Housing in the center of Ho Chi Minh City (District 1) and Hanoi (Hoan Kiem District) increased by 22-27 times in the period 2002-2018.
According to the housing market report published by Batdongsan.com.vn, the average house price in the central districts of Saigon and Hanoi by the end of 2018 is holding at 292-297 million dong per m2.
This unit said, in 2002, the average house price in Hoan Kiem district, Hanoi only recorded 11 million dong per m2. At the same time, the average house price in District 1, HCMC reached 13 million VND per m2.
Thus, in the last 17 years, from the 2002 to 2018 milestone, the average house price in the districts of the central core area of Saigon and Hanoi has been strongly changed, increasing 22-27 times in turn.
In addition, this report also mentioned the gradual increase in the real estate price index in the two largest cities in Vietnam in the last 3 years. Ho Chi Minh City surpassed the property price index up 19 points since the first quarter of 2017 to the first quarter of 2019 while Hanoi only increased slightly.
Particularly for the condominium market, the average asking price of apartments in HCMC has increased by 53% since 2014 and Hanoi has increased by 16%. Thus, over the past half decade, the growth rate of Saigon apartment buildings is stronger than in Hanoi.