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Ho Chi Minh City and Surrounding Areas Housing Market Report: 2025 Outlook for Undeveloped Land

According to the Ho Chi Minh City and Surrounding Areas Housing Market Report 2025 (with surrounding areas including Dong Nai and Tay Ninh) recently announced by DKRA Group, the undeveloped land segment in 2025 recorded a 2% increase in primary supply compared to 2024. However, this level remains low compared to the period prior to 2022. Among the total primary supply, projects previously launched accounted for 87%.

New supply continues to be scarce and shows little fluctuation compared to 2024. Accordingly, the number of new products only constituted about 13% of the total primary supply.

Regarding demand, DKRA Group stated that the market improved, with consumption increasing by approximately 69% year-on-year. However, transactions primarily focused on projects with completed infrastructure and legal status, developed by financially capable investors.

Tay Ninh played a leading role in new supply, with its share of supply and consumption reaching 38% and 53% respectively. Compared to the same period in 2024, the average primary price level increased by 6%, while secondary prices commonly rose by 12-15%.

DKRA Consulting forecasts that in 2026, new supply in the undeveloped land segment will recover positively thanks to the boom of large-scale urban area projects, estimated to range from 3,500-4,000 plots. Benefiting from large land banks, significant room for price appreciation, and favorable regional connectivity infrastructure, Long An (former administrative boundaries), Binh Duong (former administrative boundaries), etc., will continue to play a key role as market supply drivers.

Regarding demand in 2026, a representative from DKRA Consulting noted that the recovery trend is expected to continue, though it will remain selective, primarily focusing on certain localities and product groups with completed infrastructure, clear legal frameworks, and convenient trade and regional connectivity.

Regarding the price trend for this segment, Ms. Pham Thi Mien, Deputy Director of the Vietnam Real Estate Research Institute (VARS IRE), stated that new undeveloped land prices in many projects recorded increases of up to 20%. According to her, the main reason is prolonged scarcity of supply while investment and asset accumulation demand remains high.

In the secondary market, undeveloped land prices increased by 20-100% in some areas with lower base prices. Low-rise housing prices also saw an increase of approximately 20% compared to the previous year. Transactions primarily focused on projects priced between 100-200 million VND/m2, located in established urban areas with existing residents and synchronous infrastructure and utilities.

Nationwide, the Ministry of Construction reported that in 2025 there were approximately 579,718 successful real estate transactions, an increase of about 7.7% compared to 2024. Of these, condominium and individual house transactions reached 138,025 successful transactions, an increase of approximately 10%. Undeveloped land transactions totaled 441,693 successful transactions, an increase of about 7% compared to 2024.

According to the Ministry of Construction, secondary market prices for project-developed undeveloped land in localities generally show an upward trend. This increase is concentrated in areas with synchronous infrastructure connectivity, central locations, and clear planning information. In 2025, undeveloped land prices are projected to increase by 20-25% compared to 2024.

 

Communicated by An Huy Group

According to Lao Dong Online newspaper