Daily Real Estate Briefing: Auction Price Cuts, Ho Chi Minh City Infrastructure Bottlenecks and New Policies
The real estate market continues to record notable developments in major urban areas, with Ho Chi Minh City standing out for issues related to auctions, infrastructure and asset management. Two properties on Dong Khoi Street associated with Truong My Lan have had their prices reduced by nearly 9% by the enforcement authorities after no bidders registered in the previous auction. In Thu Thiem, participants in the auction of four prime land lots must provide a deposit equal to 20% of the starting price and may be disqualified or lose their deposits if they violate the auction rules. In Hanoi, Agribank is offering a villa in the Ciputra urban area at a starting price of VND170 billion, VND14 billion lower than the previous offering in September 2024.
In urban development, Ho Chi Minh City has approved a mechanism for issuing municipal bonds and construction bonds at the International Financial Center to mobilize additional resources for key infrastructure projects. However, 20 major transport projects scheduled for the final four months of the year require coordination of nearly 8 million cubic meters of materials, with sand remaining a major bottleneck. The city has also identified 64 aging apartment buildings, comprising 106 blocks and 8,577 apartments, for relocation and demolition, although no case requiring urgent demolition has been recorded. In areas developed under the TOD model, whether existing homes will need to be cleared will be determined during detailed planning. At the same time, Ho Chi Minh City allows procedures for transferring, inheriting and gifting land use rights, as well as registering assets attached to land, without being restricted by administrative boundaries. The Tax Department has also asked local authorities to review and standardize data to address cases in which residents have paid land taxes but are still recorded as owing taxes.
At the corporate level, real estate stocks moved in opposite directions after several banks reduced interest rates, with some tickers falling 3-6% over the past week. Novaland attracted attention as its nine-month profit exceeded 155% of the annual plan, while Vincom Retail posted more than VND1.5 trillion in after-tax profit in the third quarter and VND4.737 trillion cumulatively in the first nine months of 2026. The property market also showed uneven absorption, as nine surplus properties managed by Nghe An’s Land Fund Development Center had been offered for lease seven times but only one attracted a registrant. The Ministry of Finance has proposed leasing certain surplus houses and land for up to five years while procedures are being completed. At the HH Linh Dam complex, residents are hopeful about the mechanism for addressing project violations but remain concerned about possible relocation and the protection of their legitimate rights.
In urban development, Ho Chi Minh City has approved a mechanism for issuing municipal bonds and construction bonds at the International Financial Center to mobilize additional resources for key infrastructure projects. However, 20 major transport projects scheduled for the final four months of the year require coordination of nearly 8 million cubic meters of materials, with sand remaining a major bottleneck. The city has also identified 64 aging apartment buildings, comprising 106 blocks and 8,577 apartments, for relocation and demolition, although no case requiring urgent demolition has been recorded. In areas developed under the TOD model, whether existing homes will need to be cleared will be determined during detailed planning. At the same time, Ho Chi Minh City allows procedures for transferring, inheriting and gifting land use rights, as well as registering assets attached to land, without being restricted by administrative boundaries. The Tax Department has also asked local authorities to review and standardize data to address cases in which residents have paid land taxes but are still recorded as owing taxes.
At the corporate level, real estate stocks moved in opposite directions after several banks reduced interest rates, with some tickers falling 3-6% over the past week. Novaland attracted attention as its nine-month profit exceeded 155% of the annual plan, while Vincom Retail posted more than VND1.5 trillion in after-tax profit in the third quarter and VND4.737 trillion cumulatively in the first nine months of 2026. The property market also showed uneven absorption, as nine surplus properties managed by Nghe An’s Land Fund Development Center had been offered for lease seven times but only one attracted a registrant. The Ministry of Finance has proposed leasing certain surplus houses and land for up to five years while procedures are being completed. At the HH Linh Dam complex, residents are hopeful about the mechanism for addressing project violations but remain concerned about possible relocation and the protection of their legitimate rights.
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