Daily real estate briefing: Ho Chi Minh City to demolish 64 old apartment buildings, Thu Thiem land auction and new projects
The real estate market is seeing a series of notable developments in major urban areas. Ho Chi Minh City is expected to relocate and demolish 64 old apartment buildings containing a total of 8,577 units during the 2026-2030 period, with the goal of renovating or rebuilding all of these structures. The city is also inviting international bids for the Tan An 1A Ward new urban area, covering nearly 275 hectares with total investment of more than VND 68.57 trillion, equivalent to nearly USD 2.7 billion. Meanwhile, four land lots in Thu Thiem will be auctioned online on November 27, with a combined starting price of more than VND 16.6 trillion and accompanying financial requirements.
From a policy perspective, National Assembly deputy Le Thanh Hoan proposed banning the transfer of contracts for future-formed homes to curb speculation and paper flipping. Market realities also show that financial pressure remains present, as one buyer had to lower the asking prices of two apartments and accept a loss to reduce the remaining payment obligation to nearly 50% of their value. For first-time homebuyers with around VND 2 billion, experts recommend prioritizing housing needs and assessing debt repayment capacity when taking out a bank loan rather than focusing only on expected land profits. In the luxury segment, a 400-square-meter villa in Ciputra is being offered for sale by a bank with a starting price of approximately VND 170 billion.
In other local markets, the first phase of Viglacera’s nearly 500-hectare Tay Pho Yen Industrial Park has been inaugurated in Thai Nguyen, near Ring Road 5 of the Capital Region. Growing tourism in Tay Ninh is creating additional room for accommodation, commercial and urban services. Several projects continue to emphasize living spaces and amenities, including The Harbor Skyline on Vu Yen Island, 12 apartments with private garden terraces at Pearl Residence Cua Lo, and Aqua City, where more than 1,300 houses have been handed over and new sales are scheduled to open from October 31. In addition, Vincom Retail reported after-tax profit of VND 1.522 trillion in the third quarter, serviced apartment occupancy can reach 85%, and Asian brands continue to support demand for retail space in Ho Chi Minh City.
From a policy perspective, National Assembly deputy Le Thanh Hoan proposed banning the transfer of contracts for future-formed homes to curb speculation and paper flipping. Market realities also show that financial pressure remains present, as one buyer had to lower the asking prices of two apartments and accept a loss to reduce the remaining payment obligation to nearly 50% of their value. For first-time homebuyers with around VND 2 billion, experts recommend prioritizing housing needs and assessing debt repayment capacity when taking out a bank loan rather than focusing only on expected land profits. In the luxury segment, a 400-square-meter villa in Ciputra is being offered for sale by a bank with a starting price of approximately VND 170 billion.
In other local markets, the first phase of Viglacera’s nearly 500-hectare Tay Pho Yen Industrial Park has been inaugurated in Thai Nguyen, near Ring Road 5 of the Capital Region. Growing tourism in Tay Ninh is creating additional room for accommodation, commercial and urban services. Several projects continue to emphasize living spaces and amenities, including The Harbor Skyline on Vu Yen Island, 12 apartments with private garden terraces at Pearl Residence Cua Lo, and Aqua City, where more than 1,300 houses have been handed over and new sales are scheduled to open from October 31. In addition, Vincom Retail reported after-tax profit of VND 1.522 trillion in the third quarter, serviced apartment occupancy can reach 85%, and Asian brands continue to support demand for retail space in Ho Chi Minh City.