Real estate supply in Ho Chi Minh City will be abundant in the second quarter
Real estate supply in Ho Chi Minh City is expected to be more abundant and vibrant in the second quarter as a series of investors plan to launch new product baskets.
Last weekend, Gamuda Land held a kick-off event with the participation of more than 1,500 brokers from 35 real estate distribution agencies. This event is to prepare for the re-launch of sales at the Celadon City urban area project (Tan Phu, Ho Chi Minh City).
Celadon City is the first high-end urban area developed by Gamuda Land in Ho Chi Minh City, with a scale of 82 hectares divided into 4 main subdivisions. The subdivision opened for sale in this phase is Diamond Centery, with a scale of 746 completed apartments. In the first phase, the investor plans to offer about 200 apartments for sale, priced from 69 million VND per square meter.
In the South, Quoc Cuong Gia Lai opened for sale the 3rd phase of the Lavida Plus project (District 7). This sale has a scale of nearly 150 apartments, with an average price of 55-60 million VND per square meter, an increase of more than 10% compared to the selling price in the third quarter of 2024. Another project in the South area is also preparing to launch a new phase, Khai Hoan Prime (Nha Be), with a selling price of about 60-65 million VND per square meter, an increase of nearly 15% compared to the price recorded in the same period last year.
The East area continues to be the most vibrant market in Ho Chi Minh City with an abundant and diverse basket of goods. In Long Binh ward, Son Kim Land is preparing to open for sale more than 200 luxury apartments at The 9 Stellar project, with an expected selling price of 80 million VND per square meter (excluding taxes and fees).
After many delays, Thang Long Real is about to launch 400 apartments at the Fiato Uptown project, with an expected price of 55 million VND per square meter; Dien Phuoc Thanh opens the final phase of the MT Eastmark City project with prices starting at VND50 million per square meter; CT Group restarts sales for the Metro Star project (Thu Duc City) with new prices expected to increase by nearly 60% compared to the initial opening (from VND80 million per square meter)…
Other investors such as Kien A, Van Phuc, BCG Land, Dat Xanh, TTC Land, Khang Dien, Phu Long… are also preparing to launch new products.
Real estate in the eastern part of Ho Chi Minh City (Thu Duc City) with apartment projects, townhouses, land plots… February 2025. Photo: Quynh Tran
In general, after a somewhat quiet first quarter, from the second quarter onwards, the real estate market in Ho Chi Minh City will be more vibrant thanks to the appearance of many projects opening for sale (the supply comes from the next phase of existing projects and old apartments restarted).
According to forecasts from market research company JLL Vietnam, this year Ho Chi Minh City will have about 12,000 housing products launched, most of which will be launched in the second and third quarters. 80% of them are in the high-end segment, with prices above VND80 million per square meter.
Real estate consulting firm Avison Young Vietnam also said that from now until the end of the year, Ho Chi Minh City will have about 17 large and small projects for sale, with an expected supply of about 10,000-12,000 apartments. In the second and third quarters alone, the city may welcome about 6,000 apartments, 90% of which will be in the high-end segment, with prices from VND65 million per square meter or more.
