Apartment prices in downtown HCMC have nearly tripled over the past decade amid sustained demand and limited new supply, property listing platform Batdongsan said in a report.
The average price rose from VND31 million (US$1,175) in 2015 to VND92 million this year, according to the report it released Tuesday.
The appreciation was second behind only land prices, which jumped 4.8 times.
As of the third quarter the average apartment price in the secondary market in District 1, where properties are most expensive, was VND413 million per square meter.
The prices of new units range from VND200 million to VND500 million, and are rising at 10-30% annually.
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Buildings in HCMC in October 2025. Photo by VnExpress/Quynh Tran |
Nguyen Quoc Anh, deputy CEO of Batdongsan, said “undersupply,” “excess demand” and a shortage of new inventory continue to drive up prices.
He said the city center, home to commercial, financial and services activities, a large workforce and extensive public transport infrastructure, naturally keeps property prices high even as supply struggles to keep pace with demand.
The central area is gradually expanding to Thu Thiem, expected to become an international financial center.
Analysts expect downtown real estate to attract investors for the next five to 10 years, though growth is expected to slow as prices in the old central zones have already reached high levels and supply remains limited.
But the expansion of the central area is generating new investment hotspots, creating early-entry opportunities.
