A recent report by Savills Vietnam indicates a limited supply of shophouses and villas in Ho Chi Minh City in 2024, with only 197 units released from two projects. Primary supply decreased by 2% year-on-year to 970 units. Notably, the segment priced above VND 30 billion per unit continued to dominate with a 74% market share. Due to the high prices, transactions of shophouses and villas in the fourth quarter of 2024 decreased sharply by 65% quarter-on-quarter and 6% year-on-year. Primary prices in the fourth quarter increased by 20% quarter-on-quarter but decreased by 10% year-on-year to VND 330 million per square meter.
Ho Chi Minh City’s shophouses and villas see low demand. Source: Savills Vietnam
Previously, in the third quarter of 2024, Savills also pointed out the limited new supply of villas and shophouses in Ho Chi Minh City, with only 145 units. Products priced above VND 30 billion per unit accounted for 63% of the primary supply, but the absorption rate was low at only 7%.
According to Savills’ forecast, the high-end segment will continue to dominate in Ho Chi Minh City due to limited land availability and rising input costs, while affordable supply will expand to neighboring provinces thanks to improving infrastructure. In 2025 alone, over 700 shophouses and villas are expected to be released in the Ho Chi Minh City market, with 55% coming from subsequent phases of existing projects. Products priced above VND 20 billion will account for 70%.
In contrast to Ho Chi Minh City, Hanoi witnessed a new supply of 4,655 villas and terraced houses in the fourth quarter of 2024 from 11 projects. Primary supply reached 5,002 units from 18 projects, a seven-fold increase both quarter-on-quarter and year-on-year. The number of transactions in the last quarter of 2024 surged to 3,317, a tenfold increase quarter-on-quarter and a 52-fold increase year-on-year. The absorption rate in the quarter rose by 18 percentage points to 66%.
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