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Property prices in Hai Phong are experiencing robust growth as we reach mid-2025, with residential apartment prices averaging VND 45 million per square meter and villas reaching VND 49 million per square meter in central areas. The Hai Phong real estate market has witnessed a remarkable transformation over the past two years, recovering strongly from the 2023 downturn when prices fell 20-25% in some areas, and now showing steady upward momentum driven by significant foreign direct investment, infrastructure development, and economic expansion.
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Hai Phong's property market is experiencing significant growth in 2025, with central district apartment prices reaching VND 45 million/m² and villas at VND 49 million/m². The market has recovered strongly from 2023 lows and is projected to continue rising through 2026.
Key growth drivers include record FDI inflows of nearly $5 billion in 2024 (42% increase), major infrastructure projects like Lach Huyen Port expansion, and the city's economic boom with 11% GRDP growth in 2024.
| Property Type | Current Average Price (June 2025) | Market Status & Outlook |
|---|---|---|
| Central Apartments | VND 45 million/m² | Rising steadily, 5% growth in Q2 2024 |
| Suburban Apartments | VND 12-15 million/m² | Strong demand, affordability driver |
| Villas/Townhouses | VND 49 million/m² | High appreciation, scarcity premium |
| New Project Apartments | VND 30-45 million/m² | Premium pricing, modern amenities |
| Land Plots (An Duong) | VND 12-40 million/m² | Rapid development potential |
| Green Properties | Premium 10-15% above standard | 15% supply increase in 2024 |
| Rental Yields | 3.2-5.0% annually | Higher than Hanoi (3.7%) |
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
What are the current average property prices in Hai Phong as of June 2025?
Hai Phong's residential property market shows distinct pricing tiers based on location and property type as we reach mid-2025.
Central district apartments are averaging VND 45 million per square meter, representing a significant premium for prime locations. These properties benefit from proximity to business centers, established infrastructure, and high rental demand from expatriate workers and young professionals.
Villas and townhouses command VND 49 million per square meter in central areas, making them more affordable than Hanoi where similar properties can reach VND 100 million per square meter. This price differential presents a compelling value proposition for investors seeking landed property investments.
Suburban apartments outside the city center offer more accessible entry points at VND 12-15 million per square meter, attracting first-time buyers and investors targeting the growing middle class. New apartment projects typically range from VND 30-45 million per square meter, depending on location and amenities.
These current price levels reflect a market that has fully recovered from the 2023 downturn and is now experiencing steady growth momentum.
How much have property prices increased in Hai Phong during the past 12 months?
The Hai Phong property market has demonstrated remarkable resilience and growth throughout 2024 and into 2025.
Property transaction volumes surged by over 50% in the first nine months of 2024 compared to the same period in 2023, indicating strong market activity and confidence. Apartment prices specifically rose approximately 5% in Q2 2024 compared to Q1, while land plots and business houses experienced 5-7% quarterly growth.
The recovery has been particularly pronounced when compared to the 2023 market correction, when some areas experienced price drops of 20-25%, with certain locations seeing declines up to 40-50%. The current upward trajectory represents a complete reversal of those conditions.
Property listings increased by 4% month-over-month in 2024, while overall market interest grew by 2%, demonstrating sustained demand from both local and international buyers. Energy-efficient residential properties saw a 15% increase in supply during 2024, reflecting evolving buyer preferences toward sustainable living options.
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Which districts in Hai Phong are experiencing the fastest property price growth?
Several key districts in Hai Phong are leading the current property price appreciation cycle.
Central districts including Hong Bang and Le Chan are experiencing the sharpest price increases due to limited land supply and high demand from both domestic and international buyers. These areas benefit from established infrastructure and proximity to the city's business centers.
Thuy Nguyen district stands out as a particularly dynamic growth area, with plans to achieve city status by 2025. The district has benefited from major infrastructure developments including the Nguyen Trai and Vu Yen bridges, which directly connect it to central Hai Phong and the VSIP Hai Phong Urban, Industrial, and Service Area.
Kien An district has emerged as another bright spot, benefiting from improved connectivity and ongoing urbanization initiatives. The area offers a balance of affordability and growth potential that attracts both end-users and investors.
An Duong district presents significant growth potential with land prices ranging from VND 12-40 million per square meter, considerably lower than the VND 40-100 million per square meter in central areas. The district is positioned to benefit from new infrastructure projects including expressways and ring roads.
Le Chan district is particularly noteworthy as the largest supplier of landed properties, accounting for 33% of new stock in the market, while also hosting major retail developments that drive local appreciation.
