In a bid to make home ownership more accessible for young families, the Conic Boulevard project in Ho Chi Minh City has introduced a series of attractive policies aimed at easing the financial burden of first-time buyers. As rental prices in major cities like Ho Chi Minh City and Hanoi continue to rise, many young professionals are shifting their focus from renting to purchasing homes.
According to Mr. Nguyen Van Dinh, Chairman of the Vietnam Association of Real Estate Brokers (VARS), the continuous increase in apartment prices has led to a significant rise in rental costs, with average increases ranging from 10% to 20% throughout 2024. In light of these pressures, many young people are now considering buying homes as a way to stabilize their living situations and invest in their futures.
A recent consumer sentiment report by PropertyGuru Vietnam highlights a notable trend: the demographic of home buyers is getting younger. Approximately 60% of individuals under 30 years old claim they are financially capable of owning at least one property. This shift is crucial as it indicates a growing confidence among younger generations in their financial stability and investment potential.
The Conic Boulevard project has responded to this trend by offering flexible payment options that cater specifically to the financial situations of young buyers. Customers can secure their homes by paying just 25% of the contract value upfront, allowing them to move in immediately. The remaining balance can then be paid off in installments over a period of 36 months, with payments starting at only 1% per month during the first 23 months. This gradual increase in payment amounts—ranging from 2% to 3% in subsequent months—provides a manageable approach for those who may not want to face a heavy financial burden all at once.
Moreover, the project has partnered with Viet A Bank (VAB) to offer attractive loan packages, providing up to 85% financing on the contract value, with a 0% interest rate for the first 18 months and a grace period for principal payments extending up to five years. These financial incentives make it easier for young families to consider home ownership as a viable option.
Conic Boulevard boasts a comprehensive range of amenities designed to meet the needs of modern residents. The project includes over 20 facilities such as a gym, yoga studio, multi-sport field, jogging track, BBQ area, children's playground, and more. These amenities are strategically placed to create a balanced and vibrant living environment that appeals to families and young professionals alike.
The apartments at Conic Boulevard range in size from 84m² to 114m² and come equipped with high-end appliances, allowing new owners to save on renovation costs and move in immediately. The project is located at the intersection of Vo Van Kiet Avenue and National Highway 1A, close to the Tham Luong canal and Cho Dem river, which facilitates easy access to key districts such as Districts 5, 6, Binh Tan, and 8, as well as the southern areas of Saigon.
As rental prices continue to soar and property prices remain high, the flexible payment policies at Conic Boulevard provide a financially sound solution for young buyers looking to realize their dream of home ownership. This trend is further supported by a report from Batdongsan.com.vn, which indicates that while the Vietnamese real estate market is experiencing stable price growth, there has been a slight decrease in search demand from late 2024 to early 2025. However, both land plots and apartments have seen an increase in search volume in the first quarter of 2025.
On April 9, 2025, the Cat Tuong Land Real Estate Business Joint Stock Company held a business summary for the Cát Tường J-Home project and officially announced the Golden Mile commercial avenue subdivision within the South Dong Xoai urban area. This development is part of a broader trend where urban areas are adapting to meet the growing demand for housing.
The situation in Hanoi is also reflective of the shifting dynamics in the real estate market. With the city's population projected to grow to about 11 million by 2030, there is an increasing demand for new housing. However, according to Ms. Do Thu Hang, Senior Director of Research & Consulting at Savills Hanoi, the current supply of housing has not kept pace with this growing demand, leading to rising prices in the inner city.
In Q4 2024, Savills reported that the average secondary prices for urban projects in inner city districts of Hanoi ranged from 190 to 450 million VND/m² for land with houses, while apartments averaged between 65 to over 300 million VND/m². This price escalation is significantly impacting first-time buyers, particularly those seeking affordable housing options. Even with the possibility of bank loans or financial leverage, accessing housing in the inner city remains a challenge.
As the high prices in urban areas become increasingly unmanageable, there is a clear trend of buyers looking beyond the city center for housing options. Ms. Hang noted, “The trend of moving to the outskirts has become evident as land availability in the inner city diminishes. This shift is further propelled by urban planning policies aimed at reducing population density and enhancing infrastructure development in suburban areas.”
Hanoi's comprehensive urban planning aims to create a modern, smart, green, and sustainable city by 2045, with a focus on expanding urban areas to the west and south, while also developing transportation corridors to facilitate access to the city center. The government is actively investing in infrastructure in suburban areas to support this growth.
Significant projects in the outskirts, such as Vinhomes Ocean Park in Gia Lam, have already seen heightened demand, with sales rates exceeding 50% in Q4 2024. The Dong Anh area has emerged as a leader in primary transactions, accounting for 84% of the total market activity, followed by Me Linh and Thuong Tin.
While the potential for suburban development is promising, it is not without challenges. Large-scale infrastructure projects may take years to complete, and the high costs associated with these developments can strain budgets and inflate land prices. Additionally, speculative buying activity can lead to prices exceeding actual market values.
In light of these factors, Ms. Hang advises potential buyers to carefully consider the infrastructure progress, the reputation of developers, and the transparency of project legalities to minimize risks associated with purchasing homes in newly developed areas.
