The real estate market in the Southwest still has a lot of room for development.

The Southwest region will be the "destination" for housing demand and investment capital shifting away from major cities like Ho Chi Minh City and Binh Duong .

The real estate market in the Southwest region of Vietnam still has much room for development.

The Southwest region of Vietnam will be the "destination" for housing demand and investment capital shifting away from major cities like Ho Chi Minh City and Binh Duong.

A "mild" market

Speaking about the real estate market in the Southwestern region of Vietnam, Mr. Nguyen Van Dinh, Vice Chairman of the Vietnam Real Estate Association and Chairman of the Vietnam Real Estate Brokers Association, assessed it as a relatively "calm" market compared to other markets nationwide. The market is essentially "new," has not yet experienced any "booms," and still has much room for development.

According to Mr. Dinh, real estate prices in the area are trending upwards. However, there is still much potential and room for further price increases.

According to data from the Vietnam Real Estate Brokers Association, in 2024, the Southwestern region of Vietnam saw the launch of 74 housing projects; including 10 new projects and 64 previously unsold projects. The number of units/plots offered for sale was 8,257, a 10% decrease compared to 2023. The total number of successful transactions was 2,775 units/plots, a 70% increase compared to the same period last year.

Primary supply has decreased due to many developers lacking confidence and/or not yet meeting the conditions to launch their projects. The supply mainly comes from previously unsold projects and apartment projects in Can Tho and Long An .

In terms of supply structure, apartments account for the highest proportion, followed by villas/townhouses, terraced houses, and finally land plots. Selling prices are relatively stable, with a slight upward trend of 5-10%.

Residential area in Hung Thanh ward, Cai Rang district, Can Tho city.

In the apartment segment, 8 projects were launched, offering approximately 3,000 units. A total of 1,700 successful transactions were recorded. Can Tho, Long An, and Dong Thap were the three localities with the largest supply of apartments in the region. After each sales launch, developers proactively increased selling prices by 4-5%. Primary market prices for commercial apartment projects in Can Tho were around 47 million VND/m2, while in Long An they were below 30 million VND/m2. Secondary market prices remained relatively stable.

Notably, unlike many other regions in the country, the Southwest region has historically focused primarily on affordable, low-cost apartments; there have been virtually no high-end apartments. This lack of luxury apartments is why Cara River Park, the first high-end luxury apartment project in the area to integrate numerous amenities, has been so well-received by the market.

Mr. Duong Quoc Thuy, General Director of Cara Group, said that in addition to customers in Can Tho and the Mekong Delta provinces, the company has recently completed more than 50 transactions with real estate investors in Hanoi, totaling over 150 billion VND. In the first quarter of 2025, the transaction situation is expected to remain positive. To date, the total transaction volume for Cara River Park products has reached approximately 70%; with selling prices ranging from 45-55 million VND/m2 accompanied by various incentives (without promotional policies, the selling price is from 43-47 million VND/m2). The target customers are those with stable incomes such as professionals, civil servants, and business owners.

Mr. Chau Thanh Binh, Head of the Legal Department and Member of the Expert Council of the Can Tho City Real Estate Association, believes that in the past, house and land prices were inflated to excessively high levels, essentially creating artificial prices. However, currently, real estate is at its truest value ever, without the situation of inflated prices due to multiple investments. Investors who have accumulated large amounts of inventory are now looking to sell some to alleviate their financial burden, resulting in reasonable selling prices. Therefore, this is the most opportune time to invest in real estate . From the perspective of homebuyers, this is also the most suitable time to establish a place to live.

In the villa/townhouse segment, 3,000 units were offered for sale, mostly existing inventory continuing to be released. Primary market prices remained stable. Secondary market prices increased slightly by 5-10%. The total number of successful transactions was 500. Transactions were mainly concentrated in Can Tho, Long An, and Kien Giang provinces.

In the land plot segment, the number of products offered for sale was 2,000, mainly existing inventory continuing to be offered for sale, a 30% decrease compared to 2023. The total number of successful transactions was 600. Transactions were mainly concentrated in Can Tho, Hau Giang, and Long An markets.

Currently, land plots in the Nam Long 2 residential project (Hung Thanh ward, Cai Rang district, Can Tho city) are priced at 35 million VND/m2. According to a representative from Nam Long's Can Tho branch sales office, the project was launched in November 2024 with 274 units; to date, over 80% of the units have been sold.

Specifically, in the inner city of Ninh Kieu district, Can Tho city, houses in the 2-3 billion VND price range are being offered for sale and traded most frequently. These are houses located in alleys 2-3 meters wide, with an area of ​​approximately 40-60 square meters, and with clear legal documentation.

There is still much room for development.

Mr. Duong Quoc Thuy noted that in 2025, the Vietnamese real estate market is witnessing many positive signs, creating a foundation for sustainable recovery and development. In particular, the legal framework is being perfected, with important laws such as the Housing Law, the Real Estate Business Law, and the amended Land Law officially effective August 1, 2024. This provides the market with a solid institutional foundation, helps remove bottlenecks, contributes to more transparent and stable operation, and builds investor confidence.

Alongside this, the economy is recovering strongly: Vietnam's GDP is projected to grow by 7.09% in 2024, with a target of 8% growth in 2025 and a per capita GDP of over $5,000. This growth provides significant support for the real estate sector: increased income, increased demand for housing; stimulation of capital flows into real estate; positive impact on credit and interest rate policies; and increased confidence in the market.

In the Southwestern region of Vietnam, infrastructure is receiving significant investment, with many key transportation infrastructure projects being implemented (Can Tho - Ca Mau expressway, Chau Doc - Can Tho - Soc Trang expressway, Rach Mieu 2 bridge, etc.), facilitating regional connectivity and thereby increasing the value of real estate in the area.

"As we can see, the overall picture is bright, with driving forces opening up great opportunities for investors, businesses, and homebuyers, creating strong momentum for the development of the real estate market, including Can Tho City and the Southwest region in the coming time," Mr. Duong Quoc Thuy shared.

With an optimistic outlook, Mr. Nguyen Van Dinh predicts that the Southwest region will be the "destination" for housing demand and investment capital shifting away from major cities like Ho Chi Minh City and Binh Duong... The supply of real estate in the region will improve, estimated to reach over 20,000 units by 2025, mainly concentrated in Can Tho City and Long An. In particular, Can Tho will accelerate its development to become a centrally-governed city, thus, the Can Tho real estate market will gradually become more attractive to customers/investors.

According to Mr. Dinh, real estate prices in the area continue to be differentiated. Liquidity and prices continue to improve for subdivided land plots with title deeds and for products with the potential to generate cash flow, such as apartments and townhouses.

The trend is towards developing high-end housing projects that prioritize sustainability and integrate technology into management and operation.

Projects with complete legal documentation, developed by reputable companies, will have a competitive advantage as investors increasingly focus on legal aspects and the true potential of a project.

“The real estate markets in Can Tho, Hau Giang, Long An, and An Giang are attracting investment capital into land plots and housing products, especially in areas near expressways and industrial park projects. Phu Quoc remains a ‘hot spot’ for tourism and resort real estate , but areas like Ha Tien and Nam Du are also receiving more attention due to their tourism development potential,” according to Mr. Dinh.

Source: https://baodautu.vn/batdongsan/thi-truong-bat-dong-san-tay-nam-bo-con-nhieu-du-dia-phat-trien-d256850.html