Real estate news today: HCMC approves conversion of 9.5 ha of agricultural land; waterfront project may add a 108-storey tower; transaction volume drops sharply; multiple project and planning updates
Amid signs of diversification in demand and transaction flows, the real estate market continues to see notable updates regarding legal status, planning and project execution. In Ho Chi Minh City, the city allows R&L Group Joint Stock Company to convert more than 9.5 ha of agricultural land into a residential development project, An Hoa Ecological Residential Area, in Long Dien Commune. Meanwhile, another eco-tourism urban area in Vinh Thanh and Dong Anh communes is reported to potentially add a 108-storey tower, comparable in scale to towers planned in BRG and Sumitomo projects. On the planning side, HCMC is also mentioned for approving an urban area for social housing with a planned implementation area of nearly 192 ha and an estimated population of 67,465. In Hanoi, the city’s plan to look up the land-recovery project categories is highlighted, covering nearly 4,000 projects through to 2030.
Regarding policy direction and pricing, the information focuses on transparency and risk containment during implementation. The government guidance emphasizes a term based on the useful life/tenancy of the building and refrains from confirming an automatic continuation of property rights after a common building’s useful life ends. In parallel, the proposal for amending the Land Law includes using data-based approaches to determine land prices, aiming to avoid price manipulation and to form more appropriate pricing.
On the market side, caution remains visible in transaction figures. In the second quarter, Hanoi’s real estate market recorded around 4,700 transactions, down 64% year-on-year, according to One Mount Group. Although demand to buy remains high, buyers appear to be more selective, as the market still lacks enough apartments at suitable price points. At the same time, a mismatch is reflected where some investors targeting shophouses face stronger absorption pressure when prices adjust and loan repayment pressures weigh on liquidity.
Project development continues across multiple localities. In Da Nang, 132 penthouse units are introduced for release at three towers: Spana Tower, Cora Tower and S-Light Tower. In HCMC, Iki Village is described as consisting of 424 units with a courtyard-in-the-home concept and lifestyle-oriented amenities. In Hanoi, a social housing area is expected to open for sale with a price of 24 million VND per square meter for around 700 units. Technical and materials-related updates are also included, such as multi-layer material concepts for better reflectance and a more distinctive appearance.
In addition, land use and compensation remain key themes. Thua Thien Hue is referenced for an auction plan for a land plot (1.K3.5.HH) at a new urban area with an area of over 10,000 m2, with the starting price structure mentioned as lower; separately, a compensation plan linked to Lương Định Của is reported to support the recovery of about 22,000 m2 of land frontage, with total compensation costs estimated at around 1,641 billion VND and related relocation arrangements.
Regarding policy direction and pricing, the information focuses on transparency and risk containment during implementation. The government guidance emphasizes a term based on the useful life/tenancy of the building and refrains from confirming an automatic continuation of property rights after a common building’s useful life ends. In parallel, the proposal for amending the Land Law includes using data-based approaches to determine land prices, aiming to avoid price manipulation and to form more appropriate pricing.
On the market side, caution remains visible in transaction figures. In the second quarter, Hanoi’s real estate market recorded around 4,700 transactions, down 64% year-on-year, according to One Mount Group. Although demand to buy remains high, buyers appear to be more selective, as the market still lacks enough apartments at suitable price points. At the same time, a mismatch is reflected where some investors targeting shophouses face stronger absorption pressure when prices adjust and loan repayment pressures weigh on liquidity.
Project development continues across multiple localities. In Da Nang, 132 penthouse units are introduced for release at three towers: Spana Tower, Cora Tower and S-Light Tower. In HCMC, Iki Village is described as consisting of 424 units with a courtyard-in-the-home concept and lifestyle-oriented amenities. In Hanoi, a social housing area is expected to open for sale with a price of 24 million VND per square meter for around 700 units. Technical and materials-related updates are also included, such as multi-layer material concepts for better reflectance and a more distinctive appearance.
In addition, land use and compensation remain key themes. Thua Thien Hue is referenced for an auction plan for a land plot (1.K3.5.HH) at a new urban area with an area of over 10,000 m2, with the starting price structure mentioned as lower; separately, a compensation plan linked to Lương Định Của is reported to support the recovery of about 22,000 m2 of land frontage, with total compensation costs estimated at around 1,641 billion VND and related relocation arrangements.