Thanh Ha apartment prices drop despite low demand

Apartment sales in the Thanh Ha urban area have remained stagnant despite significant price reductions. While some villas and adjacent properties have found buyers following deep price cuts, apartments are struggling to attract interest.

At the height of a market surge, some units were priced between 3.8 and 4 billion VND. Current listings for 65-76m2 apartments have dropped to approximately 2.5-2.8 billion VND, representing a decrease of over 1 billion VND per unit. Local brokers report that potential buyers are adopting a wait-and-see approach, particularly due to the anticipated launch of six new apartment buildings after the Lunar New Year and interest in social housing options.

The price trajectory in Thanh Ha has seen extreme volatility over the last decade. In 2018, prices were around 9.5-10.5 million VND/m2, with 60m2 units costing roughly 700 million VND. By 2021, prices rose to 13-17 million VND/m2. During the recent Hanoi apartment fever, prices peaked at over 50 million VND/m2 before cooling to the current range of 38-40 million VND/m2.