9. A study on factors influencing the condominium market in Yen Hoa ward, Hanoi city

Abstract

In Hanoi’s real estate market, the dominant types of transactions for buying, selling, and leasing are apartments and landed properties. Yen Hoa ward, located in Hanoi where is a rapidly urbanizing area characterized by high population density. In recent years, the apartment market in Yen Hoa has undergone considerable fluctuations, particularly during the 2020 - 2025 period, under the influence of multiple factors including the Covid-19 pandemic, administrative restructuring, land management policies, housing supply and demand, macroeconomic conditions, and evolving consumer preferences and housing trends. This study adopts a mixed-methods approach, combining survey investigations, purposive sampling, and both quantitative and qualitative analyses to identify the principal determinants affecting housing demand and apartment pricing. The results indicate five major categories of influential factors: Legal and regulatory frameworks; Location, infrastructure, amenities, and environmental conditions; Reputation and brand of the developer; and selling price, payment policies, and apartment size. Furthermore, the findings highlight that buyers are increasingly concerned with management service quality, green living environments, and sustainability-related considerations. Analyzing the determinants of the apartment market in this locality not only clarifies its unique characteristics and developmental trends but also provides an empirical basis for policymakers, enterprises, and residents in making well-informed decisions. Building upon these findings, the study proposes several policy recommendations aimed at stabilizing and fostering the sustainable development of the apartment housing market in Yen Hoa ward.