The Ministry of Construction said apartment prices are likely to continue soaring in 2025, following a hike last year.

The real estate market in Ho Chi Minh City has witnessed positive changes over the past nine months.

Local construction firms face the risk of bankruptcy as the price of steel has soared 40 percent recently.

The home purchase prices inched up in April, particularly the cost of houses in Hanoi, according to the Department of Housing and Real Estate Market Management under the Ministry of Construction.

The cost of building houses is expected to increase due to the recent rise in steel prices, which will in turn likely cause a spike in home purchase prices.