Prices Surge Fivefold
The Ministry of Construction’s Q2/2025 real estate market report reveals that apartment prices in Ho Chi Minh City averaged 89 million VND per square meter, a 36% increase compared to the same period last year—the highest surge in nearly a decade. Secondary market prices rose significantly in areas with developed infrastructure or completed projects.
CBRE Vietnam’s Q2/2025 real estate data shows that the primary selling price for apartments in Ho Chi Minh City (old) reached 82 million VND per net square meter, up nearly 7% from the previous quarter and 29% year-over-year. Prices in Q2 were adjusted upward by 10-13% compared to the previous phase.
Average apartment prices in the Eastern area reached approximately 100 million VND/m², while the city center ranged from 110 to 200 million VND/m².
Similarly, Batdongsan.com.vn’s data highlights that Ho Chi Minh City’s real estate market in Q2/2025 saw significant price increases in the apartment segment, particularly in the Eastern and Southern areas of Saigon.
Specifically, average apartment prices in the Eastern area reached approximately 100 million VND/m², while the city center ranged from 110 to 200 million VND/m². Notably, private house prices in Eastern Saigon increased by an average of 15% in the first 8 months of the year. During the same period, apartment prices in the Eastern area rose by an average of 30%, double the increase in private house prices.
In Southern Saigon, apartment prices surged by an average of 35%, while private house prices increased by only about 10%. This trend has narrowed the price gap between apartments and landed properties, with apartments even surpassing private houses in some areas.
Batdongsan.com.vn’s survey reveals that a 2-bedroom apartment in Masteri Thao Dien, priced at around 3 billion VND in 2017, now trades at approximately 8-9 billion VND, a 140-190% increase over 7 years.
At Empire City in Thu Thiem, the first tower launched in 2016 at 60-70 million VND/m², now trades at 180-220 million VND/m². River-view apartments have soared to 300-350 million VND/m², a fivefold increase since the launch.
With this rapid price growth, apartment prices in Ho Chi Minh City have approached and even surpassed land prices. For instance, in Thu Thiem, primary prices for new apartments like The Privé and Eaton Park range from 130 to 250 million VND/m², while landed properties within a 2 km radius are priced lower, averaging 110-200 million VND/m².
In the Southern area, Celesta Rise (Nha Be) records prices at 80 million VND/m², while adjacent townhouses are priced at 60-70 million VND/m². In Western Saigon, the Diamond Alnata Plus subdivision of Celadon City is priced near 85 million VND/m², with nearby townhouses trading at 50-70 million VND/m².
Prices Below 60 Million VND/m² No Longer Exist
The Vietnam Association of Real Estate Brokers (VARS) reports that in Q2/2025, projects priced above 80 million VND/m² increased significantly, with luxury and high-end apartments accounting for 62% of total supply, up by over 10,000 units compared to Q2/2024. The share of luxury and high-end apartments rose by 16% year-over-year.
Notably, the market primarily launched luxury and high-end apartments, with virtually no commercial apartments priced below 60 million VND/m² in major cities like Hanoi, Da Nang, and Ho Chi Minh City—areas with the highest demand. In Q2/2025, Hanoi led the country in high-end apartment price growth, with average prices up nearly 88% compared to the base period, followed by Da Nang (nearly 70%) and Ho Chi Minh City (over 48%).
Ho Chi Minh City’s real estate prices are unlikely to cool down even after administrative boundary expansion.
Mr. Vo Huynh Tuan Kiet, Director of Residential Marketing at CBRE Vietnam, believes that Ho Chi Minh City’s real estate prices are unlikely to cool down even after administrative boundary expansion.
In the first half of this year, primary apartment prices in Ho Chi Minh City averaged 82 million VND/m², up nearly 30% year-over-year. Most new apartment projects in the city center are priced at 110-120 million VND/m², with very few below 100 million VND. This is due to low supply, rising input costs, and increased pressure on developers, making price reductions unlikely.
According to Mr. Kiet, input costs are another direct factor driving up property prices. Many localities will soon issue new land price tables, leading to significant adjustments. Land clearance and land use fees account for a large portion of total project development costs. Construction material prices, labor, and project management costs have risen due to inflation and VND/USD exchange rate fluctuations.
Mr. Dinh Minh Tuan, Director of Batdongsan.com.vn in the Southern region, notes that the surge in luxury and high-end apartments is primarily due to rapidly rising primary prices and limited supply. Additionally, falling interest rates have driven investors toward apartments, a property type that has seen significant legal unblocking in recent times.
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