According to property consultancy CBRE Vietnam, more than 5,800 apartments were sold during the quarter, matching the first-quarter absorption rate but well below the over 90 per cent typically recorded in 2024 and 2025.
CBRE said higher mortgage rates had made buyers more cautious, particularly those relying on financing, even as new supply continued to increase.
Average primary prices rose to about VND95 million (around USD3,610) per square metre, excluding VAT and maintenance fees, up 12 per cent from the previous quarter and 21 per cent year on year, driven by new launches in central districts.
Secondary prices, however, fell nearly 3 per cent quarter on quarter to around VND 60 million (about USD 2,280) per square metre, marking the first decline since late 2022.
CBRE expects nearly 39,000 apartments to be launched in Hanoi this year, exceeding the previous peak in 2019, increasing competition and prompting developers to adjust pricing and sales strategies.
In the landed property segment, new supply reached nearly 2,100 units in the first half, down 17 per cent from a year earlier, while second-quarter transactions fell 30 per cent from the previous quarter.
CBRE said the market was entering a period of adjustment, with future demand likely to depend on borrowing costs and buyer confidence, although long-term prospects remained supported by urban planning and transport infrastructure projects.
