Experts believe that the upward trend in apartment prices will be difficult to cool down in the first half of 2026, although the pace of increase is likely to slow.
Previously, throughout 2025, the Ha Noi apartment market recorded clear improvements in both supply and absorption rates, which remained high. New supply reached the highest level compared with the same period over the past five years (2021–2025). This development helped maintain a clear recovery in market transaction activity.
While supply and liquidity improved, selling prices continued to record strong increases over a prolonged period. Over the past five years, apartment prices in Ha Noi have risen by an average of around 26% per year and are currently more than 200% higher than in 2019.
According to Do Thi Thu Hang, Senior Director of Research and Consultancy at Savills Ha Noi, entering 2026, apartment prices in Ha Noi will continue their upward trend, although the increase may be lower than in the previous period. Several factors indicate that prices are unlikely to cool, at least in the first half of 2026.
First is the impact of the new Land Law and the 2026 land price framework, expected to be applied from January 1, 2026, with prices closer to market levels. This will increase developers’ input costs, including land-use fees, site clearance and compensation costs.
In addition, construction costs continue to face pressure from material prices, labour costs and financial expenses, forcing developers to reflect these increases in selling prices. At the same time, the mismatch between supply and demand has not yet been fully resolved. Although supply in 2026 is forecast to improve compared with previous periods, most new supply remains concentrated in the mid-range and high-end segments, while affordable housing projects continue to be scarce. This keeps the overall average price level high.
Savills Viet Nam assesses that infrastructure will continue to be the leading driver of the market, with Dong Anh, western Ha Noi and southern Ha Noi emerging as potential areas. The strong development of key infrastructure projects will be the most important driving factor for the Ha Noi real estate market in the coming years. In particular, the commencement and acceleration of new bridge projects, along with the completion of ring roads and new metro lines such as lines 2 and 5, play a crucial role in expanding urban space, improving connectivity and increasing housing supply.
Notably, ring roads such as Ring Road 1, Ring Road 2.5, Ring Road 3.5 and especially Ring Road 4 are being implemented with clearer progress than in previous periods. In reality, compensation, site clearance and infrastructure completion have shown increasingly positive changes, creating an important foundation for the development of the housing market.
Driven by infrastructure, the outlook for Ha Noi’s housing market is expected to show clear regional differentiation. Areas where infrastructure connectivity is realised sooner will have stronger prospects. Areas such as Dong Anh and western Ha Noi are considered potential destinations in the near term, benefiting directly from ring roads and radial connections, while medium-term prospects are gradually expanding towards the south of the city.
In addition to infrastructure, the outlook of each area also depends on the readiness of supply. Areas where developers have completed legal procedures, prepared for investment and can bring products to market early will have a clear advantage in attracting both end-user demand and investment demand. If more reasonably priced products are added, the market will better harness demand in Ha Noi, at a time when some investors are expanding their search for opportunities to neighbouring markets such as Hung Yen, Hai Phong, or further afield such as Da Nang and several southern provinces.
