Services
Growth amidst challenges
Ho Chi Minh City’s real estate market recorded a revenue of over VND 282,000 billion in 2024, accounting for nearly 61% of the total revenue from other services and an increase of 7.9% compared to the same period last year. According to the Ho Chi Minh City Statistics Office, this indicates a market recovery as the government’s supportive policies begin to take effect. In particular, lower deposit and lending rates for production and business have made it easier for businesses and individuals to access capital.
The latest data from the Ho Chi Minh City Statistics Office shows that in January 2025, despite coinciding with the Tet holiday, real estate business revenue remained impressive at nearly VND 23,000 billion.
Real estate business revenue reached nearly VND 23,000 billion in January 2025
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However, despite the revenue increase, Ho Chi Minh City’s real estate market still faces challenges. According to the Statistics Office, the real estate sector’s contribution to the city’s GRDP growth in 2024 was modest, at only 1.1%.
The number of real estate businesses licensed in 2024 in Ho Chi Minh City also decreased in terms of the number of enterprises and registered capital compared to the previous year. This reflects investors’ cautious psychology and the market’s instability.
Additionally, according to a report by the Ho Chi Minh City Real Estate Association (HoREA), the market still faces challenges in supply. In the first eleven months of 2024, only 12 housing projects were approved for investment, just one-fifth of the pre-COVID-19 period. This indicates that although demand is showing signs of increasing, legal issues are slowing down project implementation.
Advantages lie with projects with clear legal status
According to a survey by the Vietnam Real Estate Brokers Association (VARS) published in 2024, 70% of investors are ready to invest if they find suitable products. One of the critical factors influencing buyers’ decisions in the current phase is the transparency and solid legal foundation of the projects.
Investors’ psychology is understandable given that tens of thousands of apartments in Ho Chi Minh City have not been granted pink books due to legal complications. Specifically, as of May 2023, there were 81,085 houses in 335 commercial housing projects in the city that had not been granted pink books. After nearly two years of active resolution, about 38,000 houses are still awaiting their certificates.
Therefore, projects with readily available pink books, complete investment, clear handover time, and supportive policies are preferred. This is a distinct trend as buyers seek safety and long-term value in their investment decisions.
KITA Group’s strategy to focus on the luxury segment
Amid market fluctuations, KITA Group maintains its strategy to concentrate on the luxury real estate segment, believing that demand in this segment will continue to grow steadily, especially from customers with strong finances and high expectations of product quality.
Specifically, luxury apartments in Ho Chi Minh City are in the lead. In the fourth quarter of 2024, the absorption rate of new apartments increased by 80% quarter-on-quarter, with the luxury segment accounting for 49% of transactions. HoREA’s report shows that 100% of new supply belongs to the luxury segment, while there is no supply of affordable and mid-range housing. According to Savills, the demand for luxury real estate increases due to improved incomes and the scarcity of central land.
With positive signals from Ho Chi Minh City’s real estate market, 2025 promises to be a year when projects with transparent legal status and supportive policies will dominate. Kieu by KITA – a project by the group located at 927 Tran Hung Dao, District 5, boasts a prime location and complete legal status, along with flexible payment policies, giving buyers peace of mind in owning a high-quality property in the city center.
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Specifically, the developer has fulfilled all financial obligations, and 100% of the red books are ready to be handed over to customers along with the apartment delivery in early 2025. KITA Group offers an attractive policy: only a 30% payment is required to receive the house, with the remaining balance paid in installments directly to the developer, without bank mortgage.
According to Avison Young Vietnam’s market report released in early January 2025, the luxury apartment segment experienced the fastest price increase in 2024. Currently, the selling price of luxury apartments in Ho Chi Minh City’s center has surpassed USD 8,000/m2 (over VND 200 million/m2). Therefore, with a selling price of VND 133 million/m2, Kieu by KITA is considered extremely reasonable and a rare find in today’s market, making it a wise investment choice.
While the real estate market in 2025 still faces challenges, projects like Kieu by KITA provide a solution for legal safety and investment efficiency in early 2025.
“A Quiet Spell for District 9’s Notary Public Office”
The once bustling atmosphere of the notary office has now faded, with a dwindling number of files and a scarce footfall. The post-Lunar New Year rush is a distant memory, and the staff now find themselves with a lighter workload.
“HCM City’s Real Estate Revenue Rises Over 6% in the First Half of the Year”
The Ho Chi Minh City Statistics Office reports that revenue in the real estate sector for the first six months of 2024 is estimated at VND 123,887 billion, a rise of over 6% compared to the same period last year.
The Ministry of Planning and Investment Proposes New Business Registration Regulations
The Ministry of Planning and Investment is seeking feedback on its draft decree on business registration, which is intended to replace Decree No. 01/2021/ND-CP.
