Westlake: Apartment Prices and Lifestyle in Hanoi’s Most Livable Area

Following a brief stagnation in early 2025, Hanoi’s apartment market is rebounding sharply in Q2, with prices in the West Lake area soaring to as high as 330 million VND per square meter. According to a report by CBRE Vietnam, the average primary apartment price in Hanoi has reached VND 79 million per square meter, marking a 6% increase from the previous quarter and a 33% jump year-on-year — the highest level in the past three years.

Numerous new projects, from central districts to suburban areas, launched in the first half of the year, are setting new pricing benchmarks, ranging from VND 80 to 170 million per square meter.

Surveys show:

• The Matrix One Phase 2 (developed by MIK Group) is priced between VND 116–166 million/m²;

• Sun Feliza Suites (by Sun Group) is listed around VND 160 million/m²;

• LongBien Central (by Taseco Land) is introducing exploratory prices near VND 120 million/m².

Meanwhile, Tay Ho (West Lake) district is emerging as a major driver of the market, with average primary apartment prices reaching VND 185 million per square meter as early as Q1 this year, significantly higher than the citywide average.

According to Batdongsan.com.vn, apartment prices in this area have increased by an average of 27% per year over the past three years.

At Ciputra International City – one of Hanoi’s most prestigious real estate locations – Noble Crystal Tay Ho WorldHotels Residence, a branded residence project developed by Sunshine Group, is recording primary prices ranging from VND 188 to 330 million per square meter.
This is the first branded residence in the world operated by WorldHotels, the most premium brand under the global hospitality group BWH Hotels.

Several other notable projects in the area have also recorded high price levels:

• Heritage West Lake: VND 130–180 million/m²

• Celestine Westlake: VND 140–250 million/m²

• Skyline Westlake: VND 100–160 million/m²

• Han Jardin: VND 130–180 million/m²

• Starlake: VND 150–200 million/m²

Keeping pace with modern urban trends, the West Lake area is being planned under the Transit-Oriented Development (TOD) model — a city planning approach centered around public transportation. The presence of Metro Line 2 (Nhon – Tran Hung Dao), with C2 Station (Ngoai Giao Doan) and C1 Station (Nam Thang Long) located just 500 meters from the entrance of Ciputra Urban Area, will ensure rapid access to a modern, multimodal transportation network, making it easy for residents to connect with every part of the city.

As these metro lines become operational in the near future, TOD zones will naturally form around West Lake, especially within a 1-kilometer radius of Ciputra and Ngoai Giao Doan stations. Residents here will enjoy direct metro access to Noi Bai International Airport in just 20 minutes, and reach West Lake, Hoan Kiem Lake, and the downtown core in about 10 minutes.

More than just a modern residential hub, Tay Ho Tay is also envisioned as Hanoi’s future administrative and diplomatic center, with plans for a new 35-hectare government district housing 13 central ministries. The area already boasts the Korean Embassy, major global corporations like Samsung R&D (with $2 billion USD in investment and a team of 2,400 engineers and high-tech professionals), the Lotte Mall West Lake (covering 380,000 sqm), as well as projects from top-tier investors such as Takashimaya and LG Electronics. With its strategic location, diplomatic significance, and exceptional infrastructure, Tay Ho Tay is not only a premier residential destination but also a vibrant hub for business, commerce, and finance on an international scale.

According to experts and real estate developers, soaring input costs — including land clearance compensation, land use fees, infrastructure and construction expenses, and capital costs — are driving apartment prices up, with little sign of a future decline.

In particular, Tay Ho (West Lake) continues to lead the city in land price growth. Under Hanoi’s newly issued land price framework at the end of 2024, the area recorded the highest land price increase in the city, reaching over VND 113 million per square meter, a 225% surge after adjustments.

Beyond land prices, construction costs are also spiking due to a shortage of building materials, pushing prices up by 10–15% compared to previous years. This directly inflates the overall cost of housing products.

A representative from a major real estate agency in Hanoi revealed that the number of resale listings for apartments in this area dropped by 50–60% in 2024 compared to the previous year, and is expected to decline even further in 2025, as many owners are reluctant to sell despite rising prices.

“In the context of soaring apartment prices and a severe shortage of new supply, a luxury apartment in Tay Ho Tay is no longer just a place to live — it has become a special asset class that not only preserves value but also offers sustainable long-term growth potential,” the representative noted.

This sharp imbalance between supply and demand is driving prices significantly higher, yet buyers still find themselves compelled to accept the premiums if they want to own property in one of the fastest-developing and most promising areas in the capital.