Modest sales amidst limited inventory and constrained new supply

• In Q1 2025, the high-end apartment market recorded only 118 successful transactions. Soft launches from reputable projects that have attracted significant market interest, such as the next phase of Eaton Park and Lancaster Legacy, are eagerly awaited.
• RBL recorded 29 successful transactions. Phase 2 of L’Arcade continued to demonstrate strong performance with 100% of units sold. Primary inventory remained limited and at high unit values that are difficult for most buyers to access.

Supply remains modest amid significant changes in Vietnam’s administrative structure

• High-end apartment supply recorded modest numbers in Q1 2025, with 82 new launches from Kieu by Kita (CBD Fringe). Pre-launch activities remained dynamic, with notable projects including Lancaster Legacy (Trung Thuy) and Opus One (VinHomes).
• RBL supply recorded 18 new units from L’Arcade 2 (Phu My Hung). The market witnessed developers partnering with distribution agents to prepare for Q2 large-scale projects launches, including The Global City’s Sola (by Masterise Homes) and FORESTA (Keppel, Khang Dien).

Stable price growth persists as ultra-luxury completion boosts HCMC’s completed-property values

• High-end apartment primary prices rose 2.0% q-o-q to USD 5,104 per sqm. Notably, Q1 recorded the handover of 630 units from Grand Marina (an ultra-luxury project), resulting in a significant increase in completed-home prices by 5.7% q-o-q, reaching USD 3,866 per sqm.
• Landed property primary prices rose 1.4% q-o-q and 6.6% y-o-y to USD 5,155 per sqm, while the secondary market grew 1.3% q-o-q and 4.0% y-o-y. Steady price growth in both markets showed strong investor confidence in this property type.

Outlook: Investor confidence surges in HCMC as upcoming infrastructure improvements signal market rebound

• In 2025, HCMC expects 5,500-6,000 new high-end apartments and 1,300 RBL units to launch. Major infrastructure completions and HCMC’s efforts to resolve legal hurdles for 22 key projects are expected to stimulate the market in the coming quarters.
• While HCMC’s market is dominated by high-end housing and lacks affordable options, more lower-priced projects are expected in outer districts in 2025. Attractive sales policies that stimulate buyer demand are likely to continue in the coming period.