According to experts, in the fourth quarter of 2024, the apartment segment will lead the number of new projects opening for sale. There are not many projects of townhouses and land plots participating at this time.
New project landed
Recently, Daewoo E&C Company announced that it will cooperate with Taekwang Vina Company to jointly invest in developing the Long Tan Phu Hoi Urban Area Project (commercial name Fo;Res Centerm) in Nhon Trach (Dong Nai) by the end of 2024.
Accordingly, this urban area has a scale of more than 55 hectares, located right in the center of Nhon Trach district, near the administrative center with synchronous infrastructure investment. It is expected that the investor will build a variety of types, from low-rise housing to high-rise apartments. Currently, Fo;Res Centerm is implementing architectural design, preparing to start construction of infrastructure and selling phase I with 306 low-rise villas, including garden villas, single villas, shop villas, shophouses, townhouses.
In Binh Duong, Tran Anh Group announced that it will launch the next phase of the Phuc An Ashita Urban Area Project in Bau Bang District. In this phase, Tran Anh Group will launch more than 100 townhouses for sale.
Phu Dong Real Estate Joint Stock Company (Phu Dong Group) said that it has implemented a project called Phu Dong Sky One in Di An City. The project is built on an area of 6,000 m2, with 2 apartment blocks 30 floors high, including 780 luxury apartments, the selling price offered by this enterprise is under 2 billion VND/apartment.
TT Capital has announced that it will open a luxury apartment project in Di An City, with the commercial name TT AVIO. The project will be built on an area of nearly 16,000 m2, with 2,000 apartments priced under VND 2 billion/unit. The project will be introduced to the market in the beginning of the fourth quarter.
In Long An, the real estate market has developed quite positively, with many new projects being launched. Prodezi Long An Joint Stock Company said that in the fourth quarter, it will officially launch a project called La Home in Ben Luc district. The project covers an area of 100 hectares, with nearly 4,000 townhouses and villas.
Similarly, Nam Long Group also launched about 5,000 apartment products at Waterpoint Project (Ben Luc District). The project has a total area of 355 hectares, the price of this product is about 1 billion VND/apartment.
Also in Ben Luc district, the project named Destino Centro is being launched by the investor, Seaholdings Real Estate Joint Stock Company, in the fourth quarter. The project is being implemented on an area of about 2.7 hectares, with a scale of 5 apartment blocks 20 floors high, providing 1-3 bedroom apartments and studio apartments. The selling price given by the investor is 1 billion VND/apartment.
One piece of information that many investors and businesses are looking forward to is that Ecopark Group will develop the Ecopark Long An Urban Area Project at the end of this year. The project covers an area of 200 hectares, with more than 4,500 low-rise townhouses and 4,300 apartments. Ecopark is currently launching the sale of the Ecopark Nhon Trach Project (Dong Nai). The project covers an area of 55 hectares, including nearly 1,000 townhouses and villas.
Khai Hoan Land Group said it will open a project called Khai Hoan Prime in Nha Be District (HCMC). The project is built on an area of 19,730 m2, with 3 apartment blocks, including 1,257 apartments.
Gamuda Land Group and Vingroup continue to open sales of projects in Thu Duc City (HCMC) with about 7,000 products.
Regarding the land segment, Cat Tuong Group said that the company is developing a project called J-Home Cat Tuong (Binh Duong province), with 155 townhouses and will open for sale next October.
In the resort real estate segment, real estate companies developing this segment said that they currently have no specific plans for launching projects. Instead, most businesses will restructure cash flow and continue to build previously implemented projects.
For example, Novaland continues to build two major projects, Novaworld Ho Tram and Nova World Phan Thiet, with a total of 1,200 products expected to be delivered to customers in the fourth quarter. Investors such as Nam Group, Charm Group, etc. are also developing real estate projects in Ba Ria - Vung Tau and Binh Thuan in the fourth quarter, but are not opening new sales at the moment.
The market is absent of big brands
Although the market is vibrant, it can be seen that businesses with new projects opening for sale come from new brands and are mainly concentrated in the provinces surrounding Ho Chi Minh City.
From 2023 to now, Hung Thinh Corporation has no new projects for sale. The leader of this enterprise said that the enterprise is currently focusing on financial restructuring, trying to continue construction of previously opened projects.
Although the market is vibrant, it can be seen that businesses with new projects opening for sale come from new brands and are mainly concentrated in the provinces surrounding Ho Chi Minh City. 
Novaland Group also said that in the fourth quarter, it will focus on building projects such as Aqua City, projects in Ho Chi Minh City to hand over houses to customers, and will strongly develop the tourism sector in resort projects in Binh Thuan and Ba Ria - Vung Tau. For newly opened projects, the company has a plan but from 2025.
Ms. Nguyen Huong, General Director of Dai Phuc Land Real Estate Joint Stock Company (a member company of Van Phuc Group, the investor of Van Phuc City Project and Van Phuc Project in Binh Chanh District) said that in the fourth quarter of 2024, some townhouses at Van Phuc City Project in Thu Duc City will be opened for sale. In the first quarter of 2025, luxury apartments at this project will be opened for sale.
Mr. Nguyen Hoang, a real estate expert, assessed that looking at the overall market in the third quarter, it can be seen that it is starting to recover. The bright spot of the market is that after fluctuations in corporate finance, new brands have appeared and developed projects.
“Remember, in 2009, when the real estate market froze, large enterprises at that time struggled and closed down, new brands such as Novaland, Hung Thinh, Him Lam began to appear, and now, this is also happening, when a series of new enterprises appear. Another bright spot of the market is that newly opened projects have quite reasonable prices, going straight to the real estate segment of the people. In addition, in the third quarter, investors began to gradually solve their difficulties to return to the market in the first quarter of 2025,” said Mr. Hoang.
Mr. Nguyen Van Tung, General Director of Danh Khoi Real Estate Services Joint Stock Company (DKRS), commented that the market in the fourth quarter is shifting strongly in segments and products sold, as well as the excitement of product lines. This creates leverage for the market in 2025.
However, Mr. Tung noted that the fact that new product lines are mainly concentrated in some localities such as Binh Duong, Long An, while areas such as Ho Chi Minh City, Dong Nai, etc. are lacking new projects is a concern for the market in the fourth quarter. That creates competition and imbalance between supply and demand in localities.
Regarding the selling price in the fourth quarter, according to Mr. Tung, the primary selling price is expected to increase by 5-10% in Ho Chi Minh City and neighboring provinces, and remain unchanged or increase slightly by 2-3% in other areas. The secondary price has ended the situation of deep loss; the individual townhouse segment is expected to increase by 5-10%. The rental price tends to increase by 5-10% for the apartment segment and remains stable in the townhouse segment.
“The market at the end of the year will have some changes such as investors having plans to completely handle bad debts, increase capital to implement new projects and boost sales to increase market share. Real estate brokers will increase the scale of human resources and diversify business activities, creating more excitement for the market,” Mr. Tung added.
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