The real estate market recorded a series of notable developments in urban planning and development. Tay Ninh is preparing to bid for an investor for the nearly 2,610-hectare Long Huu new urban area, designed for approximately 200,000 residents and valued at more than 10 billion USD. In Da Nang, Ba Na urban area is being planned across the entire Ba Na commune, covering more than 13,600 hectares, with an orientation to become a western growth pole accommodating over 87,000 residents by 2050. Hanoi has also approved a Vinhomes-led investor consortium to mobilize capital for an international sports urban area of nearly 9,000 hectares, among the largest projects of its kind in Vietnam. Meanwhile, three land lots totaling more than 159 hectares in Long Thanh Ward, adjacent to Long Thanh Airport, are expected to be auctioned this year to support the operation of the international airport. In Hue, a land plot of more than 6,700 square meters in the city center is also scheduled for auction, with a starting price of VND 281 billion, for the development of a five-star hotel complex.
In the social housing segment and buyer support policies, Ho Chi Minh City plans to convert the expanded Le Minh Xuan Industrial Park, located in the former Binh Chanh District, into a social housing development covering nearly 110 hectares. The necessary procedures are expected to be completed early next year. However, by August 31, buyers under 35 had received only about VND 577 billion in disbursements for social housing purchases because of interest rates and lending conditions. The Government has also proposed placing 5% of the final payment for future housing purchases into a secured account, allowing buyers to earn interest. Ho Chi Minh City has issued ownership certificates for 43,200 homes since the beginning of the year, while 13,949 applications are awaiting buyers’ payment of registration fees. The city has also proposed a levy equal to 1% of the transaction value for individuals and organizations transferring houses or land for the first time in TOD areas.
In transactions and property operations, the Lotte Eco Smart City Thu Thiem complex, with investment capital of VND 60,000 billion, has restarted construction after years of delay caused by legal and financial obligations. Ground-floor shophouses in apartment buildings in Ho Chi Minh City have shown improved occupancy as landlords actively reduce rents, attracting business households to open services and shops. In contrast, apartment renters in Nha Trang are facing difficulties as prices have risen 30-40% from the beginning of the year. Real estate transactions in the fourth quarter are forecast to potentially double, supported by rising housing demand, abundant products and demand-stimulus policies. In another development, an auction for four properties in central Ho Chi Minh City linked to Truong My Lan, with a combined starting price of more than VND 375 billion, failed because there were no buyers. Residents of Palm Heights have received the first batch of ownership certificates, while Eco Retreat has introduced the Rung Hong low-rise subdivision with more than 300 products. Lusso Saigon WorldHotels Residences is being promoted for its international management standards, integrated amenities and connectivity to National Highway 13 and the metro, targeting both long-term living and rental demand.
In the social housing segment and buyer support policies, Ho Chi Minh City plans to convert the expanded Le Minh Xuan Industrial Park, located in the former Binh Chanh District, into a social housing development covering nearly 110 hectares. The necessary procedures are expected to be completed early next year. However, by August 31, buyers under 35 had received only about VND 577 billion in disbursements for social housing purchases because of interest rates and lending conditions. The Government has also proposed placing 5% of the final payment for future housing purchases into a secured account, allowing buyers to earn interest. Ho Chi Minh City has issued ownership certificates for 43,200 homes since the beginning of the year, while 13,949 applications are awaiting buyers’ payment of registration fees. The city has also proposed a levy equal to 1% of the transaction value for individuals and organizations transferring houses or land for the first time in TOD areas.
In transactions and property operations, the Lotte Eco Smart City Thu Thiem complex, with investment capital of VND 60,000 billion, has restarted construction after years of delay caused by legal and financial obligations. Ground-floor shophouses in apartment buildings in Ho Chi Minh City have shown improved occupancy as landlords actively reduce rents, attracting business households to open services and shops. In contrast, apartment renters in Nha Trang are facing difficulties as prices have risen 30-40% from the beginning of the year. Real estate transactions in the fourth quarter are forecast to potentially double, supported by rising housing demand, abundant products and demand-stimulus policies. In another development, an auction for four properties in central Ho Chi Minh City linked to Truong My Lan, with a combined starting price of more than VND 375 billion, failed because there were no buyers. Residents of Palm Heights have received the first batch of ownership certificates, while Eco Retreat has introduced the Rung Hong low-rise subdivision with more than 300 products. Lusso Saigon WorldHotels Residences is being promoted for its international management standards, integrated amenities and connectivity to National Highway 13 and the metro, targeting both long-term living and rental demand.