In recent years, the demand for completed and operational apartments has remained consistently high. Alongside this, both selling and rental prices have been on an upward trend.
Mid-Range and High-End Apartments: Older Units Still in Demand
According to data from OneHousing's Market Research and Customer Insight Center, approximately 3,100 resale transactions were recorded in Hanoi's apartment market in August 2024 alone. While this number represents a slight 3% decrease compared to July, it marks a significant 25% increase compared to May and June. Among these, the top 10 projects with the highest transaction volumes accounted for around 1,500 units, making up 48% of Hanoi's total resale market in August.
Data from Batdongsan.com.vn indicates that apartment sales and rental prices have shown stable growth from 2021 to 2024. In Q1 2021, the average apartment price was 35 million VND/m², with rental rates at 10 million VND per unit. By Q3 2024, average prices had risen to 51 million VND/m², while rental prices increased to 12 million VND per unit.
Experts suggest that one key reason why mid-range and high-end apartments continue to be highly sought after despite rising prices is the quality of property management services. Most projects with high resale values are those that maintain outstanding management and operational standards. A report assessing resident satisfaction—known as the Customer Satisfaction Assessment (CSA)—indicates that mid-to-high-end apartment projects consistently achieve CSA scores above 90%. For instance, GoldSilk (Ha Dong) scored 99.84%, while GoldSeason (Nguyen Tuan, Hanoi) scored 99.38%.
Real estate experts also note that as more luxury apartment projects emerge, expectations for service quality are also increasing. While property management was once viewed simply as maintaining building infrastructure, investors and management boards are now recognizing its potential to enhance property value through professional service models tailored to each real estate project.
Property Management – A Key Factor in Real Estate Value
Property management involves a wide range of tasks requiring coordination across multiple departments (technical maintenance, reception, sanitation, security, landscaping, etc.) to ensure that residential buildings operate smoothly, residents remain satisfied, and assets are well-maintained. Effective technical management, in particular, helps preserve building quality and longevity by ensuring daily operations adhere to technical standards. It also enables timely maintenance recommendations for property owners and investors.
Mr. Nguyen Nhat Phong, an experienced property manager overseeing an urban development project in Tay Ho District, explains that evaluating a property management company's competence is not difficult. A well-managed property ensures a safe, clean, and convenient living environment. Regular landscaping and maintenance create a fresh atmosphere, while efficient security, sanitation, and amenities (such as swimming pools, gyms, and playgrounds) enhance residents' satisfaction.
To improve service quality, many property management firms are actively embracing digital transformation and implementing technology-driven solutions. For example, TNPM (a subsidiary of ROX Key Holdings, stock symbol: TN1) has integrated advanced technologies into property management. They invest in premium solutions like Archibus's Facility Management (FM) system, which centralizes real estate service and business operations. Additionally, TNPM develops custom solutions tailored to specific management needs. The use of technology not only reduces energy costs but also optimizes maintenance processes, improving the efficiency of technical equipment.
At the GoldSeason project (Nguyen Tuan, Hanoi), the management team goes beyond technology implementation by organizing activities that foster community engagement among residents. Several technological advancements have been introduced, such as a smart parking system and a communication portal between residents and the management board.
GoldSeason's property management team has even commissioned a technology company to develop a custom mobile application to enhance resident experience. Through this app, residents can access information on service fees, pay utility bills, receive management board updates, and check parking space availability in real time—reducing traffic congestion and time spent searching for parking. These digital initiatives aim to enhance convenience and safety for residents while improving overall service quality, said Mr. Nguyen Van Cuong, Director of the GoldSeason Residential Area.
The positive transformations in the property management sector help explain why well-managed, operational apartment projects continue to hold or even significantly increase their value./.