Nguyen Thi Hau, an office worker in HCM City, has spent more than three months looking for a three-bedroom apartment of over 100 square metres in Binh Trung Ward but has yet to make a purchase, despite repeated price cuts. The property was initially listed at VND 11 billion (USD 427,200). After failing to attract buyers, the owner, who needed money urgently, cut the price by another VND 500 million (USD 19,400) and is now willing to accept VND 9.6 billion (USD 372,500) from a serious buyer.
"Apartment prices have cooled, giving buyers a major opportunity, especially those with sufficient cash. But buying with a mortgage remains difficult at the moment. Townhouses, too, have become much cheaper, with prices down by hundreds of millions or even billions of dong per property," Hau said.
An apartment complex in Ho Chi Minh City (Photo: Le Tinh).
A market survey found that asking prices at several HCM City apartment projects have fallen. The Nassim in Thao Dien, for example, was down 17 per cent from December 2025, while Imperia An Phu had fallen by more than 18 per cent from April and Cantavil An Phu by 18 per cent from February. The reductions vary depending on the apartment's size, floor, view and furnishing condition. With transactions slowing, actual selling prices may be lower than advertised.
Nguyen Tat Thinh, founder of property technology platform HouseZy, told Dantri that buyers with cash were in a stronger position as some homeowners faced financial pressure and needed to sell quickly.
Whereas buyers previously typically negotiated discounts of two to three per cent, reductions of around 10 per cent from asking prices have now become common, he said. A property listed at VND 10 billion (USD 388,000), for example, could be negotiated down to around VND 9 billion (USD 349,200). Discounts could reach 20-30 per cent when owners were under severe financial pressure.
However, Thinh cautioned that steep price cuts were not widespread. Properties discounted by 20-30 per cent often have drawbacks involving their location, legal status or quality. Well-maintained homes in good locations with clear legal documentation generally see reductions of only five to 10 per cent, while some owners hold firm on prices in the hope of a market recovery.
Despite the declines, buyers looking for homes to live in remain cautious. They are viewing multiple properties but are unsure which price cuts are genuine, which are merely advertised reductions, and whether the market has reached its bottom.
"If they find a property that meets their needs, has clear legal documentation and is already priced attractively, cash buyers should consider making a decision rather than waiting for further cuts, as they could miss an opportunity when the market recovers," Thinh said.
Ta Trung Kien, deputy general director of Viet A Real, said transactions on the secondary market had resumed but remained subdued, with most buyers seeking homes for their own use. Apartments with complete legal documentation, ownership certificates and convenient locations continued to attract interest, while year-end financial pressures had forced some owners to cut prices to recover their capital.
In the Hung Vuong area of Phu My Hung, Tan Hung Ward, an apartment that previously changed hands for VND 4-4.4 billion (USD 155,200-170,700) is now being offered for around VND 3.4 billion (USD 131,900) to secure a quick sale, he said.
Some investors in townhouse projects have also been forced to sell at losses of billions of dong per property after principal repayment and interest-payment grace periods expired. Kien said such properties could suit buyers able to make prompt payments.
The primary market, meanwhile, continues to face high prices, while mortgage rates have not fallen enough to stimulate borrowing. Developers have therefore shifted towards offering cash-flow support rather than cutting prices directly.
"Measures such as principal repayment deferrals, two years of interest-rate support and extended payment schedules have become common. Some projects require buyers to pay only around one per cent in each instalment, or 20-30 per cent of the property value over the first two years," Kien said.
Experts said cash buyers had gained greater room to negotiate with homeowners under pressure to sell. However, a steep discount does not necessarily represent a good opportunity. Buyers should carefully check a property's legal status, quality, location and the reasons behind its price reduction before making a purchase.
