Daily Real Estate Briefing: Social Housing, Urban Planning and Financial Pressures

Vietnam’s real estate market saw notable developments in social housing, planning and corporate activity. The Government has proposed that buyers of social housing may resell their homes only to eligible buyers five years after fully paying for the property and receiving the ownership certificate. However, access to the policy remains a major issue, as nearly half of the 500 surveyed construction workers had not obtained information about their rights, support contacts or application procedures for social housing. In the luxury segment, apartments in Thu Thiem are commonly priced at 200 million to 500 million VND per square meter, with many units priced above 100 billion VND. In Ho Chi Minh City, apartment prices along Metro Line 1 have continued to surge after nearly two years of operation, with some projects recording increases of more than 400%, making housing near stations increasingly difficult for low-income earners to afford. Regarding planning and projects, Da Nang’s master p...
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Daily Real Estate Brief: Thu Thiem Land Auctions, Bond Maturity Pressure and Metro-Driven Price Growth

Vietnam’s real estate market continues to see several notable developments. In Ho Chi Minh City, more than 19 hectares of land in the Saigon Hi-Tech Park were recovered for the Millennium Park project after the project ceased operations and the enterprise voluntarily returned the leased land. Three land plots in Thu Thiem, whose auction results were canceled in 2021, will also be auctioned again, with a combined area of more than 23,600 square meters and a starting price of over VND 14.5 trillion. Meanwhile, Dai Quang Minh Real Estate Company was fined VND 875 million for delaying notification to the Department of Construction regarding the sale of 87 apartments to foreign organizations and individuals in Thu Thiem.

In other localities, Ca Mau announced the leasing of 22 surplus houses, land parcels and office facilities for periods of three to five years, while Dak Lak is leasing several surplus offices at prices ranging from tens of millions to more than VND 1.2 billion per year. Financial pressure remains a major issue for the market, with the real estate sector facing approximately VND 46.9 trillion in bond maturities in the fourth quarter, nearly half of the total maturity value across the market. Ha Do Group must also pay more than VND 3 billion in tax arrears, administrative penalties and late payment charges due to violations related to tax declarations and invoice issuance. On the stock market, Novaland’s NVL shares rebounded after three consecutive declining sessions as the company adjusted the schedule for exercising rights to purchase more than 800 million shares.

Regarding housing trends, apartment prices along Ho Chi Minh City’s Metro Line 1 have risen sharply after nearly two years of operation, with some projects recording increases of more than 400%, making homes near stations increasingly difficult for low-income buyers to access. Housing supply is expected to rise substantially in 2027, with more than 100,000 apartments and townhouses anticipated to be launched, but high prices, elevated borrowing costs and the concentration of high-end products remain barriers. Proposed solutions include increasing affordable housing supply, reducing development costs, controlling land prices and credit, and limiting speculation and price inflation. Internationally, existing-home sales in the United States fell to a record low in September as high mortgage rates continued to weigh on demand, while home prices in major Chinese cities remained lower year on year, although the pace of decline slowed.

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