Hanoi investors eye HCMC condo market

Even though not as vibrant as the Hanoi market, the apartment segment in Ho Chi Minh City remains highly attractive to investors, capturing the attention from nearly 50% of Hanoi-based respondents of a survey.

The survey, conducted recently by One Mount Group on real estate investment trends among Hanoi investors, reveals that nearly 50% of respondents expressed interest in the apartment segment in Ho Chi Minh City.

Among them, 20% are ready to invest, indicating a clear intention and readiness to execute a transaction when a suitable opportunity arises. Additionally, 65% are considering investing and are currently evaluating the market, requiring more information and persuasive factors to make an investment decision.

According to a report by One Mount Group, the Ho Chi Minh City real estate market in 2024 recorded a significant decrease in new supply, with the total number of apartments launched during the year reaching only about 5,200 units, a 40% decline compared to 2023.

However, by the fourth quarter of 2024, the market experienced a strong recovery. The consumption of new supply exceeded 100%, reflecting positive market sentiment and sustained high demand for housing.

Mr. Tran Minh Tien from One Mount Group stated that the development momentum of the Ho Chi Minh City real estate market will continue to gain traction from the beginning of 2025. This is largely due to the Thu Duc City People's Committee officially approving the investment policy for 12 projects, with a total investment of up to VND33 trillion (nearly $1.3 billion), and preparing to auction 49 land plots in Thu Thiem for urban and commercial development projects.