The number of people in Hanoi searching for real estate in Ho Chi Minh City in November 2024 increased by 7% compared to January 2024.
Real estate investment cash flow is showing signs of looking for opportunities to “flow” to the South after a period of focusing mainly on Hanoi. The number of Hanoians searching for real estate in Ho Chi Minh City in November 2024 increased by 7% compared to January 2024. In contrast, the number of Ho Chi Minh City people searching for real estate in Hanoi decreased by 12% in the same period, with up to 66% of Hanoians surveyed interested in real estate in the South.
The above data was recently announced by PropertyGuru Vietnam at the Vietnam Real Estate Conference – VRES 2024 recently held in Ho Chi Minh City. Many experts believe that strong changes in transport infrastructure are also an important factor in accelerating this cash flow shift. New metro lines and large projects being implemented in Ho Chi Minh City, especially in Dong Nai, Binh Duong and Long An, have created great attraction for investors. These projects not only meet housing needs but are also long-term investment opportunities, helping these areas become hot spots in the real estate market.
According to Mr. Dinh Minh Tuan, Southern Regional Director of PropertyGuru Vietnam, although the Southern market is facing some legal issues, the opportunities and potential in this area are still huge. The growth in interest in real estate segments in Ho Chi Minh City and surrounding areas further demonstrates the attractiveness of the Southern market. The average selling price of apartments in Ho Chi Minh City is currently at VND55 million/m², while in Hanoi it has reached VND61 million/m². Despite the price difference, the trend of buyers and investors in Ho Chi Minh City continues to increase.
The real estate market picture between the North and the South, especially in the two major cities of Hanoi and Ho Chi Minh City, is showing a clear differentiation. According to data from PropertyGuru Vietnam’s price history tool, real estate prices in Hanoi increased sharply in most segments in November 2024. Apartment prices in Hanoi averaged VND61 million/m², higher than in Ho Chi Minh City, where apartment prices were VND55 million/m².
Notably, the price of private houses in Hanoi has made an impressive breakthrough, reaching 197 million VND/m², an increase of 58% compared to January 2023. In contrast, in Ho Chi Minh City, the average price of private houses for sale is only 108 million VND/m², a decrease of 10% in the same period. These figures not only reflect the difference in investment attraction but also show the opposite fluctuating trends in the two major markets of the country.
Notably, green real estate is emerging as a strong development trend in the future. Consumers increasingly prioritize environmentally friendly projects, especially those that apply energy-saving and health protection standards. According to Mr. Le Bao Long, Marketing Director of PropertyGuru Vietnam, 86% of survey participants expressed interest in buying green homes, and 88% were willing to pay more to own real estate that met these standards. This is a positive signal for green real estate projects in the context of the market increasingly focusing on sustainability and long-term value.
Many experts believe that 2025 will be the year the real estate market maintains sustainable growth thanks to important macroeconomic factors. These factors will not only help the market recover but also create long-term opportunities for investors.