Daily Real Estate Brief: Global Mortgage Rates Rise, Luxury Apartments Cool and Major Projects Adjust

The real estate landscape today reflects contrasting developments in domestic and international markets. In the United States, the 30-year fixed mortgage rate rose to 7.28%, marking the strongest weekly increase in four years, raising homeownership costs and adding pressure to the property market. Australia also increased its interest rate by 0.25 percentage points to 4.6%, the highest level in 15 years, as inflation remained above target and energy prices stayed high. In contrast, several domestic banks have adjusted lending rates following calls to continue reducing funding costs. Experts believe real estate credit should be classified according to risk instead of being governed by a single framework.

In Ho Chi Minh City, high-end apartment prices have begun to cool after the surge seen during 2024 and 2025. Some units have fallen by nearly VND1 billion, although selling remains difficult. HoREA has proposed allowing developers to authorize other parties to sign deposit agreements, creating greater flexibility in sales while raising questions about responsibility toward buyers in the event of disputes. Meanwhile, the Ministry of Construction said that 19 key projects are behind schedule. Government leaders have requested faster construction while emphasizing the need to ensure project quality. The Government has also issued Resolution 303/NQ-CP dated September 30 on assigning localities targets for developing social housing and rental housing during the 2026 to 2030 period.

In the project and infrastructure sector, Vinhomes increased the total investment for the Cam Ranh Bay urban area from VND85.2 trillion to VND194 trillion. The proposed safari complex in Ba Vi by Sun Group, with expected investment of VND10 trillion, will continue to be reviewed through public disclosure of its scope and planning, as well as direct discussions with local residents. Urban railways and transit-oriented development models are increasingly seen as factors changing how the market evaluates property values. Industrial real estate is also shifting its focus from low prices toward quality, infrastructure and delivery speed. On the stock market, Novaland’s NVL shares avoided hitting the floor in the morning session on September 30, with more than 79 million shares matched at a value of VND777 billion.