The figure was cited by Nguyen Thai Binh, vice-chairman of the Vietnam Association of Realtors (VARS) and general director of Dong Tay Land JSC, at the Southern Real Estate Forum 2026, held on August 18 by the Business Forum Magazine.
Speakers exchange views at the forum
Binh said an apartment development near Ben Thanh Market had reached about VND 1 billion (USD 37,700) per square metre. The luxury project had recently been restarted after being stalled for an extended period because of legal and planning issues.
Meanwhile, property prices in the core of central Ho Chi Minh City currently start at around VND 200-500 million (USD 7,550-18,900) per square metre.
Such prices mean central property is increasingly limited to buyers with substantial financial resources, while mass-market capital is shifting towards suburban areas.
Greater need for affordable and social housing
Nguyen Van Dinh, vice-chairman of the Vietnam Real Estate Association and chairman of VARS, said the southern property market was likely to develop along three main trends.
Liquidity would remain differentiated, with projects offering clear legal status, reputable developers, reliable construction schedules and prices within buyers' reach likely to have an advantage. By contrast, overpriced projects dependent on speculative demand would struggle to attract buyers.
Capital is also expected to move towards satellite areas and cities along major infrastructure corridors.
Once Ring Roads 3 and 4, the Ben Luc-Long Thanh and Bien Hoa-Vung Tau expressways and Long Thanh International Airport are completed, the investment area is expected to expand and accelerate the development of a polycentric urban model.
Another notable shift is that developers are expected to move away from competing primarily through discounts and instead offer financial incentives, including long-term interest-rate support and loans covering up to 70 per cent of property values.
Dinh said developers needed to bring prices closer to what buyers could afford and increase the supply of affordable commercial housing and social housing.
Authorities should remove legal obstacles and accelerate infrastructure development, while developers and banks should work together to offer interest-rate support and extend payment schedules.
"Products that meet genuine housing demand will help restore confidence and liquidity," Dinh said.
According to Binh, property investment capital in Ho Chi Minh City is shifting from the central area towards locations along infrastructure corridors and the city's expanding urban footprint.
Investors are also changing how they assess properties, moving away from simply considering the distance to the former District 1 or Ben Thanh Market and focusing instead on actual travel times and connectivity.
Binh said infrastructure was necessary to expand the urban boundary and stimulate satellite markets, but it was not sufficient on its own.
Many projects located near expressways, metro lines and airports still struggle to attract buyers when they lack coordinated planning, capable developers, adequate amenities and established residential communities.
"The future of real estate will be integrated mega-urban developments offering homes, jobs and services in one place. Areas on the outskirts with adequate infrastructure and amenities will then become new urban centres, creating sustainable value rather than relying solely on expectations of price increases," Binh said.
Dinh Minh Tuan, southern regional director of Batdongsan.com.vn, said apartment prices in Ho Chi Minh City fell by 5-7 per cent between 2021 and 2024, when interest rates stood at 14-16 per cent.
As interest rates eased in 2025 and 2026, prices rebounded, rising 22.5 per cent over the past year and fully recovering the previous decline.
Tuan said central Ho Chi Minh City property prices, which have reached hundreds of millions of dong per square metre, were pushing young people and owner-occupiers towards suburban areas.
Investment capital is moving along major infrastructure corridors, particularly towards the city's eastern area and its expanding eastern suburbs, although incomplete ring roads and connecting infrastructure remain obstacles.
Buyers are also becoming more demanding. About 60 per cent consider construction quality and the developer's capacity important, while 27 per cent prioritise surrounding amenities. Some 90 per cent are willing to pay more for projects located near metro lines or ring roads.
Tuan said property searches had stabilised in July after a period of decline, suggesting the market may have reached a bottom.
The market is expected to recover slowly and selectively, with demand likely to favour projects serving genuine housing needs along major infrastructure corridors and in emerging urban centres.
