Affordable Real Estate Under $5 Billion in Ho Chi Minh City Still Abundant

Affordable Housing Scattered Across the Market

Fresh data from the real estate platform Nha Tot reveals positive signals, with tens of thousands of listings for homes priced under 5 billion VND in Ho Chi Minh City.

Specifically, Nha Tot’s system recorded over 20,000 listings for properties and apartments priced below 5 billion VND in Ho Chi Minh City as of November.

Since late 2024, the Ho Chi Minh City real estate market has faced an alarming trend: affordable apartments priced around 3 billion VND are becoming increasingly scarce. Rising land prices, construction costs, and growing housing demand have made this segment a luxury.

This phenomenon is putting significant pressure on the Ho Chi Minh City real estate market. Entering 2025, with the market’s recovery and the surge in property prices since the beginning of the year, homes under 5 billion VND have become nearly as rare. Despite relaxed credit conditions and favorable loan packages, observers note that young buyers struggle to purchase homes primarily due to high prices relative to their budgets.

However, new data from the Nha Tot real estate platform reveals positive signals, with tens of thousands of listings for homes priced under 5 billion VND currently available. This indicates that affordable housing options still exist but are scattered, requiring more effective search and connection solutions to reach buyers with genuine needs.

“When considering housing in existing residential areas, the platform’s data shows this segment maintains a significant supply. These figures indicate that affordable options are not disappearing but are widely dispersed, necessitating more effective search solutions to help buyers find suitable properties,” a Nha Tot representative stated.

In the Southern region, the apartment segment in old Binh Duong leads both in supply and liquidity, with 4,050 units—three times more than old Ho Chi Minh City. The absorption rate is around 5,000 units, compared to 1,500 in old Ho Chi Minh City.

Regarding prices, primary prices rose slightly by 2% in major cities, while secondary prices (resale) saw significant growth, most notably in Binh Duong (up 9%) and Ho Chi Minh City (up 5%). Investment is heavily focused on 2-bedroom apartments priced between 2–3 billion VND in Ho Chi Minh City and 1–2 billion VND in satellite areas.

Old Long An has become a primary supply hub, with nearly all newly launched low-rise housing concentrated here, totaling 1,460 units. However, liquidity dropped by 19–36%, indicating that capital has not yet fully returned.

A notable trend in Dong Nai is the 50% increase in rental prices for low-rise housing within projects and a surge in listings, yet rental demand plummeted by a record 45%, signaling short-term oversupply and price speculation risks.

Land prices in planned projects in Binh Duong and Dong Nai rose sharply by 31–37% compared to the previous quarter, despite a 22–55% drop in interest. Meanwhile, land outside planned projects in Dong Nai had to reduce prices by 29% to attract buyers.

Supply Decline

Nha Tot’s Q3/2025 Hanoi real estate report shows apartment demand remained stable, with a slight 1% decrease in searches compared to the previous quarter. However, supply is significantly shrinking, with listings down 22% quarter-on-quarter.

Investment is primarily focused on 2-bedroom apartments priced between 3–5 billion VND. The Western area of Hanoi (including Bac Tu Liem, Tay Ho, Cau Giay, Nam Tu Liem, and Thanh Xuan) continues to lead in both supply and interest, accounting for 56% of total listings.

Contrary to slowing sales, Hanoi’s rental apartment market is recovering. Tenant searches increased by 8% quarter-on-quarter, with average rents stable at around 12 million VND/month for standard 55–95m² units. Serviced apartments saw a 34% rise in demand, driven by needs in office hubs like Cau Giay, Dong Da, and Nam Tu Liem.

In Hanoi, non-project low-rise housing (townhouses/private homes) saw the sharpest supply decline among the five key markets, with listings down 21%.

However, this scarcity drove prices up 6% quarter-on-quarter, surpassing 200 million VND/m²—nearly double Ho Chi Minh City’s average of 100 million VND/m². Supply is concentrated in the Western (46%) and Central (31%) areas.

Meanwhile, low-rise housing within projects is experiencing a pronounced slowdown, with listings down 36% and interest down 19%. Rental prices in this segment also dropped by 6% due to selective demand.

According to Nha Tot, Hanoi’s land segment faced its biggest challenge in Q3, with interest down 55% quarter-on-quarter—the lowest in a year—while prices rose 16%, staying above 50 million VND/m². Non-project land (private land) remains expensive at around 80 million VND/m² despite reduced interest.

Despite market slowdowns, investor interest remains focused on moderately priced land plots. In Hanoi and Ho Chi Minh City, properties priced between 3–5 billion VND with areas under 100m² are preferred. In suburban areas, plots priced between 1–2 billion VND with areas of 100–150m² are the most popular.