Vietnam real estate: new South Ho Chi Minh City supply appears, while Hanoi projects confront weak demand

In the first quarter of 2026, primary housing supply in the southern part of Ho Chi Minh City remained limited, with only about 1,200 new apartments launched, representing 19.7% of citywide new units. On July 3, a joint venture of several investors broke ground on the TT GENESIS project, a 1.9‑hectare development worth over VND 2 trillion, featuring two 30‑storey towers, more than 1,400 apartments and 12 townhouses. The project is positioned near upcoming metro lines 4, 7 and 10 and is being built by contractor Ricons. Alongside, other upscale projects such as Nam Long’s Trellia Cove and several luxury complexes are adding limited supply to meet strong buyer interest, which has shown a 40% rise in online searches despite overall scarce new inventory.

Meanwhile, residential projects slated to launch in Hanoi during the second half of 2026 are encountering significant sales pressure. Mortgage rates have climbed to 13‑14% per year, and a surge in social‑housing and rental stock is intensifying competition. Developers have introduced incentives like fixed‑interest loans of 7‑8% for the first two years and vouchers up to 10% of the purchase price, yet booking volumes remain low and absorption rates have fallen to 50‑60% compared with over 80% a year earlier. Buyers are exercising caution, scrutinising financing terms, legal status and project timelines before committing.