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: New Policies, Apartment Prices and Market Capital Flows

Vietnam’s real estate market is seeing notable developments across legal policy, credit and housing demand. Residents can now access VNeID to read the full texts of three important draft laws related to land and housing, select their level of approval and submit feedback. However, in property transactions, the paper land-use certificate still needs to be carried until the fully electronic certificate issuance process is activated. Notably, the draft amended Housing Law proposes several compensation options when old apartment buildings are demolished, allowing residents to choose housing, land or cash. The Ministry of Construction has also stated that residents’ property rights are not lost when an apartment building reaches the end of its service life and will be handled in accordance with regulations.

From a market perspective, high lending rates and the continuous arrival of new supply are making buyers, particularly young people, more cautious despite continued demand and accumulated savings. Purchasing power is considered to remain, but is becoming increasingly selective. Apartment prices in Ho Chi Minh City and Hanoi are forecast to enter an adjustment phase and become more differentiated as supply improves and purchasing power comes under pressure. In Ho Chi Minh City, a significant adjustment could emerge during the 2028 to 2030 period. Social housing continues to show strong demand, with more than 12,000 people registering to compete for 750 apartments. Meanwhile, the Minh Duc social housing project in Me Linh is expected to offer 551 apartments for sale out of a total of 612, with a provisional price of nearly VND 24 million per square meter.

Real estate capital may also expand into hotels, resorts and tourism under a new policy from the State Bank of Vietnam, potentially providing additional support for the housing market. Hodeco plans to transfer Hodeco Seavillage in Vung Tau for VND 1.05 trillion after divesting a project worth nearly VND 2 trillion, with the aim of optimizing cash flow and concentrating resources. Saigontourist Group, meanwhile, reported nearly VND 507 billion in profit in the first half of the year, up more than 67% year on year. Technology is also changing the home-search journey as buyers use ChatGPT for calculations, raising the risk of a significant reduction in the role of brokers. Alongside business developments, the market is seeing new property experience models such as the approximately 2,500-square-meter WOW Center in southern Ho Chi Minh City, as well as growing attention to space optimization, home safety and Singapore’s land expansion strategy.

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