HCM City housing is among the least affordable in the Asia Pacific region with a median home price representing 32.5 times the median annual household income.
While the HCM City housing market has gone quiet after the renewed pandemic, adjacent provinces like Dong Nai, Long An and Binh Duong has seen robust growth in 2021.
Housing prices continue to rise rapidly in HCM City because of a shortage of new supply, increasing population and lack of transport infrastructure in outlying areas.
The HCM City housing market will continue to grow this year, especially the VND1 billion condo segment, the HCM City Real Estate Association (HoREA) has predicted.
Ho Chi Minh City People''s Committee has approved three residential
projects proposed by local investors and valued at more than VND3.2
trillion (US$142 million).
The HCM City Housing Development Bank (HDBank) has set aside VND4
trillion (US$178.17 million) for lending to businesses against their
deposits in dong or dollars at any bank.
The housing market in HCM City performed strongly during the
fourth quarter of last year, according to a Savills Viet Nam report
released on January 8.
The HCM City Housing Development Bank (HDBank) and the Viet Nam Southern
Food Corporation (Vinafood 2) signed an agreement on January 7 to
provide loans to stakeholders involved in large-scale rice field
projects in the Cuu Long Delta.
An additional housing space of 8.3 million sq.m was developed in this
southern city this year, reported Municipal People''s Committee Vice
Chairman Hua Ngoc Thuan.
HCM City hopes to increase per capita housing availability to 16.8
square metres this year from 16.4sq.m last year, according to its
Department of Construction.