HCMC apartment sales plunge — but prices stay high

2026-10-27

Apartment sales in Ho Chi Minh City fell 83% in Q3 from the previous quarter and 72% from a year earlier. Developers are rolling out discount and interest-free packages, but buyers are still cautious.

According to VnExpress (Oct 26), apartment transactions in Ho Chi Minh City in Q3 2026 dropped 83% quarter-on-quarter and 72% year-on-year. Over the first nine months, only 43% of new primary supply was absorbed — about 25% for apartments and just 14% for low-rise homes.

Prices, however, remain high. The average new-apartment price in the old central districts (around District 1–5) is about 104 million VND per m², and roughly 80% of primary supply is listed above 100 million VND per m². Developers are offering packages such as 15% discounts, 0% interest for 12 months, a fixed 8% for the next three years, and two years of free management fees — yet one project in Binh Duong still met only 35% of its sales target.

In a DXS-FERI survey, 72–74% of buyers said legal paperwork and developer credibility matter most, 67% picked location and transport, and only 39% put financial incentives first. Market experts note that direct price cuts actually reduce the cost of a home, while rate subsidies and gift packages mainly ease short-term cash flow. With land, compensation and construction costs high, developers prefer adjusting sales policies over deep price cuts.

What it means for foreigners

• It's a buyers' market right now — you have more room to check conditions before signing a rental or purchase.
• Look past the discount headline: ask for the real monthly payment after the free-interest and fixed-rate periods end.
• As a foreigner, ownership rules and legal paperwork matter a lot — give yourself extra time to verify documents.

• In a sales pitch, ask for a written monthly schedule showing payments after the 0% and 8% fixed periods end.
• Check foreign-ownership eligibility and the developer's legal paperwork with a lawyer or a notary office.

VnExpress (2026-10-26) · VOV (2026-10-17)