The Ha Noi Department of Construction has published a list of seven projects that meet the criteria for trading in real estate under the Real Estate Business Law.

Of the seven projects, one is a social housing project and the remaining six are commercial. They are located in various districts across Ha Noi, including Thuong Tin, Dong Da, Nam Tu Liem, Thanh Xuan and Long Bien.

In Thanh Xuan District, two projects are underway: the mixed-use Pandora complex in Trieu Khuc and the mixed-use housing project at 107 Nguyen Tuan Viha complex on Nguyen Tuan Street.

Nam Tu Liem District also has two projects: the construction of social housing on To Huu Street and the construction of apartments as part of the new urban area project Tay Mo-Dai Mo-Vinhomes Park.

Additionally, there is the Miracle Tower, a planned office and housing development in Dong Da District, a high-rise housing complex on plot CT7 in Long Bien District and a low-rise apartment project as part of the L.27 land use rights auction project in the Thuong Tin area.

Ha Noi targets to complete 21,100 housing units this year with a total accommodation area of 4.110,000sq.m and 400 social housing units with an area of 28,000sq.m.

The capital city will concentrate on diversifying housing types to meet the demands of the population with various income levels while encouraging the growth of satellite towns and districts between 2023 and 2030.

However, a recent report of Savills Vietnam has indicated that the apartment market in Ha Noi continues to be challenging in the first quarter, with a decrease in primary supply by 4 per cent quarter-on-quarter and year-on-year, reaching 19,483 units. The average primary selling price was VND52 million per square metre, up 22 per cent on-year.

Despite this, it is expected that the demand for housing will increase sharply in the future, with Ha Noi's urbanisation rate projected to reach 62 per cent by 2025 and 75 per cent by 2030.

In addition, the municipal construction department also published a list of projects that permit foreign individuals and organisations to own houses in the city, including high-rise housing C1-CT in An Lac Green Symphony in Hoai Duc District, Thu Do II Co Ltd's commercial and service buildings in Nam Tu Liem District and Lac Hong Investment Corp's high-class apartments in Bac Tu Liem District.

In total, there are eight such projects in Ha Noi to date, with sales capped at 30 per cent of the total number of residential apartments for each unit and block. — VNS