One of the most notable highlights in Q3 was the robust surge in the apartment segment, particularly in former Ho Chi Minh City (HCMC) and Thu Duc City. The average asking price for apartments in HCMC reached 99 million VND/m², the highest in the past two years. This reflects a more positive market sentiment, especially after the announcement of administrative unit mergers, sparking expectations of a new growth cycle.
In former Thu Duc City, dubbed the “city within a city,” apartment prices have risen by 32–48% since the beginning of 2023. Areas like District 2, former District 9, and central Thu Duc have become strategic destinations for both homebuyers and long-term investors. Modern infrastructure, meticulous planning, and its role as a technology, education, and logistics hub have solidified Thu Duc’s position as the “locomotive” of Eastern Saigon.
In the city center, luxury apartments in former District 1 continue to command the highest prices, around 222 million VND/m², a 39% increase over two years. However, due to the high prices, investment is shifting to areas with greater growth potential and more affordable prices, such as former Thu Duc, Di An, and Thuan An.
Satellite Areas Binh Duong and Long An Accelerate
Not only the city center but also neighboring provinces like former Binh Duong and Long An have seen significant growth. In Binh Duong, the average apartment price has reached 41 million VND/m², a 30% increase since the start of 2023. Interest has surged by 48%, reflecting the market’s appeal due to its well-developed infrastructure and relatively affordable prices.
In the South, real estate activity is concentrated around former HCMC and Binh Duong.
Former Thu Dau Mot City, the administrative and service center of the province, is emerging as a “bright spot” for investment with a rental yield of 5.1%, the highest in the Southern region, surpassing HCMC. With its attractive yield, vast land reserves, and rapid urbanization, Binh Duong is quickly reclaiming its status as the fastest-growing satellite area around HCMC.
Similarly, former Long An has seen impressive growth: apartment prices have risen by 8%, and land prices by 7%, particularly in areas near HCMC such as Ben Luc and Duc Hoa, which are directly connected to Ring Road 3 and major highways.
Land Plots “Warm Up” but Remain Selective
After a period of stagnation, the land plot segment in former HCMC and its surrounding areas has begun to recover. Average land prices in HCMC have increased by about 6%, reaching 69 million VND/m². Meanwhile, Binh Duong has seen a 5% increase, reaching 21 million VND/m².
However, not all areas are thriving. Former Ba Ria – Vung Tau remains quiet, with land prices dropping by 10% and interest declining by 13%. This indicates that investment is becoming more selective, favoring areas with well-developed infrastructure and clearer price growth potential in the near future.
A survey by Batdongsan.com.vn reveals that over 60% of real estate agents in HCMC believe the market will continue to grow in Q4/2025, with 17% expecting strong growth. Apartments remain the most promising segment, followed by private houses and land plots.
New apartment projects continue to concentrate in the outskirts of HCMC, such as former Thu Duc, Thuan An, and Di An, with a total supply of tens of thousands of units. Prices range from 40–60 million VND/m² in peripheral areas and 80–120 million VND/m² in Thu Duc, highlighting clear segmentation based on location and product quality.
According to Dinh Minh Tuan, Regional Director of Batdongsan.com.vn in the South, increased public investment, the completion of Ring Road 3, the HCMC – Moc Bai Expressway, and administrative merger announcements are creating strong momentum for HCMC and its surrounding areas.
“After a period of observation, HCMC is rebounding strongly, with improved supply and liquidity. The return of buyers will be a crucial factor in sustaining the market’s recovery in the coming quarters,” Tuan commented.
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