Real estate: Market 'excited', room for apartment price increase still exists, warning of virtual land fever according to merger information, latest effective policies

For real estate value to increase sustainably, there must be a foundation, which means there must be synchronous development of transport, economic and social infrastructure. (Source: Thanh Nien)

Warning of "virtual land fever" following information on province and city mergers

Recently, localities have simultaneously warned people to be cautious of unofficial information about province-city mergers, and to report false rumors, price speculation, and market manipulation to local authorities.

Recently, the provinces and cities neighboring Hanoi have been experiencing fluctuations due to unofficial rumors related to planning and merging provinces and cities, with land prices in many areas increasing by about 20%.

Thai Binh Provincial Police have just issued a warning to investors to stay calm and not believe rumors about the merger of administrative units. If they discover fraudulent or market manipulation, investors should promptly report it to the nearest police agency.

The Department of Construction of Phu Tho province also issued a warning about the risk of virtual fever in the area. The department said that so far, the number of transactions on the floors is still limited. The high land prices could be a trick of "land brokers" to "inflate" prices.

Most recently, Bac Giang province also informed: In the province, there are also acts of staging transactions, buying and selling with large differences to deceive buyers, creating a high profit mentality. Some investors show signs of illegal capital mobilization and using many forms of sales when they do not meet the conditions...

Mr. Nguyen Van Dinh, Vietnam Association of Realtors (VARS), warned that investors need to be extremely careful about virtual fevers. Because land fevers caused by news often only benefit a small group of speculators, while the majority of individual investors and real buyers risk getting stuck if they buy at expected prices, which have been pushed too high.

In fact, after each land fever, many investors who bought at the peak of the price had to bury their capital for a long time or accept losses with poor liquidity. Even many groups of confident investors with experience in "surfing" failed many times when they could not sell their goods in time.

"For real estate values ​​to increase sustainably, there must be a foundation, which means there must be synchronous development of transport, economic and social infrastructure. Land fevers based only on news without accompanying investment and development plans often have short cycles, increase rapidly but are difficult to maintain at high levels for a long time," said Mr. Dinh.

Economist Dr. Dinh The Hien said that the real estate market has received a lot of support to recover since the beginning of the year, many real estate projects have been launched, and supply has begun to appear. Some high-end real estate projects that were thought to be difficult to sell have recently sold very well. However, the secondary market has been trading worse. Therefore, to confirm whether the real estate market is really heating up or not, we need to continue observing.

There is still room for apartment price increase.

Many people are concerned that the price of apartments in Hanoi is already high and there is little room for growth. However, according to expert analysis, if converted to gold, the price increase is only equivalent. Moreover, although people's income has not increased correspondingly, the Government is gradually reducing the burden of living expenses (free tuition, hospital fees, etc.), creating better conditions for people to save.

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In March 2025, the real estate market recorded a series of special developments. In Hanoi, the primary market recorded 3 low-rise projects and 5 high-rise projects officially launched with a total supply of about 10,000 apartments. In addition to major investors such as Vinhomes, Masterise Homes, MIK Group, the market has seen new projects from other investors: Xuan Cau, Tan Hoang Minh...

The new supply source is more abundant, helping home buyers and investors have more choices and references. Investors are launching projects one after another, starting construction, which is a signal that the legal status of the projects is "liberated", the market is "excited".

Mr. Tran Quang Trung believes that by 2025, part of the housing needs of real buyers will be solved. However, if home buyers continue to wait to buy houses in the inner city, the Western region or even new markets such as Co Loa to have cheap products, it will be very difficult.

“I highly appreciate the living conditions in the eastern part of Hanoi, including neighboring areas such as Van Giang. With a distance of only 8km as the crow flies and about 13km of actual travel to the center of Hoan Kiem, Van Giang is one of the closest areas to Hanoi. In fact, this distance is equivalent to – or even shorter – than traveling between inner-city districts such as Nam Tu Liem or Ha Dong to the center,” said Mr. Tran Quang Trung.

Currently, some reputable investors such as Masterise Homes are implementing projects with very reasonable investment costs per square meter, while still ensuring outstanding quality of life - from infrastructure, construction quality to synchronous utility systems. If the same utility system were located in areas such as Co Loa or the West of Hanoi, the cost would certainly have to be twice as high to achieve the same standard.

“I believe that this year is the golden time to own a house in the East. If you miss this opportunity, accessing high-end apartments at reasonable prices in other areas in the near future will become increasingly difficult,” Mr. Tran Quang Trung added.

It is forecasted that by 2030, Hanoi will have an additional population of about 2 million people - equivalent to the need for more than 1 million houses. Meanwhile, the supply in 2025 is expected to be only about 30,000 houses - showing that the potential for price increases is still very large if considering the long-term supply and demand factors. "The current period is like "dividing the cake" - the sober person will choose the delicious part if based on data and actual analysis. Investors need to look at cash flow, infrastructure completion level, population and actual demand", Mr. Tran Quang Trung emphasized.

