Hanoi apartment prices jump on real estate market downturn

Apartment prices in Hanoi, in some instances, have doubled on the back of a slowdown in the construction and real estate sector, Doanh Nhan Vietnam is reporting. 

Key points:

• At the end of Q3 2023, 42 commercial housing projects had been finished accounting for about 15,966 properties;
• This was barely more than half (54 percent) of the same period in 2022; and 
• Partly as a result of this lower supply, apartment prices in Hanoi have increased by 6 to 9 percent compared to Q1 2023.