As one of the city’s premium residential areas with modern facilities, Thao Dien Ward (in the former Thu Duc City) is often referred to as the “rich neighborhood” of HCMC, where most residents have high incomes.

Thao Dien enjoys convenient transport connections, linked to surrounding areas through Metro Line 1 and the expressway. With a network of prestigious international schools, the area attracts a large community of foreigners working and living in HCMC. As a result, many restaurants, cafés, and shops in European and American styles have arisen.

What makes Thao Dien stand out from other luxury neighborhoods is its peaceful, nature-friendly atmosphere. Its proximity to the Saigon River keeps the air cool throughout the year.

Thanks to these natural and demographic advantages, housing types in Thao Dien are distinctive. In addition to riverside villas, many developments here are luxury condominiums.

However, every time there is heavy rain or high tide, some main roads in the "rich area" of Thao Dien such as Xuan Thuy, Nguyen Van Huong or Thao Dien streets turn into a river.

Despite the frequent flooding, house prices in Thao Dien are still among the most expensive in HCMC.

Nhu Quynh, a broker specializing in apartments in Thao Dien area, commented that due to its prime location and upscale living environment, most investors develop luxury apartments with high selling prices.

One of the projects with price increases year by year is the Masteri Thao Dien apartment complex. According to the broker, although apartments were handed over a decade ago, they are still increasing in price and are sought after by many people.

"From the initial level of VND55-65 million/sqm, the price of many apartments here has exceeded VND100 million/sqm. For example, a 70sqm apartment is being offered by the owner for VND7.5 billion. Since Metro line 1 began operating, the price increase of this apartment complex has become increasingly clear," Nhu Quynh said.

The Nassim Thao Dien apartment complex has a higher selling price, averaging VND130 million/sqm. The highest asking price in the area belongs to the Thao Dien Green apartment complex, ranging from VND160-240 million/sqm.

According to Nhu Quynh, the rent for apartments in Thao Dien area is also comparable to the central area of HCMC. A 2-bedroom apartment at Masteri Thao Dien rents for VND17-20 million/month. The same type of apartment at Thao Dien Green is VND40-60 million/month.

Townhouses, according to Huu Binh, a senior broker in Thao Dien area, are suitable for families who want a long-term residence, not for short-term investment. Although it has potential, buyers should not expect rapid price increases.

"Rapid price increases only belong to units with beautiful views, river views, and large areas. Units without these factors will only maintain their price and not increase sharply," Binh said.

The broker said that the price of townhouses in the "rich area" of Thao Dien currently ranges from VND250-310 million/sqm. The price of villas has gone up to VND200-350 million/sqm. For example, a 200sqm villa located on Nguyen Van Huong street is being offered for VND70 billion.

In recent years, the Eastern part of HCMC (former Thu Duc City) has always been the leading area for new housing supply, especially the apartment segment. However, the differentiation in apartment supply in this area is becoming increasingly clear, as the market almost exclusively offers high-end products.

Apartment prices are increasing, with developers launching products at higher prices than the previous phase. The average apartment price in this area is approaching VND200 million/sqm.

Eaton Park by Gamuda Land is the project leading the price level in the Eastern HCMC area, averaging over VND200 million/sqm.

After the two high-rise subdivisions, Masteri Grand and Lumière Midtown, Masterise Homes is preparing to launch luxury apartments belonging to the CT5 tower at The Global City urban area. Although the developer has not officially announced, the expected selling price will not be lower than Eaton Park, according to many sources.

The developer of the Palm City project is also expected to launch a new high-rise subdivision, with prices ranging from VND250-300 million/sqm in the near future.

Dat Xanh Group is also participating with the next phase of The Privé project. More than 1,000 apartments in the first phase of this project have selling prices ranging from VND115-130 million/sqm.

Anh Phuong