Real estate policy takes effect from April

Below are real estate policies effective from April 2025.

Removing obstacles in some projects and land according to inspection conclusions in 3 localities

The content is mentioned in Resolution 170/2024/QH15 on specific mechanisms and policies to remove difficulties and obstacles for projects and land in inspection, examination and judgment conclusions in Ho Chi Minh City, Da Nang city and Khanh Hoa province.

Resolution 170/2024/QH15 stipulates specific mechanisms and policies to remove difficulties and obstacles for projects and land in the inspection, examination and judgment conclusions in Ho Chi Minh City, Da Nang City and Khanh Hoa Province as determined in the Appendix issued with Resolution 170/2024/QH15 and 1,313 cases of violations of land use term when granting Land Use Right Certificates, Land Use Right Certificates, House Ownership Rights and other assets attached to land as prescribed in Clause 3, Article 3 of Resolution 170/2024/QH15.

Pilot implementation of commercial housing projects through agreements on receiving land use rights

Resolution 171/2024/QH15 stipulates the pilot implementation of commercial housing projects through agreements on receiving land use rights or having land use rights (hereinafter referred to as pilot projects) nationwide in the following cases:

- Project of real estate business organization receiving land use rights.

- Project of real estate business organization having land use rights.

- Project of real estate business organization having land use rights and receiving land use rights.

- The project of a real estate business organization is established by organizations using land to implement a commercial housing project on the area of ​​a production and business facility that must be relocated due to environmental pollution, or the facility must be relocated according to construction planning and urban planning.

Conditions for implementing the pilot project are as follows:

- The implementation of the pilot project must meet the following conditions:

+ The scope of the land area and land plot for project implementation must comply with the district-level land use planning or construction planning and urban planning.

+ The scope of the land and land plot for project implementation is consistent with the approved local housing development program and plan.

+ The scope of the land area and land plot for project implementation is included in the list of land areas planned to implement the pilot project approved by the Provincial People's Council according to the provisions of Clause 2, Article 4 of Resolution 171/2024/QH15.

+ There is a written approval from the Provincial People's Committee on the agreement to receive land use rights to implement the pilot project for the cases specified in Point a and Point c, Clause 1, Article 1 of Resolution 171/2024/QH15.

+ Real estate business organizations must satisfy the conditions prescribed by law on land, housing, real estate business, investment and other relevant legal provisions.

- In case of using the planned area of ​​national defense land and security land to carry out pilot projects, the conditions specified in Clause 1, Article 3 of Resolution 171/2024/QH15 must be met and there must be written approval from the Ministry of National Defense for national defense land and the Ministry of Public Security for security land.

- Real estate business organizations implementing pilot projects that meet the conditions specified in Clause 1 and Clause 2, Article 3 of Resolution 171/2024/QH15 are allowed to receive land use rights transfer and change land use purposes for one, some or the following types of land to implement pilot projects:

+ Agricultural land.

+ Non-agricultural land is not residential land.

+ Residential land and other land in the same plot of land in case of agreement on receiving land use rights.

Procedures for reselling social housing within 5 years

What are the procedures for reselling social housing within a 5-year period?

Article 39 of Decree No. 100/2024/ND-CP detailing a number of articles of the Housing Law on the development and management of social housing stipulates the procedures for reselling social housing within a period of 5 years.

The resale of social housing within 5 years as prescribed in Point d, Clause 1, Article 89 of the Housing Law is implemented as follows:

1. In case of reselling social housing to the project investor, the reseller must carry out the procedure of liquidating the Contract with the investor. The resale shall be carried out in accordance with the provisions of Point d, Clause 1, Article 89 of the Housing Law and the provisions of the law on real estate business and the law on land.

2. In case of reselling social housing to other subjects eligible to buy or lease-purchase social housing, the following provisions shall apply:

a) The buyer of social housing must have documents confirming the subjects and conditions according to the instructions of the Minister of Construction, the Minister of National Defense and the Minister of Public Security and submit the application to the local Department of Construction where the project is located to determine the correct subjects and conditions according to the provisions in Point d, Clause 1, Article 38 of this Decree;

b) The reseller must complete the contract liquidation procedures with the project investor (if any). The resale shall be carried out in accordance with the provisions of Point d, Clause 1, Article 89 of the Housing Law and the provisions of the law on real estate business and the law on land.

Point d, Clause 1, Article 89 of the 2023 Housing Law stipulates the sale, hire-purchase, and lease of social housing as follows:

d) Within 05 years from the date the social housing buyer has fully paid for the house and has a need to sell the house, he/she may only resell it to the investor of the social housing construction investment project or resell it to a subject eligible to buy social housing at a maximum selling price equal to the selling price of the social housing in the sale and purchase contract with the investor of the social housing construction investment project. Personal income tax payment shall be made in accordance with the provisions of the law on tax.

Thus, the order and procedures for reselling social housing within 5 years are carried out according to the above regulations.

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