In downtown HCMC apartment prices fall by 40%

📉 The prices of some luxury apartments in Ho Chi Minh City’s District 1, the central business district, have fallen by almost 40%. More and more people are selling properties in HCMC’s suburbs and neighboring provinces at a loss of 30-50%, but in the city’s prime locations few are willing to take a hit of more than 30%.

💸 Only some cash-strapped buyers are forced to sell at bigger losses. Over 1,900 luxury apartments from past launches remain for sale and their prices decreased by 1% year-on-year.

🔝 In the primary market, luxury apartments cost US$4,500-10,000 per square meter, according to Cushman & Wakefield.

🧮 Real estate consultancy CBRE Vietnam categorized apartments in the city into five segments: super luxury costing $12,000 per square meter, luxury at $4,000-12,000, high-end at $2,000-4,000, mid-priced at $1,000-2,000, and affordable at up to $1,000.

Source: https://vietnam-b2b.com/axrl