Investors Flock to Ho Chi Minh City for Condos, Setting New Price Benchmarks with Record High of VND 222 Million per Square Meter

The Ho Chi Minh City real estate market is entering a distinct recovery phase after a prolonged period of stagnation, marked by rising sales prices and renewed investor interest.

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According to Mr. Đinh Minh Tuấn, Regional Director of Batdongsan.com.vn in the Southern region, recent events have highlighted a significant surge in Ho Chi Minh City’s real estate market. Following the announcement of administrative unit mergers, the city witnessed a robust rebound, with average asking prices soaring to 99 million VND per square meter—the highest in two years. Concurrently, the interest index for property sales reached a new peak, reflecting optimism and anticipation for a new growth cycle in the market.

In Q3 2025, the apartment segment demonstrated positive momentum. In the former Ho Chi Minh City area, the average selling price reached 72 million VND per square meter, a 35% increase from early 2023. Similarly, the former Binh Duong area saw a 30% rise to 41 million VND per square meter. Interest levels in these areas grew by 19% and 48%, respectively, indicating a resurgence in both real demand and investment. Conversely, the former Ba Ria – Vung Tau area, despite slight price increases, failed to attract new demand, highlighting a stark contrast among satellite localities.

Within Ho Chi Minh City’s urban core, high-end apartments in District 1 maintained the highest prices at approximately 222 million VND per square meter, a 39% increase over two years. Notably, Thu Duc City emerged as a bright spot, with apartment prices rising 32–48% since early 2023, particularly in Districts 2, 9, and central Thu Duc. Its integrated infrastructure, modern urban planning, and role as a “city within a city” have positioned Thu Duc as a new growth hub, attracting substantial mid- to long-term investment.

In the former Binh Duong and Ba Ria – Vung Tau areas, notable shifts were observed. Apartment prices in Vung Tau rose 12% to 45 million VND per square meter, while Thuan An and Di An saw increases of 6–8%. Notably, Thu Dau Mot recorded the highest rental yield in the region at 5.1%, double that of the former Ho Chi Minh City. This trend suggests that investment capital for rental properties is gradually shifting to neighboring areas with softer prices and more attractive real returns.

Regarding the total supply of apartments in ongoing projects, outlying areas remain the primary drivers. Thuan An and Di An lead with over 13,000 new units each, priced between 40–60 million VND per square meter. Thu Duc City offers approximately 11,800 units, with higher prices ranging from 80–120 million VND per square meter. The concentration of supply along strategic transportation routes such as Ring Road 3, Ring Road 4, and metro lines underscores the trend of urban decentralization and satellite city development.

Meanwhile, the land plot segment in the former Ho Chi Minh City and Binh Duong areas has rebounded after several stagnant quarters. Average land prices in the former Ho Chi Minh City rose by 6% to 69 million VND per square meter, while the former Binh Duong area saw a 5% increase to 21 million VND per square meter compared to Q2 2025.

Land plots and apartments show strong price growth.

In contrast, the former Ba Ria – Vung Tau area remains relatively quiet, with prices dropping 10% and interest declining by 13%. This disparity highlights a preference for areas with ample land reserves, completed infrastructure, and convenient connectivity to city centers. The former Binh Duong area stands out as the fastest-recovering satellite, benefiting directly from Ring Road 3.

Mr. Đinh Minh Tuấn observes that Ho Chi Minh City’s market, after a period of observation, is rebounding strongly. Improved supply and rising liquidity reflect both investment capital and genuine housing demand.

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