Luxury Apartments in Ho Chi Minh City Reach VND 450 Million per Square Meter
Data from Batdongsan.com.vn reveals that the apartment market in Ho Chi Minh City maintained its momentum in the first 10 months of the year. Despite accounting for only 28% of the national supply, central apartments attracted a staggering 45% of market interest, significantly outpacing other property types.
Notably, the luxury apartment segment (starting from VND 80 million per square meter) in central Ho Chi Minh City is experiencing robust growth in both supply and demand. In Q3/2025, interest in luxury apartments surged by 168% year-on-year—a remarkable increase amidst a cautious market.
Several luxury apartment projects have set new price benchmarks. In District 1 (old), some secondary projects reached approximately VND 413 million per square meter, while District 2 (old) recorded around VND 314 million per square meter. Other projects typically range between VND 101-182 million per square meter. Rising apartment prices are driven by genuine demand and high costs in the single-family home segment, which exceed many buyers’ budgets.
Specifically, Grand Marina leads with a peak price of VND 450 million per square meter, followed by The Opera Residence at VND 350 million per square meter, and The Metropole at VND 250 million per square meter.
According to Mr. Nguyễn Quốc Anh, Deputy General Director of Batdongsan.com.vn, between 2015 and 2025, central Ho Chi Minh City’s property prices surged across all segments, albeit unevenly. Land plots saw the highest increase at 384% (from VND 25 million to VND 121 million per square meter), followed by apartments at 197% (from VND 31 million to VND 92 million per square meter), single-family homes at 168% (from VND 56 million to VND 150 million per square meter), and townhouses at 134% (from VND 92 million to VND 215 million per square meter).
The rapid price escalation in land plots and single-family homes is straining central buyers financially, driving a shift toward high-rise apartments. These offer more affordable investment options while still meeting high living standards, amenities, security, and connectivity.
“Long-term, Thu Thiem isn’t just an extension of the central area but has the potential to become a rival economic and financial hub within 5-10 years, as infrastructure and financial projects mature. The emergence of a multi-centered network will transform urban operations, sustaining demand for high-quality housing,” he predicts.
Luxury Real Estate Poised for Continued Growth
He emphasizes that central real estate, including both the old districts and Thu Thiem, retains its unique appeal due to stable demand and direct infrastructure connectivity benefits. These factors ensure its resilience in the medium to long term, even during market adjustments.
Mr. Mauro Gasparotti, Senior Director of Savills Hotels Southeast Asia, attributes the long-term growth of luxury real estate to Vietnam’s rapid expansion of the wealthy demographic. The growing middle and upper classes are increasingly prioritizing lifestyle over mere homeownership, mirroring trends in developed markets like Singapore, Bangkok, and Dubai. This shift broadens the scope for premium property development.
Additional drivers include infrastructure and legal frameworks, which mitigate risks and expand growth opportunities. New highways, metro lines, and airports enhance connectivity between satellite cities, enabling luxury housing supply to extend beyond central areas. A clear legal environment fosters investment confidence and attracts long-term capital, boosting liquidity in the luxury segment.
The combination of strong demand, expanding infrastructure, and a robust legal framework positions Vietnam’s luxury real estate for sustained growth. This expansion from central cores to new areas reflects the market’s evolution toward regional urban standards, reshaping how developers approach product design, with a focus on premium living experiences, personalized services, and sustainability.
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