Hanoi housing market faces record supply, slowing sales and broker layoffs
In the first half of 2026, Hanoi’s apartment market reached a record supply of 16,600 new units, the highest level since 2020. Despite the influx, sales totaled just over 5,800 units, representing only 68% of the new inventory and a sharp drop from the 90%+ absorption seen in 2024‑2025.
Primary‑market prices rose 12% year‑on‑year to about VND 95 million per m², while secondary‑market prices fell 3% to VND 60 million per m² – the first quarterly decline since late 2022. Investors are shifting from short‑term “flipping” to long‑term rental assets; as Nguyen Minh Hoàng noted, “the important thing now is a property that can be rented, occupied and hold value over the long term.”
Transaction activity slowed dramatically, with Q1 2026 recording roughly 19,500 deals – a 48% drop from Q4 2025 and 7% below the previous year. Only about 17% of buyers plan to purchase within six months, and 41% intend to wait a year.
The downturn has spurred a wave of real‑estate firm closures: 1,463 companies dissolved in the first half of the year, a 120% increase year‑on‑year, leaving many agents unemployed or forced to change professions. The market now favors secondary apartments, which offer lower prices, ready‑to‑rent status and clearer legal titles.
High loan interest rates remain a key factor restraining buyer decisions and reshaping market dynamics.