Finding A $3 Billion Apartment in Thu Duc Now A Challenge
Affordable apartments under $3 billion in Thu Duc City are disappearing fast as property prices soar to new highs. Explore the latest market trends and forecasts.
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Buyers Struggle to Find Homes Under 3 Billion VND
For months, Hanh Dung, a 31-year-old banker, has been searching for a two-bedroom apartment around 60 square meters in Thu Duc with a total budget of 2.8 billion VND, including financing. Despite visiting six projects, she still hasnāt found a suitable home.
“The apartments with decent quality and location are all above 4 billion,” Dung said. “Even properties 15ā20 km from downtown are priced between 3.3 and 3.5 billion.”
Similarly, Tran Hieu, currently renting in Thanh My Loi ward, has been looking for a 65-square-meter home priced around 3.5 billion VND for his family of five. After exploring over 10 projects, he found that even older units larger than 60 square meters are typically priced at 3.7 billion VND or more.
With a 3 billion VND budget, buyers like Hieu are often limited to compact apartments around 45ā50 square metersātoo small for larger households.
New Projects Rarely Offer Budget Options
According to VnExpress reports, since 2023, apartments under 2 billion VND have disappeared from Thu Ducās market. Projects offering units below 3 billion are now few and far between.
Citi Grand by Kien A Group (Cat Lai Ward) is among the last few developments selling apartments under 3 billion VND, at about 55 million VND/mĀ². However, only around 200 units remain.
MT Eastmark City, near the border of Thu Duc and Dong Nai Province, is offering its final inventory at 50 million VND/mĀ².
Upcoming projects like Happy One Sora and Fiato Uptown are expected to launch by the end of this year, with starting prices near the 3 billion VND mark.
However, these are located further from the city center, making them less attractive for those needing easy access to downtown Ho Chi Minh City.
Rising Prices Push Buyers Further Away
The One Mount Groupās latest report shows that average apartment prices in Thu Duc reached 85 million VND/mĀ² in Q1 2025āa 22% increase compared to the previous year.
Two-bedroom apartments (55ā60 mĀ²) are now listed for 4.5 to 6 billion VND, excluding taxes and fees.
Avison Young Vietnam reports that 80% of new apartment supply in HCMC in early 2025 came from Thu Duc, priced between 80ā145 million VND/mĀ².
District 2 apartments now range between 125ā450 million VND/mĀ², while District 9 and Thį»§ Äį»©c areas list properties at 60ā100 million VND/mĀ².
Continuous price hikes since 2019 (8ā12% annually) have pushed affordable units out of reach for many.
Experts Warn: Affordable Housing Is Shrinking
Senior Manager Cao Thi Thanh Huong from Savills HCMC notes that apartments priced under 3 billion VND are now classified as “affordable housing.” In 2024, this segment accounted for just 15% of the market. By 2026, it could shrink further to only 5%.
Tran Minh Tien, Director at One Mount Groupās Research Center, explained that developers in Thu Duc tend to favor high-end and luxury projects due to better profitability and lower risks. Escalating project development costs and regulatory hurdles also push developers toward premium segments.
“The shortage of mid-range and affordable housing is not just a Thu Duc issue; itās a systemic problem across all of Ho Chi Minh City,” Tien emphasized.
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