Recently, Trung Thuy Group restarted the Lancaster Lincoln project after six years of suspension. The price announced by the investor is about 300 million VND per m2. The Lancaster Lincoln project is located on Nguyen Tat Thanh street (District 4, formerly Xom Chieu ward), built on a land area of about 8,098 m2, including 3 towers, with a total construction floor area of about 86,000 m2 and 25,000 m2 of basement.
It is known that the above project started construction in 2017. However, by 2020, when the project had completed the basement, it had to be temporarily suspended due to problems related to the 542 m2 internal road arising from the planning adjustment.
At Sala urban area in Thu Thiem, Dai Quang Minh has just restarted the new development phase of the Northern sub-area after nearly 8 years of interruption due to legal issues.The first component project is Sarene Residence & Commercial Complex, a complex of luxury apartments and commercial streets on land plot 6.8 in the Northern sub-area of Sala urban area.The new high-rise sub-area is expected to provide more than 480 luxury apartments with prices of about 170-200 million VND/m2, nearly three times higher than the previous phase.
Similarly, the Legacy 66 project on Tan Thanh street, Cho Lon ward (formerly District 5) of Tan Thanh Trading Investment Co., Ltd.has also just been legally resolved to continue implementation after many years of stagnation.
The project started in 2017 on a land area of nearly 4,000 m2. However, by 2021, construction had to be temporarily suspended when the rough construction was almost completed due to legal procedures.
The project is expected to reopen in the second quarter of 2026 with about 348 apartments combined with commercial service shophouses. The current price announced is from 119 million VND/m2, double the level of about 50 million VND/m2 in the 2019-2021 period.
The reason why the above projects adjusted selling prices quite shockingly according to investors is that these projects have been legally hindered for too long, businesses have to bear additional loan interest costs, capital costs, and arising land financial obligations, forcing them to adjust prices if they do not want to lose money.
In addition, the price level of apartment projects in the central area of Ho Chi Minh City is increasing by an average of 10-30% per year, so when project investors return to the market, they can hardly maintain the same as the previous period.
Observing market developments shows that many apartment projects recently have been continuously adjusted by investors to the selling price of the subsequent opening phase higher than the initial phase quite a lot.For example, a high-end apartment project in Thu Thiem area of Ho Chi Minh City in the recent opening phase has adjusted the asking price of phase 3 from 130 million VND/m2 to 150 million VND/m2.
According to the explanation of the investor representative, by the end of 2025, the enterprise plans to officially open new phase sales in the first quarter of 2026 with the project implementation progress and selling price already set. However, from the beginning of 2026 to now, before the development of input costs being inflated due to most raw materials increasing sharply, the enterprise is forced to recalculate the sales plan, in which the selling price is also forced to increase, otherwise it will be a loss.
Meanwhile, the supply of affordable housing in Ho Chi Minh City is increasingly scarce even though real housing demand is still large. The city almost no longer has apartments under 35 million VND per m2, while mid-range apartments with an area of 70 m2 are currently commonly at 5-7 billion VND. With the average price level hovering at about 100 million VND per m2, it is the main reason why market liquidity also tends to stagnate.
Research units believe that excessively high house prices in the context of tight credit control are making it increasingly difficult for the middle class to access housing.This makes both real homebuyers and investors tend to delay their decision to spend money.The problem of balancing cost of goods sold, progress and demand is creating great pressure on real estate businesses.
