Apartments in the capital city Hanoi have gained in popularity in recent years, as a source of rental income and a reliable safe haven.

VOV.VN - Gamuda Land, a major Malaysian real estate corporation, is reportedly planning to develop a new apartment project in northern Hai Phong city, marking the firm’s strategic expansion into one of Vietnam’s key economic and industrial hubs.

Hanoi’s authorities have granted approval for more than 1,200 apartments in two prominent residential projects, Lumi Hanoi and Heritage West Lake, to be sold to foreign buyers.

Foreign entities and individuals can now own up to 30% of the residential apartments in a building, including mixed-use developments, under a new decree effective on August 1.

The supply of new apartments in Hanoi increased fourfold in the second quarter of 2024 from the previous quarter, Nguyen Hoai An, Senior Director for the research and consulting division at CBRE Vietnam, said at a press conference on July 9.

Apartment rents in Ho Chi Minh City have surged by up to 28% since last year, especially in the mid-priced and high-end segments.

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

The real estate market has witnessed positive developments, with a slew of projects, including billion-dollar projects, being announced and called for investment in the first quarter of 2024.

VOV.VN - Vietnam is striving to build 130,000 apartments for low-income earners and workers in industrial parks this year in line with a Government Resolution issued in January 2024, said the Ministry of Construction.

The real estate markets in Vietnam’s two largest cities, Hanoi and Ho Chi Minh City, indicated signs of recovery amid protracted woes in the final months of last year, according to a Savills report.