After months on the market without a deal, the owner of a 290-square-metre plot with a 7.5-metre frontage in Tan Vinh Loc Commune, Ho Chi Minh City, has cut the asking price by about VND 3 billion (USD 115,400) to VND 8.2 billion (USD 315,400).
The plot is near National Highway 1A and an industrial park, with convenient access to what were formerly Tan Binh and Binh Tan districts. Schools, government offices, banks and supermarkets are also nearby. Despite the significant price reduction, the owner has yet to find a buyer after previously expecting to sell at a higher price.
Nguyen Binh, the broker handling the property, said VND 8.2 billion is not necessarily the final price. "If you come to see it in person, the price is still negotiable," Binh said.
Data from Batdongsan.com.vn shows that land prices in the area have fallen by about 32 per cent since June.
A land plot being advertised for sale in Ho Chi Minh City (Photo: MG).
In Ba Diem Commune, Ho Chi Minh City, the owner of a 110-square-metre residential plot on Xuan Thoi Thuong 30 Street has also cut the price by VND 650 million (USD 25,000) to VND 3.5 billion (USD 134,600). The plot is in a residential area near a market and schools, about 500 metres from a major road.
Thuy, the property's broker, said the owner needed money and was willing to lower the price to speed up the sale, but a buyer had yet to be found.
"The current price is VND 650 million lower than the previous asking price because the owner needs money to deal with personal matters," Thuy said.
A survey by Dantri/Dtinews found that land prices in many parts of Ho Chi Minh City have been adjusting after a period of rapid growth. In Cu Chi Commune, asking prices for land plots have fallen by more than 23 per cent year on year and more than 41 per cent from October 2025.
In Tang Nhon Phu Ward, prices have fallen by nearly 11 per cent from the first quarter. Land prices in Thu Duc and Binh Thanh wards have also declined, although the adjustments have been more modest.
The declines are more pronounced in areas farther from the city centre. Asking prices for land plots in Bau Bang Commune have fallen by about 34 per cent from a year earlier and more than 40 per cent from November 2025. In Thuong Tan Commune, prices have dropped by about 33.3 per cent from the fourth quarter of 2025.
According to the Ministry of Construction's second-quarter 2026 real estate market report, secondary-market land prices fell by about 2-3 per cent from the previous quarter. Average asking prices nationwide declined by about 2.5 per cent to around VND 40 million (USD 1,540) per square metre.
In Ho Chi Minh City, prices fell by nearly 3 per cent to about VND 66 million (USD 2,540) per square metre. Prices at many projects typically fell by 3-6 per cent from the first quarter, particularly for high-value properties or those under greater selling pressure.
A representative of real estate data analysis platform Biggee said the growth in prices for project land and street-front plots in Ho Chi Minh City and surrounding provinces and cities had begun to slow from around June, with some areas recording declines.
"The market is undergoing a clearer adjustment and segmentation, but there has not yet been a broad-based price decline. Most areas are still maintaining price levels above those at the beginning of the year, although the pace of growth has slowed considerably," the representative said.
During the first nine months of the year, street-front land was the weakest-performing segment. Prices were broadly flat or lower in most areas, while Ho Chi Minh City and Hanoi still recorded increases, albeit modest ones.
Danang was a notable exception, with street-front land prices rising by an average of 12.3 per cent from the beginning of the year. Dong Nai and Tay Ninh were also considered notable markets because of their rapid urbanisation and lower price levels than major cities.
The Vietnam Association of Realtors' Institute for Real Estate Market Research (VARS IRE) said speculative land plots and low-rise properties, particularly those whose value depends on planning information or which lack immediate income-generating potential, continued to struggle despite significant price cuts.
VARS IRE said capital was increasingly flowing towards well-planned urban developments with clear legal status, complete amenities and practical potential for use or income generation.
This suggests that price cuts alone are not enough to improve liquidity for all land plots, as buyers are increasingly focused on how properties can be used, monetised and legally secured.