The real estate market in the Southwest still has a lot of room for development.

The Southwest will be the "destination" for housing demand and investment cash flow shifting out of big cities like Ho Chi Minh City and Binh Duong.

The real estate market in the Southwest still has a lot of room for development.

The Southwest will be the "destination" for housing demand and investment cash flow shifting out of big cities like Ho Chi Minh City and Binh Duong.

"Gentle" market

Talking about the real estate market in the Southwest region, Mr. Nguyen Van Dinh, Vice President of the Vietnam Real Estate Association, President of the Vietnam Real Estate Brokers Association, assessed that this is a relatively "gentle" market compared to other markets in the country. The nature of the market is "new", has not experienced any "fevers", and still has a lot of room for development.

According to Mr. Dinh, the selling price of real estate products in the area is on an upward trend. However, there is still a lot of potential and room for price increases.

According to the Vietnam Association of Realtors , in 2024, the Southwest region will have 74 housing projects for sale; including 10 new projects and 64 existing projects that will continue to be opened for sale. The number of products for sale is 8,257 units/plots, down 10% compared to 2023. The total number of successful transactions is 2,775 units/plots, up 70% over the same period last year.

Primary supply decreased because many investors were not confident and/or did not have enough conditions to launch. Supply mainly came from previous unsold projects and apartment projects in Can Tho and Long An.

In the supply structure, apartments account for the highest proportion, followed by villas/townhouses, townhouses and finally land. Selling prices are relatively stable, with a tendency to increase slightly by 5-10%.

Residential area in Hung Thanh ward, Cai Rang district, Can Tho city.

In the apartment segment, the number of projects opened for sale is 8 projects, with about 3,000 products. The total number of successful transactions is 1,700 transactions. Of which, Can Tho, Long An, Dong Thap are the 3 localities with the largest supply of apartments in the region. After each offering, investors proactively increased the selling price by 4-5%. The primary selling price of commercial apartment projects in Can Tho is about 47 million/m2, Long An is under 30 million/m2. The secondary selling price does not fluctuate much.

In particular, unlike many localities in the country, in the Southwest region, apartments have so far mainly focused on the affordable and low-cost apartment segment; there are almost no high-end apartments. Due to the lack of this segment, when the product of Cara River Park - the first high-end luxury apartment project with many integrated utilities in the region - was launched, it was positively received by the market.

Mr. Duong Quoc Thuy, General Director of Cara Group, said that not only customers in Can Tho and the Western provinces, the Company has recently conducted more than 50 transactions with customers who are real estate investors in Hanoi, with more than 150 billion in goods. In the first quarter of 2025, the transaction situation continues to be positive. Up to now, the total transaction of Cara River Park products has reached about 70%; with selling prices from 45-55 million VND/m2 with many incentives (if not applying promotional policies, the selling price is from 43-47 million VND/m2). The target customers are people with stable income such as experts, civil servants, business owners, etc.

Mr. Chau Thanh Binh, Head of the Legal Department - Member of the Expert Council of Can Tho City Real Estate Association, said that previously, the price of houses and land was "inflated" to an excessively high level, which was actually a virtual price. However, at present, real estate is at its most real value ever, there is no situation of high prices through multiple investments. Currently, investors who have bought a lot of goods will find ways to sell some to reduce the financial burden, so the selling price is at a reasonable level. Therefore, this is the most suitable time to invest in real estate . From the perspective of those who buy houses and land to live, this is also the most reasonable time to create a place to live.

In the villa/townhouse segment, the number of products for sale was 3,000 units, most of which were inventory that continued to be sold. Primary selling prices remained stable. Secondary selling prices increased slightly by 5-10%. The total number of successful transactions was 500. Transactions were mainly concentrated in the markets of Can Tho, Long An, and Kien Giang.

In the land segment, the number of products for sale was 2,000 products, mainly inventory continued to be opened for sale, down 30% compared to 2023. The total number of successful transactions was 600 transactions. The transaction volume was mainly concentrated in the markets of Can Tho, Hau Giang, and Long An.

Currently, land plots at the Nam Long 2 Residential Area project (Hung Thanh Ward, Cai Rang District, Can Tho City) are priced at 35 million VND/m2. According to a representative of the Nam Long Sales Department, Can Tho branch, the project was opened for sale from November 2024, with 274 products; to date, the total product transactions have reached over 80%.

Particularly for houses in the inner city of Ninh Kieu district, Can Tho city, the segment of 2-3 billion VND is being advertised and traded the most. These are houses located in alleys from 2-3m wide, with an area of ​​about 40-60m2, with clear legal status.

There is still much room for development.

Mr. Duong Quoc Thuy commented that in 2025, the Vietnamese real estate market is witnessing many positive signals, creating the premise for recovery and sustainable development. In particular, the legal corridor has been completed, important laws such as the Housing Law, the Real Estate Business Law, the amended Land Law have officially taken effect on August 1, 2024, helping the market have a solid institutional foundation, helping to remove bottlenecks, contributing to more transparent and stable operations and creating confidence for investors.

Along with that, the economy recovers strongly: Vietnam's GDP in 2024 increases by 7.09%, continues to set the target of GDP growth in 2025 at 8%, GDP per capita is about 5,000 USD. This growth brings many supports to the real estate sector: increasing income, increasing housing demand; stimulating capital flow into real estate; positive impact on credit policy and interest rates; confidence in the market.

Particularly in the Southwest region, infrastructure is receiving investment attention, many key transport infrastructure projects are being implemented (Can Tho - Ca Mau expressway, Chau Doc - Can Tho - Soc Trang expressway, Rach Mieu 2 bridge...), helping to connect the region conveniently, thereby increasing the value of real estate in the region.

“It can be seen that an overview with bright colors, the driving forces open up great opportunities for investors, businesses and home buyers, creating strong development momentum for the real estate market , including Can Tho City and the Southwest region in the coming time”, Mr. Duong Quoc Thuy shared.

Also with an optimistic perspective, Mr. Nguyen Van Dinh predicted that the Southwest will be the "destination" of housing demand and investment cash flow shifting out of large cities such as Ho Chi Minh City and Binh Duong... Real estate supply in the region will improve, estimated to reach more than 20,000 products by 2025, mainly concentrated in Can Tho City and Long An. In particular, Can Tho will accelerate to be worthy of a central city, so the Can Tho real estate market will gradually become more attractive to customers/investors.

According to Mr. Dinh, real estate prices in the area continue to differentiate. Liquidity and prices continue to improve in land products that have been divided into plots, have certificates, and in products that can be exploited to create cash flow such as apartments and townhouses.

The trend of developing high-end housing projects focuses on sustainability and integrates technology in management and operation.

Projects with complete legal documents, developed by reputable enterprises, will have a competitive advantage as investors are increasingly interested in the legal factors and real potential of the project.

“The real estate market in Can Tho, Hau Giang, Long An, and An Giang attracts investment capital into land and housing products, especially in areas near highways and industrial park projects. Phu Quoc is still a “hot spot” for tourism and resort real estate , but areas such as Ha Tien and Nam Du are also receiving more attention thanks to their tourism development potential,” according to Mr. Dinh.

Source: https://baodautu.vn/batdongsan/thi-truong-bat-dong-san-tay-nam-bo-con-nhieu-du-dia-phat-trien-d256850.html