Real Estate News Roundup: Riverside Apartment Prices Surge, Social Housing Supply Expands and Major Projects Advance
The real estate market has recorded a series of notable developments in major cities and areas with tourism potential. In Ho Chi Minh City, riverside apartment prices have risen sharply over the past five years, reaching VND 500-650 million per square meter in some locations as land along the Saigon River becomes increasingly scarce. The city has also set rental prices for 10 public land sites in the former Binh Duong area, covering more than 61 hectares in total, while awaiting long-term land-use plans. In addition, more than 380 hectares of cleared land in the Long Thanh urban, commercial and service area is ready to be auctioned for land-use rights. The Ho Chi Minh City Land Registration Office has also proposed canceling tax assessment information for a number of social housing apartments because their developers were slow to complete the required documents.
In the policy and affordable housing segment, HoREA has proposed allowing residents to exchange adjacent land areas and exempting them from land-use purpose conversion fees when the State acquires land for projects. Da Nang has begun receiving applications to purchase 277 social housing apartments at the Hoa Hiep 4 resettlement area, with prices of more than VND 19.4 million per square meter. In Nen̂h Ward, Bac Ninh City, more than 800 social housing apartments are priced at nearly VND 24 million per square meter, equivalent to at least VND 758 million per unit. Another development indicates that building age is becoming an important factor in apartment valuation, as a 20-year-old apartment may no longer be valued similarly to a new apartment in the same area. The case of an 87-year-old woman being evicted from the apartment where she had lived for 70 years in Spain has also fueled debate over rising housing costs.
In planning and project development, Phu Quoc has planned more than 550 hectares in Rach Vem and Ganh Dau for tourism-oriented urban development, ecological resorts and coastal spaces, while Hung Yen is set to have a mixed-use urban project with total investment of more than VND 21.5 trillion. A company affiliated with Sun Group has proposed the Ba Vi eco-tourism complex, including a safari component covering more than 580 hectares. In the commercial project segment, The Elite at Charmora City offers frontages of 7.5-10 meters and targets combined residential and business needs; Park Residence at Sun Urban City serves various groups of short-term and long-term guests; and the F2 Tower of FourS Tower in Da Nang recorded 1,369 successful reservations. Sun Group is also developing Sun Glory Residence in Vinh with more than 37 amenities on a 3.7-hectare site. In addition, Da Nang townhouse designs are emphasizing skylights, gardens and green spaces, while Newtown Legend Da Nang is presented with advantages near the beach, a golf course and the Co Co River, together with long-term ownership of low-rise homes. In international architecture news, the more than 100-year-old Winfield Hall, once used as the setting for Taylor Swift’s Blank Space music video, has attracted attention with its 56 rooms and elaborate decorative spaces.
In the policy and affordable housing segment, HoREA has proposed allowing residents to exchange adjacent land areas and exempting them from land-use purpose conversion fees when the State acquires land for projects. Da Nang has begun receiving applications to purchase 277 social housing apartments at the Hoa Hiep 4 resettlement area, with prices of more than VND 19.4 million per square meter. In Nen̂h Ward, Bac Ninh City, more than 800 social housing apartments are priced at nearly VND 24 million per square meter, equivalent to at least VND 758 million per unit. Another development indicates that building age is becoming an important factor in apartment valuation, as a 20-year-old apartment may no longer be valued similarly to a new apartment in the same area. The case of an 87-year-old woman being evicted from the apartment where she had lived for 70 years in Spain has also fueled debate over rising housing costs.
In planning and project development, Phu Quoc has planned more than 550 hectares in Rach Vem and Ganh Dau for tourism-oriented urban development, ecological resorts and coastal spaces, while Hung Yen is set to have a mixed-use urban project with total investment of more than VND 21.5 trillion. A company affiliated with Sun Group has proposed the Ba Vi eco-tourism complex, including a safari component covering more than 580 hectares. In the commercial project segment, The Elite at Charmora City offers frontages of 7.5-10 meters and targets combined residential and business needs; Park Residence at Sun Urban City serves various groups of short-term and long-term guests; and the F2 Tower of FourS Tower in Da Nang recorded 1,369 successful reservations. Sun Group is also developing Sun Glory Residence in Vinh with more than 37 amenities on a 3.7-hectare site. In addition, Da Nang townhouse designs are emphasizing skylights, gardens and green spaces, while Newtown Legend Da Nang is presented with advantages near the beach, a golf course and the Co Co River, together with long-term ownership of low-rise homes. In international architecture news, the more than 100-year-old Winfield Hall, once used as the setting for Taylor Swift’s Blank Space music video, has attracted attention with its 56 rooms and elaborate decorative spaces.