Hanoi apartment market faces price falls and 5‑year financing offers

The secondary apartment market in Hanoi is entering a correction phase. Sellers are cutting listing prices to speed sales as buyers shy away from high interest rates. Examples include a three‑room unit in Từ Liêm reduced by VND 700 million from three months earlier and a house in Phú Đô lowered by VND 600 million after months on the market. Overall, Batdongsan.com.vn reports average secondary‑market prices slipping from about VND 88 million/m² in February to VND 85 million/m² in May, a 2 % decline, with deeper cuts of 4‑9 % in some projects.

At the same time, developers are introducing longer‑term financing schemes to attract cash‑rich buyers. The Parkland – Imperia Ocean City project offers a “5‑year no‑principal‑interest” plan: 0 % interest until handover, followed by a fixed 6‑6.8 % rate for two years, and principal repayment deferred for up to 60 months. The package aims to ease cash‑flow pressure for young families facing rising loan costs.

Both trends illustrate how higher borrowing costs and cautious consumer sentiment are reshaping Hanoi’s residential market, prompting price adjustments and innovative financing to sustain demand.