Hanoi apartment flippers trapped as market downturn keeps buyers away
Speculators who bought apartments in Hanoi from developers before or during construction are struggling to sell their units amid plunging prices and high mortgage interest rates.
In Hanoi, apartment flippers are struggling as the market downturn has reduced buyer interest. Many speculators, who bought properties in 2024-2025, now face payment pressure and the end of interest rate subsidies. Thuy Vy, a 35-year-old buyer, paid VND3 billion for a one-bedroom apartment and is now stuck paying the remaining 45% due next month.
She has reduced the price, but inquiries remain low. Tuan, a 40-year-old buyer, purchased a property in a nine-tower development for about VND4 billion and is also facing difficulties. He must pay nearly VND2 billion, with rising bank interest rates making it challenging to find a buyer. The Vietnam Association of Realtors reported that prices in several Hanoi localities have fallen by 8% to 13%, with asking prices down from their peaks.
Brokers note that many speculators are abandoning short-term flipping strategies and are simply looking to sell quickly, accepting losses. The heavy leverage many investors used in the past is now causing financial distress, and experts warn of a potential saturation phase in the market as more properties enter the supply.
Written by urgent.news from VnExpress Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