What property types are seeing the biggest price increases in Hai Phong?
Different property segments in Hai Phong are experiencing varying levels of price appreciation based on demand dynamics and supply constraints.
Villas and townhouses are leading price growth with strong appreciation driven by scarcity and demand from investors and expatriates. At VND 49 million per square meter, these properties represent significant value compared to similar assets in Hanoi and offer both lifestyle benefits and investment potential.
High-end apartments in new projects with energy-efficient features are commanding premium prices, particularly those offering modern amenities and sustainable design elements. The 15% increase in green property supply during 2024 reflects growing buyer preference for environmentally conscious living options.
Landed properties generally are outperforming apartments in terms of value appreciation, especially in central locations where development land is becoming increasingly scarce. This trend is driven by both cultural preferences for landed ownership and the finite nature of developable central land.
Waterfront and coastal properties are gaining particular traction as Hai Phong's tourism sector expands, with the city attracting 3.4 million visitors in the first half of 2023 alone. These properties benefit from both residential demand and potential commercial applications.
| Property Type | Price Growth Driver | Investment Characteristics |
|---|---|---|
| Luxury Villas | Scarcity + Expat Demand | Strong appreciation potential, lifestyle premium, limited supply |
| Green Apartments | Sustainability Trend | 15% supply increase in 2024, premium pricing, future-proof |
| Waterfront Properties | Tourism Boom | Dual residential-commercial potential, scenic value premium |
| New Project Condos | Modern Amenities | Higher rental yields, professional management, lifestyle appeal |
| Industrial Zone Housing | FDI Worker Demand | Stable rental income, proximity to employment centers |
| Central Land Plots | Development Potential | Long-term appreciation, development flexibility, scarcity value |
| Suburban Family Homes | Middle Class Growth | Affordability advantage, family-friendly, commuter accessibility |
How do current property prices compare to five years ago?
The five-year price trajectory in Hai Phong reveals dramatic appreciation despite the 2023 market correction.
In 2019, average apartment prices in central Hai Phong typically ranged from VND 20-25 million per square meter. Current prices of VND 45 million per square meter for apartments and VND 49 million per square meter for villas represent an increase of 80-120% over the five-year period.
This translates to an average annual growth rate of over 25% for real estate project investments during the past five years, significantly outpacing inflation and most other asset classes. The growth reflects Hai Phong's transformation from a traditional port city to a modern economic hub.
The appreciation has been particularly pronounced in emerging districts that have benefited from infrastructure development and urban planning initiatives. Areas like Thuy Nguyen and An Duong have seen even more dramatic price increases as they transition from peripheral locations to integrated urban districts.
Despite the strong long-term growth, the market experienced a healthy correction in 2023 that eliminated speculative excess and established a more sustainable foundation for future growth. The current price levels represent genuine value based on economic fundamentals rather than speculative premiums.
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What are the property price forecasts for Hai Phong in 2026?
Property price projections for Hai Phong in 2026 indicate continued moderate but steady growth supported by strong economic fundamentals.
Analysts anticipate annual price increases of 7-10% if current economic trends continue, driven by sustained FDI inflows, infrastructure development, and urban expansion. The International Monetary Fund expects Vietnam's economy to grow by 6% in 2026, providing a solid foundation for real estate appreciation.
The middle class expansion presents a particularly compelling growth driver, with Vietnam's middle class projected to grow from 13% of the population in 2023 to 26% by 2026. In Hai Phong specifically, average monthly income per person has increased to over three times the 2010 level, substantially expanding the pool of potential property buyers.
Infrastructure investments will continue supporting price appreciation, with over VND 22 trillion invested in 2023 alone and 100 new bridges planned to enhance connectivity. The Lach Huyen Port expansion and Hanoi-Hai Phong Expressway improvements will further boost the city's attractiveness for both residential and commercial development.
Foreign investment influence is expected to strengthen, with potential legal changes to extend foreign leaseholds beyond 50 years and raise ownership caps in certain projects. These regulatory improvements could unlock additional international demand and support price appreciation.
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Which areas offer the best value for money in Hai Phong currently?
Several districts in Hai Phong present compelling value propositions for different investor profiles and budgets.
An Duong district stands out for investors seeking long-term appreciation potential, with land prices of VND 12-40 million per square meter representing significant discounts to central area pricing of VND 40-100 million per square meter. The district benefits from planned infrastructure improvements and development potential.
