Chair of the Vietnam Real Estate Association (VNREA) Nguyen Van Khoi has sent a document to affiliated units, members, and businesses to implement the Prime Minister’s guidance on controlling prices and stabilizing the real estate market.

The real estate market faces pressure due to a supply-demand imbalance, particularly a shortage of affordably priced housing.

Khoi warned that without strong and timely measures, rising real estate prices will continue to erode people’s purchasing power, directly impacting social welfare and sustainable economic development.

VNREA called on member businesses to act as key market players, not only in project development but also in upholding business ethics, protecting people’s rights, and stabilizing the market.

Businesses are required to strictly comply with the law and government directives, particularly in determining sale prices, raising capital, disclosing information, and ensuring market transparency.

The VNREA Chair urged businesses not to exploit the scarce supply to manipulate sale prices, create artificial prices, or release unverified information to stimulate speculation, profiteering, or market disruption.

“Any unreasonable price increases far exceeding the actual value of real estate will be condemned and proposed for strict legal action,” VNREA said.

The Ministry of Construction’s first quarter 2025 report showed that apartment sale prices in Hanoi and HCM City have stabilized, no longer seeing the sharp increases of 2024.

In Hanoi, after multiple quarters of continuous increases, apartment prices have become more stable. However, despite this, apartment prices in Hanoi remain high.

Listed prices typically start from VND50 million/sq m, with almost no affordable apartments below VND45 million/sq m.

At The Sakura - Vinhomes Smart City, apartments are listed at VND60-80 million/sq m; Eco Lake View (Hoang Mai) at VND58-70 million/sq m; and Vinhomes D'Capitale (Cau Giay) at VND75-110 million/sq m.

Savills Vietnam, surveying over 400 projects, reported that the average secondary (resale) apartment price in the first quarter was around VND60 million/sqm, down slightly by 1 percent compared to the previous quarter.

Surveys by real estate listing platforms also noted that Hanoi’s apartment market began stabilizing in late 2024. Listed prices and transaction volumes for many projects saw slight declines. Compared to the peak in early 2024, some projects have reduced prices by 2-5 percent.

According to the Department of Construction, in the first three months of 2025, Vietnam completed 14 projects with over 3,800 units (140 percent of the same period in 2024). New permits were granted for 26 projects (144 percent of Q4/2024). Additionally, 59 projects with nearly 19,800 units were eligible for future sales (155.2 percent of the same period in 2024).

Hong Khanh