The real estate market in Ho Chi Minh City is on the way to recovery, but there is an imbalance between supply and demand, especially the shortage of affordable housing and social housing - Illustration photo: NGOC HIEN
Ho Chi Minh City Real Estate Association (HoREA) has just sent a report to the Ho Chi Minh City People's Committee on the Ho Chi Minh City real estate market in the first 6 months of the year before the local merger.
According to HoREA, the housing market in Ho Chi Minh City in 2025 will continue to lack project supply, leading to a lack of supply of housing products.
Since 2021, in new housing projects in Ho Chi Minh City, there is no longer any affordable commercial housing with a selling price of less than 30 million VND/m² and there is also a great shortage of social housing.
In contrast, the high-end housing segment from 2020 to 2023 will continue to dominate the market, with about 70% of the number of houses launched on the market each year being high-end housing. Particularly from 2024 to June 2025, HoREA statistics show that all housing projects launched to mobilize capital on the market will only have high-end housing, no more affordable commercial housing and no more mid-range housing.
According to HoREA, in the first 6 months of 2025, there were only 4 commercial housing projects with 3,353 high-end houses eligible for capital mobilization (100% high-end houses) with a total value of VND 10,239 billion, no mid-range houses, no affordable houses.
Regarding social housing projects, HoREA pointed out the worrying fact that the results of housing development in this segment are very low, with only 205,000m² of housing construction floor space, equivalent to 4,100 apartments (average apartment area is 50m²), only reaching about 11.7% of the plan to develop 35,000 social housing apartments in the 2021-2025 period.
Assessing the real estate market in Ho Chi Minh City, Mr. Le Hoang Chau - Chairman of HoREA - said that housing prices have increased continuously in recent years and are still "anchored" at very high prices, such as the price of luxury apartments in 2024 reaching 90 million VND/m², an average of about 9.7 billion VND/apartment.
Mr. Chau also said that this is the primary price when approving the project, not the selling price but it has exceeded the financial capacity of the majority of middle-income and low-income urban people.
At the same time, he also commented that the city currently has hundreds of projects with legal problems. If they are not resolved soon to restart, it will be a waste of land resources, causing loss of state budget revenue and a lack of housing supply, making it difficult to reduce housing prices in the short term.
To boost real estate supply, Mr. Chau recommended that authorities urgently review about 220 projects with legal problems to find solutions to remove obstacles, create supply and reduce housing prices.
Proposal to early determine financial obligations of projects
The Ho Chi Minh City Real Estate Association recommends that the Ho Chi Minh City People's Committee direct the Department of Finance to preside over and coordinate with departments and branches to urgently determine "additional financial obligations (if any)" of a number of commercial housing projects so that investors can fulfill additional financial obligations.
According to HoREA, just because of the word "if any" in administrative documents, these projects have been delayed for too long.
This results in customers not being granted pink books, the investor not only does not collect the remaining 5% of the contract value, but also incurs project management costs and affects the brand reputation.
Source: https://tuoitre.vn/thi-truong-nha-o-tp-hcm-nha-o-xa-hoi-rat-thieu-can-ho-duoi-30-trieu-m2-mat-hut-2025071416184001.htm
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