Ask where foreigners live in Hanoi and you'll usually get two answers. Korean families point to My Dinh, the cluster of towers around Keangnam Landmark 72. Western families and diplomats point to Tay Ho, the West Lake side of the city. Most of what a foreign apartment buyer has to decide in Hanoi follows from that split, plus one legal rule that quietly decides which flats you're actually allowed to buy.
This guide walks through the areas, the ownership rules under the Housing Law 2023, what the 2026 price figures do and don't tell you, and a short checklist before any deposit.
Where do foreigners actually live in Hanoi?
My Dinh and the Keangnam corridor
The towers along Pham Hung road, in what used to be Nam Tu Liem and Cau Giay districts, are the closest thing Hanoi has to a Korean neighbourhood. Keangnam Hanoi Landmark Tower was built by the Korean contractor Keangnam Enterprises: a 72-storey tower plus two residential towers holding 922 apartments, which residents moved into in 2011. A 2019 report in Vietnam Investment Review described the area around the tower as the centre of Hanoi's Korean community, with Korean companies and offices clustered nearby.
Directly opposite sits Vinhomes Skylake, a three-tower Vingroup complex that began handing over in the second quarter of 2019. Korean-language rental agencies market it to Korean families, pointing to the Korean restaurants and marts around it. That's agency marketing, not a survey. It does match what you see on the street.
Why this matters to a buyer: tenant depth. A building where your next tenant, and your eventual buyer, already lives is easier to let and easier to exit.
Tay Ho and the West Lake side
Tay Ho is the city's older expat district, built around West Lake. On its northern edge, Ciputra Hanoi is a gated township with the campus of UNIS Hanoi, the United Nations International School, inside it. That school is a big part of why diplomatic and multinational families rent there.
West of the lake, Starlake Tay Ho Tay is a Korean-invested new town. Daewoo E&C is the investor and THT Development the developer, on roughly 186 hectares spanning parts of the former Tay Ho, Cau Giay and Bac Tu Liem districts. It's worth knowing about if you want Korean-built stock outside the Keangnam corridor.
New launches further out
The new-launch projects we track in Hanoi that are open to foreign buyers all sit further from the centre, with handovers years away: Imperia Sky Park in An Khanh (MIK Group, handover planned for 2027 to 2028), The Flame Vine in Hinode Royal Park, Hoai Duc (estimated 2027), and Rivea Residences in Vinh Hung ward (Meyland, Q1 2029). None of them has a tenant base yet. You're buying a plan and a developer, not a neighbourhood.
What can a foreigner legally buy in Hanoi?
The rules are national, not city-specific. Under the Housing Law 2023 (Law No. 27/2023/QH15), with the details in Decree 95/2024/ND-CP:
- What: apartments, and a capped number of landed houses, inside commercial housing projects. Areas the state designates for national defence or security are off-limits.
- How many: foreigners together may hold no more than 30% of the apartments in one building, or 250 landed houses in an area the size of a ward (Article 19).
- How long: up to 50 years from the date the ownership certificate, the Pink Book, is issued, renewable once (Article 20).
- From whom: this is the rule most buyers miss. Article 17 lets a foreign individual buy commercial housing from the project developer, or buy from a foreign organisation or individual that already owns it. Buying from a Vietnamese owner isn't on that list.
That last point changes how you shop in established buildings like Keangnam or Skylake. The flats you can buy there are the ones owned by other foreigners, plus any stock the developer still holds. A lawyer answering exactly this question for VnExpress International put it plainly: signing directly with a Vietnamese homeowner who isn't the developer wouldn't comply with the law. If an agent tells you there's a work-around, get a lawyer's written opinion before you pay anything.
The quota applies to every purchase too. Ask for written confirmation that the building's 30% foreign cap still has room for your unit. Our quota and leasehold guide covers how to check it.
The restriction only runs one way. When you sell, a Vietnamese buyer can buy from you, and the flat then passes to them as permanent ownership. The exit-strategy guide explains why that matters for your resale price.
What does a Hanoi apartment cost in 2026, and why does every source disagree?
Hanoi price figures look very different depending on who's counting. Here are four published for the second quarter of 2026:
| Source | What it measures | Q2 2026 figure |
|---|---|---|
| CBRE Vietnam | New launches, citywide average | About VND 95 million per m², up 12% on the quarter and 21% on the year |
| One Mount Group | New launches, central Hanoi | VND 121 million per m², flat on the quarter, up 46% on the year |
| Ministry of Construction | Resale apartments, average | About VND 123 million per m² |
| CBRE Vietnam | Resale price trend | Down about 2% on the quarter, the first fall in more than three years, still about 13% above a year earlier |
None of these is wrong. They measure different baskets of flats. And none of them is the price of the unit you're looking at.
Here's what we'd take from them. New-launch prices kept climbing into mid-2026 while resale prices paused. CBRE also said the share of launched units that actually sold dropped below 70%, against 85 to 90% through 2024 and 2025. A slower market after a long run-up usually leaves more room to negotiate on completed flats. It doesn't promise that prices will fall.
For a single flat, compare like with like: the same building's recent deals, on the same area basis. A Vietnamese listing can quote the area measured inside the walls or to the wall centreline, so check which one a price per m² uses before you compare it with anything.
