In Ho Chi Minh City, the sales rate for new apartments has exceeded 99%, yet the market maintains an imbalance between the supply of premium housing and the demand for more affordable apartments. These figures were presented on July 8 at a press briefing by Le Thi Huyen Trang, Head of JLL Vietnam, an international consulting firm.
According to JLL, approximately 3,000 new apartments entered the Ho Chi Minh City market in the first half of 2026, bringing the total supply to nearly 342,300 units.
Around 70% of new projects were concentrated in the eastern part of the city. Of the new supply, 43.2% comprised premium-class housing.
In the first six months of the year, approximately 3,600 transactions were recorded in the market, with the cumulative absorption rate exceeding 99.3%. The average price of apartments in the primary market in Q2 2026 reached 98.1 million VND (approximately $3,735) per square meter, marking a 10.5% increase year-on-year.
According to Le Thi Huyen Trang, Head of JLL Vietnam, these figures indicate that the issue is not a lack of demand, but rather an insufficient supply that matches the financial capabilities of most buyers. New projects continue to be predominantly concentrated in the premium segment, while most buyers purchasing homes for their own occupancy are seeking apartments in the mid-range or more affordable price segments.
As a result, a clear imbalance between supply and demand persists in the market. Meanwhile, prices continue to rise even amidst higher interest rates. One of the primary reasons remains the increasing costs of project implementation, particularly expenses for land acquisition, which account for an increasingly larger share of the total construction cost.
Le Thi Huyen Trang also noted a significant shift in buyer behavior. While many previously acquired properties expecting rapid price growth, buyers are now much more selective. When choosing properties, they primarily focus on the legal integrity of the project, infrastructure development, construction quality, and the potential for long-term value preservation of the property.
According to her, real estate is increasingly viewed not as a tool for short-term speculation, but as a reliable means of capital preservation.
Concurrently, the ongoing price increases are prompting more young families to consider long-term rental as a viable alternative to homeownership. According to Le Thi Huyen Trang, this creates opportunities for the development of a new rental housing model, especially with government support for such projects, including through more accessible land allocation conditions.
As one possible solution, JLL cites China's R4 model, where land for rental housing construction is provided at a lower cost than land for sale projects. This helps reduce developer costs and makes rental housing more affordable.
According to Le Thi Huyen Trang, the further development of transport infrastructure and public transport-oriented projects will be a key factor in solving Ho Chi Minh City's housing problem. As new metro lines are constructed, Ring Road 3 is completed, and major regional transport corridors are developed, the city will expand beyond its traditional center.
She noted that future market growth will occur not only in central districts but also in areas whose development will be stimulated by the metro, logistics corridors, and major infrastructure projects. This will increase the liquidity of residential properties in the suburbs, where housing costs remain more affordable, and create new long-term opportunities for buyers and investors.