Currently offering the final units of the Westgate apartment complex (Binh Chanh), the developer is adjusting prices to boost liquidity. The final phase units are being sold at more realistic prices, starting from only VND 37 million/m². Previously, the initial selling price set by the developer An Gia in 2022 was over VND 40 million/m². According to the developer, this price adjustment is partly due to the remaining units being larger, with three-bedroom layouts, which makes them more affordable compared to earlier units. Additionally, the price adjustment aims to enhance competitiveness with other projects being developed in the same area.

Housing prices across many real estate projects have remained unchanged or even decreased during year-end sale phases. (Illustrative image – Source: Nam Long Group)

A representative of An Gia shared that, thanks to pricing at only 50% of the current market level, Westgate apartments have seen strong demand in both the primary and secondary markets. The average annual price appreciation remains steady at 10–15%.

Nam Long Group has also launched the campaign “Bringing Homes Back Within Reach,” recently opening an additional 500 EHome Southgate apartments (in Long An), priced from VND 1 billion each. The starting price has remained almost unchanged since the beginning of the year.

Additionally, in the last two months of the year, new condominium units in the Flora product line at two projects—Akari City and Mizuki Park (Ho Chi Minh City)—will be introduced with adjusted prices. For instance, the starting price for Akari City apartments released in November is from VND 45 million/m² (down from VND 48 million/m² in Q3). Mizuki Park apartments are priced from VND 46 million/m² (down from VND 49 million/m² in June), equivalent to about VND 3 billion for a 2-bedroom unit.

Recently, Khang Điền officially launched The Privia project after a long preparation period. Back in 2022, this project was rumored by brokers to be priced at no less than VND 60 million/m², which aligned with the general pricing trend in the western areas of HCMC at VND 55–60 million/m². However, the actual launch price was set at around VND 48 million/m².

According to brokers, after including additional adjustments, the average price is around VND 50–53 million/m²—still significantly lower than initial expectations. This pricing move is considered reasonable, given that most active or resold projects in Binh Tan District are currently aligning closer to actual market value.

Flood of Promotions in Year-End Home Buying Season

Alongside price adjustments, most real estate projects being launched at the end of the year are heavily promoting with discounts and flexible payment plans.

Nam Long offers customers a payment plan with just 30% upfront, 65% financed by banks, and interest-free periods until handover or a fixed 5% interest rate for 24 months.

Notably, for homes priced at VND 1 billion, Nam Long has collaborated with banks to offer a plan in which buyers pay only 30% in five installments until handover. The remaining 65% is financed interest-free until delivery. From handover until the end of 2025, buyers will pay a fixed interest rate of 6% per year, translating to monthly payments (principal + interest) of just around VND 7 million.

Masterise Homes has also introduced a “move in with 20% payment” program, with 0% interest bank loans extended until April 2025. The Fiato Premium project by Thang Long Real in Nhon Trach also offers long-term interest support and payment discounts of up to 17%.

Vinhomes is launching multiple attractive offers for its resort apartment project The 5Way in Phu Quoc. Apart from five flexible payment plans and 5–9 years of interest incentives, buyers booking in November will receive an additional 15% discount and a complimentary interior package—considered one of the most generous incentives ever seen for a resort property.

Meanwhile, The Privia is offering a 10% discount, along with complimentary gold and furniture packages for buyers during this period. The developer also supports a 7.8% interest rate for the first 24 months.

Experts: Year-End Market Favors Buyers as Developers Seek Cash Flow

According to Ms. Duong Thuy Dung, Executive Director of CBRE Vietnam, more than 3,000 condo units and 85 landed homes are expected to be launched in Ho Chi Minh City in the last quarter. While new supply remains limited, liquidity is likely to improve due to lower interest rates and year-end buyer enthusiasm.

Developers are going all-in for the year-end market. In a challenging outlook, flexible payment schemes and market-aligned pricing strategies are being prioritized to attract buyers.

Ms. Dung added that market difficulties could persist until at least mid-2024, with recovery depending on improvements in macroeconomic conditions and legal frameworks.

Dr. Pham Anh Khoi, Director of the Institute for Economic – Financial – Real Estate Research at Dat Xanh Services, commented that the remaining months of the year will be a buyers’ market, as developers roll out incentives to boost demand. High discount rates of 30–40% are now possible—compared to the previous ceiling of around 9–10%—because developers are in urgent need of cash.

Some experts point out that these large “discounts” are essentially deep price cuts structured as a form of “pre-borrowing” from buyers at relatively high effective interest rates.

Mr. Nguyen Van Dinh, Chairman of the Vietnam Association of Realtors, said developers currently launching projects will avoid setting overly high prices to ensure sales. Offering discounts comparable to bank interest costs is a smart strategy to reduce home prices while securing cash flow in a time of capital constraints—ultimately benefiting buyers.

Agreeing with this, Mr. Ngo Quang Phuc, CEO of Phu Dong Group, said that projects with high pricing are struggling to sell and are forced to reduce profit margins to ensure liquidity. Boosting promotions and discounts is a way to maintain business operations. As a result, homebuyers at this time are in a better position to benefit.