The Ultimate Guide to the Disappearance of Affordable Housing in Southern Vietnam: Unveiling the Mystery of the $43,000 – $86,000 Apartments

According to observations, apartments priced at VND 1-2 billion are now only found in Binh Duong, Long An, and Dong Nai, but their numbers are significantly lower compared to the 2018-2020 period. Long An and Dong Nai focus more on land, while Binh Duong mainly develops mid-range apartments.

From 2018 to 2020, Binh Duong had many apartments priced at around VND 1 billion, but the supply has decreased significantly, and prices have increased from VND 20-25 million per square meter (2018-2019) to VND 30-35 million (2021) and VND 40-50 million (2023-2024).

Currently, the supply of apartments priced at around VND 30 million per square meter or below in Binh Duong is quite modest. Some even predict that this price range is about to become a “rare find” in the area, as only a few projects have been launched recently, almost single-handedly driving the market demand.

The decreasing number of affordable projects has prompted investors to seize the opportunity to enter the market early and increase their profits. For homebuyers, they take advantage of the period before prices rise significantly, along with attractive sales policies offered by developers, to make their purchases, saving tens to hundreds of millions of VND. This has stimulated liquidity in some projects.

For instance, the TT AVIO project, a joint venture between TT Capital and two Japanese giants, Cosmos Initia and Koterasu Group, recently sold out its first phase of 350 units on the morning of its market launch. With a price of VND 1.23 billion per unit – a rare price range in the area, along with breakthrough sales policies, the project quickly achieved an impressive absorption rate. The joint venture is now preparing to launch the second phase, expecting positive demand close to the Tet holiday, as it continues to offer competitive housing prices in the region.

In addition, the project’s quality construction and unique sales policies, prioritizing the interests of customers, are also highlights that attract buyers to this Japanese-standard apartment project. Specifically, instead of applying fixed payment schedules like many other developers, the Japanese joint venture allows customers to “negotiate payments” and adjust the payment schedule according to their financial capabilities. This policy not only helps buyers easily own an apartment but also optimizes their cash flow management during different contract stages. With superior advantages and support from reputable partners, the TT AVIO project is expected to continue its success in the second phase, providing an ideal home ownership opportunity right before the new year.

Similarly, Bcons, in collaboration with Tan Dong Hiep Corporation, has just launched the Tan Dong Hiep Residential Area project, comprising 2,650 units, attracting attention with a rumored price of VND 30 million per square meter. The project is expected to be sold in 2025 but has already garnered interest due to its rare price in Dĩ An, Binh Duong.

In the same area, Phu Dong SkyOne by Phu Dong Group also stands out with prices ranging from VND 1.6-1.8 billion per unit (75% of the basket), along with flexible policies: young people with an income of VND 20-25 million per month only need to pay VND 160 million to own an apartment, with a grace period for principal and interest support for 24 months. If they choose the non-bank slow payment option, buyers only need to pay VND 9 million per month to own an apartment. Notably, whether for living or renting, buyers can benefit from the developer’s commitment to lease the apartment for up to VND 8-10 million per month, up to VND 120 million in a year.

Thus, the number of affordable apartments in Binh Duong is decreasing, but new projects remain attractive due to their competitive prices compared to Ho Chi Minh City. Apartments priced below VND 2 billion per unit are expected to continue increasing due to land scarcity and rising input costs.

Mr. Le Quoc Kien, with his extensive experience in real estate investment and knowledge of the market’s development cycles, shared his insights: “Real estate prices are unlikely to decrease due to rising land, construction, and infrastructure costs. Specifically, for the apartment segment, prices may increase by 10% in the next three years as supply becomes scarcer.”