Of the total apartments entering the market in Ho Chi Minh City thus far in the fourth quarter of the year, more than 90 percent have been in the high-end and luxury segments, according to analysis from VN Express. These apartments are in the VND 80 million-plus, or US$3,156, per square metre price range.

The publication goes on to lament the lack of affordable housing which has become a recurring theme in local media as the housing market thaws but not for everyday Vietnamese.

Lao Dong has also reported on the high price of apartments in HCMC referencing a report from real estate services provider DKRA. The report found that high-end selling prices are closing in on VND 500 million or US$19,728 per square metre at the upper end.

The publication also notes that HCMC needs to add about 50,000 new apartments each year to accommodate its growing population.

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