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 Briefing: Tax Debts, Apartment Prices and New Developments in Capital and Infrastructure

The real estate market continues to see notable developments in Ho Chi Minh City. A number of property companies are topping tax debt lists published by tax authorities, including one enterprise owing more than VND329 billion. Ly Khuong Production and Trading Co., Ltd., which was recently fined for illegally selling 682 apartments, currently owes VND46.6 billion and tops the list at Tax Administration Unit 13 in Ho Chi Minh City. Meanwhile, the Ho Chi Minh City Department of Construction requires property developers and real estate exchanges to use electronic identification and log into the system through VNeID to report and disclose project information, with the aim of improving market transparency.

In the housing segment, prices of older apartments have declined amid slow purchasing power, while prices of new apartments remain high. Average primary apartment prices in the third quarter exceeded VND100 million per square meter as new supply was concentrated in luxury and ultra-luxury projects. High lending rates and prolonged projects have pushed up costs, while buyers continue to wait for prices to fall, making it difficult for developers to reduce prices and prompting them to adjust sales policies instead. Ho Chi Minh City also plans to raise the interest support funding for social housing projects from VND200 billion to VND300 billion and extend the support period from seven to 10 years. At The Sun Avenue apartment complex, residents reacted after monthly motorbike parking fees rose from VND64,800 to VND120,000, while car parking fees increased from VND1.32 million to VND1.5 million.

Regarding capital flows, slower real estate credit growth and limits on equity issuance are prompting many property companies to increase bond fundraising despite high borrowing costs. On the stock market, several real estate shares traded more positively, notably Novaland’s NVL, which hit the ceiling price after a consecutive losing streak. In infrastructure, the Government is urging the early selection of international consultants to prepare a feasibility study for the North-South high-speed railway, with a preliminary total investment of more than USD67 billion. The Lao Cai, Hanoi and Hai Phong railway project still faces a medium-term funding shortfall of more than VND76 trillion for the 2026 to 2030 period, although the Ministry of Construction has not yet proposed additional funding. In addition, Vinhomes Saigon Park is finalizing the schedule for multiple amenities, including Galaxy Park Observatory, which is expected to be completed in the fourth quarter, while its entertainment destinations are scheduled to open in the fourth quarter of 2027.

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