Daily Real Estate Brief: Vinhomes Raises Cam Ranh Investment, Social Housing and Major Planning Updates
Vietnam’s real estate market is seeing notable developments in planning, project investment and housing policy. Vinhomes is expected to raise the total investment in its urban development along Cam Ranh Bay from VND 85.3 trillion to VND 194 trillion. In Dong Nai, seven of the eight subdivisions of Aqua City have been determined not to incur additional land-use fees after planning adjustments, while the remaining subdivision still needs its financial obligations to be determined. On Phu Quoc Island, the Rach Vem and Ganh Dau areas have been planned across more than 550 hectares for tourism, ecological resort development and coastal spaces. Meanwhile, an urban project worth more than VND 7.1 trillion in Ba Na is expected to reduce residential land by 10 hectares and remove the garden villa category to make room for utility facilities.
Regarding policy and housing supply, the Government has asked localities to raise the target for rental social housing to more than 191,000 units and reduce the proportion of homes offered for sale over the next four years. Da Nang has begun accepting applications to purchase 277 social housing units at the Hoa Hiep 4 resettlement area, with a selling price of more than VND 19.4 million per square meter. HoREA has proposed allowing residents to exchange adjacent land areas and be exempt from land-use conversion fees when the State recovers land for project development. In addition, 10 public land plots in the former Binh Duong area, with a total area of more than 61 hectares, have been valued by Ho Chi Minh City for short-term leasing while a long-term land-use plan is pending. Another notable proposal calls for amendments to the Land Law so overseas Vietnamese can directly register inherited land-use rights instead of only receiving the asset value.
In the commercial segment, The Westique Residences in western Ho Chi Minh City is offering discounts of up to 13.1% for buyers making quick payments, along with extended payment schedules and interest waivers. Symphony 5 has introduced studio apartments from VND 1.8 billion at the riverside Sun Symphony Residence complex in Da Nang, targeting rental and leasing demand. Riverside apartment prices in the city have risen sharply over the past five years, reaching VND 500 to 650 million per square meter in some locations as land along the Saigon River becomes increasingly scarce. In Da Nang, Tower F2 of FourS Tower recorded 1,369 successful reservations, while Park Residence at Sun Urban City is positioned to serve various groups of temporary residents. The Elite in southern Nha Trang features frontages of 7.5 to 10 meters and targets combined living and business needs. Housing-related reports also show that a building’s age is becoming an increasingly important factor in apartment valuation, while 50 to 60 square meter homes continue to focus on privacy, natural light and connections to shared living spaces.
Regarding policy and housing supply, the Government has asked localities to raise the target for rental social housing to more than 191,000 units and reduce the proportion of homes offered for sale over the next four years. Da Nang has begun accepting applications to purchase 277 social housing units at the Hoa Hiep 4 resettlement area, with a selling price of more than VND 19.4 million per square meter. HoREA has proposed allowing residents to exchange adjacent land areas and be exempt from land-use conversion fees when the State recovers land for project development. In addition, 10 public land plots in the former Binh Duong area, with a total area of more than 61 hectares, have been valued by Ho Chi Minh City for short-term leasing while a long-term land-use plan is pending. Another notable proposal calls for amendments to the Land Law so overseas Vietnamese can directly register inherited land-use rights instead of only receiving the asset value.
In the commercial segment, The Westique Residences in western Ho Chi Minh City is offering discounts of up to 13.1% for buyers making quick payments, along with extended payment schedules and interest waivers. Symphony 5 has introduced studio apartments from VND 1.8 billion at the riverside Sun Symphony Residence complex in Da Nang, targeting rental and leasing demand. Riverside apartment prices in the city have risen sharply over the past five years, reaching VND 500 to 650 million per square meter in some locations as land along the Saigon River becomes increasingly scarce. In Da Nang, Tower F2 of FourS Tower recorded 1,369 successful reservations, while Park Residence at Sun Urban City is positioned to serve various groups of temporary residents. The Elite in southern Nha Trang features frontages of 7.5 to 10 meters and targets combined living and business needs. Housing-related reports also show that a building’s age is becoming an increasingly important factor in apartment valuation, while 50 to 60 square meter homes continue to focus on privacy, natural light and connections to shared living spaces.