Daily Real Estate Briefing: New Policies, Rising Apartment Inventory and Infrastructure-Led Capital Flows
The real estate market is seeing notable developments in policy, supply, land auctions and capital flows. As the National Assembly discusses amendments to three laws related to real estate, land pricing, the use term of apartment buildings, compensation and resettlement remain key issues. Several lawmakers have proposed building a land price database based on actual transactions to reduce the risk of returning to administratively determined prices and better protect residents’ interests. Lawmaker Ta Van Ha also said that clearly defining apartment usage periods could help reduce the prices of older apartments and improve affordability. In addition, Nguyen Minh Tuan, Director of the Phu Tho Provincial Police, proposed legislating a ban on advertisements that exaggerate or misrepresent real estate projects before they are sold to customers.
On the market front, the Ministry of Construction recorded more than 12,800 unsold apartment units in the second quarter, nearly four times higher than in the same period last year. Ho Chi Minh City’s apartment segment remains sharply differentiated, with super-luxury units approaching an average price of VND 470 million per square meter and reaching as high as VND 1 billion per square meter. Meanwhile, the Dong Truc social housing project in Thach That, near Thang Long Boulevard, has prices starting at VND 23.5 million per square meter, or from VND 870 million per unit. In Hanoi, more than 1 hectare of land in the Nam Linh Dam Lake new urban area has been allocated to IFT Company to develop housing for police officers. In Da Nang, the city has allowed the continued allocation and leasing of land for two urban areas covering nearly 39 hectares and a social housing project in Dien Ban Dong Ward under a special mechanism.
In southern Vietnam, Ho Chi Minh City has approved auction plans for three land sites on No Trang Long, Nguyen Van Dau and Le Van Sy streets, while also preparing to auction three additional lots in the Thu Thiem New Urban Area with a combined expected starting price of more than VND 7.6 trillion. Real estate capital is tending to move away from core areas and follow infrastructure toward new urban areas, although not every location with an expressway or airport can attract investors. Among developers, Novaland is targeting the handover of 2,265 homes in the second half of the year, mainly at Victoria Village and Aqua City, 6.6 times the figure recorded in the first half. Blanca City is expected to introduce more than 1,700 long-term ownership apartments at Beachtro Tower in September, while Symphony 5 in Da Nang is being promoted for its access to Sun Group’s amenity ecosystem. Van Phuc City continues to use its riverside urban space for cultural events, including the To Quoc Trong Tim concert, which is expected to draw 50,000 spectators.
On the market front, the Ministry of Construction recorded more than 12,800 unsold apartment units in the second quarter, nearly four times higher than in the same period last year. Ho Chi Minh City’s apartment segment remains sharply differentiated, with super-luxury units approaching an average price of VND 470 million per square meter and reaching as high as VND 1 billion per square meter. Meanwhile, the Dong Truc social housing project in Thach That, near Thang Long Boulevard, has prices starting at VND 23.5 million per square meter, or from VND 870 million per unit. In Hanoi, more than 1 hectare of land in the Nam Linh Dam Lake new urban area has been allocated to IFT Company to develop housing for police officers. In Da Nang, the city has allowed the continued allocation and leasing of land for two urban areas covering nearly 39 hectares and a social housing project in Dien Ban Dong Ward under a special mechanism.
In southern Vietnam, Ho Chi Minh City has approved auction plans for three land sites on No Trang Long, Nguyen Van Dau and Le Van Sy streets, while also preparing to auction three additional lots in the Thu Thiem New Urban Area with a combined expected starting price of more than VND 7.6 trillion. Real estate capital is tending to move away from core areas and follow infrastructure toward new urban areas, although not every location with an expressway or airport can attract investors. Among developers, Novaland is targeting the handover of 2,265 homes in the second half of the year, mainly at Victoria Village and Aqua City, 6.6 times the figure recorded in the first half. Blanca City is expected to introduce more than 1,700 long-term ownership apartments at Beachtro Tower in September, while Symphony 5 in Da Nang is being promoted for its access to Sun Group’s amenity ecosystem. Van Phuc City continues to use its riverside urban space for cultural events, including the To Quoc Trong Tim concert, which is expected to draw 50,000 spectators.