Apartment supplies in southern Vietnam lowest in 5 years
Apartment supplies in Ho Chi Minh City and surrounding areas in 2023 were at their lowest level in the past five years, reported realty services firm DKRA.
In the primary market, only 126 apartment projects, including 10 new ones, were offered for sale with about 22,071 units, down 32% compared to 2022, DKRA said in its report on the 2023 real estate market in HCMC and its vicinity.
New supply mainly arrived in the Eastern area of Ho Chi Minh City (64%), Binh Duong province (31%), and Dong Nai, Long An and Ba Ria - Vung Tau (the rest). Notably, no new projects were put on sale in Tay Ninh province.

An apartment project under construction in Ho Chi Minh City, southern Vietnam. Photo by The Investor/Vu Pham.
Transactions were also lower than the 2020-2022 period, reaching 9,664 units, equal to 44% of the supply in the primary market and down 56% year-on-year.
Mid-end projects with prices ranging from VND40-55 million ($1,640-2,255) per square meter, full legal status, rapid construction progress, and good connectivity saw good sales. Notably, demand recorded a slight increase in the second half of 2023 but the absorption rate was at the lowest level compared to the average of the 2020-2022 period, reaching only about 68-87%.
The respective highest and lowest selling prices were VND425 million ($17,428) and VND30 million ($1,230) per square meter in HCMC; VND59 million ($2,420) and VND27 million ($1,107) in Binh Duong; VND51 million ($2,090) and VND35 million ($1,435) in Ba Ria - Vung Tau; VND35 million and VND31 million in Dong Nai; and VND24 million ($986) and VND21 million in Long An.
DKRA said the 2023 selling price level in the primary market did not see many changes compared to the start of the year as investors applied policies such as discounts for quick payment, and principal and interest grace periods for borrowers to stimulate demand. Meanwhile, liquidity in the secondary market remained low, with prices decreasing about 3-8% from the end of 2022.
Vo Hong Thang, R&D director at DKRA, said the real estate market has been struggling for three years, with shrinking supply and demand. Many opinions said that the property market is likely to continue gloomy in 2024.
However, this expert held that the end of 2024 could be the beginning of the next growth cycle of the market. The residential housing segment is expected to lead the market's recovery, especially projects in big city centers and surrounding areas with well-connected transport systems.
“This year, the supply of new apartments will increase compared to 2023, at about 12,000-15,000 units, including 8,000-10,000 in HCMC, 4,000-6,000 in Binh Duong, and 300-500 each in Dong Nai and Ba Ria-Vung Tau. Other provinces and cities will continue to face new supply scarcity,” he forecast.
Market supply and demand are expected to improve from the third quarter when policies are sufficiently "absorbed," helping to remove legal obstacles, as well as when economic recovery prospects become clearer. The high-end apartment segment is projected to maintain its dominant position in HCMC, while mid-end and affordable apartments will account for a large proportion in Binh Duong and neighboring provinces.
- Read More
Dairy giant TH Group proposes 5 projects in southern Vietnam
TH Group, one of Vietnam’s leading dairy producers, has proposed five major projects in the southern province of Binh Phuoc, in the fields of industrial production and urban area, golf course and high-tech agricultural production zone developments.
Industries - Thu, May 29, 2025 | 12:02 pm GMT+7
2024 cyberattack 'a blessing in disguise' for Vietnam's leading broker VNDirect: chairwoman
The cybersecurity breach that major Vietnamese brokerage VNDirect Securities encountered in 2024 was "an unfortunate incident, but also a lucky chance", chairwoman Pham Minh Huong said on Wednesday.
Finance - Thu, May 29, 2025 | 9:48 am GMT+7
Vietnam prioritizes smart, green seaport projects: Deputy PM
Vietnam encourages smart and green seaport investments, as technical barriers related to CO2 emissions and CO2 taxes begin to be tightened up globally.
Infrastructure - Wed, May 28, 2025 | 10:07 pm GMT+7
New Zealand, Vietnam expand timber trade partnership
New Zealand Forestry and Trade Minister Todd McClay on Tuesday unveiled a new bilateral agreement with Vietnam designed to boost timber exports and remove potential trade barriers in the two countries' forestry sectors.
