$3,800 per square meter becoming new normal for HCMC apartments

Over half of the 5,500 apartments launched in HCMC last quarter were priced at VND100 million (US$3,800) per square meter or higher as the high-end segment remained dominant.

The prices ranged between VND30 million and VND200 million, with units in downtown HCMC being the most expensive, according to property services firm One Mount Group.

The average price was up 21% to VND96 million, it reported also including data from Ba Ria-Vung Tau and Binh Duong, two provinces that merged with HCMC in July.

One Mount Group CEO Tran Minh Tien said absorption rates were above 80%, reflecting the sustained appeal of residential real estate in major urban areas.

Vo Hong Thang, deputy general director of property service firm DKRA Group, said the primary reasons for the sharp increase in prices are the high costs of land, construction materials and labor, with land-use fees accounting for a significant portion.

Not surprisingly, supply is concentrated mainly in peripheral areas like Binh Duong and Nha Be since prices are cheaper.

Infrastructure development and expanded urban planning also directly impact land and apartment prices, driving them upward despite increased supply, Thang said.

One Mount Group forecast primary apartment supply to reach 28,000 units this year and 23,000 in 2026, with Binh Duong accounting for 65% and 50%.

By Phuong Uyen – VnExpress.net – October 11, 2025