Hanoi property market has large room for development: Mayor
The rate of urbanization in Hanoi is likely to reach 70% by 2030 from current 53%.
There remains large room for Hanoi’s real estate market to develop in the coming years as the city is on track to expand urbanization, Chairman of Hanoi People’s Committee Nguyen Duc Chung has said. 
Chairman of Hanoi People’s Committee Nguyen Duc Chung
The rate of urbanization in Hanoi may reach more than 70% by 2030 with a vision to 2045 from current 53%, Infonet cited Chung at a real estate conference last weekend. Hanoi is among few cities in Vietnam having the most rapid rate of urbanization which is within plan and commensurate with of the change of the size of the urban population over the given period of time.
Hanoi has been chosen to be a destination for real estate investors thanks to the city’s infrastructure, industrial parks, and traffic systems, Chung said, noting that the growing population has sparked the rising demand for accommodation in the city.
Investors still reap profits from this sector thanks to high liquidity, he emphasized.
In addition, being one of among members in the ASEAN Smart Cities Network, Hanoi plans to build smart urban areas with smart buildings. That means it requires significant investment in real estate sector, Chung said.
For such reasons, the Hanoi government expects to receive ideas contributing to the development of the city, including those in real estate sector, the mayor said, noting that the city would change its policies on investment and supporting current investors in business expansion.
In the city’s housing development plans, as of June 2019, the average accommodation area in Hanoi hit 26 square meter (sq.m)/head.
The city targets to raise the average housing area per head to 26.3 sq.m, including 29.1 sq.m in urban zones and 22.1 sq.m in suburban areas by 2020.
Hanoi’s housing targets for 2016-2020 include 6.2 million sq.m of social housing (including 977,000 sq.m for students and 567,000 sq.m for workers); 1.2 million sq.m for resettlement; 20.4 million sq.m for commercial sales.
Moreover, residential areas are supported with infrastructure namely transport routes, parking lots, power grids, and drainage systems.
Chung also stressed the importance of other fields namely hi-tech, new technologies using clean energy that the city hopes for investment in from different sources of capital.
Notably, he called for the public-private partnership (PPP) in infrastructure, urban services, and social welfare with a focus on green growth which covers the investment in entertainment and park projects, affordable housing, houses for workers, reconstruction of old apartment blocs, and tap water in rural areas.
21:24, 2023/24/31
Vietnam, Australia eye stronger multifaced cooperation
Vietnam and Australia are actively coordinating to prepare for activities commemorating 50 years of diplomatic relations, including high-level visits, cultural events, people-to-people exchange, and tourism promotion.
17:34, 2023/34/31
Hanoi plans new rules on parking
As of March 25, the municipal administration had imposed fines totaling VND50.5 billion ($2.15 million) for infractions on the pavement.
15:44, 2023/44/31
Hanoi strives to become key pomelo-growing area
Over the years, Hanoi's agriculture sector has been highly committed to the safe and organic cultivation of pomelo to make full use of this famous variety.
21:13, 2023/13/30
Hanoi raised US$1.3 million for Sea and Islands Fund
Hanoi is calling on agencies, units, businesses, religious organizations, and individuals to contribute to the Fund for Vietnam’s Sea and Islands of the city in 2023.
15:46, 2023/46/30
New national-standard schools in Hanoi accredited
The number of national-standard schools in Hanoi has increased to 1,620, or 72.3% of all the schools in the city.
10:43, 2023/43/30
District-level planning key for completing Hanoi’s 2021-2030 master plan: Experts
District-level planning would be the basis for investment attraction and development of technological infrastructure in rural areas.
- Hanoi to push for decentralization scheme in local units: City Party chief
- Hanoi determined to preserve its "green lung"
- Hanoi to build two new cities, creating springboard for Hoa Lac, Noi Bai areas
- UNESCO promises tight partnership with Hanoi in heritage and relic conservation
- Hanoi targets 100% of population with accounts on public services portal
- Hanoi holds Olympic Day Run 2023