Apartment supply reaches highest level in 3 years
According to data from the One Mount Group Market Research & Customer Understanding Center, in the fourth quarter of 2025, the total supply of new apartments opened for sale in Hanoi and Ho Chi Minh City reached more than 66,000 units - the highest level in the past three years. Large supply concentrated in the last three months of the year shows that investors' confidence in market prospects has been significantly strengthened.
In Hanoi, the newly opened supply in the fourth quarter of 2025 reached about 15,500 units, an increase of 85% compared to the third quarter of 2025 and an increase of 26% compared to the same period last year. Notably, the market recorded up to 14 first-time projects - the highest number ever in a quarter.
Meanwhile, Ho Chi Minh City shows a clear recovery after a prolonged period of sluggishness. New supply opened for sale in the fourth quarter of 2025 reached about 14,500 units, an increase of 130% compared to the previous quarter and 2.7 times higher than the same period in 2024.
A highlight of the fourth quarter of 2025 is the simultaneous return of many large investors. In Hanoi, a series of new projects and large-scale projects were launched by reputable businesses, while in Ho Chi Minh City, many investors also restarted or opened for sale projects in the central and core urban areas. This trend reflects the positive legal clearance process, and also shows the expectations of businesses for a more sustainable growth cycle in the medium and long term.
In parallel with the increase in supply, the market's absorption capacity is also recorded at a positive level. In 2025, Hanoi consumed about 34,500 apartments, a slight increase of 2% compared to 2024, while Ho Chi Minh City reached about 30,400 units, 2.4 times higher than the previous year.
Apartment selling prices clearly differentiate between the two markets
Average selling prices in the two markets are witnessing notable contrasting developments in 2025, reflecting the diversity in supply and investment expectations.
In the Hanoi market, the average primary price in the fourth quarter of 2025 reached 86 million VND/m2, unchanged compared to the previous quarter and up 13% compared to the same period last year. The price increase slowed down mainly due to new supply concentrated in areas outside the center such as Van Giang (Hung Yen), Dan Phuong, Hoai Duc, Hoa Lac. Meanwhile, the price of newly opened projects in the center area is still high, reaching an average of 124 million VND/m2.
In the center of Ho Chi Minh City, the average selling price reached 103.2 million VND/m2, an increase of 8.6% compared to the previous quarter and a significant increase of 25% compared to the same period in 2024. Focusing on the high-end and luxury segment has directly repositioned the entire price level in the southern economic center.
It is forecasted that in 2026, the Hanoi primary apartment market will continue to maintain positive growth momentum with a total number of newly opened apartments expected to be about 35,000-40,000 units, equivalent to or higher than 2025.
In the Ho Chi Minh City market, the market is forecast to continue its recovery trend in 2026. The main driving force for this breakthrough comes from the Government's drastic efforts to remove legal "bottleneck points", combined with the synchronous implementation of new laws (Land Law, Housing Law, Real Estate Business Law).
The fundamental change in the legal framework not only creates a "green corridor" for new projects but also directly restarts a series of projects that have been temporarily suspended in the past. This is an important signal to help the market regain confidence and unlock investment capital flows.
The total new supply in the Ho Chi Minh City market is expected to reach 27,000 to 32,000 apartments per year. In which, the central area of Ho Chi Minh City is estimated to contribute from 16,000 to 17,000 apartments per year in the period 2026 - 2027. The significant increase in both quantity and quality of primary supply shows the willingness of investors to welcome the new growth wave.
Mr. Tran Minh Tien - Director of the Market Research & Customer Understanding Center of One Mount Group - said that the apartment market in Hanoi and Ho Chi Minh City is entering a period of transformation with a clear differentiation in growth momentum.
After making a strong breakthrough in the period 2024-2025, the Hanoi market is forecast to maintain its growth momentum but with a stable pace and a price level more suitable for the majority. Meanwhile, Ho Chi Minh City is facing a new wave of growth as legal bottlenecks are gradually being cleared. In particular, the implementation of key projects in Thu Thiem area in 2026 will play the role of a'leader' in establishing new price milestones, completely repositioning the value level for the central area" - Mr. Tien shared.
