Located in the city’s core with convenient living conditions and full services, condominiums in central HCMC consistently have some of the highest prices on the market.

Due to the nature of the central urban area, where green space is limited, developers often focus on internal amenities and high-quality design. Buyers in these projects typically belong to upper-middle to high-income groups.

A survey by VietNamNet found that the most expensive condominiums in HCMC are concentrated in four wards (formerly District 1).

Although the condos of The MarQ in Tan Dinh Ward were delivered a few years ago, its price growth has shown no signs of slowing. At launch, the products were priced at VND140–150 million/sqm. By the time of handover, prices had increased by VND20–30 million per sqm.

Minh Hoang, an agent marketing units at The MarQ, said prices have risen 10–12 percent compared to last year, now ranging from VND185–230 million/sqm.

“Rental prices here are also very high. For example, a 50 sqm unit can be leased for VND25 million/month. One owner is selling a 3-bedroom unit of more than 100sqm for VND21 billion,” he said.

Similarly, apartments at Vinhomes Golden River have also seen strong price increases. Depending on the period, initial prices ranged from 70–150 million VND/sqm, but current transactions are at 180–250 million VND/sqm, with some listings reaching 280 million VND/sqm.

Amid scarce supply and a rare central location, Lancaster Legacy Nguyen Trai is also being marketed at very high prices, approaching VND300 million/sqm.

According to agent Phan Trung, at the end of last year prices were about VND230 million/sqm, now rising to nearly VND280 million. A 3-bedroom, 105 sqm unit is listed for nearly VND30 billion.

He added that depending on unit direction and interior packages, some units in Tower B are priced above VND300 million/sqm.

Grand Marina Saigon, located in one of the most prime positions in HCMC, commands astonishing prices of VND350–600 million/sqm.

A 1-bedroom 50 sqm unit costs around VND18 billion. Three- to four-bedroom units reach VND80–90 billion, while dual-key units are priced even higher.

Ultra-luxury units 

Following the news that Saigon Glory Co, the investor of The Spirit of Saigon project, is paying principal and interest on bond lots worth VND10,000 billion, the project, located opposite Ben Thanh Market, faces an opportunity for revival.

This "mega" project consists of two towers, 48 and 55 stories high, which, besides service areas and a hotel, feature ultra-luxury apartments. After several changes of ownership, Masterise Homes is currently the project developer of the project.

Although the time for the project's restart has not been announced by the investor, brokers in the market have begun offering apartments here at a "shocking" price, nearly VND700 million/sqm.

Previously, in 2020, the apartments with selling prices of VND460–VND570 million/sqm appeared in the market. However, the project did not commence construction, and the prices remained only rumors.

At the HCMC Real Estate Forum held on November 18, Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, commented that over the past 10 years, all real estate segments in the central area of HCMC have increased in price. The segment with the highest price increase has been land plots, with an increase of 4.8 times.

Second is apartments, with an average price increase of about three times. For example, in 2015, the price of apartments in the central area was only around VND30 million/sqm, but it has increased to over VND90 million/sqm. Compared to landed houses in the core of HCMC, apartment complexes have seen a higher increase, ranging from 2.3 to 2.7 times.

In the primary market, Quoc Anh stated that selling prices are recorded in the range of VND200–VND500 million/sqm and maintain an increasing momentum of 10–30 percent per year.

Anh Phuong