Ho Chi Minh City condominium supply to grow by 3,000 units in Q4

The market signals a positive recovery in stock levels.

The HCMC condominium market is gradually recovering in Q3 2024 according to Avison Young, with many projects already launched or in the process of being sold, creating momentum for the market and marking a recovery after a period of stagnation. 

“Notably, the success of recent projects not only strengthens market confidence but also opens up a new wave, promising a more active supply and transaction landscape in the near future,” the analyst said.

Here’s more from Avison Young: 

A series of existing projects have announced the next phases to the market, including D-Homme (TTC Land) with 445 units, Fiato Uptown (Hung Phu Invest) with 466 units, Lavida Plus (Quoc Cuong Gia Lai) with 200 remaining units, and Eaton Park - Phase 2 (Gamuda Land), signalling a positive recovery in supply. 

Additionally, in this quarter, a new project, The Opus One (Samty) - part of Vinhomes Grand Park - with 2,000 units has been officially launched. It is expected that the total supply in HCMC in the last quarter of 2024 will increase by approximately 3,000 units, contributing to a more vibrant market. 

However, in the past Q3, the market has seen a shift in demand to neighbouring areas such as Binh Duong, thanks to the more affordable prices of apartments in these areas compared to those in Ho Chi Minh City. Some notable projects include TT Avio (TT Capital), Sycamore (CapitaLand), and BenHill Thuan An (Ben House).