Vietnam’s Apartment Supply Rises, but Prices Remain High in Hanoi and Ho Chi Minh City
In the third quarter of 2026, apartments dominated Vietnam’s new housing supply, but new units were concentrated in higher priced segments. Average apartment prices in Hanoi and Ho Chi Minh City rose sharply from the first quarter of 2019, while income growth has done little to ease the pressure on homebuyers.
A report by the Vietnam Association of Realtors’ Institute for Real Estate Market Research and Evaluation (VARS IRE) shows that apartments accounted for 67.27% of Vietnam’s new housing supply in the third quarter of 2026, while social housing accounted for 9.1%. Among new apartments, 22.35% were mid-range, 47.56% were upper-mid-range, and high-end and luxury units together accounted for 30.09%. New supply remained concentrated in higher priced segments.
Illustrative image of Vietnam’s housing market.（VietVance）
This pattern was especially clear in the two largest cities. High-end and luxury units together accounted for 68.5% of Hanoi’s new apartment supply, while upper-mid-range apartments accounted for 46.36% in Ho Chi Minh City. According to the VARS IRE price index, Hanoi’s average apartment price in the third quarter was about VND 79.3 million per square meter, up 97% from the first quarter of 2019. In Ho Chi Minh City, it was about VND 88.3 million per square meter, up 69.8% from the same period.
Income growth has yet to ease the pressure of buying a home. According to the Ministry of Finance’s Statistics Office, Vietnamese workers earned an average of VND 9.2 million per month in the third quarter of 2026, up 9.9% year on year. The consumer price index rose 4.52% year on year in the first nine months. The gap between apartment prices and incomes makes it harder for first-time buyers and households with limited funds to buy homes in major cities.
Lê Hoàng Châu, chairman of the Ho Chi Minh City Real Estate Association, supports developing rental housing and calls for more commercial housing that most residents can afford. He said some residents do not qualify to buy social housing but also struggle to buy commercial housing at current market prices.
Vũ Thị Khánh Vân, project development director at MSH Group Joint Stock Company, said the proposed affordable commercial housing scheme under study covers a group of buyers similar to those eligible under the social housing policy, potentially leaving out middle-income people who do not yet own a home. She recommended studying an expansion of eligibility and clarifying the conditions for applying the policy.
Source: VietVance
