According to the November 2024 issue of DKRA Group’s Ho Chi Minh City and Surrounding Areas Residential Real Estate Market Report, the market is maintaining an upward trajectory in both supply and demand.
Specifically, in the apartment segment, the primary supply in this area comprised 13,681 units from 113 projects, a 5.4% increase compared to the same period last year. By locality, Ho Chi Minh City and Binh Duong led in terms of proportion, accounting for 60.6% and 35.7% of the total primary supply in the market, respectively.
Meanwhile, Ba Ria – Vung Tau accounted for 2.9%, Dong Nai 0.6%, and Long An 0.2%. Tay Ninh did not record any new primary apartment supply in the past month.
The overall demand showed signs of recovery, with consumption reaching 2,011 units, double that of the same period. Most transactions were concentrated in new projects launched in Ho Chi Minh City during the month.
In November, primary apartment prices in Ho Chi Minh City ranged from 37 to 493 million VND per square meter, while in Binh Duong, they were approximately 39 to 60 million VND per square meter. In Ba Ria – Vung Tau, prices fluctuated between 35 and 61 million VND per square meter, and in Dong Nai, they ranged from 33 to 41 million VND per square meter. Long An recorded prices of about 21 to 29 million VND per square meter.
By type, Grade A apartments dominated the primary supply in the region, accounting for 47.7%. These projects were concentrated in the East of Ho Chi Minh City, with selling prices anchored at a high level, commonly ranging from 85 to over 130 million VND per square meter.
Entering December, DKRA expects new supply entering the market to continue its positive trend. The products will mainly come from Grade A and luxury projects in Ho Chi Minh City, as well as Grade B and C projects in Binh Duong, Long An, and Ba Ria – Vung Tau.
In the townhouse/villa segment, November 2024 witnessed positive developments in both primary supply and consumption, recording 5,192 units from 81 projects, with increases of 12% and 11.2 times, respectively, compared to the same period last year.
By locality, Long An led the market, accounting for approximately 85% of the primary supply and 79% of new consumption in the townhouse/villa segment in Ho Chi Minh City and its surrounding areas.
In terms of pricing, Ho Chi Minh City recorded the highest price of 70 billion VND per unit. According to DKRA, the primary price level remained stable compared to previous launches and remained high due to the pressure of various input costs. Developers applied policies such as leaseback commitments, management fee waivers, furniture packages, and early payment discounts to stimulate market demand.
In the secondary market, prices recorded an average increase of 2% compared to the previous quarter, with transactions mainly focusing on groups of projects that had been handed over with ownership certificates, diverse utilities, and convenient regional connectivity/central areas.
Mr. Dinh Minh Tuan, Southern Regional Director of Batdongsan.com.vn, opined that capital is showing signs of flowing into the South after concentrating mainly in Hanoi. According to Batdongsan.com.vn’s data, the number of people from Hanoi searching for real estate in Ho Chi Minh City in November 2024 increased by 7% compared to January 2024. Conversely, the number of people from Ho Chi Minh City searching for real estate in Hanoi decreased by 12% during the same period. The survey also revealed that 66% of Hanoi respondents were interested in southern real estate.
Despite the high potential of the southern market, Mr. Dinh Minh Tuan asserted that legal issues remain a significant obstacle, and investors and buyers need to consider them carefully.
The Ultimate Residence in Danang’s Vibrant “Economic District” of Lien Chieu: MIA Center Point
In the bustling and vibrant heart of Danang City’s ‘Economic District’ of Lien Chieu, MIA Invest pioneers the development of the prestigious MIA Center Point apartment tower.
The Capital’s Appeal: Over 1,200 Apartments in Lumi Hanoi and Heritage West Lake Now Available for Foreign Ownership
The Hanoi Department of Construction has just announced that it will allow two additional condominium projects, comprising over 1,230 units, to be sold to foreign buyers.
How Long Does the Ownership of Real Estate Last in Vietnam?
Owning a home is a significant aspiration for many, not just in Vietnam but worldwide.
“Alleyway Homes: The 30-50sqm Gem That’s Now a Rarity in the Market and Priceless”
“There has been a recent change in the minimum land lot size requirements in Vietnam, according to Le Viet Long, Director of the Resource Center at RECO Home Real Estate Company. Previously, a plot of land as small as 30 square meters could be registered as a separate lot, but the new regulations now require a minimum size of 50 square meters. As a result, houses in alleys with an area of around 30-50 square meters have become a rarity and are no longer available on the market, driving up prices significantly in this segment.”
The Real Estate Shark’s Hunt for Untapped Terrains
As Hanoi becomes increasingly congested and property prices soar, large investors – often referred to as real estate ‘sharks’ – are on the lookout for new potential territories. They are expanding their horizons!