Thuy Nguyen offers excellent value given its upcoming elevation to city status and major infrastructure developments including new bridges connecting to central Hai Phong and VSIP industrial areas. Properties here benefit from growth potential while maintaining relative affordability.
Suburban areas outside the city center provide strong value for first-time buyers and rental investors, with apartment prices of VND 12-15 million per square meter offering accessibility and steady rental demand from the growing workforce.
Le Chan district presents balanced opportunities as the largest supplier of landed properties, accounting for 33% of new stock while benefiting from established infrastructure and commercial development including major retail projects.
| District | Price Range (VND/m²) | Best For | Value Proposition |
|---|---|---|---|
| An Duong | 12-40 million | Long-term investors | 70% discount to central, infrastructure upside |
| Thuy Nguyen | 25-35 million | Growth seekers | City status 2025, bridge connectivity |
| Suburban Areas | 12-15 million | First-time buyers | Affordability, rental demand stability |
| Le Chan | 30-42 million | Balanced investors | 33% of new supply, retail development |
| Kien An | 28-38 million | Commuter families | Connectivity improvements, family amenities |
| Coastal Areas | 35-50 million | Lifestyle buyers | Tourism growth, scenic premium |
| Industrial Zones | 20-30 million | Rental investors | Steady expat demand, proximity to jobs |
How does foreign investment impact property prices in Hai Phong?
Foreign direct investment plays a crucial role in driving Hai Phong's property market dynamics and price appreciation.
In 2024, Hai Phong attracted nearly US$5 billion in new FDI, representing a 42% increase from 2023 and establishing the city as Vietnam's second-largest FDI recipient. This massive investment influx creates direct demand for residential properties from expatriate workers and indirect demand through economic multiplier effects.
Major multinational corporations including LG, Bridgestone, and Pegatron have established significant operations in Hai Phong, bringing skilled workers and executives who require high-quality housing. This demographic typically seeks modern apartments and villas in central locations, driving premium segment price appreciation.
The industrial expansion has created a ripple effect throughout the residential market, with rental demand increasing particularly in industrial zones where property prices range from VND 20-30 million per square meter. Rental yields in Hai Phong remain attractive at 3.2-5%, higher than Hanoi's 3.7%, making the city attractive for buy-to-let investors.
Foreign property ownership by individuals has also increased, with surveys indicating approximately 4 million foreigners and overseas Vietnamese are interested in buying houses in Vietnam. Recent legal changes allowing foreign entities to own more types of commercial residential properties are expected to further boost international demand.
The FDI impact extends beyond direct property demand to broader economic development that supports long-term price appreciation through job creation, income growth, and urban development initiatives.
We made this infographic to show you how property prices in Vietnam compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It's an easy way to spot where you might get the best value for your money. We hope you like it.
What infrastructure developments are driving price increases?
Massive infrastructure investments are fundamentally transforming Hai Phong's connectivity and driving property value appreciation across multiple districts.
The Lach Huyen Port expansion has established Hai Phong as a major logistics and export hub in Southeast Asia, boosting demand for both industrial and residential properties. The port's enhanced capacity attracts international businesses and their workforce, creating sustained demand for quality housing.
The Hanoi-Hai Phong Expressway has reduced travel time between the cities to just one hour, dramatically increasing Hai Phong's attractiveness for commuters and investors. This connectivity improvement allows professionals to live in Hai Phong while working in Hanoi, expanding the potential buyer pool.
Local infrastructure development is equally impressive, with over VND 22 trillion invested in 2023 alone. The planned construction of 100 new bridges will further enhance internal connectivity and reduce travel times between districts, directly supporting property values in previously peripheral areas.
Thuy Nguyen district particularly benefits from the Nguyen Trai and Vu Yen bridges, which provide direct connections to central Hai Phong and the VSIP industrial area. These infrastructure improvements support the district's elevation to city status planned for 2025.
The development of new industrial parks, including the South Trang Cat Industrial Park, creates employment centers that drive residential demand in surrounding areas. The government's plan to establish Hai Phong as a modern international logistics service center by 2025 ensures continued infrastructure investment and economic growth.
How do Hai Phong prices compare to other major Vietnamese cities?
Hai Phong maintains a favorable price position relative to Vietnam's other major urban centers while offering superior rental yields and growth potential.
Central apartment prices in Hai Phong average VND 45 million per square meter, significantly lower than Hanoi's VND 60-100 million range and Ho Chi Minh City's VND 65-120 million premium pricing. Villas and townhouses at VND 49 million per square meter compare favorably to Hanoi's up to VND 100 million and HCMC's VND 90-150 million range.
