In recent years, a significant trend has emerged across various countries, including the United States and France, where residents are increasingly opting to move from bustling city centers to the tranquility of suburban areas. This migration reflects a desire for more space, affordability, and a healthier living environment, particularly highlighted in the wake of the COVID-19 pandemic.
As of 2025, this suburban shift in the U.S. has gained momentum, driven by the Department of Government Efficiency (DOGE) initiative, which aims to reduce federal spending by eliminating numerous public sector jobs. This initiative, spearheaded by prominent figures like Elon Musk and Vivek Ramaswamy, has led to growing instability in the federal labor force, particularly in Washington, D.C.
According to data from Realtor.com, the number of homes for sale in the D.C. area surged by over 56% in March 2025 compared to the previous year, with new listings up 12% year-over-year, as reported by RE/MAX. This spike is largely attributed to fears of job losses among the approximately 141,000 federal employees in the area, prompting many to sell their homes in search of opportunities elsewhere.
Across the Atlantic, France is witnessing a similar trend. A recent survey revealed that 81% of respondents preferred living in suburban areas, despite Paris being one of the world's most beautiful cities. The appeal of fresh air, reduced pollution, and spacious living has led many French citizens to seek homes outside the urban core.
In the United Kingdom, a report from The Sunday Telegraph indicated that at least 6 out of 10 homebuyers in 2024 chose suburban properties over those in city centers. The real estate market in regions such as Surrey and Essex has flourished, with house prices rising by an average of 15-20% due to high demand.
This suburban migration is not merely a real estate trend; it directly correlates with improved quality of life. Research from Harvard University indicates that individuals living in greener environments enjoy better mental and physical health, with reduced exposure to air pollution, noise, and urban stressors. Moreover, the spaciousness of suburban living fosters better family relationships, as members can spend more time together away from the hectic city life.
In Vietnam, a similar trend is emerging, albeit at a slower pace. In cities like Hanoi and Ho Chi Minh City, skyrocketing real estate prices in the city center have forced many residents to consider suburban areas such as Hung Yen, Hoa Lac, Dong Nai, and Binh Duong. These regions not only offer more affordable housing but also benefit from improved transportation infrastructure, making commutes to city centers more manageable.
Previously, many Vietnamese preferred living close to urban centers for work convenience and access to services. However, the rise of flexible working models and a growing demand for healthier living environments have made suburban life increasingly appealing. New satellite urban areas are being developed to meet this demand, providing green living spaces with necessary amenities at prices significantly lower than those in the city.
While the suburban shift continues to gain traction, the apartment market in Ho Chi Minh City has faced challenges. A report from Knight Frank Vietnam indicated that in the first quarter of 2025, the city experienced a notable decline in both supply and demand for apartments, with new supply reaching a five-year low. Only 689 apartments were sold successfully during this period, reflecting a 16% absorption rate—down nearly 47% from the average consumption recorded in 2024.
Moreover, only 619 new apartments were offered for sale in Ho Chi Minh City during the past quarter, marking the lowest number since 2020. DKRA Group reported approximately 6,800 primary apartments available, but only about 1,000 of these were successfully sold, resulting in a consumption rate of 15%—a figure nearly 60% lower than the previous quarter.
Knight Frank noted that 80% of successfully sold units were new offerings, while inventory accounted for only about 11% of sales. Notably, over 90% of the primary inventory available during this quarter fell into the mid- to high-end segments, with affordable housing (priced below 55 million VND per square meter) constituting only 10% of the market.
The average price of apartments in Ho Chi Minh City was approximately 3,648 USD per square meter (over 91 million VND), reflecting a 12% increase compared to the same period last year. A significant portion of the apartments offered—73%—were in the high-end segment, priced above 75 million VND per square meter, while only 22% were priced between 40-70 million VND per square meter, and less than 5% were below 40 million VND per square meter.
Market analysts suggest that homebuyers in Ho Chi Minh City are increasingly seeking more affordable options in suburban areas, as urban housing becomes less accessible for the average income earner. Knight Frank forecasts that the city will see the addition of approximately 5,900 new apartments in the coming months, with an overall supply projected to exceed 63,000 units by 2028. By that time, the average apartment price could reach 4,300 USD per square meter (approximately 110 million VND).
Despite the anticipated recovery in the apartment market due to new legal frameworks and infrastructure projects, challenges remain. The limited supply and competition from more affordable housing in neighboring markets may hinder significant breakthroughs. As a result, secondary transactions—where buyers resell their homes—are expected to become more active, particularly for projects with resolved legal issues and competitively priced units.
In summary, the trend of relocating from city centers to suburbs is reshaping the real estate landscape in various countries, driven by a quest for better living conditions and affordability. From the U.S. to Vietnam, people are re-evaluating their living situations, seeking greener, more spacious environments that align with their evolving lifestyles.
