Thu Thiem Update, Oct 20: HCMC Approves Starting Prices for 5 “Golden” Land Plots, Top Lot Over VND 10,198 Billion

In the final week of October 2026, Ho Chi Minh City’s Thu Thiem property market produced another headline worth watching. According to CafeF, 20 October 2026, the Ho Chi Minh City People’s Committee has approved the auction plan and starting prices for a cluster of land plots inside the new Thu Thiem urban area, clearing the way for a public auction in the coming period. The move is part of the city’s 2026 plan to auction 50 land parcels, and Thu Thiem remains the centerpiece because so little clean land is left there. For anyone already invested in, or shopping for, apartments and townhouses nearby, this is worth following closely: every successful land auction here tends to reset price expectations for the whole district.

Which 5 plots just got their starting prices approved?

Based on the approved plan summarized by CafeF, the plots sit in Functional Zone 3, An Khanh ward (the former Thu Thiem), and break down as follows:

• Plot 1.K3.5.HH (just over 10,059.7 m², nearly 1 hectare): mixed residential-services use, up to 25 floors / 100 m, floor-area ratio of 8.95, maximum population of 3,420. This is the most expensive plot in the batch, with a starting price above VND 10,198 billion, an estimated total investment of nearly VND 11,967 billion, and a minimum required owner’s equity of about VND 2,393 billion.
• Plot 1.K3.4.HH (about 0.64 ha): 95% residential, 5% services, up to 6 floors / 24 m, floor-area ratio of 2.33, maximum population 608. Starting price about VND 2,092 billion, with an estimated investment above VND 2,352 billion.
• Plot 1.K3.1.OD (8,568.1 m²): urban residential land, up to 10 floors / 40 m, floor-area ratio of 2.92, maximum population 1,067. Starting price above VND 2,632 billion.
• Plot 1.K3.3.HH: mixed residential-services use, up to 10 floors, population capped around 811. Starting price near VND 1,745 billion.
• A group of three education plots (codes 1.K4.1.MN, 1.K4.1.CS, 1.K4.1.PT, totaling 21,028.1 m²): approved for a single combined auction for an integrated school facility; no starting price has been disclosed yet.

The source report does not give a firm auction date, so interested investors should wait for the official notice from the HCMC Asset Auction Service Center before committing to anything.

Why this auction round matters so much for Thu Thiem apartment prices

A starting price above VND 10,198 billion for a plot smaller than 1 hectare — roughly over VND 1 billion per square meter of land alone, before any construction cost — confirms that Thu Thiem land values have moved into new territory. Per VnExpress, 29 May 2026, primary apartment prices at completed or ongoing projects nearby such as Empire City, The Metropole Thu Thiem, and the Sala urban area now commonly sit at VND 200-500 million per m², while Batdongsan data shows Thu Thiem apartment prices up roughly 30% over the past year and about 3.3 times over five years. CBRE Vietnam separately recorded secondary apartment prices citywide up around 26% last year, with Thu Thiem alone up about 40% — among the steepest increases in the city.

Avison Young and JLL attribute this to the fact that riverside and core land in Thu Thiem has essentially all been allocated to major developers already, so new supply mostly comes from later phases of existing projects such as Zeit River or Lotte Eco Smart City. When the last remaining “clean” plots get auctioned at high starting prices, whichever developer wins is all but forced to position its product as luxury or ultra-luxury to make the numbers work — pushing the whole area’s price floor higher rather than adding the more affordable supply many had hoped for.

Rach Chiec: the neighboring area reaping indirect benefits

Thu Thiem isn’t the only beneficiary. Nearby Rach Chiec is increasingly described by investors as a “buffer zone” with room left to run. Per CafeF, 9 October 2026, as Ho Chi Minh City’s value center gradually shifts eastward, South Rach Chiec — only about 5-7 minutes from Thu Thiem — is increasingly viewed as the new core, helped by the groundbreaking of the Rach Chiec National Sports Complex and accelerating infrastructure such as the widened HCMC-Long Thanh expressway and the An Phu interchange. Projects such as The Global City and Eaton Park still trade at around VND 120-210 million per m² per VnExpress data — notably cheaper than Thu Thiem, which creates an attractive entry point for buyers without the budget for the core but who still want exposure to the eastern corridor’s infrastructure and planning upside. For a side-by-side of how three of the area’s megaprojects currently compare, see our related Thu Thiem vs. Rach Chiec megaproject comparison.

What investors should keep in mind before this new wave of auctions

With more than ten years distributing luxury projects across District 1, Thu Thiem, and Rach Chiec, I’d flag three things to keep in mind. First, a starting price is not a final hammer price — actual auction results can run well above the opening figure, so don’t extrapolate future apartment prices from the starting number alone. Second, prioritize projects with clean legal status, visible construction progress, and a reputable developer, rather than chasing auction headlines to speculate on raw land. Third, if your goal is to live in the property or hold it for the medium-to-long term, units that are already handed over or close to it in Thu Thiem and Rach Chiec remain the safer choice compared with waiting on brand-new land plots that still have to clear legal and construction timelines from scratch.

The Thu Thiem-Rach Chiec market is entering a new pricing cycle, and every investment decision here should rest on real data rather than crowd sentiment. If you’re exploring apartments, townhouses, or villas in District 1, Thu Thiem, Rach Chiec, or Thao Dien, feel free to reach out to me directly — Do Thanh Tong, a luxury real estate advisor since 2014 — for the latest available inventory, sales policies, and a detailed breakdown of each project before you decide.

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Sources:

• CafeF, 20/10/2026 – Đấu giá loạt lô đất tại Khu đô thị mới Thủ Thiêm
• VnExpress, 29/5/2026 – Căn hộ ở Thủ Thiêm lập mặt bằng giá mới
• CafeF, 9/10/2026 – Khi “trái tim” TP.HCM xoay trục, dự án nào hưởng lợi?
• Người Quan Sát, 12/10/2026 – Giá chào bán căn hộ mới ở TPHCM tiếp tục tăng, người mua thận trọng