Business Economy Markets DataSpeaks Companies Industries Property Exchange rate

HCMC housing prices soar by 40 pct

By Vu Le March 31, 2022 | 11:07 pm PT

A housing project in HCMC's Thu Duc City. Photo by VnExpress/Quynh Tran

Housing prices in HCMC and neighboring provinces increased by 42-46 percent year-on-year in the first quarter to US$7,580 and $2,630 per square meter on average.

In HCMC, they were driven up mainly by the record price tags for two new projects in Thu Duc City, real estate consultancy Cushman & Wakefield said.

Prices were up 30 percent from the previous quarter.

In neighboring provinces like Binh Duong, Dong Nai, Long An, and Ba Ria - Vung Tau, they rose by 6 percent during the quarter.

New housing supply in the city was mainly in Thu Duc City and Districts 12 and Binh Chanh.

The consultancy forecast that by the end of this year, supply in the provinces would be higher than in the city, signaling a shift in investment as the neighbors build new traffic infrastructure.