Why townhouses in HCMC hit record $14,500 per sq.m price?

January 18, 2024 | 10:52 pm PT

Houses in Thu Duc City. Photo by VnExpress/Quynh Tran

Have townhouse prices in HCMC jumped to a record high of VND350 million (US$14,500) per square meter due to a lack of supply and strong demand from wealthy buyers?

Explaining the high prices, a property consultancy firm in HCMC said there were only 338 townhouse units on the primary market in 2023, most of which were in the luxury segment in Thu Duc City.

The high selling prices from these projects significantly increased the average price in the primary market.

These are comments by readers about the news:

Reader phuonganh:

"Firms are pushing the prices up not to sell the property, as there are few buyers with the current economic conditions and sluggish real estate market, but rather to establish higher valuations for their properties so they could secure larger bank loans."

Reader VIP:

"The prices are high due to the scarcity of this type of house and the considerable number of affluent individuals interested in this segment."

Reader tuenguyen000323:

"This price range is only affordable for wealthy business owners. And for such business owners, money is usually not a concern."

So what is your viewpoint on this matter?

*These comments were translated into English by AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.