DKRA Consuiting's Q2-2025 report in Ho Chi Minh City and surrounding areas shows a major change in supply, demand and real estate prices in a positive direction.
Apartment supply increases, demand changes positively
According to Mr. Vo Hong Thang - Deputy General Director in charge of DKRA Consulting and Investment Director of DKRA Group, in the second quarter of 2025, the apartment segment, primary supply increased by 40% over the same period, reaching about 20,583 units. Binh Duong (old) and Ho Chi Minh City (old) accounted for 79.6% of the total supply. Market demand also changed positively before the move to merge provinces and cities, with demand 3.3 times higher than the same period.
Notably, primary selling prices increased by about 3% - 8% compared to the previous quarter, concentrated in the mid-range and high-end segments. Secondary liquidity increased generally by 4% - 11% compared to the first quarter of 2025.
In particular, the townhouse and villa segment also had many bright spots, when supply and primary consumption increased by 64% and 5.9 times respectively over the same period.
New supply has recovered strongly, increasing 6 times compared to the same period, mainly concentrated in Long An (old), accounting for more than 91%. Reason: Many investors have launched strong sales, including Vingroup Corporation. Primary prices increased slightly by 2%, while secondary prices increased by about 6% compared to the first quarter of 2025.
According to Avison Young Vietnam, the apartment segment in the two major markets of Hanoi and Ho Chi Minh City continues to recover. Accordingly, in Hanoi, the average primary price reached 80.9-130.5 million VND/ m2 . In Ho Chi Minh City, the primary price level increased by 4-6% for new projects and 2-4% for existing projects. The old Binh Duong market is bustling with a series of projects priced at 40-50 million VND/m2 . This price has increased significantly compared to the period 2018-2020 and is on an upward trend.
35% of new apartment supply is in the affordable segment
Knight Frank Vietnam also reported positive signs in both the apartment market in Ho Chi Minh City and Hanoi in the first 6 months of 2025. Accordingly, the average primary asking price in Ho Chi Minh City increased by 10% compared to the previous year. New supply in Ho Chi Minh City reached about 1,500 with 35% of new supply classified in the affordable segment.
Housing prices in Hanoi are rising rapidly, while transactions in Ho Chi Minh City are bustling.
In particular, the average selling price in Hanoi increased by 6% quarter-on-quarter and 26% year-on-year. Hanoi recorded about 7,100 new apartments, up 129% quarter-on-quarter but down 16% year-on-year.
There was a surge in apartment supply in Ho Chi Minh City in the second quarter, with around 2,300 apartments sold in Ho Chi Minh City, up 230% quarter-on-quarter and 15% year-on-year, reflecting a relatively optimistic buyer sentiment. Hanoi recorded 7,400 apartments sold, nearly three times the previous quarter, although still down 23% year-on-year.
Reasons why Hanoi real estate prices increase faster than Ho Chi Minh City
According to Mr. Son Hoang, Deputy Director of Valuation and Consulting at Knight Frank Vietnam, after the merger, the apartment market in Ho Chi Minh City may need time to adapt to legal and planning updates, which are expected to slow down the project approval process. With limited supply, upcoming luxury projects are expected to drive a 5-7% increase in the luxury segment.
Mr. Tran Minh Tien, Director of the Center for Market Research and Customer Understanding of One Mount Group, commented that the difference in supply structure and product segmentation is the main reason why real estate prices in Hanoi increased faster than in Ho Chi Minh City in the recent period.
Specifically, in the second quarter of 2025, the Hanoi market recorded a recovery after a slowdown at the beginning of the year, with 7,800 new apartments opened, nearly double that of the previous quarter. The number of transactions also increased accordingly, reaching 7,800 units.
In Ho Chi Minh City, One Mount Group recorded limited new supply, but the consumption exceeded supply, reaching 2,900 units, up 72% over the same period, including products that were previously launched.
In Hanoi, the selling price in the primary market is about 80-90 million VND/m2, up 5.6% compared to the previous quarter and skyrocketing 24% compared to the same period last year, contributing to pushing up the average selling price.
However, no mid-range projects were launched in Hanoi this quarter. Apartments with "softer" prices, under VND65 million/m², are only scattered in the eastern urban area of Hanoi or neighboring areas.
The average apartment price in Ho Chi Minh City is around VND89 million/m2, almost unchanged from the previous quarter, with insignificant fluctuations and 15% higher than the same period.
Source: https://nld.com.vn/gia-nha-dat-ha-noi-van-tang-nong-tp-hcm-soi-dong-giao-dich-sau-sap-nhap-196250712110052088.htm
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