Vietnam’s real estate industry has been through a number of challenges in recent years with a number of regulatory changes made in an attempt to strengthen the industry. This section monitors Vietnam real estate news coverage of those regulatory changes as well as mergers and acquisitions in the real estate space.

Hanoi apartment prices jump on real estate market downturn

the-shiv December 28, 2023

Apartment prices in Hanoi, in some instances, have doubled on the back of a slowdown in the construction and real estate sector, Doanh Nhan Vietnam is reporting. Key points: At the end of Q3 2023, 42 commercial housing projects had been finished accounting for about 15,966 properties; This was barely

Singapore, Malaysia real estate firms launch US$241.1 million joint project in Vietnam

the-shiv December 13, 2023

Singapore’s CapitalLand and Malaysia’s United Overseas Australia are working together to develop a mixed-use real estate project with US$247.1 million in Vietnam, The Investor is reporting. No details are provided regarding where the project will be developed.

Singapore developer drops US$562 million on southern Vietnam real estate project

the-shiv December 8, 2023

Singapore’s CapitaLand has acquired an 18.9 hectare real estate project in Vietnam’s Binh Duong province for over half a billion dollars, The Investor is reporting. The project, when realised, is expected to house 12,500 people in 3,300 houses and 462 villas.

Japanese firms enter affordable housing market in Vietnam

the-shiv December 6, 2023

Two Japanese firms, Cosmos Initia and Koterasu, have partnered-up with Vietnamese firm TTCapital Investment, to build affordable housing in Vietnam, Tuoi Tre is reporting. This is of interest in that the demand for affordable housing far outstrips demand for mid-level apartments, yet most development and investment has been focused on

Amendments to real estate business law pass Vietnam’s National Assembly

the-shiv November 29, 2023

An amended real estate business law has officially been approved by the National Assembly of Vietnam, The Investor is reporting. Set to take effect from January 2025, the amended real estate business law has a few key changes developers and real estate firms should be aware of. These include: Developers

Key retail strips in HCMC, Hanoi among the most expensive in the world

the-shiv November 23, 2023

Tuoi Tre is reporting that retail rents on Hanoi’s Trang Tien Street and Ho Chi Minh City’s Dong Khoi Street are among the most expensive in the world, according to Cushman & Wakefield. That said, the Main Streets Across the World Report 2023, from the aforementioned property managers, ranks HCMC’s

Real estate sector still struggling with more closures and layoffs

the-shiv November 20, 2023

Layoffs and closures in the real state sector are ongoing, The Investor is reporting. Specifically, Housing Development and Trading Joint Stock Company (HDTC) earlier this month announced it would furlough its workforce without pay until business picks up again. The Investors goes on to list several large real estate firms

Retail association calls for extended delay on tighter bond market regulations

the-shiv November 16, 2023

The HCMC Real Estate Association (HoREA) has called for an extension of Decree 08/2023 which has delayed to the implementation of tighten bond market regulations outlined in Decree 65/2020, The Saigon Times is reporting. Decree 65 when fully implemented would see bonds given credit ratings and bond market interactions limited

Vietnam real estate firm wants to settle outstanding bond debts with property

the-shiv November 16, 2023

Real estate firm Novaland has proposed using unsold properties in its Grand Manhattan development in Ho Chi Minh City to cover outstanding bond debts, Vietnam News is reporting. It’s not clear that this resolution has been accepted or that it will be by creditors. The bond debt is outstanding from

Singapore real estate firm to develop 5.6 hectares in Hanoi’s west

the-shiv November 9, 2023

Singapore real estate developer, CapitalLand, intends to drop US$738.6 million on developing nine towers comprising 4,000 units, in Hanoi’s west, The Investor is reporting. Why it matters: Vietnam’s real estate sector is on struggle street mostly because of a number of fraud cases that emerged in corporate bonds issued by

🇻🇳 Novaland reports Q3 profit amid default on international bond interest payment

the-shiv November 1, 2023

Novaland is ‘back in the black’ with an after-tax profit of VND136.7 billion (US$5.7 million) in Q3, VN Express is reporting. This was a big change compared to the first half of the year in which it recorded a loss of VND 1,094 trillion (US$44.5 million). There is, however, no

Vietnam industrial land rent to become 10 percent more expensive

the-shiv October 18, 2023

Whereas this is ‘good news’ for industrial real estate developers, according to Vietnamnet, it will mean increased costs for leasees. Vietnamnet cites data from CBRE which shows occupancy rates at 80.2 percent, with an average lease price in the primary market of US$131 per square meter. It’s not clear what

Embattled real estate firm FLC to pay US$3.3 million in overdue taxes

the-shiv October 16, 2023

The Hanoi Tax Department has found that property developer FLC has US$3.3 million owed in back taxes, VN Express is reporting. The publication also notes that FLC hasn’t released its financial reports since the fourth quarter of 2022. FLC’s chairman was arrested for stock manipulation back in March 2022 and

Foreign direct investment in real estate down 45 percent year-on-year

the-shiv October 5, 2023

FDI in the real estate sector reached US$1.94 billion in the first nine months of 2023, down 45 percent year-on-year, Vietnam Plus is reporting. Why it matters: The real estate sector has hit hard this year on the back of bond frauds and several high-profile arrests in the sector. This

Ministry of Construction report shows real estate supply-demand mismatch

the-shiv October 4, 2023

A report issued by the Ministry of Construction has found that new residential real estate developments are stagnant but demand for housing is high and that’s pushing up prices, The Investor is reporting. The article says the completion rate of new buildings is well down due to legal hurdles and

Vietnam’s real estate woes could continue into 2024

the-shiv September 25, 2023

Economist Le Xuan Nghia, has predicted that the real estate market turmoil in Vietnam may continue into the third quarter of next year, The Investor is reporting. The article goes on to say that prices are rising because of low-supply which is a result of challenges accessing capital for real

Interest rates on real estate bonds climb on weak consumer sentiment

the-shiv September 24, 2023

The average interest rate on real estate bonds last year was 9.76 percent but this has climbed to 13.16 percent as real estate firms struggle to raise capital, according to Tuoi Tre is reporting. Quang Khanh Tran, the general director of Viet An Hoa Real Estate Investment, told the publication

Malaysian real estate firm enters Vietnam market with HCMC land purchase

the-shiv September 8, 2023

Malaysia’s Skyworld Development is set to invest US$14.15 million in land in HCMC on which it intends to build an apartment building, the New Straight Times is reporting. Context: The real estate sector has found itself almost frozen after several high-profile arrests related to bond issuances. The economy is also

VPS sees the real estate market recovering in the second half of 2023

the-shiv September 6, 2023

The real estate market in Vietnam will only start to properly recover when lending interest rates drop another 2-3 percent, according to VPBank Securities Company (VPS) as reported by Business Forum Magazine. The magazine goes on to quote VPS as saying the challenges facing the real estate market will ease

‘Not very positive’ Vietnam Association of Real Estate Brokers report released

the-shiv August 31, 2023

The Vietnam Association of Real Estate Brokers has released a report on the current state of Vietnam’s real estate market that The Leader has dubbed ‘not very positive’. The report (download here) takes the view that measures to alleviate pressure on the sector have done little to help.