Daily Real Estate Briefing: Dai Quang Minh’s Strong Profit, Billion-Dollar Projects and New Market Developments

Vietnam’s real estate market recorded several notable developments. Dai Quang Minh Real Estate reported consolidated after-tax profit of VND 1.043 trillion in the first half of the year, more than six times the figure recorded in the same period, while its total liabilities exceeded VND 51.5 trillion. In Hanoi, applications are expected to be accepted for 164 social housing units at the NHS Trung Van and NHS Phuong Canh projects, with prices starting at VND 16.6 million per square meter. However, not everyone is eligible to register for purchase. In Ho Chi Minh City, authorities have proposed support for buyers of homes and land acquired through handwritten documents between after July 1, 2014 and before August 1, 2024, at a level equivalent to land compensation when the property is recovered. Meanwhile, the city’s new framework for apartment management fees ranges from VND 600 to VND 13,700 per square meter per month in wards and communes, and reaches VND 24,700 per square meter per m...
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Daily Real Estate Briefing: Supply Rises While Housing Prices May Not Fall Sharply

Vietnam’s real estate market recorded several notable developments in supply, prices and policy. A series of large-scale, professionally developed projects are actively launching products, giving buyers more choices and raising expectations that cash flow will return as the market recovers. However, the prospect of a sharp decline in housing prices remains unclear, while liquidity has yet to break through. In Da Nang, land transactions increased eightfold compared with the previous month, but the market is still under pressure from a large inventory and low liquidity. In Ho Chi Minh City, following the city’s expansion, the average primary apartment price was recorded at VND 92 million per square meter, down to VND 76 million per square meter.

The supply of tourism real estate is also continuing to increase, with more than 21,000 apartments and 3,865 resort villas under construction in the second quarter. Experts said the segment is entering a new stage of development. In southern Ho Chi Minh City, a series of key infrastructure projects is helping reshape the area and create additional growth potential for real estate. Meanwhile, Da Nang has received a proposal seeking approval for an investment policy for a project to develop and operate infrastructure at Site No. 7 within the Free Trade Zone, covering approximately 276 hectares. Hanoi plans to prepare 81 detailed plans to concretize the capital’s master plan with a 100-year vision, including 34 new plans and approximately 22 zoning plans prioritized for earlier completion. In Khanh Hoa, a procedure for calculating or recalculating land-use fees has been approved, with a maximum processing time of 17 working days.

In the social housing sector, Standing Deputy Prime Minister Pham Gia Tuc requested the completion of a draft resolution assigning development targets for social housing and rental housing for the 2026-2030 period. The proposal also calls for increasing the proportion of rental housing in line with demand and adjusting targets to support this housing model. For young people, the decision to rent or buy remains a pressing issue as housing prices exceed their ability to accumulate savings. Many have therefore accepted long-term renting, although demand for homeownership remains clear. Other legal issues receiving attention include the rights of buyers of spiritual real estate, transfer mechanisms, prices and long-term maintenance responsibilities. In corporate news, Michael Vu Nguyen, Vice Chairman of FLC Group, has passed away. He joined FLC on August 1 and was in charge of aviation and airport infrastructure investment. Internationally, Evergrande remains in focus after Hui Ka Yan, who once held USD 45.3 billion and was Asia’s richest person, received a life sentence.

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