Da Nang presents the closest comparison with apartment prices of VND 30-45 million per square meter and villas at VND 50-70 million, though Hai Phong offers superior economic growth prospects and FDI inflows. Rental yields in Hai Phong range from 3.2-5%, outperforming Hanoi's 3.7% and matching Da Nang's 4-5% range.
The price differential reflects Hai Phong's position as an emerging market with substantial upside potential rather than the mature, premium-priced markets of Hanoi and HCMC. This positioning attracts investors seeking both value and growth prospects.
Hai Phong's rapid economic expansion, with 11% GRDP growth in 2024 and plans to contribute 6.4% to national GDP by 2025 (up from 3.9% in 2022), suggests the price gap with other major cities may narrow as the market matures.
It's something we develop in our Vietnam property pack.
What are the main risks affecting property prices in Hai Phong?
Despite the positive outlook, several risk factors could impact Hai Phong's property price trajectory and require careful consideration by investors.
Global economic uncertainty, including potential U.S. trade policy changes such as the proposed 46% reciprocal tax on certain Vietnamese exports, could affect FDI flows and economic growth. However, this challenge also presents opportunities for Vietnam to diversify trade partnerships and strengthen domestic demand.
Supply-side risks include potential oversupply in certain segments if development accelerates too rapidly relative to demand absorption. The government's ambitious social housing program, targeting 15,400 units by 2025 and 18,100 by 2030, could moderate price growth in the affordable housing segment.
Interest rate changes and credit availability fluctuations could impact both developer financing and buyer affordability, potentially affecting transaction volumes and price growth rates. Current mortgage rates around 6% remain moderate but are subject to monetary policy changes.
Regulatory risks include potential changes to foreign ownership laws, property taxes, or development regulations that could affect market dynamics. However, recent legal changes have generally been supportive of foreign investment and market development.
Environmental and climate-related risks require consideration given Hai Phong's coastal location, though these concerns also drive demand for sustainable, resilient development that commands premium pricing.
What economic factors support continued price growth?
Multiple robust economic fundamentals support continued property price appreciation in Hai Phong through 2026 and beyond.
Hai Phong's exceptional economic performance includes 11% GRDP growth in 2024, marking a decade of double-digit growth that significantly outpaces national averages. The city's contribution to national GDP is projected to increase from 3.9% in 2022 to 6.4% by 2025, reflecting its growing economic importance.
FDI momentum remains strong with nearly $5 billion attracted in 2024, representing a 42% increase and establishing Hai Phong as Vietnam's second-largest FDI destination. This investment creates employment, increases incomes, and generates direct demand for residential properties from international workers and executives.
Demographics support long-term demand with high immigration rates of 5.9% driving population growth and housing demand. The expanding middle class, growing from 13% to 26% of Vietnam's population by 2026, represents a substantial increase in potential property buyers with improved purchasing power.
Infrastructure investments exceeding VND 22 trillion in 2023 alone enhance the city's attractiveness and connectivity, supporting both residential desirability and commercial viability. The transformation into a modern international logistics service center creates a diversified economic base less vulnerable to sector-specific downturns.
Inflation remains manageable at 3.1% in 2024, supporting real purchasing power growth while construction cost increases contribute to new project pricing but don't undermine overall affordability for the growing middle class.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Yes, property prices in Hai Phong are going up significantly. The market has demonstrated robust growth throughout 2024 and into 2025, with central apartment prices reaching VND 45 million per square meter and villas at VND 49 million per square meter, representing 80-120% increases over five years.
The growth trajectory is supported by exceptional economic fundamentals including 11% GRDP growth, record FDI inflows of $5 billion (42% increase), massive infrastructure investments, and expanding middle-class demographics. With analysts projecting 7-10% annual price increases through 2026, Hai Phong remains an attractive investment destination offering superior value compared to Hanoi and Ho Chi Minh City while delivering higher rental yields and substantial appreciation potential.
Sources
- BambooRoutes - Hai Phong Real Estate Trends
- Savills Vietnam - Hai Phong Market Spotlight
- Savills - Commercial and Residential Real Estate in Hai Phong
- Numbeo - Property Investment in Hai Phong
- Hai Phong Government - Real Estate Market Signals
- The Investor - Vietnam Real Estate Growth 2025
- Vietnam.vn - Hai Phong Real Estate Prospects
- BambooRoutes - Hai Phong Market Statistics
- Vietnam Briefing - Real Estate Market 2025
- BambooRoutes - Hai Phong Property Investment