In recent years, the eastern part of Ho Chi Minh City (formerly Thu Duc City) has led the way in new housing supply, particularly condominiums. However, the supply has increasingly skewed toward the high-end segment, with most new projects falling under the luxury category.

Apartment prices have been rising steadily, with each new release priced higher than the last. The average apartment price in this area is now approaching 200 million VND per square meter, or around $8,100/m².

According to VietNamNet, Gamuda Land’s Eaton Park project is currently setting the pace for prices in East HCMC, averaging over 200 million VND/m².

Following the successful launch of the Masteri Grand and Lumière Midtown towers, Masterise Homes is now preparing to release premium apartments in Tower CT5 of The Global urban area. Although pricing hasn’t been officially revealed, sources suggest it will not fall below the rates set by Eaton Park.

Palm City is also joining the race, with a new high-rise section planned to hit the market at a staggering 250–300 million VND/m² ($10,150–$12,200/m²) in the near future.

Dat Xanh Group is currently marketing the next phase of its The Privé project, offering over 1,000 apartments priced between 115–130 million VND/m² ($4,665–$5,270/m²).

The luxury condominium market in East HCMC is expected to heat up further, especially as major developers like Sunshine Group - DIA, Son Kim Land, and Bcons Group show interest in bidding for 3,790 resettlement apartments in the An Khanh area.

Elsewhere, supply remains limited

Outside East HCMC, new apartment supply remains scarce. At Mizuki Park, Nam Long Group has introduced 800 new units in the Trellia Cove zone.

Meanwhile, in Phu My Hung, the developer recently launched The Sculptura, a luxury condo project with only 75 units and 10 shophouses. This is one of the last remaining condo land plots in the Phu My Hung urban area and the first launch after nearly two years of inactivity.

Which area is leading HCMC’s luxury condo boom?

According to real estate consultancy Avison Young, in Q3 2025, Ho Chi Minh City’s apartment market continued to experience rising primary prices. New project launches saw primary prices increase by 5–8% compared to previous levels.

The East, particularly the Nam Rach Chiec area, has emerged as the epicenter of competition in the luxury apartment segment, with multiple large-scale projects launching simultaneously.

Avison Young notes that the race among developers is intensifying, as most are focusing on high-end and ultra-luxury products.

“This trend not only establishes a new price range of 200–300 million VND/m², but also positions Nam Rach Chiec as Ho Chi Minh City’s new luxury condo hub,” the firm’s representative stated.

Following HCMC’s administrative boundary expansion, the city has become a mega-urban area with significant changes in condo supply. While the former Vung Tau area has five projects, former Binh Duong province contributes 20 new developments.

Price disparities are becoming more evident, with differences of 30–50% between regions. Former HCMC areas now average 80–140 million VND/m² ($3,240–$5,670/m²); former Binh Duong averages 42–60 million VND/m² ($1,700–$2,430/m²); and former Ba Ria - Vung Tau averages 34–50 million VND/m² ($1,375–$2,030/m²).

East HCMC dominates supply, premium segment leads

Vo Hong Thang, Investment Director at DKRA Group, noted that HCMC accounted for 96.8% of total primary supply in Q3 2025.

The high-end (Grade A) segment dominated, representing 36.1% of total primary stock.

Out of approximately 6,000 new units released this quarter, former Binh Duong contributed nearly 65%.

“Primary prices continued to rise, averaging 12–18% higher year-on-year. Secondary prices rose 7–15%, and market liquidity showed positive signs,” Thang observed.

Anh Phuong