxurious apartment project The Grand Hanoi at the end of last year, which were sold out inthe first offering, has established a new height for the segment’s prices inthe capital city.
A number of prestigious developers in the south, such asMasterise Homes, Phu Long and Hung Thinh, have entered Hanoi’s property market recently. The move is expected to set the scene for the launch of morehigh-quality units and raise the average price of the market.
Statistics show that Hanoi’s Gross Regional DomesticProduct (GRDP) grew by 2.92 percent in 2021, lower than 4.18 percent of theprevious year, as a consequence of the severe COVID-19 outbreaks.
However, FDI flows into the city rose by 10.6 percent to 1.5billion USD. Additionally, several key transport projects of the city have been completed, notably the Cat Linh - Ha Dong urban railway and theintersection of Ring Road No.3 and Hanoi-Hai Phong Expressway.
These factors are likely to help the city’s real estatemarket gain greater growth momentum in 2022 and the following years, accordingto C&W Vietnam.
In the final quarter of 2021, the average price of the class-A units stood at 137.3 million VND (or 5,927 USD) per sq.m, doubling thatof the previous quarter and the same period last year. The prices of theclass-B ones averaged 39.5 million VND (or 1,706 USD) per sq.m, up 4 percentquarter-on-quarter and 14 percent year-on-year. That of the class-C units edgedup 11 percent quarter-on-quarter and 16 percent year-on-year to 25.8 millionVND (or 1,112 USD) per sq.m./.
VNA
