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: Rising supply, slower apartment price growth and strong social housing demand

The real estate market continues to see notable developments as supply rises sharply after a prolonged period of compression. Nearly 100,000 products have been introduced to the market, raising concerns about oversupply, although liquidity at many new projects shows that demand for quality products remains. In Ho Chi Minh City, apartment price growth is slowing as supply improves and purchasing power weakens, while forecasts suggest that a significant correction could emerge between 2028 and 2030. Hanoi is also expected to enter a period of adjustment and clearer market segmentation over the next two years. In the social housing segment, more than 12,000 people registered to compete for 750 apartments, highlighting strong demand while developers continue to face obstacles related to capital, profit margins, procedures and land funds. In Me Linh, the Minh Duc social housing project includes 612 apartments, of which 551 are expected to be offered for sale at an estimated price of nearly VND 24 million per square meter.

Regarding policy and urban development, residents can now access VNeID to read the full text, select their level of agreement and submit comments on three important draft laws related to land and housing. The draft amended Housing Law also proposes several compensation options when old apartment buildings are demolished, allowing residents to choose housing, land or cash. The Government has also asked ministries, sectors and localities to urgently complete procedures, site clearance and the feasibility study report for the North South high speed railway project. In Ho Chi Minh City, a meeting chaired by Standing Deputy Prime Minister Pham Gia Tuc focused on resolving payment arrangements for several stalled BT projects in the Thu Thiem New Urban Area. A company owning land at 79 Lac Trung in Hanoi has ended garment production at the site to develop a high end commercial housing project.

From a financial and corporate perspective, a new State Bank policy is expected to create additional credit room for hotels, resorts and tourism, thereby supporting related real estate segments. 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. Meanwhile, lending rates show no clear sign of cooling, prompting many young people to reconsider their home buying plans even though the need for stable housing remains strong. Technology is also changing the home search journey as buyers increasingly use ChatGPT for calculations, putting pressure on the role of brokers. Alongside market developments, living space issues are also drawing attention, including warnings against using the area beneath kitchen sinks for storage, hazardous decorating mistakes, solutions for arranging small bedrooms and the green park system at Beachtro Tower.

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