“Ho Chi Minh City’s Outskirt Land Prices Surge”

The real estate market in Can Gio, Vietnam, has witnessed a significant transformation with the arrival of mega-projects and infrastructure investments. In April 2025, Vingroup, a prominent conglomerate, officially commenced construction on the Vinhomes Green Paradise project, a large-scale tourism and urban development. This news instantly sparked positive effects on the local land market.

In addition to the mega-project, several key transportation infrastructure projects are also providing a significant boost to Can Gio’s real estate market. Specifically, in January 2025, the Prime Minister approved the investment policy for the Can Gio International Transit Port project, with a total investment of over VND 113 trillion (equivalent to USD 5.5 billion). Moreover, Ho Chi Minh City aims to commence construction on the Can Gio Bridge in 2025, with completion expected by 2028. This bridge, the largest cable-stayed bridge in the city, will span 7.3 kilometers.

Prior to the arrival of these mega-projects, Can Gio’s real estate market was relatively subdued. The area was known for its remote location and considered a backwater in Ho Chi Minh City’s real estate landscape.

However, the influx of mega-projects and large-scale infrastructure developments has revitalized the land market in Can Gio. According to surveys by Batdongsan.com.vn, many areas in Can Gio have experienced average land price increases of 15-40% compared to the previous year. For example, in Can Thanh town, land prices on Duong Gong Ao street increased from VND 27-30 million/sq.m to VND 36-42 million/sq.m since November 2024. Prime locations can command prices of up to VND 45-50 million/sq.m. Land on Luong Van Nho street, adjacent to the Vingroup super-project, has seen prices rise from VND 50-60 million/sq.m to VND 70-80 million/sq.m.

In Long Hoa commune, located about 1km from the Vingroup super-project, land prices have increased from VND 25-30 million/sq.m to VND 35-46 million/sq.m. Land on Duong Duen Hai street has experienced a price increase from VND 30 million/sq.m to over VND 40 million/sq.m within a year. Prime locations with good frontage have seen prices rise from VND 34-45 million/sq.m to VND 52-65 million/sq.m. On the same street, land in the alley is now priced at VND 27-33 million/sq.m, compared to VND 22-26 million/sq.m six months ago.

Not only have prices risen, but the number of investors interested in Can Gio land has surged following the announcement of the mega-project. Compared to the same period last year, the number of investors visiting the area has increased fivefold, creating a wave of land price increases. However, market activity is mainly driven by investors, with limited end-user demand.

In a recent sharing, Cao Thi Thanh Huong, Senior Manager of Research at Savills Vietnam, opined that the boost from infrastructure and seaport development is attracting investors’ attention to Can Gio. However, she emphasized that the area’s potential will only be fully realized in the long term and is not suitable for short-term investors. “Investing in Can Gio should be a medium to long-term strategy,” she said. “Short-term speculation carries risks as Can Gio still has limited accessibility compared to the city center, and there is insufficient real demand or long-term residency to fuel a boom in the near future.”

Nonetheless, according to the Savills expert, it is undeniable that Can Gio is undergoing a significant transformation thanks to the strong investment in transportation infrastructure and mega-projects worth billions of dollars. Notably, the Can Gio Bridge project is expected to replace the Binh Khanh ferry, reducing travel time between the city center and Can Gio to less than an hour. In addition, the upgrade of the Rung Sac road, the expansion of connections to the Ben Luc-Long Thanh expressway, and the planned high-speed inter-regional railway are all expected to open up development opportunities for the area.

Recently, the land market in Hoc Mon and Cu Chi districts of Ho Chi Minh City has seen positive developments, with increased activity compared to the previous period, especially after adjustments to regulations on land subdivision sales. Specifically, some land lots have rebounded in price after a sharp decline in mid-2023. Investors are also optimistic about potential price increases with the upcoming large-scale projects in these areas.

Compared to the end of 2024, there are now signs of a comeback in Hoc Mon and Cu Chi in both demand and selling prices. Brokers are experiencing an increase in transactions compared to the pre-Tet period.

In Ba Diem commune, Xuan Thoï Thuong, and Xuan Thoi Son in Hoc Mon district, as well as An Nhon Tay, Nhuan Duc, Hoa Phu, and Tan Dong Thanh in Cu Chi district, real estate prices are approaching the levels seen at the end of 2021. Land lots and detached houses sold during this period have increased by 7-10% compared to the previous year, depending on the lot and location. However, prices remain 15-7% lower than in 2021.

Land plots on the frontage in Hoc Mon are currently trading at prices ranging from VND 30-80 million/sq.m, while land in the alleyways fluctuates between VND 20-45 million/sq.m, depending on the area. Transactions are stable for land plots priced between VND 2.5 and 3.5 billion and detached houses priced between VND 3 and 6 billion. These prices reflect an increase of VND 50-150 million compared to the end of 2024. According to brokers, there has been an improvement in the number of customers inquiring about land, with most buyers being end-users or long-term investors rather than short-term speculators.

Local brokers attribute the positive market sentiment to the area’s favorable planning and infrastructure developments. They have been actively listing properties for sale, and there has been an increase in buyer interest compared to the previous year.

According to the master plan, among the 22 administrative units at the district level in Ho Chi Minh City, there are five suburban districts: Binh Chanh, Hoc Mon, Cu Chi, Nha Be, and Can Gio. The goal is to develop these five suburban districts into satellite cities of Ho Chi Minh City by 2030.

In a workshop on the planning of these five suburban districts towards 2030 and the vision towards 2045, all five districts opted for the model of becoming a city under the province. This proposal was also recommended by a team of experts advising the People’s Committee of Ho Chi Minh City on sustainable development.

Many investors are highly optimistic about the growth prospects of the real estate market in Cu Chi, Hoc Mon, and Can Gio, given the positive news on planning and development. While land transactions have not yet exploded across the entire market, the return of investors indicates a strong belief in future price appreciation.