Daily Real Estate Briefing: New Policies, Urban Planning and Bond Maturity Pressure

The day’s key real estate developments center on policy and planning measures in major cities. The Government has assigned the Ministry of Construction to report in November on housing supply, liquidity, prices, transactions and property inventory, providing an overall update on the market’s health. In Ho Chi Minh City, authorities have proposed support for people who purchased houses or land through handwritten documents between after July 1, 2014 and before August 1, 2024, with support equivalent to land compensation when the property is recovered. The city is also considering land-rent exemptions, tax incentives and shorter procedures for outlet shopping center projects, while accelerating public investment disbursement and key projects such as the Moc Bai Expressway, Metro Line 2 and the Xuyen Tam Canal. In addition, four land lots in Thu Thiem, with a total area of nearly 43,000 square meters, have been allocated to Dai Quang Minh Company to settle the BT contract for the Thu Thie...
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Daily Real Estate Briefing: Infrastructure Accelerates as Policy and Capital Flows Shift

The key highlight of the real estate market over the past week was the wave of groundbreaking ceremonies and accelerated development of large-scale infrastructure projects in major economic centers. Ho Chi Minh City has launched more than VND 181 trillion for key transport and urban projects on the occasion of September 2, a move expected to create new momentum for the city’s real estate market and economy. At the same time, a series of projects from Ho Chi Minh City, Hanoi and Phu Quoc to Ha Long and Can Gio are expanding urban space and shortening distances between growth poles. In the north, seven expressway routes are under construction through 14 projects or component projects, while the Long Thanh Airport project is being required to review each contract package and resolve obstacles to ensure operations can begin in 2026.

Hanoi is concretizing its Capital Master Plan through 81 detailed plans and has selected Thanh Pho Mat Troi Co., Ltd., a member of Sun Group, to carry out the renovation of the West Lake area and the lakeside scenic road, with total investment exceeding VND 30 trillion. The city has also built a database covering approximately 3.25 million land parcels and is continuing to process nearly 1.8 million additional parcels. In Dak Lak, 39 land areas in six central wards, covering more than 125 hectares, will be auctioned for land-use rights with a combined starting price of over VND 9.3 trillion.

From a policy and market perspective, Ho Chi Minh City has applied unified regulations on land parcel subdivision and consolidation since August 28, requiring a minimum area of 36 square meters for residential land and 500 square meters for agricultural land. Experts have proposed classifying real estate credit risks instead of applying across-the-board tightening, with capital prioritized for projects that have adequate legal status and serve actual housing demand. Buyers are also increasingly turning to properties with use value, exploitation potential and cash-flow generation. Although the market has seen some corrections, housing prices are considered unlikely to return to previous levels because land, construction, capital and legal costs remain high. At the end of August, Vietcombank introduced a VND 20 trillion package with interest rates reduced by 1 percentage point per year, while VIB offered a five-year fixed interest rate policy. On the other hand, the owner of Saigon Marina IFC reported a loss of more than VND 200 billion in the first half of the year and still had over VND 10 trillion in outstanding bond debt.

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