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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Real Estate News Roundup: Condominium Regulations, High Interest Rates and New Market Movements

Vietnam’s real estate market is seeing notable developments in condominium regulations, social housing, credit and the handling of public assets. Rules on condominium service life are being clarified to ensure safety, support inspections and address deteriorating buildings, but the expiry of a building’s service life does not mean residents automatically lose ownership of their apartments. Meanwhile, the Ministry of Finance has asked central agencies and local authorities to urgently review and approve plans for handling surplus houses and land after administrative restructuring, with completion targeted within this year. A draft amendment to the Housing Law also proposes that foreigners would no longer be allowed to own villas and attached houses in projects as they currently can, while condominium ownership would remain permitted.

In Hanoi, the legal situation surrounding the HH Linh Dam complex continues to draw attention. Many households have waited more than 10 years for ownership certificates and are now anxious about whether their buildings will be allowed to remain or will have to be relocated. Residents are seeking a clear plan, suitable accommodation and protection of their rights. If demolition is required, the released area is expected to be prioritized for community facilities, cultural and educational institutions, technical infrastructure, parking and other functions. Asking prices for many apartments in the complex have fallen by hundreds of millions of dong, and in some cases by more than VND1 billion after over a year, although legal risks are considered more significant than the price issue. In Ho Chi Minh City, many apartment buildings more than 50 years old are deteriorating, while outstanding real estate credit for restaurants, hotels, tourism and resort projects reached VND30 trillion at the end of August, up 12.5% year on year.

Financial pressure remains a major factor for homebuyers, with floating mortgage rates exceeding 16% per year and car loan rates reaching as high as 18% per year. In social housing, more than 3 million households are reported to need accommodation, prompting experts to propose developing rental housing to improve access. Can Tho has requested tighter controls against policy profiteering and illegal brokerage. Elsewhere, Lam Dong granted investment certificates to three industrial park projects worth VND630 billion and announced a target of developing 35 industrial parks by 2030. Centrally located land plots in Hue have been put up for auction but have yet to attract many investors. Internationally, premium office space in the United States is seeing rents reach new highs as supply runs short, while China is moving toward a new real estate development model centered on existing housing stock.

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