Recently, Masterise Homes' Grand Marina Saigon project located on Ton Duc Thang Street, in Ba Son urban area, Saigon Ward, Ho Chi Minh City caused a "shock" when rumor prices ( speculative prices) of apartments came to the market.
Accordingly, the expected selling price (rumor) of Marriott Residences Special Edition apartments at Lake building is as follows: a studio (52.62m2) is priced at 24 - 25.5 billion VND, a 1-bedroom apartment (51.02m2 - 64.57m2) is priced at 29.5 - 31.5 billion VND, a 1-bedroom apartment + (67m2 - 72m2) is priced at 33.5 - 35 billion VND, a 2-bedroom apartment (88.58m2 - 117.05m2) is priced at 50.5 - 52 billion VND. Thus, it can be seen that the selling price of these apartments is up to 450 million VND/m2.
Also in the central area of Ho Chi Minh City, there is another project that is being introduced to buyers at a price of 230 - 250 million VND/m2. In the new urban area of Thu Thiem, apartments are being offered for sale at prices ranging from 150 - 400 million VND/m2. Previously, the project in District 1 (old) had information about selling prices up to 1 billion VND/m2, but after that, this project encountered many legal problems, so it was still "frozen" and could not be implemented.
Speaking to Lao Dong newspaper reporters, Mr. Le Hoang Chau - Chairman of Ho Chi Minh City Real Estate Association (HoREA) - said that 2025 will continue to be the year when the high-end segment dominates the entire housing market in Ho Chi Minh City. Overall, the housing supply is still scarce and unchanged.
HoREA's market report for the first 6 months of 2025 shows that the city only has 4 commercial housing projects with 3,353 luxury apartments eligible for capital mobilization, with a total value of more than VND 10,200 billion. This figure decreased by nearly 15% compared to the same period last year and was only equal to 18% of supply in 2023.
This is the second consecutive year that Ho Chi Minh City has not had any commercial housing projects in the mid-range, affordable segment (priced under VND40 million per m2). 100% of projects opened for sale in the first half of the year are in the high-end segment, maintaining a state of supply imbalance from 2024 to present. This imbalance makes the market unsustainable, like the "upside-down pyramid" model.
According to Mr. Chau, the decline in mid-range housing is still widespread in other major cities across the country. Housing prices have been increasing continuously over the years, causing projects with selling prices under 40 million VND/m2 to gradually disappear.
He explained that the low supply of commercial housing has pushed prices up. In 2024, apartment prices in Ho Chi Minh City will increase to an average of VND90 million/m2, from 2020 to now, the growth rate of housing prices in Ho Chi Minh City has reached 15-20% per year at times.
Regarding the trend of house prices at the end of the year, Mr. Le Hoang Chau predicted that prices will continue to increase due to the impact of the new land price list and the psychology of investors' profit expectations is still high.
Many investors are not under great financial pressure, so there is no incentive to reduce prices. On the contrary, low interest rates, cheap cash flow and public investment are being promoted, causing the psychology of expecting prices to continue to dominate the market. Meanwhile, the supply in suitable price segments is still very scarce.
