Strong pre-sale activities sustain Q1 2026 demand

• The High-end Apartments market recorded 1,447 successful transactions in Q1 2026, dominated by premium projects in prime locations within township developments in eastern HCMC, buoyed by robust pre-sale activity.
• Activity was anchored by two key projects: the Lumiere Midtown (The Global City), officially introduced to the market this quarter, and the subsequent phase of the The Beverly_Opus One (Vinhomes Grand Park). Transactions concentrated in the luxury segment, with unit prices ranging from USD 4,500-5,500 per sqm.

New supply concentrate in Luxury segment from major integrated developments

• In Q1 2026, High-end Apartments new supply recorded 1,338 units, down 26.7% q-o-q, but  demonstrating continued market activity compared to last year. Supply was predominantly derived from the launch of entire Lumiere Midtown project by Masterise Group and the introduction of a new tower at The Beverly_Opus One within Vinhomes Grand Park.
• The quarterly supply decline reflects seasonal Lunar New Year patterns, as developers typically focus Q1 resources on marketing initiatives to position projects for Q2 launches.

Geopolitical uncertainty and rising interest rates and inflation will likely dampen transaction activity

• Primary High-end Apartment prices increased 2.0% q-o-q and 1.9% y-o-y to USD 5,202 per sqm, driven by premium segment pricing in new launches combined with annual price increases for projects at the handover stage.
• Secondary selling prices demonstrated steady growth at 3.0% q-o-q and 9.8% y-o-y, mirroring the primary market trajectory as newly launched projects continue to set new price benchmarks.

Outlook: 2026 demand is expected to soften amid a recovery pipeline as macroeconomic headwinds weigh on buyer sentiment

• The High-end Apartments market anticipated 9,000-9,300 new units in 2026, with notable launches from leading developers including VinGroup and Masterise Group.
• However, ongoing geopolitical uncertainty and upward pressure from rising interest rates and elevated inflation may temper purchasing activity among both investors and owner-occupier.