Ho Chi Minh City needs to develop diverse housing, defining a new stature

According to experts, in addition to developing social housing, Ho Chi Minh City must have medium and high-end products to serve the needs of the high-quality workforce.

Sharing at the real estate seminar with the theme: "The road to a new growth decade" recently organized by the Ho Chi Minh City Business Association (HUBA), experts discussed many contents such as market recovery, the impact of new laws, the problem of supply - demand and housing price prospects in the coming years.

The lack of affordable housing and social housing in the Ho Chi Minh City market is also recognized by many experts and business leaders. From there, the city government is recommended to promote this segment in 2025, with the goal of highlighting the role of social housing in urban development policies.

The real estate market in Ho Chi Minh City needs mid-range and even high-end products to serve the needs of a high-quality workforce. (Photo: Le Toan)

However, Dr. Dinh The Hien - a financial expert, said that in addition to developing social housing, Ho Chi Minh City needs to have more types of mid-range and high-end apartment buildings. The reason is that Ho Chi Minh City is oriented by the Party, Government and city authorities to become a leading economic and social center in the country, with the highest per capita income (GDP) and the ability to compete on par with major cities in the region.

According to Mr. Hien, the city is not only a place for ordinary workers but also a destination for high-quality labor force, including engineers, experts, mid-level and senior officials. They will be the core force leading development in the next 10 years.

Therefore, Ho Chi Minh City needs to ensure a suitable living and working environment to attract this human resource, especially in the context of the city's orientation to become an international financial center and strongly develop high-tech zones.

For example, in Thu Duc City, according to experts, this place must be developed to become a modern urban area. A knowledge-based economic center with large-scale projects, attracting domestic and foreign experts and investors. It cannot stop at just building basic infrastructure but needs to have synchronous, breakthrough urban areas.

“This is the path to help Ho Chi Minh City truly rise to a new level, affirming its role as the economic locomotive of the whole country and becoming an international-class city,” emphasized Dr. Dinh The Hien.

From the perspective of a business leader, Mr. Le Huu Nghia - General Director of Le Thanh Real Estate Company believes that in the long term, the real estate market in Ho Chi Minh City will certainly have all segments, from high-end to social housing, to meet the needs of all classes of people.

According to Mr. Nghia, it is necessary to view the housing market in Ho Chi Minh City as an inverted pyramid. The bottom of the pyramid (the largest part) is the group of people with middle and low incomes, which accounts for the largest number, and at the same time has the highest demand for housing, but the lowest supply.

On the contrary, the high-end segment – where demand is lower – receives the most investment. This leads to an imbalance in product structure, when the "base" of the market is not invested enough, while the "top" is over-concentrated.

This imbalance not only makes it difficult for the majority of the population to access housing, but also poses risks to the sustainable development of the real estate market.

Regarding the real estate market situation in Ho Chi Minh City, Ms. Duong Thuy Dung - CEO of CBRE Vietnam said that the real estate market in 2024 is starting to show signs of recovery, with about 30,000 new apartments expected to be offered for sale. However, most of the supply is mainly concentrated in Hanoi with more than 27,000 apartments. This is a big change compared to before.

Meanwhile, in Ho Chi Minh City, there are still some difficulties due to legal problems, so the new supply is slow to recover. In 2025, it is expected that there will be only about 9,000 new apartments and will increase to 11,000 apartments in 2026. In the short term, housing prices will hardly have a basis to decrease, unless there are strong population dispersion measures, which will take a long time to implement.

According to Ms. Dung, in the mid-range and low-end segments, supply is still seriously lacking, putting great pressure on people's housing needs. This situation is especially evident in Ho Chi Minh City, where infrastructure has not been improved much and land prices in central areas are high.

Source: https://baodautu.vn/batdongsan/tphcm-can-phat-trien-da-dang-nha-o-dinh-vi-tam-voc-moi-d233005.html