Market rebounds with strong demand following Lunar New Year holiday period in the previous quarter

• The High-end Apartments segment recorded 1,302 successful transactions in Q3 2025. Project clusters concentrated in the Eastern area, continued to witness notable new developments. Specifically, The Privé project (Dat Xanh Group) launched Phase 1 with four apartment towers and achieved sold-out status for over 1,000 units within three days of launch.
• Key factors driving buyer interest in this period include comprehensive project landscape, strategic location and FOMO (Fear of Missing Opportunity) psychology, as buyers are concerned prices will continue to escalate.

New supply shows strong improvement compared to the previous quarter, with the majority come from domestic developers

• In Q3 2025, High-end Apartments new supply recorded 1,240 units, primarily from new projects that reached the sales purchase agreement phase, such as The Privé (Dat Xanh Group), The 9 Stellar (SonKim Land).
• Additionally, this quarter also recorded notable soft-launch activities, with booking activities from new projects by reputable developers, such as Eaton Park_Phase 3 (Gamuda Land) and The Global City_Lumiere Midtown (Masterise Homes).

Primary prices decreased slightly as new supply was located farther, while secondary prices maintained stable growth momentum

• Primary High-end Apartment prices declined 0.2% q-o-q but increased 5.3% y-o-y to USD 5,065 per sqm. The quarterly decrease reflected new peripheral projects like The 9 Stellar_Alta Height (Thu Duc) with competitive pricing, while established primary projects maintained steady 1.0-3.0% q-o-q growth.
• Secondary prices rose 1.9% q-o-q and 6.7% y-o-y, demonstrating consistent buyer demand. Capital values for completed projects reached USD 3,999 per sqm, advancing 1.8% q-o-q and 10.8% y-o-y.

Outlook: Market recovery momentum continues with notable infrastructure projects progressing positively

• About 5,000-5,500 High-end Apartments are expected to enter the market in 2025. Infrastructure developments being accelerated such as An Phu interchange and Ring Road 3 will be the market driver in this year.
• . Future supply will continue to come from prominent developers in the market, with anticipated projects such as The Privé_Phase 2 (Dat Xanh Group), The Global City (Masterise Group), and Lancaster Legacy (Trung Thuy).