According to Savills Vietnam's Real Estate Market Overview Report for the second quarter of 2025, Ho Chi Minh City continues to face a shortage of housing supply, while the Hanoi market is stable thanks to improved infrastructure and sustainable demand.
Ho Chi Minh City (HCMC) has faced a shortage of housing supply for the past 5 years. The city aims to develop about 235.000 new houses in the period of 2021 - 2025, but has only implemented 24% of the target and still lacks 179,000 units. The gap between supply and demand is widened due to slow approval processes and tightening legal regulations.
In the second quarter of 2025, Ho Chi Minh City will have 1,600 new apartments, an increase of 38% per year. The primary supply is limited to 5,400 apartments and the sales volume is only 2,400 apartments, the absorption volume is 45%. Accumulated from the beginning of the year, the primary supply in the first 6 months of 2025 reached 6,800 apartments and the sales volume reached 3,800 apartments. The future supply for the 2025-2027 period is expected to reach 39,000 apartments.
However, in the long term, with positive changes and improvements from the application of laws and new policies, to the streamlined legal approval procedures, it will create development expectations for the residential real estate market in Ho Chi Minh City.
Meanwhile, the apartment market in Hanoi continues to show stability in 2025, supported by infrastructure upgrades, planning reforms and strong demand.
Ms. Do Thu Hang - Senior Director of Savills Hanoi Consulting and Research Department - said that in the second quarter of 2025, there were 7,000 new apartments for sale and 5,200 transactions, an increase year-on-year.
In the first 6 months of 2025, there were 14,900 new apartments, the number of transactions reached 13,100, an increase year by year. The average primary price reached VND91 million/m2, up 16% quarter-on-quarter and 40% year-on-year.
"In Hanoi, there are currently many projects located in prime locations, developed by reputable investors, causing product prices to increase. The price from 100 million VND/m2 has become popular. In the third quarter of 2025, it is expected that many new projects in beautiful areas will be launched on the market, with prices mainly from over 100 million VND/m2. Therefore, in the short term, it is difficult to reduce the average price of apartments" - Ms. Do Thu Hang shared.
In the whole year of 2025, the new supply is expected to reach 26,400 units, higher than the 25,000 units newly opened for sale in 2024. In 2026-2027, it is expected that 46,600 apartments from 43 projects will be launched on the market.
