Real Estate

Ho Chi Minh City’s Largest Coastal Urban Area Unveiled: Can Gio Land Prices Skyrocket to Fever Pitch

The surge in investment into Ho Chi Minh City’s largest coastal metropolis has significantly impacted land prices in surrounding areas. The market now sees a trend where investors are eager to purchase at listed prices, yet landowners often retract their offers to hike prices further.

Administrator

23 October, 2025

Land Prices Around the Coastal Mega-City Double

In recent days, information about the upcoming launch of residential products at the Can Gio Coastal Tourism Urban Area (commercially known as Vinhomes Green Paradise), Can Gio Commune, Ho Chi Minh City, has been leaked by many brokers. The market has begun to see subdivision diagrams and price lists for the project’s first phase.

The launch of the largest coastal mega-city in Ho Chi Minh City has immediately attracted attention not only from local investors but also from those in the northern provinces.

Speaking to reporters, Mr. Truong – Director of a real estate trading floor based in An Khanh Ward, Ho Chi Minh City – shared that over the past month, his company’s staff have taken dozens of clients to survey the mega-project in Can Gio. Among them, many were from Hanoi.

“Other agencies are also racing to take clients to visit the project. In the past five years, the Can Gio real estate market has never received such attention from investors,” Mr. Truong said.

Current construction status of the largest coastal mega-city in Ho Chi Minh City. Photo: Anh Phuong

The investment wave into Vinhomes Green Paradise has also caused land prices in surrounding areas to rise rapidly. Surveys show the most significant increase in land plots in Can Gio Commune, especially those near the project.

For instance, a 900m² plot in Can Gio Commune, with a 20m beachfront, is being offered by the owner at 62 billion VND, equivalent to 69 million VND/m².

Another plot, nearly 600m² in the Phuoc Hung residential area, Can Gio Commune, is listed for sale at 33 billion VND (approximately 55 million VND/m²). Nearly half of the area is long-term cropland. According to brokers, this price has doubled compared to the same period last year.

Further from the project, a 600m² plot with a dirt road frontage in An Thoi Dong Commune – including 300m² of residential land – is listed at 11.5 billion VND, around 19 million VND/m². This price has increased by 30%–40% since the end of last year.

‘Landowners and Buyers Bargain Relentlessly’

Discussing the largest coastal mega-city in Ho Chi Minh City, Mr. H. – a real estate broker operating in Can Gio – noted that compared to when the project began in late April 2024, the launch information is now clearer. Many real estate agencies are preparing to accept reservations.

According to Mr. H., the influx of investors into Vinhomes Green Paradise has significantly impacted the surrounding land market. Searches have surged, especially in small residential areas with detailed 1/500 planning.

In reality, many investors are seeking land in existing residential areas, driving prices up. However, landowners often back out or raise prices further, leading to fewer successful transactions.

“In one case, a landowner listed a plot at 90 million VND/m², and a buyer offered 88 million VND/m². When the buyer agreed to pay the full 90 million VND/m², the landowner raised the price to 95 million VND/m²,” Mr. H. recounted.

Mr. H. believes the Can Gio land market is entering a new cycle, distinct from the 2020 investment wave. Back then, investors bought indiscriminately, from garden land to land without deeds. Now, investors are more cautious and selective.

Statistics from Batdongsan.com.vn show that in Q3/2025, Can Gio land prices doubled compared to the same period last year and increased by about 40% since the beginning of the year. Demand for land in this area has also surged.

According to DKRA Group, compared to 2017, Can Gio land prices have risen 5–7 times; specifically, compared to the same period last year, the increase ranges from 100%–150%.

Mr. Dinh Minh Tuan – Director of Batdongsan in the Southern region – commented that the rapid rise in Can Gio land prices is primarily due to expectations of benefiting from the coastal mega-city and proposed regional infrastructure projects.

Overall, Can Gio land prices are rising faster than anticipated. However, investing in land here is a long-term endeavor; investors entering now may struggle to achieve short-term profits.

Anh Phuong

– 05:45 23/10/2025