Ho Chi Minh City Downtown Condo Prices Surge 200% in a Decade

Speaking at the Ho Chi Minh City Real Estate Forum 2025 on November 18th, Mr. Nguyen Quoc Anh, Deputy General Director of PropertyGuru Vietnam, revealed that over the past decade, apartment prices in Ho Chi Minh City’s central area have surged by 197%. Townhouse prices rose by 168%, storefront properties by 134%, and land plot prices skyrocketed by 384%.

Apartment prices in the city center exhibit significant diversification, ranging from 115 to 450 million VND per square meter. Leading developers like Dat Xanh Group, Gamuda Land, and Masterise Homes are offering projects such as The Prive (120 – 150 million VND/m²), Eaton Park (150 – 200 million VND/m²), and Masterise Park Place (165 – 200 million VND/m²).

Mr. Quoc Anh also noted that Ho Chi Minh City shares many developmental similarities with the Seoul metropolitan area, encompassing Seoul, Incheon, and Gyeonggi-do.

Over 40 years ago, the Seoul region’s population density was approximately 14,000 people per square kilometer. The area had only 7.4 kilometers of metro lines and less than 100 kilometers of inter-regional highways. Similarly, Ho Chi Minh City currently has nearly 20 kilometers of metro lines and over 96 kilometers of highways, with a population density of just over 4,500 people per square kilometer. This indicates ample room for growth and development.

Since the 1990s, the Seoul region has aggressively invested in infrastructure development. Today, it boasts over 1,150 kilometers of metro and suburban rail lines, more than 1,000 kilometers of highways, and three ring roads totaling over 122 kilometers.

Ho Chi Minh City is currently accelerating the development of metro lines, highways, and ring roads.

“The robust infrastructure development in the Seoul region has contributed to the stable growth of its real estate prices. Similarly, as Ho Chi Minh City’s infrastructure connectivity improves, its property prices will naturally rise,” stated Mr. Quoc Anh.

According to this expert, apartments are in significantly higher demand compared to their supply ratio in Ho Chi Minh City. Specifically, while apartments account for only 28% of the supply, they represent 45% of the demand. In contrast, demand for townhouses and land plots remains much lower.

Echoing this sentiment, Mr. Dinh Minh Tuan, a Ho Chi Minh City-based real estate expert, observed that the luxury apartment segment (priced from 80 million VND/m² and above) is experiencing strong growth in both supply and buyer interest.

In Q3 2025, interest in luxury apartments in Ho Chi Minh City surged by 168% year-over-year, a notable increase amidst a cautious overall market.

“The market has witnessed several luxury apartment projects setting new price benchmarks. In the former District 1, some secondary projects reached approximately 413 million VND/m², while in the former District 2, prices hit around 314 million VND/m². Other projects typically range between 101 and 182 million VND/m². Apartment prices are rising due to strong real demand. Additionally, the high prices of townhouses have made them less accessible to the general population,” explained Mr. Tuan.