Property

According to data from Batdongsan.com.vn, interest in land plots fell 18 per cent during April compared to March and 8 per cent year-on-year. Analysts believe that real estate credit policies and tightened planning for land plots are behind the decline in the trade of plots.

Two social housing projects are set to be implemented in northern Nghe An province with total investment of VND6.88 trillion ($295.89 million). They have nearly 6,500 apartments, providing accommodation for some 20,000 workers at the Nam Cam Industrial Park. Nghe An has identified these as key projects in synchronizing services and social infrastructure at the industrial park.

Vinhomes has set a goal of completing 500,000 social housing units over the next five years, with projects to be implemented on the periphery of major cities and provinces, including Hanoi, Ho Chi Minh City, Hai Phong, Quang Ninh, and Da Nang, among others. Each project will range from 50 to 60 ha or more and build what Vinhomes calls “Happy Homes”. This is the first “full utility” social housing model in Vietnam.

According to the Ho Chi Minh City People’s Committee, the city’s real estate market is skewing towards the high-end segment and more affordable housing is needed. CBRE has said that the high-end segment has led the city’s real estate market since 2020 and accounted for over half of new supply in the first quarter of this year.

North-central Thanh Hoa province has approved a social housing project in Nam Ngan ward in Thanh Hoa city. On 28,000 sq m and with capital of more than VND3.7 trillion ($159.52 million), the project will build 2,400 apartments for low-income earners and is expected to be completed in 2027.

According to analysts at the “Controlling capital into real estate - Policy and impact” seminar on May 11, if banks continue to tighten lending to real estate then real estate businesses will face difficulties and many projects will lack capital and not be implemented. The supply-demand imbalance will increase as a result, leading to an escalation in housing prices.