HCMC – HCMC is expected to have 10,000 new condo units in 2025, nearly doubling the total number this year.
While around 3,000 new condos are to be launched into the city market in the fourth quarter of 2024, the total number of newly built units on offer this year is projected at about 5,000 units, according to a report by CBRE Vietnam.
However, this figure marks a decline in supply compared to previous years, as several large-scale projects have postponed their launches until 2025.
In the low-rise housing segment, over 300 new units are expected to be launched in the fourth quarter, bringing the yearly total to nearly 600 homes—a significant jump from just 40 units in 2023.
These new offerings are primarily located in the eastern and western parts of the city, where prices are anticipated to be more affordable than the average market rate.
Demand in the final months of 2024 and into 2025 is predicted to focus on affordable home projects with transparent legal processes. Trang Le, senior director of Consulting and Research at JLL Vietnam, noted that these types of projects will likely drive sales for upcoming developments.
Although prices for new projects remain high, developers are expected to offer more promotional strategies to attract buyers. In the third quarter of 2024, the high-end condo market saw 1,059 units sold, primarily from two projects: Aurora in District 8 and Eaton Park in Thu Duc City.
Other projects, including D-Homme in District 6, D-Aqua in District 8, and Lavida Plus in District 7, are set to resume sales, with price increases of 10-30%.
