Luxury apartment prices soar in Hanoi amid supply shortage
The supply of luxury apartments in central Hanoi is becoming increasingly scarce, pushing starting prices to new highs.
Novaland Group has launched a real estate centre at the Aqua City project, Bien Hoa city, Dong Nai province.
The Novaland’s ninth real estate centre will serve as a a bridge to connect to investors and customers to the latest information about the Aqua City project, while also bringing quality services in accordance with Novaland’s standards to customers when they visit.
“Novaland is dedicated to developing Aqua City as an international-standard ecological - smart township that meets the growing green living demands of both present and future urban generations. So we hope there will be more and more customers visiting the Novaland Real Estate Center to explore the Aqua City project for both investment or residence needs in the future,” said a representative of Novaland Group.
Aqua City is the first urban area developed as an ecological – smart city among Novaland’s satellite real estate projects. With a total area of hundreds of hectares, Aqua City will be developed with a synchronous orientation, with diverse, luxurious facilities meeting the actual needs of residents.
Aqua City is located at the eastern gate of Ho Chi Minh City, a strategic location that is convenient to the big economic centers in the southeast.
Once the big infrastructure projects of Dong Nai are completed, it will take about 15 minutes to reach the centre of Thu Thiem, 20 minutes to reach Long Thanh International Airport, 10 minutes to reach the center of Bien Hoa city, and five minutes to reach the High-tech Park in District 9 from Aqua City.
Novaland now owns a portfolio of more than 40 housing projects in key locations in Ho Chi Minh City with a variety of products including apartments, villas, shophouses and offices.
Novaland continues to focus on the group’s key business of real estate investment and development in the high-middle segment with three key product lines, including: central real estate in Ho Chi Minh City, satellite city real estate in neighboring provinces such as Dong Nai, and hospitality real estate in areas with great tourism potential such as Can Tho, Ba Ria - Vung Tau, Phan Thiet - Binh Thuan, and Cam Ranh - Khanh Hoa.
The supply of luxury apartments in central Hanoi is becoming increasingly scarce, pushing starting prices to new highs.
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Hanoi is set to receive a significant future supply of over 100,000 apartments starting from 2025, a tenfold increase compared to the current availability.
Hanoi’s apartment prices are expected to continue rising until supply and legal bottlenecks are resolved, according to experts.