HCMC Luxury Real Estate Weekly (Oct 13-17, 2026): Core Apartment Prices Keep Rising, Thu Thiem Overtakes Phu My Hung

In the week of October 13-17, 2026, Ho Chi Minh City’s high-end residential market kept delivering two notable signals: new apartment asking prices in the core districts showed no sign of slowing, while Thu Thiem was officially confirmed to have overtaken Phu My Hung on price per square metre — a milestone several analysts had been forecasting for years. At the same time, infrastructure works in the new urban area kept accelerating and a batch of new legal policies took effect, adding further momentum to capital flows into the luxury apartment segment.

New apartment asking prices keep climbing as buyers stay cautious

According to Knight Frank Vietnam’s Q3 2026 report, cited by Tien Phong/CafeF on October 12, 2026, the average asking price for new apartments in HCMC’s former central area reached about USD 4,210/sqm (roughly VND 110 million/sqm), up 3% quarter-on-quarter and 12% year-on-year. Combining the central area with the former Binh Duong and Ba Ria-Vung Tau provinces, the average stood at USD 3,754/sqm, up 2.3% from Q2.

Avison Young recorded a luxury project in the western part of the city setting a record of USD 4,500-4,800/sqm, while Biggee’s data showed existing-apartment prices up 1.8% over three months and 12% since the end of 2025. On the supply side, Knight Frank tracked 2,711 new units launched in the central area, up 29% quarter-on-quarter and 48% year-on-year, with an absorption rate of 38%, up 40% from the previous quarter. Still, both research firms flagged a “defensive” buyer mindset: affordable units on the outskirts sold well, while inner-city luxury stock moved more slowly, with buyers weighing location, developer reputation, pricing and financing support more carefully before committing.

Thu Thiem officially overtakes Phu My Hung, with price growth running twice as fast

One development worth watching closely: according to JLL Vietnam and Tri Thuc – Znews, primary riverside apartment prices in Thu Thiem reached beyond VND 200 million/sqm in 2025-2026, up from VND 160-170 million/sqm in 2019-2022 and just VND 56-70 million/sqm back in 2015-2018 (based on the Sala project). Meanwhile, apartments in Phu My Hung currently range from VND 80-150 million/sqm depending on the sub-zone, with The Regency area at around VND 170-180 million/sqm.

David Jackson, CEO of Avison Young Vietnam, noted that between 2015 and 2025 Thu Thiem apartment prices rose roughly 20.4% per year on average, and landed houses about 23% per year, compared with roughly 10% per year for Phu My Hung over the same period. This trend echoes figures covered earlier in Thu Thiem apartment prices doubling, with one penthouse listed near VND 500 billion. The 2022 opening of Ba Son Bridge, directly linking Thu Thiem to the District 1 core, together with the area’s positioning as the city’s new financial centre, is widely seen as a key psychological trigger, while Phu My Hung has entered a more mature, slower-growth phase.

Thu Thiem infrastructure and legal framework keep moving forward

On infrastructure, the Central Square and new Administrative Centre complex, developed by the HCMC People’s Committee together with Sun Group at a total investment of nearly VND 29,600 billion, is being pushed to complete in the 2026-2028 window, according to Tri Thuc – Znews. The Saigon River pedestrian bridge, sponsored by Nutifood at nearly VND 1,000 billion, is already 80-85% complete per the My Thuan Project Management Board. Thu Thiem Bridge 4 (about VND 6,030 billion) and Metro Line 7 are both moving through investment procedures.

Per the HCMC People’s Committee’s direction, the city is targeting substantial completion of the new Thu Thiem urban area before 2030, while fast-tracking procedures for the International Financial Centre and resolving outstanding land-use fee issues for large projects such as Empire City and Lotte. Within 2026, HCMC also plans to auction 8 land plots in Thu Thiem out of 50 citywide, covering nearly 13.87 hectares, with the largest plot (1.K7.2.DV) spanning 7.44 hectares. In parallel, Resolution 04/2026/NQ-HDTP, effective from October 15, 2026, is seen as a key legal breakthrough clearing lingering obstacles for a number of luxury projects in the area.

Investor outlook: where is the opportunity in the weeks ahead?

On the eastern side of the city, Rach Chiec is also heating up as Sun Group prepares to receive land for its roughly VND 145,000 billion (about USD 6 billion) mega-project this October, pulling increased attention to neighbouring projects such as The Global City and Eaton Park. Buyers should also factor in the second-property tax policy under Resolution 21-NQ/TW, which is becoming a relevant consideration when planning to acquire an additional luxury property in these areas.

Overall, compared with the previous week, price levels across District 1, Thu Thiem, Rach Chiec and Thao Dien are holding steady to slightly higher, primary supply in the core remains tight due to limited land bank, while legal and infrastructure momentum is leaning positive for the medium to long term. This is a good moment for both end-users and investors to actively track legal updates, infrastructure progress and primary/secondary pricing on a weekly basis rather than act on outdated information.

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Conclusion and advice from your consultant

Ho Chi Minh City’s luxury real estate market is entering a clearer phase of differentiation: the core districts and Thu Thiem keep their price momentum thanks to scarce land and faster-moving infrastructure and legal progress, while buyers are becoming more selective and cautious. Having tracked projects from Masterise Homes, Gamuda Land, Son Kim Land, Sun Group, Huong Viet Properties and Lotte Group across District 1, Thu Thiem, Rach Chiec and Thao Dien since 2014, I — Thanh Tong — am ready to help you assess the right timing, the right project and the right price before you invest or buy for your own use. Feel free to reach out directly for the latest pricing and sales policy updates.

References:

• CafeF/Tien Phong (October 12, 2026) – New apartment asking prices in HCMC keep rising as buyers stay cautious
• Tri Thuc – Znews (May 29, 2026) – Thu Thiem real estate prices overtake Phu My Hung
• Tri Thuc – Znews (May 20, 2026) – Thu Thiem becomes a giant construction site
• VietnamFinance (January 5, 2026) – HCMC sets a pre-2030 completion target for the Thu Thiem urban area
• Thoi Bao Tai Chinh Viet Nam (April 5, 2026) – HCMC to auction 50 land plots, including 8 in Thu Thiem