The real estate market is seeing several notable developments in major urban areas. Hai Phong has approved a plan to auction a 3-hectare land plot near the administrative center north of the Cam River, with expected proceeds of more than VND 2 trillion. In Hue, a land plot of over 6,700 square meters in the city center is also set to be auctioned, with a starting price of VND 281 billion for the development of a five-star hotel complex. Meanwhile, Tay Ninh is preparing to select an investor for the nearly 2,610-hectare Long Huu new urban area, designed for approximately 200,000 residents. Da Nang is also planning the Ba Na urban area across the entire Ba Na commune, with the orientation of becoming a western growth pole accommodating more than 87,000 residents by 2050.
In Ho Chi Minh City, the Lotte Eco Smart City Thu Thiem complex, with investment capital of VND 60 trillion, has restarted construction after years of delay caused by legal and financial obligations. The city also plans to convert nearly 110 hectares of the expanded Le Minh Xuan Industrial Park in the former Binh Chanh District into social housing, with procedures expected to be completed early next year. Since the beginning of the year, Ho Chi Minh City has issued ownership certificates for 43,200 homes, while 13,949 applications are awaiting buyers’ payment of registration fees. In the commercial segment, proactive rent reductions by landlords have helped many ground-floor shophouses in apartment buildings fill up again, attracting businesses and service operators. By contrast, tenants in Nha Trang continue to face difficulties as apartment rents have risen 30 to 40 percent compared with the beginning of the year. Four properties in central Ho Chi Minh City linked to Truong My Lan also failed to sell at auction because there were no buyers, despite a combined starting price of more than VND 375 billion.
Regarding policy and outlook, buyers under 35 had received only about VND 577 billion in disbursements for social housing purchases as of August 31, amid barriers related to interest rates and lending conditions. Hanoi has approved a Vinhomes-led investor consortium to raise capital for an international sports urban area of nearly 9,000 hectares, one of the largest projects of its kind in Vietnam. Real estate transactions in the fourth quarter are forecast to improve, supported by rising home-buying demand, abundant supply and stimulus policies. At the project level, Palm Heights has handed over the first batch of ownership certificates to residents, Eco Retreat has introduced the low-rise Rung Hong subdivision with more than 300 products, while Lusso Saigon WorldHotels Residences is targeting long-term housing and rental demand through international management, integrated amenities and connectivity advantages. In the international market, BigBang members G-Dragon, Taeyang and Daesung have drawn attention for their Seoul property portfolios, valued from tens to hundreds of billions of dong.
In Ho Chi Minh City, the Lotte Eco Smart City Thu Thiem complex, with investment capital of VND 60 trillion, has restarted construction after years of delay caused by legal and financial obligations. The city also plans to convert nearly 110 hectares of the expanded Le Minh Xuan Industrial Park in the former Binh Chanh District into social housing, with procedures expected to be completed early next year. Since the beginning of the year, Ho Chi Minh City has issued ownership certificates for 43,200 homes, while 13,949 applications are awaiting buyers’ payment of registration fees. In the commercial segment, proactive rent reductions by landlords have helped many ground-floor shophouses in apartment buildings fill up again, attracting businesses and service operators. By contrast, tenants in Nha Trang continue to face difficulties as apartment rents have risen 30 to 40 percent compared with the beginning of the year. Four properties in central Ho Chi Minh City linked to Truong My Lan also failed to sell at auction because there were no buyers, despite a combined starting price of more than VND 375 billion.
Regarding policy and outlook, buyers under 35 had received only about VND 577 billion in disbursements for social housing purchases as of August 31, amid barriers related to interest rates and lending conditions. Hanoi has approved a Vinhomes-led investor consortium to raise capital for an international sports urban area of nearly 9,000 hectares, one of the largest projects of its kind in Vietnam. Real estate transactions in the fourth quarter are forecast to improve, supported by rising home-buying demand, abundant supply and stimulus policies. At the project level, Palm Heights has handed over the first batch of ownership certificates to residents, Eco Retreat has introduced the low-rise Rung Hong subdivision with more than 300 products, while Lusso Saigon WorldHotels Residences is targeting long-term housing and rental demand through international management, integrated amenities and connectivity advantages. In the international market, BigBang members G-Dragon, Taeyang and Daesung have drawn attention for their Seoul property portfolios, valued from tens to hundreds of billions of dong.