Daily Real Estate Brief: Social Housing, Infrastructure and Interest Rate Pressure

The domestic real estate market is seeing several notable developments. In Hanoi, more than 6,140 square meters of land on Vinh Tuy Street has been approved for a change in land-use purpose to develop the UDIC Riverside 2 project, comprising high-rise housing, commercial and service facilities, and low-rise housing combined with services. In Ho Chi Minh City, two social housing projects in Long Truong and Hiep Binh wards are expected to begin accepting applications in the fourth quarter, with estimated prices of VND 24.48 million per square meter and VND 30.7 million per square meter, respectively. The Government has also adjusted the plan to develop one million social and rental housing units for the 2026-2030 period and assigned new targets to localities. Meanwhile, a proposal allowing developers to authorize other parties to sign deposit contracts has raised the need to clarify responsibility toward buyers when disputes arise.

Regarding investment and infrastructure, Vinhomes has raised the total investment of the Cam Ranh Bay urban area from VND 85.2 trillion to VND 194 trillion. In Ba Vi, the commune authorities will continue to publicize the scope and planning and work with residents on the proposal to develop a safari complex with an estimated investment of VND 10 trillion. Several sand mines in Quang Ngai were auctioned at nearly VND 1.1 million per cubic meter, three times the commercial sand prices currently offered by local mines. The Ministry of Construction said 19 key projects are behind schedule, as the Government calls for faster construction while requiring quality to be maintained. Metro lines, transit-oriented development models, the expanded National Highway 13, the Ho Chi Minh City-Chon Thanh expressway and ring roads are expected to expand development space, increase the appeal of real estate in northeastern Ho Chi Minh City and reshape perceptions of expensive and affordable land.

Internationally, the 30-year fixed mortgage rate in the United States rose to 7.28%, marking the strongest weekly increase in four years and adding pressure to homeownership costs. Australia also raised its interest rate by 0.25 percentage points to 4.6%, the highest level in 15 years, putting further pressure on homebuyers. In Vietnam, Novaland's NVL shares avoided the floor price in the morning session on September 30, with more than 79 million shares matched, worth VND 777 billion. From a living-space perspective, information on cleaning bedrooms, bathrooms and kitchen towels, as well as improving lighting, highlights the importance of maintaining a clean and comfortable home, while health amenities and apartment design are receiving increasing attention.

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