Daily Real Estate Briefing: High-End Supply Dominates as Major Housing and Land Projects Move Forward
The real estate market is showing a clear divergence in supply and purchasing power. In Ho Chi Minh City, high-end apartments accounted for more than 73% of commercial housing supply in the first nine months of the year, while the affordable segment completely disappeared. Although developers have continuously offered discounts of 20 to 30%, interest support and extended payment schedules, purchasing power remains difficult to improve as buyers stay cautious about home prices, capital costs and investment prospects. Meanwhile, the market is expected to receive around 30,300 new housing products in the fourth quarter, concentrated mainly in the southern region. In Nghe An, the Sun Glory Residence apartment complex in central Vinh comprises five towers and more than 37 amenities, targeting the housing and asset accumulation needs of Nghe An residents living away from home. Van Phuc Group has also included an apartment valued at nearly VND 8 billion in an incentive program for Diamond Sky buyers, applicable from November 1 to November 1, 2027.
Regarding land funds and housing development, Hanoi needs to recover more than 10,300 hectares of land for 578 economic and social development projects serving national and public interests. The city has also proposed expanding the rental housing project in Viet Hung Ward by adding more than 1,100 apartments. In the northern Hanoi area, the Bac Hong urban project is being studied for a potential conversion of part of its low-rise housing land into an eight-story social housing zone. In Ho Chi Minh City, the city allocated 7,393 square meters on Dang Van Bi Street in Thu Duc Ward for a housing project for the People’s Public Security forces. It also requested a review of legal procedures, the determination of responsibilities and handling deadlines for each land plot, while prioritizing auctions for eligible locations. Nearly 9,300 square meters at 127 An Duong Vuong Street is also subject to recovery because of a company’s breach of financial obligations. Hai Phong is seeking investors for the Ring Road 3 project under a BT contract, with a value of more than VND 8,100 billion. In Ha Tinh, the Vinhomes Vung Ang Industrial Park has been expanded to more than 1,400 hectares, with investment capital rising to over VND 23,000 billion.
In corporate developments, MIK Group appointed Tran Thi Minh Thuy as its new General Director, while Sunshine Homes dismissed CEO Jun Sungbae and appointed Dinh Chi Hieu as his replacement. A Vingroup project in northern Hanoi may convert part of its low-rise land into social housing. Meanwhile, a four-story townhouse and several residential projects are drawing attention for organizing space around the needs of individual family members, using natural ventilation and interior designs featuring curves, colors and lighting. Internationally, US home sellers are increasingly having to cut prices or support buyers to close deals. Notably, Golden Ball winner Harry Kane’s nearly USD 26.7 million villa in Surrey follows a Neo-Georgian design and includes a swimming pool, cinema, gym and an underground garage for five cars.
Regarding land funds and housing development, Hanoi needs to recover more than 10,300 hectares of land for 578 economic and social development projects serving national and public interests. The city has also proposed expanding the rental housing project in Viet Hung Ward by adding more than 1,100 apartments. In the northern Hanoi area, the Bac Hong urban project is being studied for a potential conversion of part of its low-rise housing land into an eight-story social housing zone. In Ho Chi Minh City, the city allocated 7,393 square meters on Dang Van Bi Street in Thu Duc Ward for a housing project for the People’s Public Security forces. It also requested a review of legal procedures, the determination of responsibilities and handling deadlines for each land plot, while prioritizing auctions for eligible locations. Nearly 9,300 square meters at 127 An Duong Vuong Street is also subject to recovery because of a company’s breach of financial obligations. Hai Phong is seeking investors for the Ring Road 3 project under a BT contract, with a value of more than VND 8,100 billion. In Ha Tinh, the Vinhomes Vung Ang Industrial Park has been expanded to more than 1,400 hectares, with investment capital rising to over VND 23,000 billion.
In corporate developments, MIK Group appointed Tran Thi Minh Thuy as its new General Director, while Sunshine Homes dismissed CEO Jun Sungbae and appointed Dinh Chi Hieu as his replacement. A Vingroup project in northern Hanoi may convert part of its low-rise land into social housing. Meanwhile, a four-story townhouse and several residential projects are drawing attention for organizing space around the needs of individual family members, using natural ventilation and interior designs featuring curves, colors and lighting. Internationally, US home sellers are increasingly having to cut prices or support buyers to close deals. Notably, Golden Ball winner Harry Kane’s nearly USD 26.7 million villa in Surrey follows a Neo-Georgian design and includes a swimming pool, cinema, gym and an underground garage for five cars.