Over the past year, Ba Ria-Vung Tau has witnessed a wave of infrastructure development. Several key transportation projects have been promoted, including the Long Thanh International Airport, Bien Hoa-Vung Tau Expressway, Ben Luc-Long Thanh Expressway, and the beautification of Thuy Van coastal road in Bai Sau. These projects have created a new infrastructure foundation for the region.
Taking advantage of the completion of these strategic routes, the recovery of tourist arrivals, and the merger with Ho Chi Minh City, many large real estate companies such as Sun Group, TDG Group, and DIC have simultaneously announced large-scale resort projects. This has heated up the Ba Ria-Vung Tau real estate market in terms of both supply and price levels.
Blanca City leads with a rumored price of nearly VND one hundred million per square meter
The most notable project in the market at present is Blanca City (Urban Area on 3 February Road) developed by Sun Group. The project officially started construction on May 16 in wards 10 and 11, Vung Tau city. With a total area of more than 96 hectares and an investment capital of nearly VND 37 trillion, Blanca City is positioned as the “largest urban resort” in Vung Tau, integrating multiple functions such as high-rise apartments, low-rise villas, retail complexes, condotels, hotels, and a 19-hectare themed water park.
According to several listings on batdongsan.com.vn and Facebook brokerage pages, Blanca City has started booking its first phase. A fully furnished 32-square-meter one-bedroom apartment is priced at VND 3.5 billion, equivalent to VND 109 million per square meter. Another 68-square-meter apartment is offered at VND 6.4 billion, or about VND 94 million per square meter.
“The average rumor price is about VND 94 million per square meter. The rumor price is before walls, excluding VAT and discounts. Expected delivery in December 2027,” said a batdongsan.com.vn broker listing.
Some Blanca City project listings. Source: batdongsan.com.vn
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The Maris: Beachfront apartments from VND 72-78 million per square meter
Adjacent to Blanca City is The Maris Vung Tau, a project by TDG Group on a 23-hectare site on Chi Linh beach in Ward 10. The project has nearly 500 meters of beachfront, 192 villas, and 3 18-story towers providing nearly 1,700 apartments.
The Vega Polaris tower includes 539 condotel apartments, and according to batdongsan.com.vn listings, a 45-square-meter one-bedroom apartment here is priced at VND 3.2-3.5 billion, or about VND 72-78 million per square meter.
Several sales policies have been heavily promoted by brokers, including a deposit of only VND 350 million, 12-instalment payment, 60% bank loan support with a 0% interest rate for the first 18 months, and a rental commitment of VND 11-25 million per month, equivalent to a profit of VND 132-300 million per year.
Within the heart of The Maris project, the Alaric Tower has also entered the sales phase. A 49-square-meter apartment is priced at VND 3 billion, equivalent to about VND 61 million per square meter, slightly lower than the newer towers like Vega Polaris.
The Maris Vung Tau project under construction in Vung Tau. Source: TDG Group
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A series of projects push up the price level of resorts to a new threshold
Not only Blanca City and The Maris Vung Tau, but the city’s real estate market is also witnessing the simultaneous appearance of many large-scale resort projects, contributing to reshaping the price level in the southern coastal area.
On Thuy Van seaside road, one of the city’s main arteries, the Fivestar Poseidon project is expected to stand out with two 46-story towers. The project is oriented to become a complex of 5-star apartments and hotels integrated with a conference center. Although the official price has not been announced, the scale and location suggest that Fivestar Poseidon will not be out of the high-price trend that is spreading.
In Long Hai town, about a 20-minute drive from the center of Vung Tau city, Charm Resort Long Hai is also being offered for sale. A 42-square-meter one-bedroom apartment is priced from VND 2.7 billion, equivalent to VND 64 million per square meter.
Not far away, in Ho Tram, the Ixora Ho Tram project is being developed within the complex of The Grand Ho Tram Strip resort, and is currently taking reservations for 100% sea-view condotel apartments. A 50-square-meter one-bedroom apartment is offered for sale from VND 3.1 billion, equivalent to about VND 62 million per square meter, complete with furniture and a rental income commitment of 6% per year for the first four years.
Based on the listing data on batdongsan.com.vn, it can be seen that the price of resort apartments in Vung Tau is forming a new price level, where the range of VND 60-70 million per square meter is becoming more common, and the VND 100 million per square meter mark has appeared. This is rare in the past market and partly reflects investors’ expectations before the “boost” of infrastructure and the tourism growth potential of the region.
How expensive is the price of VND one hundred million per square meter compared to the old price level?
For a clearer view of the price increase in Vung Tau, we can compare it with projects that have been in operation in the city center. For example, The Song by An Gia Investment and Development Real Estate Joint Stock Company (HOSE: AGG), located in one of the prime locations of the city’s Bai Sau beach, currently has a popular selling price ranging from VND 35-43 million per square meter. Notably, the project’s price level has decreased by nearly 20% compared to the beginning of 2023, reflecting the adjustment trend of the resort and condotel segment in the context of a struggling overall market.
Not far from The Song is Vung Tau Pearl by Hung Thinh Corporation, with a price range of VND 35-38 million per square meter. Another high-end project, Fusion Suites, with a view of Bai Truoc beach and has been in operation since 2020, is currently sold at a price range of VND 56-65 million per square meter.
 The selling price of The Song project decreased by 20% compared to the beginning of 2023. Source: batdongsan.com.vn
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At an event in October 2024, Mr. Dinh Minh Tuan – Director of batdongsan.com.vn, said that up to 79% of customers buying resort apartments in Ba Ria-Vung Tau are from Ho Chi Minh City. Meanwhile, the proportion of local residents interested is only about 5%. According to Mr. Tuan, although Vung Tau attracts a large number of tourists, it lacks large-scale entertainment sites, does not have its own airport, and has not been strongly promoted in the international market. The average tourism cost here is only about VND 1 million per person, much lower than destinations such as Khanh Hoa (VND 4.5 million) or Da Nang (VND 3.7 million).
However, these limitations also open up significant development potential for resort real estate when key infrastructure projects such as the Bien Hoa-Vung Tau Expressway and Long Thanh Airport are completed, and the potential for price increases remains significant.
According to DKRA’s report, in the first quarter of 2025, Ba Ria-Vung Tau accounted for 19% of the condotel supply in the Southern region of Vietnam. Although demand was 2.9 times higher than in the same period, transactions were still concentrated in certain projects, while the rest remained quiet. DKRA forecasts that the condotel supply in 2025 will be similar to that of 2024, at around 2,500-3,000 units, mainly in Ba Ria-Vung Tau and Quang Ninh provinces.
– 12:00 19/06/2025
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