Real Estate Briefing: Central Ho Chi Minh City Land Auctions and Key Projects Accelerate
Vietnam’s real estate market recorded several notable developments, particularly in Ho Chi Minh City. A series of prime properties in the city center associated with Truong My Lan were put up for auction, with total starting prices reaching thousands of billions of Vietnamese dong. As previous auctions were unsuccessful, two other properties were announced for another reduction in their starting prices by nearly VND15 billion. In a related development, Ho Chi Minh City allocated four land lots in Thu Thiem, with a combined area of nearly 43,000 square meters, to Dai Quang Minh Company as payment for the BT contract of the Thu Thiem 2 Bridge project, now known as Ba Son Bridge.
Ho Chi Minh City is also accelerating public investment disbursement and the progress of key projects, including the Moc Bai Expressway, Metro Line 2 and the Xuyen Tam Canal. The city’s master plan with a 100-year vision is expected to become a tool for development planning, efficient spatial organization and the creation of new growth drivers. Meanwhile, the 456-hectare Saigon Safari project, which has remained unrealized for more than 20 years, continues to be included in the list of projects seeking investment. The commercial property leasing market is facing a paradox, as many townhouse owners accept leaving premises vacant rather than making deep rent cuts, while businesses need affordable prices and long-term contracts. In land auctions, 20 plots in Thanh Oai, Hanoi attracted only 47 participants, with the highest winning price reaching VND56.08 million per square meter, nearly 40% below the area’s previously recorded peak. In Ha Tinh, 15 rural land plots were sold after two unsuccessful auctions, including nine plots purchased by one individual for nearly VND21 billion. Meanwhile, Mang Den Commune in Quang Ngai offered 16 plots for auction with a combined starting price of nearly VND194 billion.
Elsewhere, procedures are being expedited to prepare for the launch of three large urban projects in the Chu Lai Open Economic Zone, with total investment exceeding VND40 trillion. Regarding policy, Finance Minister Ngo Van Tuan said that identifying abandoned land for the application of a 0.2% tax must be based on land laws and coordinated between tax authorities and land management agencies. In the United States, rising home prices and mortgage interest rates are prompting many families to establish funds to help their children buy homes, while the rental housing segment is seen as having growth potential as property prices exceed the affordability of many residents. In the housing and interior design sector, experts suggest small, cost-saving changes to create a more luxurious atmosphere, while the 2027 paint color trend is moving toward earthy brown and green. Vạn Xuân Group’s Happy One Elite project introduction event in Ho Chi Minh City on November 10 is expected to attract more than 2,000 participants from northern and southern Vietnam. Meanwhile, Rung Hong at Eco Retreat is drawing attention for its location, architecture, landscaping and public spaces, which contribute to the value of 304 low-rise products.
Ho Chi Minh City is also accelerating public investment disbursement and the progress of key projects, including the Moc Bai Expressway, Metro Line 2 and the Xuyen Tam Canal. The city’s master plan with a 100-year vision is expected to become a tool for development planning, efficient spatial organization and the creation of new growth drivers. Meanwhile, the 456-hectare Saigon Safari project, which has remained unrealized for more than 20 years, continues to be included in the list of projects seeking investment. The commercial property leasing market is facing a paradox, as many townhouse owners accept leaving premises vacant rather than making deep rent cuts, while businesses need affordable prices and long-term contracts. In land auctions, 20 plots in Thanh Oai, Hanoi attracted only 47 participants, with the highest winning price reaching VND56.08 million per square meter, nearly 40% below the area’s previously recorded peak. In Ha Tinh, 15 rural land plots were sold after two unsuccessful auctions, including nine plots purchased by one individual for nearly VND21 billion. Meanwhile, Mang Den Commune in Quang Ngai offered 16 plots for auction with a combined starting price of nearly VND194 billion.
Elsewhere, procedures are being expedited to prepare for the launch of three large urban projects in the Chu Lai Open Economic Zone, with total investment exceeding VND40 trillion. Regarding policy, Finance Minister Ngo Van Tuan said that identifying abandoned land for the application of a 0.2% tax must be based on land laws and coordinated between tax authorities and land management agencies. In the United States, rising home prices and mortgage interest rates are prompting many families to establish funds to help their children buy homes, while the rental housing segment is seen as having growth potential as property prices exceed the affordability of many residents. In the housing and interior design sector, experts suggest small, cost-saving changes to create a more luxurious atmosphere, while the 2027 paint color trend is moving toward earthy brown and green. Vạn Xuân Group’s Happy One Elite project introduction event in Ho Chi Minh City on November 10 is expected to attract more than 2,000 participants from northern and southern Vietnam. Meanwhile, Rung Hong at Eco Retreat is drawing attention for its location, architecture, landscaping and public spaces, which contribute to the value of 304 low-rise products.
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