Ho Chi Minh City real estate shifts toward suburban supply and foreign ownership

The Ho Chi Minh City real estate market is experiencing a shift in supply and ownership patterns. CapitaLand - Vista has sold 71 apartments to foreign individuals at The Vista An Phu complex, out of a total of 223 units permitted for foreign ownership. The Department of Construction has requested the developer to ensure all sales comply with legal requirements and ownership limits, which cap foreign ownership at 30% of a building's total units.

Simultaneously, apartment supply is expanding toward the outskirts of Ho Chi Minh City. Data from Knight Frank Vietnam for Q3 2026 indicates that approximately 62% of new apartment supply is located outside the traditional city center, in areas such as Binh Duong and Ba Ria - Vung Tau. While core area prices have risen by 12% due to luxury developments, secondary market prices in some surveyed projects have seen decreases of 4-7%.

Experts suggest this migration to suburban areas is driven by legal hurdles in the city center and improved transportation infrastructure. However, market analysts note that increased supply in outskirts does not automatically guarantee demand, as buyers remain sensitive to commuting times and the availability of essential services like healthcare and education.