One-bedroom HCMC apartment costs more than a quarter million dollars

[Viet]

A one-bedroom apartment in HCMC's Thu Thiem Peninsula costs VND6 billion ($251,400) as property prices surge in the most luxurious area in Vietnam's biggest city.

Thu Thiem Peninsula in Thu Duc City. Photo by VnExpress/Quynh Tran

The apartment commanding a price of VND150 million per square meter is located near the Thu Thiem Tunnel and is the smallest accommodation in the project.

A two-bedroom-two-bathroom apartment is priced VND10-16 billion, while a three-bedroom-three-bathroom affair costs around VND25 billion, or more than a million U.S. dollars.

Penthouses with three to five bedrooms, meanwhile, cost VND33-130 billion.
In another project with a river view, an apartment costs VND170-190 million per square meter.

Chau, a property broker in eastern HCMC, said that in some projects that have not yet launched, the smallest apartment (50 square meters) costs around VND9 billion. For the same price, a buyer can get his or her hands on nearly four two-bedroom apartments in the middle segment in Thu Duc City (costing VND2.4 billion each on average).

Sellers have been pushing prices up to new heights as the peninsula has infrastructure linking it with the financial hub of District 1, he said.

The VND6 billion price tag for the smallest apartment in Thu Thiem might sound too expensive to the average buyer, but properties on the peninsula are meant for rich or ultra-rich people, said Nguyen Mac Hoai Nam, CEO of property developer Nam Phat.

One-bedroom HCMC apartment costs more than a quarter million dollars - VnExpress International

A one-bedroom apartment in HCMC's Thu Thiem Peninsula costs VND6 billion ($251,400) as property prices surge in the most luxurious area in Vietnam's biggest city.

ampe.vnexpress.net

 

[MH.Yang]

A medium-sized city with a population of 12 million, with a per capita GDP of $4300. The room price reaches $6280?

Now the house price in Vietnam exceeds us?

 

[Mista]

Now the house price in Vietnam exceeds us?

Vietnam is following China's economic model after all.

青出于蓝而胜于蓝.

 

[MH.Yang]

Vietnam is following China's economic model after all.

青出于蓝而胜于蓝.

Yes. Vietnamese are really good apprentices. Whether our policies are good or bad, Vietnamese can reach a new level.

I now live in Changsha, Hunan Province. The urban population is also about 12 million. Second tier cities in China. In 2021, Changsha's per capita GDP was 132100 CNY. About 20000 dollars.

Our room price is 14433CNY. That's about $2100.

The population is almost the same. Our income is three to four times that of them. Their house price is three to four times that of ours.
Well done!

 

[Mista]

Yes. Vietnamese are really good apprentices. Whether our policies are good or bad, Vietnamese can reach a new level.

I now live in Changsha, Hunan Province. The urban population is also about 12 million. Second tier cities in China. In 2021, Changsha's per capita GDP was 132100 CNY. About 20000 dollars.

View attachment 886018


Our room price is 14433CNY. That's about $2100.

View attachment 886020

The population is almost the same. Our income is three to four times that of them. Their house price is three to four times that of ours.
Well done!

To be fair, OP is citing a very prime area in HCMC which can't be compared to 'average' area in other cities.

A one-bedroom apartment in HCMC's Thu Thiem Peninsula costs VND6 billion ($251,400) as property prices surge in the most luxurious area in Vietnam's biggest city.

 

[Viet]

To be fair, OP is citing a very prime area in HCMC which can't be compared to 'average' area in other cities.

Yes Saigon is comparable to Shanghai the economic center, while Hanoi to Beijing, the political center. Prices hit the sky because lots money pouring into property market. That’s a global phenomenon everywhere though, not only Vietnam.

 

[MH.Yang]

Yes Saigon is comparable to Shanghai the economic center, while Hanoi to Beijing, the political center. Prices hit the sky because lots money pouring into property market. That’s a global phenomenon everywhere though, not only Vietnam.

I don't think Saigon can be compared with Shanghai, nor Hanoi with Beijing. You overestimate the city of Vietnam. I compare Changsha, a second tier city in China, with Ho Chi Minh City. That is overestimated Ho Chi Minh City.

 

[Viet]

I don't think Saigon can be compared with Shanghai, nor Hanoi with Beijing. You overestimate the city of Vietnam. I compare Changsha, a second tier city in China, with Ho Chi Minh City. That is overestimated Ho Chi Minh City.

I mean symbolic.

 

[tower9]

A medium-sized city with a population of 12 million, with a per capita GDP of $4300. The room price reaches $6280?

Now the house price in Vietnam exceeds us?

That’s in the most luxurious area. Every major city will have very desirable places that are priced out of reach for most locals.

I don't think Saigon can be compared with Shanghai, nor Hanoi with Beijing. You overestimate the city of Vietnam. I compare Changsha, a second tier city in China, with Ho Chi Minh City. That is overestimated Ho Chi Minh City.

I don’t think so. Doing this you are diminishing Saigon’s importance as the financial center of an up and coming major industrial power. This would be like if in 2000, you said Shanghai was comparable to Houston or Dallas because it’s gdp was the same size which is ludicrous given Shanghai’s obvious cultural and geopolitical importance. Vietnam is a major rising industrial power, Saigon is its financial and industrial capital and the city is destined to be one of the great cosmopolitan regions of Southeast Asia, which is rapidly becoming one of the most powerful economic spheres in the
world.