The supply of luxury apartments is increasingly scarce
According to One Housing, in the period of 2021-2023, apartment prices in Ho Chi Minh City will always maintain an average increase of 12%, of which the East will fluctuate by 13-15%. However, in 2024, both the city in general and the East in particular recorded a sudden increase.
Specifically, in 2024, the average primary selling price of apartments in Ho Chi Minh City will be about 84 million VND/m2, an increase of 15% over the same period in 2023. In particular, the East (Thu Duc City) - where the highest price increase in the whole region - this figure is 100 million VND/m2, an increase of 18.3%.
scarce supply, according to experts, is the main reason for the double-digit increase in primary apartment prices in the East of Ho Chi Minh City. Savills' real estate market report for the first quarter of 2025 shows that only about 800 new apartments are being offered for sale, down 70% compared to the previous quarter.
In the context of scarce supply, the consumption rate on new supply for projects in the East is still 100% despite sharp price increases, especially many projects in District 2 (old) still recorded a consumption rate of over 146%, according to One Housing.
The increasing depletion of land funds in the core areas of Ho Chi Minh City, while the demand for high-quality living space and synchronous utilities is increasing, has made the trend of shifting to areas with strong infrastructure investment such as the East increasingly clear. As a new development center, Thu Duc is considered to be leading the real estate development trend of the whole city.
Breakthrough infrastructure - a strong attraction of the real estate market in the East
Apartment products in the East of Ho Chi Minh City attract buyers because the connecting transport infrastructure is increasingly convenient, bringing long-term potential for price increase. In particular, Thu Duc has a great advantage as a gateway connecting the center of Ho Chi Minh City to the provinces and cities in the key economic region of the South when a series of key infrastructure projects such as metro line 1, An Phu intersection, Ho Chi Minh City - Long Thanh - Dau Giay Expressway, Ring Road 3, Long Thanh International Airport... are being accelerated.
Notably, in the second quarter of 2025, Lien Phuong route - one of the main traffic routes of Thu Duc - is expected to open to traffic. The route connects directly through The Global City urban area. When completed, it is expected to help people travel directly from An Phu ward, Thao Dien ward to the urban area, Phuoc Long B, Phu Huu, Long Truong, Truong Thanh wards and vice versa.
According to data from Savills Vietnam Research Department, the East is the main housing supply source of the Ho Chi Minh City apartment market, plus well-connected infrastructure will attract the attention of both investors and individual buyers.
Quality, legally stable projects become the " focus"
The potential for price increase thanks to scarce infrastructure connectivity and supply helps projects of reputable real estate developers receive great attention. Typically, projects on the frontage of Mai Chi Tho Street by foreign investors are expected to provide the market with more than 2,000 apartments.
One of the bright names is the upcoming high -rise subdivision at the center of The Global City urban area, the new center of Ho Chi Minh City developed by Masterise Homes. This subdivision was particularly interested when Masterise Homes published the first image and published the name Lumiere Midtown, branded Lumiere, made the impression of this world -class real estate developer.
Located at the center of The Global City, Lumiere Midtown subdivision "scored" with the location of the front of Lien Ward Street, inheriting the utility system that has been forming as the largest water music canal in Southeast Asia, love bay and moonlight, City Park sports entertainment complex ... Especially, Lumiere Midtown is located opposite the commercial center up to 123,000 m2. This is considered the largest commercial center in Ho Chi Minh City and the leading scale in Vietnam.
The advantage of the strategic location along the Lien Phuong axis not only makes it more convenient for residents to connect, but also opens up the potential for commercial exploitation, leasing and increasing long-term investment value. A clear demonstration of this reality is that the LUMIERE Riverside project in Thao Dien has increased in price by 75% compared to the time of opening for sale, especially after the information about Metro Line 1 being put into operation.
With all the advantages of location, international quality, sustainable legal status and a complete utility system, luxury apartments at LUMIenRE MIDTOWN are expected to relieve the "thirst" for high-end apartment products for customers, bringing sustainable added value to investors when officially launched in the near future.
