Daily Real Estate Briefing: Bond Pressure, Ho Chi Minh City Planning and Key Projects
Vietnam’s real estate market recorded a series of notable developments, ranging from financial pressure to infrastructure progress and urban redevelopment. Nearly VND 47 trillion in real estate bonds will mature in the fourth quarter, while the total value of bonds maturing over the next 12 months is expected to reach VND 235 trillion. Some businesses are facing additional pressure as real estate bond interest rates rise to 12.5% per year, higher than bank interest rates. From a policy perspective, Minister of Finance Ngo Van Tuan said that identifying unused land for the application of a 0.2% tax must be based on land legislation and carried out through coordination between tax authorities and land management agencies.
In Hanoi, the Truong Dinh apartment complex, consisting of 10 two-story buildings and approximately 257 apartments, is on the list of buildings to be demolished. The area is expected to be redeveloped with a project comprising a 30-story above-ground building and three basement levels. Meanwhile, Ho Chi Minh City is accelerating public investment disbursement and the progress of six key projects, including the Moc Bai Expressway, Metro Line No. 2 and the Xuyen Tam Canal. The city has also allocated four land lots in Thu Thiem, with a total area of nearly 43,000 square meters, to Dai Quang Minh Company as payment for the BT contract for the Thu Thiem 2 Bridge project, now known as Ba Son Bridge. The city’s master plan with a 100-year vision has also been required to serve as a development-oriented tool, organize urban space effectively and create new growth momentum. In addition, a series of prime properties in central Ho Chi Minh City linked to Truong My Lan have been put up for auction, with a combined starting price reaching thousands of billions of dong.
Elsewhere, all 15 rural land lots in Ha Tinh were sold after two unsuccessful auctions, including nine lots purchased by one individual for nearly VND 21 billion. Mang Den Commune in Quang Ngai also put 16 land plots up for auction, with a combined starting price of nearly VND 194 billion and the highest starting price exceeding VND 37 million per square meter. Internationally, rising home prices and mortgage rates are prompting many US families to establish funds to buy homes for their children, while the rental housing segment is expected to gain room for growth as home prices exceed the affordability of many people. Housing and interior trends are also drawing attention, from optimizing functions in VND 3 to 4 billion apartments and using earthy brown and green paint colors in 2027 to making cost-saving changes that create a more elegant living space. In project development, TT GENESIS’s Japanese joint venture brings experience from more than 100,000 apartments in Japan as well as projects in Sydney and Los Angeles. Phu Long held the inauguration and handover ceremony for Essensia Sky and Parkway Saigon WorldHotels Residences on November 6, while Central District introduced 357 townhouse and shophouse products at One Era, a nearly 50-hectare township in northeastern Ho Chi Minh City.
In Hanoi, the Truong Dinh apartment complex, consisting of 10 two-story buildings and approximately 257 apartments, is on the list of buildings to be demolished. The area is expected to be redeveloped with a project comprising a 30-story above-ground building and three basement levels. Meanwhile, Ho Chi Minh City is accelerating public investment disbursement and the progress of six key projects, including the Moc Bai Expressway, Metro Line No. 2 and the Xuyen Tam Canal. The city has also allocated four land lots in Thu Thiem, with a total area of nearly 43,000 square meters, to Dai Quang Minh Company as payment for the BT contract for the Thu Thiem 2 Bridge project, now known as Ba Son Bridge. The city’s master plan with a 100-year vision has also been required to serve as a development-oriented tool, organize urban space effectively and create new growth momentum. In addition, a series of prime properties in central Ho Chi Minh City linked to Truong My Lan have been put up for auction, with a combined starting price reaching thousands of billions of dong.
Elsewhere, all 15 rural land lots in Ha Tinh were sold after two unsuccessful auctions, including nine lots purchased by one individual for nearly VND 21 billion. Mang Den Commune in Quang Ngai also put 16 land plots up for auction, with a combined starting price of nearly VND 194 billion and the highest starting price exceeding VND 37 million per square meter. Internationally, rising home prices and mortgage rates are prompting many US families to establish funds to buy homes for their children, while the rental housing segment is expected to gain room for growth as home prices exceed the affordability of many people. Housing and interior trends are also drawing attention, from optimizing functions in VND 3 to 4 billion apartments and using earthy brown and green paint colors in 2027 to making cost-saving changes that create a more elegant living space. In project development, TT GENESIS’s Japanese joint venture brings experience from more than 100,000 apartments in Japan as well as projects in Sydney and Los Angeles. Phu Long held the inauguration and handover ceremony for Essensia Sky and Parkway Saigon WorldHotels Residences on November 6, while Central District introduced 357 townhouse and shophouse products at One Era, a nearly 50-hectare township in northeastern Ho Chi Minh City.
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