According to One Housing's report, in the third quarter of 2024, the apartment supply in Ho Chi Minh City decreased sharply, up to 89% compared to the previous quarter and is at the lowest level since the beginning of 2024.

The main reason was identified as prolonged legal problems, affecting the progress of implementing new projects.

The lack of supply has not improved and mid-range projects are becoming increasingly scarce, pushing the average selling price of the whole market to continue to increase, reaching VND80.2 million/m2, up 5% compared to the previous quarter.

However, One Housing believes that the real estate market in Ho Chi Minh City in general and the apartment segment in particular are being actively supported thanks to the Housing Law, Land Law and Real Estate Business Law that are starting to "penetrate".

The new regulations will create a more transparent legal environment, promote the resolution of outstanding problems and facilitate the implementation of real estate projects.

“Currently, many projects have resumed operations and boosted sales in September, while a large number of other projects are also expected to be launched in the fourth quarter of 2024. New supply in the fourth quarter of 2024 is forecast to reach its highest level in the period 2023 - 2024,” One Housing’s report stated.

Along with the relaunch of old projects, the M&A (mergers and acquisitions) market is taking place vigorously, thanks to the revised Law on Real Estate Business, which has expanded the scope of business for investors. M&A activities have not only recorded the participation of foreign investors but also domestic investors.

Mr. Tran Minh Tien, Director of One Housing Center for Market Research and Customer Insights, said: The apartment market in Ho Chi Minh City is gradually escaping the stagnant period and welcoming new waves of growth. In particular, areas with large land funds and completed infrastructure will attract the attention of the "big guys" in the real estate industry.

“The large-scale projects being implemented will create a new look for the area, in which the focus will be on Thu Duc city, which is expected to be a ‘fertile’ land for investors,” Mr. Tien emphasized.

Meanwhile, Associate Professor Dr. Dinh Trong Thinh, an economic expert, commented: At present, the real estate market has a very good chance of recovery, so investing in real estate in any area requires considering many factors.

Specifically, in the North, Mr. Thinh said that it is necessary to consider studying the supply and demand factors when the Northern market has a relatively high price increase since the beginning of the year. Accordingly, investors need to consider the demand and factors affecting the market, and balance when the price factor increases sharply.

The Southern region such as Ho Chi Minh City and the provinces in the Ho Chi Minh City area such as Binh Duong, Long An, Dong Nai... are having great opportunities for investors. The Southern localities with the determination to develop the socio-economy in the coming period will decide and have a great impact on the development of residential real estate and industrial real estate in the South.

"With the above factors, I think the opportunity to invest in real estate in the South such as Binh Duong or neighboring provinces of Ho Chi Minh City is very large," said Mr. Thinh.