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 ...
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Real Estate Briefing: Debt Pressure, Accelerating Infrastructure and the Digitalization of Land Data

The real estate market continues to be marked by corporate financial pressure and cash flow challenges. A company belonging to the Geleximco ecosystem, which is also the developer of the Do Son International Tourism Area in Van Huong Ward, Hai Phong City, reported a loss of more than VND 93 billion and outstanding debt of up to USD 1 billion. Novaland has completed the sale of four assets worth more than VND 11.2 trillion to repay debt, but it still faces significant debt pressure. Meanwhile, Dai Quang Minh plans to raise VND 1 trillion through bonds, with Thaco guaranteeing all payment obligations and secured assets valued at VND 2 trillion. Bond maturity pressure also continues to weigh on many real estate companies toward the end of 2026, as bonds worth thousands of billions of dong become due while cash flow has not yet recovered.

In infrastructure and policy, several large-scale projects are attracting attention. The Hanoi to Quang Ninh high-speed railway is expected to have five stations, with the two terminal stations, Co Loa and Ha Long Xanh, covering a combined area of more than 73 hectares. Companies including Vingroup, ACV, Deo Ca, CII and PV GAS are also accelerating investment in national highways, expressways, sea-crossing roads, Long Thanh Airport and LNG power. In Ho Chi Minh City, new minimum area regulations for land subdivision are expected to limit the creation of excessively small plots and help reduce ultra-narrow and irregular houses. Along National Highway 13, property prices have risen by more than 33% over the past five years, reaching nearly VND 300 million per square meter in some locations, even though the road has not yet been widened to 60 meters. Can Tho is carrying out procedures to select investors for the Mai Dam River and Rach Cai Nai urban areas, which cover nearly 340 hectares in total and have preliminary implementation costs of more than VND 16.4 trillion.

Notably, the digitization of land administration is gaining momentum, with each land parcel and structure assigned a unique 12-digit electronic identification code, allowing residents to access public location information through VNeID. Some banks have begun reducing home loan interest rates, but the general level remains high, averaging around 11% per year. HoREA has proposed changing the management model for tourist apartments and serviced offices, while recognizing electronic contracts for short-term real estate rentals through online platforms. Internationally, Hong Kong’s luxury housing market is heating up as more foreigners, mainly from Europe and the United States, relocate there. Information about Vinh May, Vinhomes Hai Van Bay and Blanca City also reflects the trend toward projects combining living, resort services, healthcare, entertainment and long-term cash flow opportunities. Buyers are advised not to rely solely on expected price increases for homes near metro lines, but to consider connectivity, travel costs and infrastructure progress.

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