New or old projects also increase prices strongly
In the meeting on the afternoon of September 22, Prime Minister Pham Minh Chinh issued many important instructions related to the real estate market. The Prime Minister raised the issue of how many people need a house but cannot buy it because the price of the house is too high; apartment buildings that are just over 70 million, over 100 million VND per square meter, who can have the money to buy.
The Prime Minister requested the implementation of solutions to reduce real estate prices and increase supply to meet supply and demand.
Over the years, housing prices in large cities have been continuously climbing, the supply of affordable and mid-range products has gradually disappeared, the market has shifted strongly to high-end and super high-end products, making people's home ownership opportunities increasingly remote.
Market research data from DKRA Consulting shows that in August 2025 alone, the luxury and luxury apartment segment led, accounting for 41.6% of the primary supply in the whole market and mainly concentrated in Ho Chi Minh City.
The primary selling price level recorded an increase of 2-6% compared to the previous month. The highest primary selling price was recorded at 493 million VND/m2, the lowest was 37 million VND/m2.
From mid-August 2025, investor Van Phuc Group began accepting bookings at the Diamond Sky project - a high-rise subdivision in Van Phuc City Urban Area. The project provides the market with about 300 luxury apartments, with an area of 63-350m2 with an expected price of about 130 million VND/m2, equal to international urban areas in the area.
Gamuda Land also launched phase 3 of the Eaton Park project, launching the final shipment at VND 125-220 million/m2 (equivalent to VND 5.6 billion for a 1-bedroom apartment and VND 11.3 billion for a 3-bedroom apartment). At the same time, Dat Xanh's The Prive project consumed more than 1,000 apartments in just 2 short sales from August 21-24, with an average price of about 120 million VND/m2.
Not only the primary market, but also the selling price in the secondary market increased sharply. Data from JLL Vietnam shows that in the second quarter of 2025, the secondary selling price (re-selling) of apartments in Ho Chi Minh City will average nearly 100 million VND per square meter, up 1.7% compared to the previous quarter and 9.4% compared to the same period last year. This price is mainly recorded in high-end projects in the inner city, the South and the old Thu Duc City.
Looking back at the apartment market in Ho Chi Minh City 5-10 years ago, we will see more clearly the rapid price increase of this type of housing. The price of a 2-bedroom apartment at the Masterise Thao Dien project in 2017 was about 3 billion VND, now it has reached about 7-8 billion VND, an increase of 130-170% after 8 years.
Or Empire City project in Thu Thiem, when the first building opened for sale in 2016 was priced at 60-70 million VND/m2, now trading at 170-200 million VND/m2, even the river view apartments have skyrocketed to 300-350 million/m2, an increase of 5 times compared to the time of opening for sale...
Many other projects in near central areas have had prices increase of about 7-10% in the past few months and achieved an average selling price of more than 130 million VND/m2.
Affordable housing supply improves thanks to merger
Meanwhile, the merger of administrative boundaries has significantly supplemented the supply of apartments for Ho Chi Minh City. Most of the newly implemented projects are in the mid-range segment, priced at around 40 million VND per square meter, concentrated in the old Binh Duong areas. The selling price level of this supply is considered quite cheap at present.
For example, Bcons Group has just joined hands with Japanese partner Mercuria SPV to jointly implement the Bcons Asahi apartment project. The project will provide the market with 490 apartments with an area of 35-74 m2, of which the 50 m2 type accounts for a large proportion. The investor said the expected price of apartments here will be under 2 billion VND.
In the same area, Phu Dong Group is opening for sale apartments in the Phu Dong Sky One project with a scale of more than 800 apartments, with prices starting from 38 million VND per m2. An Gia Group has just introduced a basket of nearly 700 apartments in The Gio Riverside project, located in Dong Hoa ward, Ho Chi Minh City. New apartments are on the market with prices starting from 48 million VND per square meter. TT Capital Joint Venture has also just opened for sale nearly 2,000 apartments in the TT Avio project, with starting prices from 35 million VND per m2.
This supply is helping Ho Chi Minh City relieve its thirst for affordable housing, while contributing to balancing the market and reducing the pressure of the supply-demand gap that has lasted for many years. However, experts also warn that the apartment price level in Binh Duong has increased by 22% in the past 6 months. In which, primary prices increased by more than 30%, while secondary prices increased by only less than 10%. This shows that the primary market is heating up rapidly, but real demand is still increasing slowly.
"Housing prices are unlikely to decrease at the current stage due to the high input costs of projects. Currently, projects being opened for sale still have to bear many costs such as land tax, bank loan interest costs due to prolonged delays in legal procedures. This causes high input costs for projects, forcing housing prices to stay at a high level. With these costs, investment businesses can only increase prices to compensate, but cannot reduce prices, because price reduction means loss of profit", said Dr. Nguyen Duy Phuong, Investment and Strategy Director of DG Capital.
