Apartment prices are slow to increase
The real estate market in the first quarter of 2025 continues to record many positive changes with price stability in large cities and increased supply in many segments.
According to the Ministry of Construction, despite difficulties from global economic fluctuations, the domestic market still shows signs of recovery and healthy development, especially in the social housing segment and large-scale projects.
The Ministry of Construction said that apartment prices in large cities such as Hanoi, Ho Chi Minh City, Da Nang and Hai Phong have generally not fluctuated much compared to the fourth quarter of 2024.
Apartment prices are divided into clear segments. The affordable segment has prices under VND45 million/m2, the mid-range segment ranges from VND45 to VND70 million/m2, the high-end segment from VND70 to over VND100 million/m2, and some super luxury projects have prices up to nearly VND200 million/m2.
In Hanoi, many outstanding projects have prices for sale in the first quarter such as The Pavilion (50-64 million VND/m2), Vinhomes Smart City (55-80 million VND/m2), Vinhomes D'Capital (75-110 million VND/m2).
Apartment prices in Ho Chi Minh City are similar, with some projects such as Thu Thiem Green House (27-31 million VND/m2), Diamond Centery (61-75 million VND/m2) and Vinhomes Grand Park (50-67 million VND/m2). Apartment prices are generally stable, with only a few locations increasing slightly by 3-5% compared to the previous quarter.
Meanwhile, the villa and townhouse segment in the project recorded an upward trend in prices. In Hanoi, the common price of villas and townhouses is from 100 to 200 million VND/m2, even projects such as Vinhomes Riverside or My Dinh Song Da have prices up to 300-550 million VND/m2. In Ho Chi Minh City, the price of villas and townhouses is stable, ranging from 90 to 250 million VND/m2 with some high-end projects such as Phu My Hung and Hado centrosa Garden priced up to 400-560 million VND/m2.
In other localities, such as Da Nang, Hai Phong or Binh Duong, the price of villas and townhouses also tends to increase slightly from 70 million VND/m2 to over 160 million VND/m2 depending on the project.
Land and commercial and industrial real estate fluctuated slightly
Land prices in the first quarter of 2025 will have more obvious fluctuations due to the impact of information on merging provinces and cities, especially localities that have become places where new administrative agencies are located, causing land prices to be pushed up and transaction volume to increase rapidly.
Some areas such as Bac Giang, Phu Tho, Ninh Binh, Thai Binh, Hung Yen, Hai Phong, Dong Nai recorded a land price increase of over 20% over the same period last year. However, the Ministry of Construction warned that many transactions have signs of speculation and potential risks, so people need to be cautious.
Regarding commercial real estate, office rental prices in Hanoi and Ho Chi Minh City in the first quarter were stable, not much changed compared to the previous quarter. The rental price of class A offices ranges from 25 to 50 USD/m2, class B from 15 to 25 USD/m2, class C from 10 to 15 USD/m2. Some prominent buildings such as Lancanster Luminaire (Hanoi) have rental prices of 25-27 USD/m2, CJ Tower (HCMC) has rental prices of about 28-30 USD/m2.
Industrial real estate continues to be a bright spot when large industrial parks such as WHA Industrial Zone 2 (Nghe An), Hoa Ninh Industrial Park (Da Nang) or Nomura Phase 2 (Hai Phong) are approved for investment with large areas. Land rental prices in industrial parks remain stable or increase slightly by 1-2%, an average of about 50-200 USD/m2 depending on the region. The rental price of pre-built factories also increased by about 2% compared to the same period last year.
Resort real estate in provinces such as Ba Ria - Vung Tau, Khanh Hoa, Da Nang also did not have many fluctuations in prices in the first quarter, with condotel and tourist villa prices fluctuating widely, suitable for the diverse needs of customers.