Resale in an established building, or a new launch?
| Established building (Keangnam, Skylake) | New launch (Imperia Sky Park, The Flame Vine) | |
|---|---|---|
| Who can sell to you | Only foreign owners, or the developer's unsold stock | The developer, under a sale and purchase agreement |
| What you can inspect | The actual flat, the management, the tenants | Renders, a show flat, the developer's track record |
| Rental income | From the day you complete | Only after handover, 2027 to 2029 for the projects above |
| Pink Book | Check the seller's certificate before you sign | Issued after handover, and the wait is a risk to price in |
| Main risk | A small pool of eligible sellers, and the building's age | Construction, and the developer's delivery |
If you need rental income soon, or you want to live inside the Korean community, a resale flat in an established My Dinh tower is the logical place to start. You'll just have fewer units to choose from. If you can wait and want a newer building, a new launch gives you a wider choice. Read our off-plan deposit guide before you sign.
Your documents may show an address that no longer exists
Since July 2025, Hanoi no longer has districts. The city now governs its wards and communes directly, and many ward boundaries and names changed. Keangnam's operator now lists the building under Yen Hoa ward, while documents from before the change place it in Me Tri ward, Nam Tu Liem district.
That doesn't invalidate old paperwork. Resolution 190/2025/QH15 keeps documents issued before the reorganisation valid until they expire or are formally changed, and owners can't be required to reissue them just because of it. For a buyer the practical point is identification: match the flat to its certificate by certificate number, land plot, building and unit number rather than by street address, and ask your notary how the transfer will record the current address.
Your home country has rules too
Buying in Vietnam is only half the paperwork. Korean residents have their own reporting rules for overseas property and the money sent out, covered in the Korea side of buying Vietnam property. Taiwanese buyers can read the Taiwan side, and buyers from mainland China our guide to capital controls and moving money out.
Before you pay a deposit in Hanoi
- Confirm the seller is the developer or a foreign owner. If it's a Vietnamese individual, stop and take legal advice.
- Get written confirmation that the building's 30% foreign quota has room for your unit.
- For a resale, see the seller's Pink Book. For a new launch, see the project's legal approvals and the bank guarantee covering your deposit.
- Check that the project isn't in an area designated for defence or security.
- Compare the price per m² with the same building's recent deals, and confirm which area measurement it uses.
- Identify the flat by certificate and unit number, not by street address, given the 2025 ward changes.
- Plan the money route. Pay through a licensed bank in Vietnam and keep every record, because you'll need that trail to send sale proceeds home later (how to move purchase funds in legally).
Quick answers
Can a foreigner buy an apartment in Keangnam Landmark 72?
Yes, but only from a foreign owner or from the developer (Article 17, Housing Law 2023), and only if the building's foreign quota has room.
How much does an apartment in Hanoi cost in 2026?
CBRE put the average new launch at about VND 95 million per m² in Q2 2026. Central new launches (One Mount Group) and the resale average (Ministry of Construction) came in higher, at around VND 121 to 123 million per m².
Where do Koreans live in Hanoi?
Mainly in My Dinh, around Keangnam Landmark 72 and Vinhomes Skylake. Starlake, the Korean-invested new town west of West Lake, is the other Korean-linked area.
If you have a Hanoi building or flat in mind, send us its name and unit number. We'll check who can legally sell it to you, whether the foreign quota is open, and what the documents should show, before you commit any money.
Sources
- Housing Law 2023 (Law No. 27/2023/QH15), Articles 17, 19 and 20: https://vanban.chinhphu.vn/?pageid=27160&docid=209627
- Decree 95/2024/ND-CP detailing the Housing Law: https://vanban.chinhphu.vn/?docid=210761&pageid=27160
- Resolution 190/2025/QH15 on issues arising from the reorganisation of the state apparatus: https://vanban.chinhphu.vn/?pageid=27160&docid=212818
- VnExpress International, "Can a foreigner working in Vietnam buy an apartment they have rented for years?": https://e.vnexpress.net/news/news/can-a-foreigner-working-in-vietnam-buy-an-apartment-they-have-rented-for-years-5056403.html
- CBRE Vietnam Q2 2026 Hanoi figures, as reported by CafeLand (8 July 2026): https://cafeland.vn/tin-tuc/lan-dau-sau-hon-ba-nam-gia-chung-cu-thu-cap-ha-noi-quay-dau-giam-153086.html
- CBRE Vietnam Q2 2026, as reported by Suc Khoe & Doi Song (10 July 2026): https://phapluat.suckhoedoisong.vn/thi-truong-can-ho-ha-noi-gia-so-cap-cham-moc-95-trieu-dong-m2-280255.html
- One Mount Group Q2 2026, as reported by CafeF (7 July 2026): https://cafef.vn/gia-ban-trung-binh-chung-cu-moi-o-ha-noi-121-trieu-dong-m2-phan-khuc-duoi-120-trieu-dong-m2-dan-dat-thanh-khoan-o-tphcm-1882607070953564.chn
- Ministry of Construction Q2 2026 housing market report, as reported by Dan Tri (21 August 2026): https://dantri.com.vn/bat-dong-san/bo-xay-dung-gia-chung-cu-da-giam-o-ha-noi-trung-binh-123-trieu-dong-m2-20260821111147868.htm
- Keangnam residential towers enter use (Bao Chinh Phu, 2011): https://baochinhphu.vn/keangnam-chinh-thuc-dua-2-toa-thap-cao-48-tang-vao-su-dung-10267511.htm
- Landmark72, location: https://landmark72.com/location
- Vietnam Investment Review, "South Korean enclaves make mark in Hanoi" (2019): https://vir.com.vn/south-korean-enclaves-make-mark-in-hanoi-67600.html
- Vinhomes Market, Vinhomes Skylake: https://market.vinhomes.vn/blog/vinhomes-skylake
- UNIS Hanoi, how to find us: https://www.unishanoi.org/about/how-to-find-us
- Starlake Hanoi, introduction: https://www.starlake-hanoi.com/en/introduction/