Companies - Wed, May 28, 2025 | 8:53 pm GMT+7
Norway vows to support Vietnam's energy transition
Norway is committed to supporting Vietnam’s energy transition, Norwegian Ambassador to Vietnam Hilde Solbakken said at a technical seminar held in Hanoi on Wednesday.
Companies - Wed, May 28, 2025 | 8:49 pm GMT+7
Thailand expected to become regional luxury retail hub
Thailand's luxury retail market is valued at $4.4 billion and projected to grow by approximately 5% annually through 2028, placing the country at the forefront of luxury retail in Southeast Asia and seventh in Asia-Pacific, according to property consultant CBRE Thailand.
Southeast Asia - Wed, May 28, 2025 | 8:44 pm GMT+7
Indonesia affirms role as leading global maritime hub
The Indonesia Maritime Expo, held as part of Indonesia Maritime Week 2025 on May 26-28, is the first large-scale maritime event in the country, aiming to affirm its role as a global maritime hub and promote the sustainable development of the region’s maritime industry.
Southeast Asia - Wed, May 28, 2025 | 8:41 pm GMT+7
Vietnam benchmark VN-Index hits 3-year high
The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), recorded a four-day gaining streak on Wednesday, rising 2.06 points, or 0.15%, to 1,341.87 points - the highest since May 2022.
Finance - Wed, May 28, 2025 | 6:37 pm GMT+7
HSBC launches sustainability improvement loan in Vietnam
HSBC has introduced its Sustainability Improvement Loan, a new financing solution tailored for businesses with annual turnover less than $550 million, in Vietnam, after launching it in 12 markets including the UK, Middle East, Hong Kong and Singapore last year.
Banking - Wed, May 28, 2025 | 6:15 pm GMT+7
CMA CGM, Saigon Newport to jointly develop deep-sea terminal in northern Vietnam
France's CMA CGM Group, a global player in sea, land, air, and logistics solutions, has signed a partnership agreement with Vietnam's Saigon Newport Corporation (SNP) to develop a deep-water terminal in Hai Phong city, northern Vietnam.
Infrastructure - Wed, May 28, 2025 | 5:01 pm GMT+7
Japan’s chipmaker Rapidus pledges semiconductor workforce training for Vietnam
Rapidus Corporation, a semiconductor manufacturer of Japan, has affirmed its readiness to train semiconductor workforce for Vietnam.
Economy - Wed, May 28, 2025 | 3:21 pm GMT+7
Corporate leaders offer insight into Vietnam's social housing investment landscape
Corporate leaders explained why they are reluctant to invest in social housing, despite the enormous demand in Vietnam, and recommended solutions. Kim Ngan reports.
Real Estate - Wed, May 28, 2025 | 2:49 pm GMT+7
France’s pharma giant Sanofi to transfer vaccine production tech to VNVC factory in southern Vietnam
Sanofi will transfer vaccine production technology to a Long An province-based factory of Vietnam Vaccine Joint Stock Company (VNVC), whose construction began on Tuesday.
Companies - Wed, May 28, 2025 | 11:54 am GMT+7
Telco giant Viettel, S Korea’s KT partner to boost AI transformation in Vietnam
Vietnam’s military-run telecom heavyweight Viettel has signed a strategic partnership agreement with KT, formerly known as Korea Telecom, to advance AI transformation (AX) in the Southeast Asian nation.
Companies - Wed, May 28, 2025 | 9:21 am GMT+7
Japanese companies should be 'early-bird investors' in Vietnam’s semiconductor industry
Vietnam’s Deputy Prime Minister Nguyen Chi Dung has urged Japanese companies, particularly Kioxia Corporation, to take advantage of current opportunities and invest early in Vietnam’s emerging semiconductor industry.
Industries - Tue, May 27, 2025 | 10:03 pm GMT+7
French firms should invest more in renewable energy, infrastructure, agriculture: Vietnam's Deputy PM
French companies should enhance their business ties with Vietnam in the fields of high technology, sustainable development, renewable energy, infrastructure, transportation, and agriculture, says Deputy Prime Minister Ho Duc Phoc.
Investing - Tue, May 27, 2025 | 9:39 pm GMT+7