According to Avison Young’s Q3 2025 report, Ho Chi Minh City’s apartment supply continues to grow with the launch of Trellia Cove, offering over 800 units ranging from 2–3 bedrooms and 54–170m² in size. This marks the next phase of Mizuki Park, a collaboration between Nam Long and Japanese partners.
Alongside this new supply, the market remains buoyant with established projects in prime locations, such as The Prive (Dat Xanh), Lumière Midtown (Masterise Homes), and Kieu by KITA (KITA Group), maintaining strong demand in the high-end segment.
Additionally, domestic and international investors are showing interest in key land plots. The auction of 3,790 An Khanh resettlement apartments has attracted major players like Son Kim Land, Sunshine Group – DIA, and Bcons, potentially impacting regional supply.
On the demand side, buyers are increasingly cautious, avoiding leveraged loans despite low interest rates. Investment trends are shifting toward stable cash-flow properties in densely populated, job-rich areas. This reduces short-term speculative demand while increasing genuine occupancy and rental needs, prompting developers to adopt flexible, transparent sales policies and enhanced financial support.
In Q3 2025, HCMC’s apartment market saw primary prices rise by 5–8% on average, particularly for newly launched projects.
Nam Rach Chiec (former An Phu, District 2) has emerged as a high-end battleground, with major projects launching simultaneously. Eaton Park leads with an average price of 213 million VND/m², solidifying its luxury status. Palm City is set to unveil a new high-rise next quarter, priced at 250–300 million VND/m². Keppel Corporation’s divestment to Gateway Thu Thiem’s parent company further boosts the project’s appeal. The Global City’s CT5 tower, located along the canal and water music axis, matches Eaton Park’s pricing, targeting elite buyers.
Overall, competition in Nam Rach Chiec is intensifying as developers focus on luxury and ultra-luxury segments, setting a new price benchmark of 200–300 million VND/m² and positioning the area as HCMC’s new upscale residential hub.
Scenarios for the Condominium Market
Avison Young forecasts that Vietnam’s apartment market is entering a pivotal phase with significant shifts. After a slowdown, this segment is expected to dominate the real estate market in 2025–2026, but with pronounced polarization.
Real demand remains strong, while investment is becoming more selective. Projects with central locations, completed infrastructure, clear legal frameworks, and reputable developers continue to see steady liquidity. Conversely, those in remote areas, lacking amenities, or overpriced relative to buyer affordability will struggle.
Key trends include a focus on suburban and satellite cities as central land becomes scarce and development costs rise. Accelerated ring roads, highways, and metro projects will support these areas. Multifunctional apartments like studios, dual-key units, and live-work spaces are gaining popularity, reflecting lifestyle changes among young professionals and expats.
Smart technology and management are becoming essential. Projects integrating PropTech, IoT, and intelligent building systems enhance resident experiences and secondary market value. Sustainability is also critical, with buyers prioritizing eco-friendly, energy-efficient designs and comprehensive amenities.
Legal frameworks and policies are pivotal. The 2026 land price schedule, tax regulations, and project procedures will directly impact development costs and apartment prices. Transparent, compliant projects will attract capital and buyers, while legally troubled ones may exit the market.
Avison Young outlines two scenarios: a slow recovery with moderate price growth and deep polarization, or a rapid rebound in 2026 if legal and credit policies are streamlined, particularly in suburban areas and industrial provinces.
Regardless, challenges persist: legal risks, financial pressures, localized overheating, and intense competition. Developers and buyers must prioritize quality and real value, favoring projects with strong fundamentals.
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