EHomeS Phu Huu social housing area in Thu Duc City of HCMC (Photo: SGGP)
Accordingly, one project for the high-end segment of housing is eligible to mobilize capital. The project is going to build 220 low-rise houses and needs to attract a capital amount of VND1.26 trillion (US$52.41 million).
Since the beginning of 2023, HCMC has issued permits of capital mobilization for 14 accommodation projects to construct over 14,200 housing items. Among them are about 13,000 apartments while the rest are low-rise houses. The total amount needed to mobilize is VND146.6 trillion ($6.09 billion).
The real estate market in HCMC continues to see the lack of mid-end, reasonably priced accommodation. The supply is mostly in the high-end segment.
In particular, among the housing items to sell in the future, over 9,200 apartments are at a price of more than VND40 million/m2 ($1,660), accounting for 64.64 percent. The rest are sold at VND20-40 million/m2 ($830-1,660).
Accommodation items under VND20 million/m2 is nowhere to be seen in the real estate market of the city in the near future.
By Duc Trung – Translated by Thanh Tam