Daily Real Estate Briefing: Interest Rates, Cash Flow and the Infrastructure Race

The day’s real estate highlights center on cash flow, interest rates and the ability to generate returns from property assets. With deposit rates potentially reaching 9% per year, owners of apartments worth VND 3 billion are considering whether to continue holding their properties or sell and place the proceeds in savings. The decision, however, depends on the prospects for price appreciation and the effectiveness of property exploitation. Meanwhile, home loan rates in September remain high, averaging around 11% per year, although some banks began reducing lending rates at the end of August. Novaland has completed the sale of four assets worth more than VND 11.2 trillion to address financial obligations, but continues to face substantial debt and cash flow pressure. A real estate company within the Geleximco ecosystem, which is the developer of Doi Rong International Tourism Area in Hai Phong, reported a loss of more than VND 93 billion and outstanding debt of up to USD 1 billion. On the capital-raising front, Dai Quang Minh plans to mobilize VND 1 trillion through bonds, with Thaco guaranteeing all payment obligations and secured assets valued at VND 2 trillion. The developer of the Can Gio land reclamation mega-project also recorded profits of more than VND 30 trillion in the first half of the year, nearly five times higher than the same period last year.

In planning and infrastructure development, Ho Chi Minh City has been advised to develop rental housing near metro stations under the transit-oriented development model, while ensuring that prices remain affordable for daily metro users. New minimum-area rules for land subdivision are expected to limit the creation of excessively small plots and help reduce ultra-narrow and irregularly shaped houses. In Hanoi, several suburban land plots are scheduled for auction in September, with starting prices of more than VND 9 million per square meter. The city is also seeking opinions on a procedure for handling loans exceeding lending limits for major projects, with a maximum processing time of 27 days. The Hanoi, Quang Ninh high-speed railway is expected to include five stations, with the two terminal stations, Co Loa and Ha Long Xanh, covering a combined area of more than 73 hectares. At the same time, companies including Vingroup, ACV, Deo Ca, CII and PV GAS are accelerating investment in expressways, sea-crossing roads, airports, LNG power and other infrastructure projects. The expansion of Phu Quoc Airport is facing land clearance difficulties, affecting the progress of several projects serving APEC 2027, prompting the appraisal council to agree that the airport planning needs adjustment.

In the resort segment and international markets, Vinpearl LegendLux at Vinhomes Hai Van Bay is expected to open in November 2027 as a six-star hotel on Ngoc Island. HoREA has proposed changing the management framework for tourist apartments and serviced offices according to their functions, while allowing short-term property rentals through online platforms and recognizing electronic contracts to address obstacles affecting hundreds of thousands of resort apartments. In Hong Kong, the high-end housing market is heating up as more foreigners, mostly financial executives from Europe and the United States, move there. From a housing and lifestyle perspective, other notable topics include choosing durable kitchen countertop materials, identifying when a non-stick pan should be replaced, and turning one hanger into 14 hanging spaces to expand wardrobe storage. The digitization of land and housing documents is also expected to reduce paperwork, make it easier for banks to assess assets and improve the transparency and safety of transactions.