Prime Minister Pham Minh Chinh has pressed for answers on why apartment prices remain persistently high and ordered clarification on whether real estate market manipulation, including hoarding, price rigging, and speculative practices, has occurred.

Apartment prices in central HCM City have reached record highs of up to VND600 million (US$23,500) per square metre, fuelling concerns over housing affordability and a widening gap between the property market and average household incomes.

Following a hike in 2024, apartment prices are likely to continue to soar in 2025, according to the Ministry of Construction (MoC).

Apartment prices in Hanoi have witnessed a significant surge of 20-33% within the first two months of the year.

Despite signs of transaction stagnation, apartment prices in several areas of some big cities like Hanoi and Ho Chi Minh City still increased during the second quarter of 2023, said the Ministry of Construction (MoC).

The Savills Hanoi's report on the capital's property market in the third quarter of 2022 was released last week.

Land prices in Hanoi stayed at high price levels in the third quarter, while they decreased slightly by 5-7% in some projects in Ho Chi Minh City, according to Ministry of Construction’s (MOC) real estate bulletin on the third quarter.

The pandemic and social distancing have not restrained apartment price increases. Even with VND1.5 billion, it’s difficult to buy an apartment in the Hanoi suburbs.

The primary prices of apartments are likely to increase about 5 – 7% annually over the next three years due to higher product positioning and expectations for more launches of high-end apartments in prime and central locations, according to CBRE Vietnam.

Despite the pandemic impacting the resort, hotel and rental market, the housing and apartment segment still has projects for sale at record prices.