According to the Batdongsan.com.vn Consumer Psychology Report for the first two quarters of 2024 and a forecast for the second half of the year, the demand for home purchases remains prevalent in all market phases (58% of respondents). This demand is currently led by homeowners with families, accounting for 56% (for families with young children) and 73% (for young married couples without children).
Additionally, 9% of respondents who chose to rent instead of buy cited flexibility as their primary reason, rather than financial constraints. Mai (27 years old, Marketing Specialist, Ho Chi Minh City) shared, “I chose a job that doesn’t require me to go to the office every day, but in return, I can change my residence 2-3 times a year to achieve work efficiency. If I can find a living space that inspires my work, it’s also a way to indulge myself.”
Mr. Tinh (32 years old, bank employee, Ho Chi Minh City) changes his residence whenever he finds a living space with ample sports and wellness amenities as he believes in prioritizing self-care despite his busy work schedule. Both Mai and Tinh’s stories exemplify how individuals may have different reasons for choosing to rent, but they share a common need for a conducive living space.
It is evident that the demand for working from home is on the rise, especially among young people, thanks to the development of the internet and the emergence of remote work. As a result, homebuyers, particularly young ones, highly value projects that offer adequate investment and attention to work-from-home amenities.
Top 3 factors considered by homebuyers when evaluating a condominium project: Legal framework; construction quality; services and utilities. (according to Batdongsan.com.vn)
Mr. Nguyen Ngoc Tien, Deputy General Director of Business & Marketing at DXMD Vietnam, added: “Regarding utilities, homebuyers’ expectations are increasingly higher and more explicit when exploring real estate purchases. While supermarkets and convenience stores are considered essential, health-focused amenities and the formation of a wellness-oriented living space are what truly set a project apart.”
Mr. Tien attributed this to the evolution of living standards, progressing from merely needing a place to stay to seeking additional basic amenities and more. He highlighted that health and wellness trends are now top priorities for residents, who aspire to find living spaces that facilitate their health and fitness routines conveniently and safely.
Combining the aspects of seeking a wellness-oriented living space and a green, serene environment, localities endowed with natural advantages or those that have undergone meticulous landscape investments have become desirable destinations for residents, especially in large cities like Ho Chi Minh City. With synchronized plans and solutions to develop the Saigon River corridor, aiming for a “green transition” landmark, Ho Chi Minh City strives for sustainable development with green urban areas, reduced carbon emissions, and climate change adaptation.
With upcoming investments in transportation infrastructure and the ability to offer a “wellness-standard” living space, Northern Saigon is currently an attractive settlement option, featuring softer prices and prudent investments. A notable example is the A&T Sky Garden project near Phu Long Bridge in District 12, Ho Chi Minh City, which is entering the market with prices starting from only VND 31.9 million/m2, attracting both settlers and investors in the area.
A&T Sky Garden project is located next to Phu Long Bridge in District 12, Ho Chi Minh City, designed to offer a wellness-oriented living space.
