Which locality in Ho Chi Minh City leads the high-end real estate market?

Looking ahead, Thu Duc is poised to evolve into an international financial centre, with an emphasis on sectors such as high-tech, healthcare, banking, education and scientific research. As noted by Knight Frank Vietnam, this vision will further fuel demand for luxury properties—including upscale apartments, villas and office spaces. Unsurprisingly, occupancy rates for new developments in Thu Duc remain high, particularly in areas such as Thu Thiem, where rates already exceed 70%.

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Thu Duc’s transformation is also attracting middle-class families and affluent professionals. Projections from Knight Frank Vietnam estimate the population will reach 2.64 million by 2040, with over 20,000 expected to be specialists and highly skilled professionals. To meet the expectations of this emerging upper tier, developers are increasingly focusing on high-end residences that deliver not only comfort but a premium lifestyle.

As the ranks of high-income earners and the elite expand, the city’s commercial property sector is expected to thrive in tandem—especially in the areas of office space, retail and lifestyle services.

In the near future, the merger of Ho Chi Minh City, Binh Duong and Ba Ria—Vung Tau could bring significant transformation to Vietnam’s luxury real estate sector. According to the Vietnam Association of Realtors (VARS), this consolidation may positively affect the market by streamlining legal procedures and expanding supply.

Binh Duong, in particular, is well positioned to support growth in the high-end property segment. With strong appeal for investors, improved infrastructure, accessible transport links and a long-term strategy for sustainable urban development, the province is gaining traction.

The merger with Ho Chi Minh City and Ba Ria—Vung Tau could sharply elevate Binh Duong’s property values. As investment capital grows, a greater influx of international experts and high-income professionals is expected, driving up demand for luxury apartments and villas.

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Beyond Binh Duong, Ba Ria—Vung Tau is also likely to benefit from the merger, particularly through opportunities in resort real estate development. However, a report by DKRA Group indicates the market there remains relatively subdued, with most activity centred on completed projects that have cleared legal formalities.

Amid signs of economic recovery in Vietnam, the proposed merger could give rise to a “new megacity”, potentially accelerating national growth and aligning development with global standards. In real estate, Mr Vo Hong Thang, Deputy General Director at DKRA Consulting, observed that market demand continues to cluster in major cities with dense populations and rapid urbanisation.

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