Real Estate

Unprecedented Price Surge for Once-Overlooked Condos in Ho Chi Minh City’s Urban Area

Nestled just a stone’s throw from Ho Chi Minh City’s bustling center, the Cát Lái Urban Area was once overlooked by homebuyers due to its dusty streets and heavy container traffic. However, in a remarkable turnaround, property prices in this neighborhood have skyrocketed to unprecedented levels, nearly doubling over the past three years.

Administrator

5 December, 2025

Nestled on the eastern edge of Ho Chi Minh City, near the bustling port complex, the Cat Lai residential area benefits from key arteries like Dong Van Cong and Nguyen Thi Dinh roads. These vital routes provide swift access to the Long Thanh – Dau Giay Expressway and the Thu Thiem Urban Area.

Despite its strategic location, the area has historically been overlooked by homebuyers due to the heavy daily traffic of container trucks servicing the port. Residents contend with dust, noise pollution, and frequent traffic congestion, particularly during peak hours when trucks and motorbikes converge, prolonging commute times. This has deterred many prospective buyers.

However, recent announcements regarding upcoming infrastructure projects—such as the expansion of Nguyen Thi Dinh and Dong Van Cong roads and the construction of a bridge to replace the Cat Lai ferry—have sparked a surge in the local housing market. Property prices have climbed to unprecedented levels.

One of the condominiums in Cat Lai Urban Area experiencing significant price increases. Photo: Anh Phuong

According to Nguyen Thanh Phu, a real estate agent specializing in Cat Lai condominiums, prices have nearly doubled over the past three years. Previously, units sold for VND 30-35 million/m²; now, they command VND 55-60 million/m². For instance, a 52m² apartment at CitiAlto currently fetches nearly VND 3 billion.

Smaller units at CitiEsto, though more affordable, are trading between VND 2.8-2.9 billion (approximately VND 52 million/m²), up from VND 20-26 million/m² at launch.

Even upcoming projects are seeing price hikes. A 60m² unit at CitiGrand now ranges from VND 3.3-3.5 billion (VND 55-58 million/m²), an increase of VND 500-800 million since pre-sales.

“When prices were lower, buyers hesitated due to traffic and dust concerns. Now, with prices soaring, finding affordable options like before is nearly impossible,” Phu notes.

Heavy container truck traffic is a daily sight on Cat Lai Road. Photo: Nguyen Hue

For townhouses, Nguyen Phuong Truc, another local agent, observes that while Cat Lai was once undervalued compared to similarly located areas in HCMC, prices have risen sharply. Townhouses on 100m² plots now rarely fall below VND 10 billion, with rates ranging from VND 100-130 million/m² based on location and condition. Premium compounds command even higher prices, marking an all-time high for the area.

Dương Minh Tiến, Deputy General Director of Danh Khôi Real Estate Services (DKRS), notes that despite its central proximity, Cat Lai has long been overlooked. “For years, property values here lagged relative to their prime location. Infrastructure limitations suppressed demand and price growth,” he explains.

Tiến attributes the recent surge to scarce mid-range housing supply in HCMC and accelerated infrastructure development, particularly the Cat Lai bridge project. “These factors have propelled Cat Lai’s market to new heights,” he concludes.

Anh Phương

– 05:45 05/12/2025