The real estate market recorded several notable developments, ranging from changing investment preferences to support policies and project implementation. Land plots are becoming increasingly difficult to sell as speculative capital retreats, while this segment offers limited income-generating potential and carries the risk of tying up capital. Meanwhile, apartment prices remain beyond the accumulation capacity of many buyers, and fluctuating loan interest rates are making young people cautious about borrowing for several decades, despite their housing needs. Limited land resources are also putting pressure on the supply of inner-city apartments, pushing new projects toward expanding areas and causing Hanoi’s apartment market to become increasingly segmented. For apartments nearing handover that are being offered at reduced prices, buyers may have greater room to negotiate but should pay attention to the remaining payment obligations after the principal grace period ends.
In terms of policy and urban development, Ho Chi Minh City has proposed support ranging from 28% to 100% of the compensated land price for buyers of homes and land purchased through handwritten agreements between after July 1, 2014 and before August 1, 2024. The city is also considering tax incentives, land-rent exemptions, interest-rate support and a 50% reduction in administrative processing time to attract outlet center projects. Four land lots with a combined area of nearly 4.3 hectares in the Thu Thiem New Urban Area have been handed over to Dai Quang Minh Company as payment for the BT contract to build Ba Son Bridge. In Dong Nai, Ninh Phong Development Investment JSC has been leased more than 438 hectares to develop and operate infrastructure for Dong No Industrial Park in Tan Khai Ward. Meanwhile, VSIP plans to develop the second phase of Phu Dong Industrial Park in Hanoi, covering nearly 100 hectares and expected to begin operations in the third quarter of 2029. A land lot of more than 3,300 square meters in Long Bien is also scheduled for auction on December 5 for apartment development.
Regarding corporate activity and projects, Novaland aims to record more than VND516.8 trillion in revenue from key projects by 2030, eight times its total outstanding debt of VND61.9 trillion. Phu Long inaugurated and handed over the Essensia Sky & Parkway Saigon WorldHotels Residences complex, with nearly 500 products, on November 6. Phat Dat broke ground on the first five towers of the Qtopia project in the Phuoc Hai coastal area of Ho Chi Minh City. One Era introduced 357 multifunctional low-rise products, while Sun Group is preparing to launch more than one hundred Sun Home social housing apartments in Da Nang at nearly VND6.4 million per square meter. In addition, Starlake The Prime K8CT1 extended its payment schedule by another five months, while a joint venture of three Japanese partners is developing TT Genesis based on international experience in housing design, site selection and financial planning.
In terms of policy and urban development, Ho Chi Minh City has proposed support ranging from 28% to 100% of the compensated land price for buyers of homes and land purchased through handwritten agreements between after July 1, 2014 and before August 1, 2024. The city is also considering tax incentives, land-rent exemptions, interest-rate support and a 50% reduction in administrative processing time to attract outlet center projects. Four land lots with a combined area of nearly 4.3 hectares in the Thu Thiem New Urban Area have been handed over to Dai Quang Minh Company as payment for the BT contract to build Ba Son Bridge. In Dong Nai, Ninh Phong Development Investment JSC has been leased more than 438 hectares to develop and operate infrastructure for Dong No Industrial Park in Tan Khai Ward. Meanwhile, VSIP plans to develop the second phase of Phu Dong Industrial Park in Hanoi, covering nearly 100 hectares and expected to begin operations in the third quarter of 2029. A land lot of more than 3,300 square meters in Long Bien is also scheduled for auction on December 5 for apartment development.
Regarding corporate activity and projects, Novaland aims to record more than VND516.8 trillion in revenue from key projects by 2030, eight times its total outstanding debt of VND61.9 trillion. Phu Long inaugurated and handed over the Essensia Sky & Parkway Saigon WorldHotels Residences complex, with nearly 500 products, on November 6. Phat Dat broke ground on the first five towers of the Qtopia project in the Phuoc Hai coastal area of Ho Chi Minh City. One Era introduced 357 multifunctional low-rise products, while Sun Group is preparing to launch more than one hundred Sun Home social housing apartments in Da Nang at nearly VND6.4 million per square meter. In addition, Starlake The Prime K8CT1 extended its payment schedule by another five months, while a joint venture of three Japanese partners is developing TT Genesis based on international experience in housing design, site selection and financial planning.