Apartment launches in Ho Chi Minh City surge 56% in Q4

Over 2,700 new units were launched during the quarter.

In Q4 2024, approximately 2,719 new apartments were launched in Ho Chi Minh City, marking a 324% increase from the previous quarter and a 56% year-on-year rise, according to data from Cushman and Wakefield.

The East area led in new supply, contributing 80%. The High-end and Luxury segments dominated the market, with notable projects such as Opus One, Eaton Park, and Masteri Grand View.

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The affordable segment made a comeback with the launch of Conic Boulevard in Binh Chanh. The market recorded new absorption of 2,630 units, up 80% quarter-on-quarter and 51% year-on-year, indicating a recovery in the Ho Chi Minh City housing market.

The Luxury segment led with 49% of total units sold, followed by the Mid-end and High-end segments with 23% and 22%, respectively. The average primary price in Q4 2024 reached a new record of $3,672/sqm, up 22% from the previous quarter and 16% from the same period last year.

The landed property market in Q4 2024 saw only 27 new units launched from the next sales phases of two projects in Binh Chanh District and Thu Duc City, down 90% from the previous quarter. However, for the whole year 2024, 420 units were launched, up 24% year-on-year.

The market recorded 80 successful transactions, down 76% from the previous quarter but up 27% year-on-year. Transactions were mainly in Thu Duc City and the two districts of Binh Chanh and Binh Tan, accounting for 46% and 45% of total transactions, respectively. The average primary price reached $10,701/sqm, down 10% quarter-on-quarter and 28% year-on-year.