Real Estate

Flooding Persists, Yet Luxury Apartment Prices in Affluent Areas Hit $13,000 per Square Meter

Nestled in the heart of Ho Chi Minh City, this exclusive neighborhood boasts a wealth of luxurious amenities and an upscale living environment. However, with every heavy rainfall or high tide, its streets transform into rivers, revealing a stark contrast to its affluent reputation. Despite these challenges, property prices here remain among the most exorbitant in the city.

Administrator

12 November, 2025

Thảo Điền, nestled in the heart of Thu Duc City, is one of Ho Chi Minh City’s most prestigious residential areas, renowned for its affluent community and comprehensive amenities. Often referred to as the “wealthy enclave” of HCMC, Thảo Điền is home to high-income residents who enjoy a luxurious lifestyle.

The area boasts a well-developed transportation network, seamlessly connected to neighboring districts via Metro Line 1 and highways. With a cluster of renowned international schools, Thảo Điền attracts a large expatriate population, fostering a vibrant community of foreign residents. This cosmopolitan influence is evident in the proliferation of European and American-style restaurants, cafes, and shops.

What sets Thảo Điền apart from other upscale neighborhoods is its serene, nature-centric living environment. Bordered by the Saigon River on two sides, the area enjoys a cool, refreshing climate year-round, offering residents a tranquil retreat from the city’s hustle and bustle.

A glimpse of Thảo Điền’s affluent neighborhood. Photo: Anh Phương

The natural landscape and demographic profile of Thảo Điền have shaped its distinctive housing market. Alongside riverside villas and mansions, the area is dominated by high-end condominiums, catering to the sophisticated tastes of its residents.

However, despite its prestige, Thảo Điền is not without challenges. During heavy rainfall or high tides, major roads such as Xuan Thuy, Nguyen Van Huong, and Thao Dien often flood, transforming into temporary waterways.

Despite recurrent flooding, property prices in Thảo Điền remain among the highest in HCMC, reflecting its desirability and exclusivity.

In the condominium market, Nhu Quynh, a real estate agent specializing in Thảo Điền properties, notes that the area’s prime location and upscale environment have driven developers to focus on luxury apartments with premium pricing.

One standout project is Masteri Thảo Điền, which has seen consistent price appreciation over the years. Despite being a decade old, its units remain in high demand. “Initially priced at 55-65 million VND/m², many apartments now exceed 100 million VND/m². A 70m² unit is currently listed at 7.5 billion VND. Since the launch of Metro Line 1, price growth has become even more pronounced,” Quynh explains.

The Nassim Thảo Điền commands higher prices, averaging 130 million VND/m², while Thảo Điền Green leads the market with units priced between 160-240 million VND/m².

Flooding in Thảo Điền during heavy rain or high tides. Photo: Thanh Tùng

Rental prices in Thảo Điền are equally impressive, rivaling those in HCMC’s central districts. A two-bedroom apartment in Masteri Thảo Điền rents for 17-20 million VND/month, while a similar unit in Thảo Điền Green fetches 40-60 million VND/month.

For townhouses, Huu Binh, a seasoned real estate agent in Thảo Điền, advises that this property type is ideal for long-term residents rather than short-term investors. “While there is potential, buyers should not expect rapid price increases. Only properties with prime river views and large areas appreciate quickly,” Binh clarifies.

Townhouses in Thảo Điền currently range from 250-310 million VND/m², while villas command 200-350 million VND/m². A 200m² villa on Nguyen Van Huong Street is listed at 70 billion VND.

Anh Phương

– 06:00 12/11/2025