Similar land costs $1,800-3,000 in the neighboring provinces of Long An, Dong Nai, Binh Duong and Ba Ria-Vung Tau, , according to real estate service provider JLL.

Amid the fourth wave of Covid-19, many property investors have begun selling their products online, offering longer payment terms.

In Q2, 1,843 single-detached houses were open for sale in HCMC and the neighboring provinces. Most of the transactions involving townhouses and villas took place in April and weakened from mid-May to late June.

The complicated developments of the ongoing Covid-19 wave hindered tours of real estate projects, partly leading to the transaction slowdown.

Since the number of land plots in HCMC and introduction of new projects in the neighboring provinces will be limited, the average primary selling price of single-detached houses in the southern region is likely to increase further in the coming time, the report said.