Thu Thiem Apartment Prices Double: Penthouse Listed Near VND 500 Billion

A penthouse at The Metropole Thu Thiem complex has just been listed by brokers at roughly VND 480 billion (about USD 19 million) – a figure that has turned heads even among seasoned agents. It is only one signal among several showing that Ho Chi Minh City’s luxury apartment market, centred on the new Thu Thiem urban area and District 1, has entered a fresh price cycle, backed by third-quarter 2026 data released by market researchers over the past week.

Thu Thiem Asking Prices Have Nearly Doubled in Three Years

According to a VietNamNet survey published on 11 October 2026, asking prices for Thu Thiem apartments have climbed steeply: roughly VND 140-165 million/m² in 2023, past VND 190-200 million/m² by late 2024, reaching VND 280 million/m² in 2025, and inching up to around VND 320 million/m² by early June 2026. In just three years, asking prices in the area have nearly doubled.

The projects named in the survey are familiar to luxury buyers: at The Metropole Thu Thiem (developed by SonKim Land, with its final tower known as The OpusK), a large three-bedroom unit is being offered at around VND 90 billion, with duplex and corner units priced well above that; at The River Thu Thiem, river-facing units that traded around VND 170 million/m² in 2021 are now listed at VND 220-330 million/m²; and at Empire City, prices range from VND 280 to 500 million/m² depending on position and unit type. Newer projects such as Zeit River are also being positioned in a similar premium bracket. These are asking prices on the primary and secondary markets rather than confirmed transaction prices, but the upward trend is hard to dispute.

Ho Chi Minh City’s Q3 2026 Apartment Market: Supply Stays Tight, Primary Prices Keep Rising

Knight Frank Vietnam’s Q3 2026 report, released in early October, confirms the broader picture: average primary (new-launch) apartment prices in the pre-merger Ho Chi Minh City area reached about USD 4,210/m² (roughly VND 110 million/m²), up 3% quarter-on-quarter and 12% year-on-year. Across the expanded region (including the former Binh Duong and Ba Ria-Vung Tau), the average was about USD 3,754/m², up 2.3% from the previous quarter. Notably, the increase in Ho Chi Minh City is driven mainly by a steady stream of luxury and ultra-luxury launches, not a uniform rise across the whole market.

On absorption, the pre-merger city recorded 2,493 transactions for the quarter, up 40% quarter-on-quarter, against 2,711 newly launched units – a sign that demand for mid-to-premium central products remains strong. CBRE separately notes that Ho Chi Minh City’s primary prices have risen by an average of about 14% a year between 2021 and 2026, and forecasts roughly 11% annual growth ahead, largely because affordable supply has nearly disappeared while genuine end-user and long-term investment demand stays concentrated in the city centre.

Why Prices for Central Luxury Homes Are Unlikely to Cool Soon

Market researchers point to three main drivers. First is the scarcity of clean, well-located land in areas such as Thu Thiem and District 1, where infrastructure is largely complete and little new development land remains. Second, supply is skewed heavily toward the mid-to-premium segment: in the first seven months of 2026, Ho Chi Minh City approved 37 projects for launch totalling more than 27,300 units, up 1.64 times year-on-year, yet most of that supply still sits in the higher price bands, so downward price pressure has barely materialised, especially in Thu Thiem. Third is the cost of capital: real-estate lending rates are expected to stay around 10-15% a year, which raises developers’ input costs while making it harder for buyers to use leverage – a dynamic that, if anything, reinforces the position of luxury products, whose buyers typically have stronger balance sheets and rely less on bank financing.

A District 1 Perspective: Grand Manhattan and Lancaster Hold Above VND 300 Million/m²

It is not only Thu Thiem. Data reported by Dan Tri on 7 October 2026 shows District 1’s luxury segment also holding firm even as the resale market for older buildings slows. Apartments at The Grand Manhattan, developed by Novaland, are currently quoted at around VND 350 million/m² (excluding VAT), with roughly 300 units remaining, while Lancaster Lincoln is expected to launch near VND 300 million/m². Opposite Ben Thanh Market, One Central Saigon has yet to announce official pricing, though brokers expect select units to exceed VND 1 billion/m².

Savills believes the Ho Chi Minh City apartment market has not entered a broad correction cycle; over the next six to twelve months, any adjustment is more likely to happen project-by-project – through sales incentives such as interest-rate support, grace periods, or discounts – rather than across-the-board price cuts.

For end-users and long-term investors, the sustained price momentum in Thu Thiem and District 1 also highlights opportunity in nearby areas that still have room to grow, such as Rach Chiec, where projects including The Prive and Palm City remain more accessible on price while benefiting from the same infrastructure upgrades connecting the wider eastern corridor of the city.

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Conclusion

A Thu Thiem penthouse being quoted at nearly VND 500 billion is not an isolated curiosity; it is the headline data point in a broader price trend confirmed by VietNamNet, Knight Frank, CBRE and Savills in early October 2026. With supply still tilted toward the premium segment and the cost of capital staying elevated, a broad, deep price correction across central Ho Chi Minh City looks unlikely in the near term. For both investors and genuine homebuyers, this is the moment to work from accurate, up-to-date information before making a decision that fits their financial goals.

If you are considering an apartment, townhouse, or villa in District 1, Thu Thiem, Rach Chiec, or Thao Dien, and need guidance on legal status, construction progress, sales policies, or the realistic return of a specific project, feel free to reach out to consultant Do Thanh Tong via Inforealty.vn for prompt, accurate advice.

Sources:

• VietNamNet – Thu Thiem apartment prices nearly double, one super-luxury unit listed near VND 500 billion (11 October 2026)
• CafeF – Ho Chi Minh City apartment prices keep rising, here’s why (9 October 2026)
• Dan Tri – Older apartment prices fall while new launches stay high (7 October 2026)