HCMC – The average primary apartment price in HCMC has climbed to over VND55 million per square meter, twice the level of five years ago. Some projects in the city’s east and south have topped VND80 million per square meter.
Market data shows that apartment prices in HCMC rose by 6% to 8% in the first eight months of this year compared to the same period in 2024. A similar trend was recorded in Hanoi City. Satellite urban areas such as the former provinces of Binh Duong and Ba Ria-Vung Tau, and Dong Nai Province also saw increases of 5% to 7%, reported the Vietnam News Agency.
The supply of mid-range and affordable housing has remained limited as most new developments target higher-end segments. Demand, however, is strongest for units priced between VND1 billion and VND2 billion.
Income growth has not kept pace with housing costs. Surveys showed young workers in industrial and service sectors earn VND12 million to VND18 million per month, leaving apartments priced at VND2.5 billion to VND3 billion beyond reach.
The Construction Ministry said the price-to-income ratio in HCMC and nearby provinces stands at 20 to 22 times, compared with the reasonable range of five to seven times.
