However, property prices here have unexpectedly surged to unprecedented levels, nearly doubling in three years.

Cat Lai is situated on the eastern edge of HCMC near a major port cluster. Key routes like Dong Van Cong and Nguyen Thi Dinh provide quick connections to the Long Thanh - Dầu Giây expressway and Thu Thiem Urban Area.

Despite its convenient location, it was rarely a priority for buyers because of the massive daily volume of tractor-trailers. Commuters faced noise, dust, and constant congestion. During peak hours, the mix of heavy trucks and motorbikes created intense pressure, deterring those looking for a place to live.

However, as information emerged regarding infrastructure projects, such as the expansion of Nguyen Thị Dinh and Dong Van Cong streets and the bridge replacing the Cat Lai ferry, the market has heated up," and prices hit record highs.

According to Nguyen Thanh Phu, a broker specializing in Cat Lai, apartment prices have nearly doubled compared to three years ago. Previously priced at VND30-35 million/sqm, rates have now climbed to VND55-60 million/sqm. A 52 sqm unit at the CitiAlto apartment complex is currently priced at nearly VND3 billion.

Even smaller units at CitiEsto are trading for VND2.8-2.9 billion, roughly VND52 million/sqm. At launch, these units were only VND20-26 million/sqm.

Not only completed projects but, according to Phu, upcoming handover projects are also seeing strong price increases. For example, a 60 sqm apartment at CitiGrand is currently priced at VND3.3–3.5 billion, equivalent to VND55–58 million per sqm, an increase of VND500–800 million per unit compared with the initial launch period.

“In the past, when apartment prices in this area were still low, many buyers were hesitant due to traffic and dust issues. Now that prices have surged, it is no longer possible to find apartments at the old low price levels,” he said.

As for townhouses, Nguyen Phuong Truc, a local broker, noted that compared with areas at a similar distance from central HCMC, Cat Lai residential area used to be considered a price trough. However, townhouse prices there have now risen significantly.

Townhouses with land areas of 100 sqm are almost no longer available below VND10 billion. Truc said townhouse prices in the area range from VND100–130 million per sqm, depending on location and condition. Units in gated compound residential areas can be priced even higher. 

Duong Minh Tien, Deputy General Director of Danh Khoi Real Estate Service JSC (DKRS), told VietNamNet that the increasingly scarce supply of mid-range housing in HCMC, together with the rollout of a series of transport infrastructure projects, especially the bridge replacing the Cat Lai ferry, is the main reason why housing prices in Cat Lai urban area have surged.

Tuan Nguyen