A survey by Batdongsan.com.vn recorded that the price level in the secondary market of apartments in the western area of Ho Chi Minh City has fluctuated significantly in recent times.
In the old District 6, the selling price of apartment D - Homme ( now in Binh Phu Ward, Ho Chi Minh City) increased by about 150 - 250 million VND compared to more than a year ago. The average selling price of apartments here is 65 - 74 million VND/m2, 2-3 higher than last year. There are even many corner apartments with beautiful locations, the selling price can increase by an average of 300 million VND/apartment compared to 1 year ago.
Or at lucky Palace project in Binh Tay ward (HCMC), the selling price is at a common level of 50 - 60 million VND/m2, an increase of about 2-3 prices compared to the common level of 47 - 58 million VND/m2 last year.
In the area of Tan Thoi Nhat ward, the old district 12, now Dong Hung Thuan ward (HCMC), the selling price of Prosper Plaza apartments is at 43 - 48 million VND/m2, this price also increased by 2 - 4 prices compared to the same period last year, causing the total increase of an apartment to average about 200 million VND/apartment. The price of 8X Plus apartments also increased from 38 - 40 million VND/m2 to 41 - 44 million VND/m2.
Tecco Green Nest apartments also increased in price from 31 - 33 million VND/m2 to 33 - 35.5 million VND/m2. In Thoi An ward, projects such as PiCity High Park have increased in price from 38 - 40 million VND/m2 to 42 - 44 million VND/m2. At Happy One project, the price also increased from 44 - 45 million VND/m2 to 46 - 47 million VND/m2. Similar increases were also recorded in projects such as I park An Suong, Stown Tham Luong, Thai An, Dong Hung...
In addition to the transfer market having certain growth, Mr. Dinh Minh Tuan, Director of Batdongsan.com.vn in the Southern region, said that the apartment rental market in the West is also a bright spot worth noting.
One of the most prominent advantages of the Western region is the population size. This area is currently home to about 3 - 3.5 million people, accounting for nearly 40% of Ho Chi Minh City's population. This figure is three times higher than the East and South, which are only 1.1 - 1.5 million people, the North will be 1.1 - 1.2 million people or the Central region will be 4.5 - 5 million people. In fact, the West is one of the places with the highest population density but has not been developed commensurately in terms of housing infrastructure in Ho Chi Minh City.
Rental rates are exceeding the city average. Currently, the apartment rental rate in the West is an average of 3.0 - 4.2%/year, surpassing the East by 2.8 - 3.5%, which has been considered a "hot spot" of the market in recent years. The West currently focuses on many adjacent amenities such as supermarkets, shopping malls, universities, large hospitals... creating a competitive advantage in attracting stable and long-term tenants, from students, young people to young households.
In the primary market, Mr. Tran Minh Tien - Director of the One Mount Group Center for Market Research and Customer Insight - said that Ho Chi Minh City will welcome about 1,900 new apartments for sale in the second quarter of 2025. Although new supply in Ho Chi Minh City is limited, the consumption exceeds supply, up to 2,900 units (up 72% over the same period), including products that have been opened for sale before.
This shows that although the Ho Chi Minh City market is not exploding in supply, demand is still strong as buyers actively absorb both old and new products. The average apartment price in Ho Chi Minh City is around 89 million VND/m2, almost unchanged compared to the previous quarter (not significantly fluctuating) and 15% higher than the same period.
It is forecasted that in the period of 2025 - 2026, the apartment market in Ho Chi Minh City may welcome about 24,400 newly opened apartments, an increase of 4,400 apartments compared to the previous forecast. Primary selling prices are expected to continue the upward trend and are likely to surpass the 100 million VND/m2 mark in 2025.
