Brian Jeffrey
In recent years, property values in some of Hanoi’s prime urban districts have soared, often doubling despite facing criticism and challenges in certain developments.
Cau Giay District covers 287.8 hectares and features many urban initiatives, with about 73.2% of the area developed. Major arteries such as Nguyen Van Huyen, Me Tri, Duong Dinh Nghe, and Pham Hung enhance accessibility, making it a desirable spot for both homes and businesses.
Trung Hoa Nhan Chinh, one of the district’s first major developments, encompasses 300,000 square meters and continues to be a sought-after residential zone. Established between 2001 and 2006, its central position allows easy access to key city thoroughfares. Two years prior, apartments were priced between 24–35 million VND (1,000–1,430 USD), but prices have since jumped to around 60 million VND (2,450 USD) per square meter.
Vinhomes D’Capitale, launched in 2016 next to Trung Hoa Nhan Chinh, sparked significant interest upon its release. With three fronts facing busy streets—Tran Duy Hung, Khuat Duy Tien, and Hoang Minh Giam—this development offers excellent connectivity, leading to an average apartment price now of about 100 million VND (4,100 USD) per square meter.
Nam Trung Yen is another noteworthy area in Cau Giay, designed as a premier residential community. Unfortunately, it has suffered from unfinished infrastructure, deteriorating quality, and surrounding chaos, impacting its reputation. Still, location has pushed property values to more than double in just one year.
In Nam Tu Liem District, high-demand projects such as My Dinh, Me Tri, Song Da Sudico, and Vinhome Smart City are prominent. Currently, apartments in Song Da Sudico are priced at approximately 60 million VND (2,450 USD) per square meter, over twice the rate from 2023.
The Manor, a luxury development, features apartments averaging 80–90 million VND (3,270–3,680 USD) per square meter. My Dinh has undergone similar price increases, with modern projects like The Zei going from 50 million VND (2,040 USD) five years ago to over 90 million VND (3,680 USD) today.
Linh Dam Urban Area, originally developed in the 1990s, was once a paragon of urban planning, complete with 74 hectares of water, parks, and amenities. However, alterations to the master plan have led to issues like congestion, detracting from its initial appeal.
In contrast, Vinhomes Times City shines as a model of luxury living at the intersection of important roads such as Ring Road 2 and Minh Khai Street. Apartments that debuted at 30 million VND (1,230 USD) per square meter now range from 80–100 million VND (3,270–4,100 USD).
The Ngoai Giao Doan (Diplomatic Corps) zone continues to be a highly desirable property location. Apartments once priced at 35 million VND (1,430 USD) in 2019 are now reaching up to 120 million VND (4,910 USD) per square meter, with some high-end listings approaching 17 billion VND (694,000 USD), including furnishings.
Nghia Do Urban Area offers European-style living featuring unique architecture, with 100-square-meter apartments now costing between 6–7 billion VND (245,000–285,000 USD), a considerable increase from their original price.
Tay Ho Tay, located near the Ngoai Giao Doan area, spans nearly 190 hectares and is one of Hanoi’s premier developments. Since 2021, property prices have dramatically increased; duplex apartments that were 100 million VND (4,100 USD) per square meter in 2022 are now priced up to 220 million VND (9,000 USD).
According to Savills, Tay Ho Tay has consistently outperformed the general property market in Hanoi in terms of price increases, with villas and townhouses listed between 400–800 million VND (16,300–32,700 USD) per square meter, while apartment prices range from 90–135 million VND (3,680–5,510 USD), with some exceeding 150 million VND (6,130 USD).
Viet Hung Urban Area, located at the northeast gateway of Hanoi and spanning 210 hectares, is well-connected to National Highways 5 and 1B. Developed by HUD, it was among the first areas with integrated infrastructure in Hanoi, and property prices here have increased three to four times since its inception.
