Red-hot: The race for inner-city social housing in Ho Chi Minh City—harder than winning the lottery.

Red-hot: The race for inner-city social housing in Ho Chi Minh City—harder than winning the lottery.

Can you believe it? Owning a social housing unit in central Saigon today is considered by experts to be as difficult—and as lucky—as hitting the jackpot.

• Huge demand versus limited supply
  The market is experiencing a severe imbalance. According to the Ho Chi Minh City Labor Federation, more than 2 million people are seeking housing, while supply remains critically scarce. In 2026, the city targets 28,500 units, but by the end of Q1 only 580 units had been completed, achieving just 2% of the plan.
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•                                                       Real estate in Ho Chi Minh City center, July 2025. Photo: Quỳnh Trần

• Extremely high competition ratios at prime projects
  Competition is becoming increasingly intense. For example, a project in District 10 launched just over 700 units but attracted 12,000 applications. In prime locations, competition ratios can reach 10 to 20 times, turning home buying into a real battle.
• A continuously appreciating asset
  Inner-city social housing is not only for living but also a highly promising investment. After five years, property values can double or even triple.
  • Au Co Project (District 11): increased by over 1 billion VND per unit compared to 2020
  • Topaz Home: rose from 28 million to 43 million VND per square meter
  • HQC Binh Trung Dong: increased from 25 million to 45 million VND per square meter after five years
  Current price levels have reached around 22 million VND per square meter, higher than the pre-2019 level of about 16 million VND.
• Not just having a home, but living well
  People now demand not only housing but also a better quality of life. Experts are promoting transit-oriented development (TOD), prioritizing projects near metro lines and major roads to enhance living standards.

Conclusion:
Despite existing legal and procedural challenges, with a target of hundreds of thousands of units by 2030, Ho Chi Minh City is striving to turn the dream of homeownership for low-income residents into reality.

The race continues—are you ready?