real estate market

Update news real estate market

6,000 low-cost apartments for sale, three social housing projects considered

About 6,000 apartments belonging to 11 social housing projects are expected to be completed in 2024-2025 and launched into the market, according to the Hanoi Construction Department.

Apartment prices rise, real estate firms report big profits

Apartment prices have increased to over VND100 million per sq m in the suburbs, while land bid prices are tens times higher than starting prices. Real estate firms have reported a surge in revenue from brokerage services.

Speculators inflate land prices after loss of deposits at auctions

Offering sky high bidding prices at land auctions but later giving up the deals even after making a deposit is a trick played by real estate speculators to push market prices up.

People in Hanoi allowed to buy social housing in HCM City: ministry

Citizens satisfying all the requirements as stipulated by the laws are eligible to buy social housing, regardless of where they are from, according to Vuong Duy Dung, deputy director of the Housing and Real Estate Market Management Department.

Foreign investment to help reduce affordable housing shortage

While domestic realtors have avoided the affordable housing market, foreign investors have poured money into the segment.

Ministry agrees to tax multiple properties to prevent speculation

Deputy Minister of Finance Nguyen Duc Chi said the Ministry of Finance (MOF) agrees with the proposal on taxing second and subsequent houses to prevent speculation and ensure the transparent and stable development of the real estate market.

Housing prices rise, spurred by speculation and land-related costs

At a housing project in Hung Yen, apartments have quoted prices of VND7-8 billion, but the real price buyers must pay is VND750 million higher, or a price gap of 10 percent.

Banks slash selling prices of mortgaged real estate, still can’t find buyers

Many properties used as collateral for loans and foreclosed by commercial banks remain unsold, largely because many Vietnamese fear the bad luck of the previous owners may transfer to them.

MOC seeks to convert resettlement apartments to social housing use

The Ministry of Construction (MOC) believes that converting resettlement apartments to social housing is the best solution to the problem of thousands of idle apartments.

Land prices artificially inflated in Hanoi, few transactions recorded

Real estate brokers say some land plots with the highest bid price of VND133.3 million per sq m at a recent auction in Hoai Duc district eventually sold for an additional VND200 million per plot.

New regulation eliminates land-use tax on social housing sales

Under the 2023 Housing Law, since August 1, 2024, the sellers of apartments at social housing projects have not had to pay 50 percent of land use fees.

HCM City land prices in suburban areas could soar by 50 times

After the press conference on July 29 about the draft decision on adjusting land price levels, the HCM City Department of Natural Resources and the Environment continued to answer the public’s inquiries.

Older apartments are selling well, prices rise as demand is high

As the supply of new apartments remains low, leading to price increases, people are buying older apartments instead.

New land law expected to help real estate sector to recover

The real estate market will not recover promptly as it will take more time for the new Land Law to be applied, according to experts.

In gloomy market, major realtors are also suffering

Real estate firms in Vietnam continue to face difficulties as real estate shares fluctuate unpredictably.

Real estate market is lackluster, but housing prices remain high

Many offers to sell property with attractive discounts of up to hundreds of millions of dong still exist, but houses remain very expensive.

Foreigners allowed to own houses without land-use right

The Ministry of Construction (MOC) has proposed that the government conclude that housing ownership by foreign individuals should not include not land-use rights. In addition, foreigners should be allowed to extend the house ownership period once.

Vietnam’s real estate thirsty for M&A deals

Mergers and acquisitions between domestic and international real estate developers were down in the first half of the year, but could be a future bright spot with Vietnam boasting attractive economic fundamentals and investors biding their time.

Major realtors sell assets as property market remains stagnant

Many enterprises have had to sell assets and subsidiaries to get cash and survive the current difficult period, as the property market faces weak liquidity and a decline in revenue.

Property market: multi-billion dong golf course to be located on mountain

Cocobay Da Nang, the super project in Da Nang, and a multi-billion dong golf course in Bac Giang were the leading news items last week.