Assessing the real estate market situation in the second quarter of 2025, Mr. Le Dinh Chung - Member of the VARS Real Estate Market Research Working Group, General Director of SGO Homes said that the housing supply in the second quarter increased sharply with more than 36,000 new products, more than 2.5 times higher than the previous quarter and an increase of 90% over the same period in 2024. In the first 6 months of the year, the total supply of residential real estate reached about 64,000 products, equal to about 80% of the whole year of 2024.
The supply of newly opened apartments in the first half of the year doubled compared to the same period in 2024. However, the supply structure did not fluctuate much. Projects with prices above VND80 million/m2 increased sharply, causing the proportion of high-end and luxury industrial parks to account for 62% of total supply, an increase of 5 percentage points over the same period in 2024, equivalent to an increase of more than 10,000 products. In particular, the proportion of luxury commercial vehicles increased by 16 percentage points compared to the same period last year.
Notably, the market mainly opens for sale high-end and luxury apartments, with almost no commercial apartments under VND60 million/m2 in large cities such as Hanoi, Da Nang, Ho Chi Minh City - places with the highest demand.
In the second quarter of 2025, the Hanoi area continues to lead the country in terms of growth rate of luxury apartment prices. Followed by Da Nang, while Ho Chi Minh City also recorded significant growth in both selling prices. Compared to the original period, the average selling prices of the projects increased by Hanoi (87.7%), Da Nang (69.8%) and Ho Chi Minh City (48.3%).
The proportion of mid-range apartments in the supply structure of fire prevention and fighting opened for sale in the past 6 months reached about 30%, equivalent to about 9,000 apartments, an increase of more than 4,000 apartments compared to the same period in 2024. This increase comes from a number of newly opened projects in large suburban provinces, with prices starting from 40 million VND/m2.
The affordable supply of CHCC mainly comes from social housing projects, reaching about 3,000 units. However, the proportion of this segment decreased due to the growth rate not keeping up with the strong increase from the high-end and luxury segments.
Analyzing the supply by area, Ms. Tran Thi Mien - VARS expert assessed that the supply has diversified by area, expanding from urban core to satellite areas, second-class urban areas with large land funds and reasonable investment costs. In the second quarter, 53% of the residential real estate supply opened for sale came from projects in the North. The Southern region contributed 34% of the supply in the quarter, although the number of newly opened projects increased sharply, the scale was not large enough to keep up with the launch rate from urban areas in the North.
The second quarter supply is still led by large investors, accounting for more than 72% of the total supply of housing for sale, an increase of nearly 40 percentage points compared to the previous quarter.
Vinhomes' urban area projects alone contributed more than 50% of the supply opened for sale in the quarter. Meanwhile, small and medium-sized enterprises, without advantages in land fund and finance, mainly implement small-scale projects in the provinces. The market also recorded the return of many large enterprises in the Southern region, promising to contribute to increasing supply and improving competitiveness in the coming time.
