{
  "id": 14419743,
  "title": "Hanoi apartment sales plunge 50% in Q3",
  "url": "https://urgent.news/2026/10/14/hanoi-apartment-sales-plunge-50-in-q3",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T09:38:33.000Z",
  "source": {
    "name": "VnExpress Business",
    "slug": "vnexpress-business",
    "url": "https://e.vnexpress.net/news/business/property/hanoi-apartment-sales-plunge-50-in-q3-5132193.html"
  },
  "original_language": "en",
  "account": "Apartment sales in Hanoi plummeted by 50% in the third quarter, according to recent reports from property firms Avison Young and Knight Frank. Despite a 1.5–2.3% quarter-on-quarter price increase on the primary market, growth in apartment prices has decelerated since late 2025. The average price per square meter stood at US$4,180, while satellite urban areas saw new high-end apartments ranging from $3,300 to $4,500 per square meter. The inner city and West Lake West area exhibited even more significant price variation, from $5,500 to $9,800 per square meter.\n\nReal estate consultancy Knight Frank noted a sharp decline in the absorption rate for new supply and existing inventory, dropping to 38%, its lowest level since 2024. New apartment sales plunged by 40% quarter-on-quarter and 52% year-on-year, indicating a shift in demand toward homeowners purchasing properties for their own use rather than flipping. Over 80% of new inventory in the high-end and luxury segments is concentrated in the eastern and western areas, leaving midrange and affordable apartments virtually nonexistent.\n\nHowever, buyers seeking homes to live in have encountered significant hurdles due to persistently high mortgage rates, with floating rates reaching 12-15% annually. On the secondary market, cash buyers have dominated negotiations, exerting pressure on homeowners whose principal repayment grace periods have ended to reduce prices by 8-12%. Homebuyers have consciously abandoned the pursuit of rising prices, opting instead for cautious evaluations and searching for genuine value.",
  "summary": "Sales of new apartments in Hanoi were only 31% of the inventory on offer in the third quarter, compared with 70-80% a year earlier, amid prices exceeding affordability and high interest rates, a new report shows.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}