Interest rates for young people to borrow to buy their first home should only be 6 - 7%/year; Hanoi seeks investors for the Pearl Theater and 12,700 billion VND park project; Hanoi allocates land to build social housing in Dong Anh district.
From 2025, investors "holding" apartments will be very risky; Hanoi reclaims "golden" land at 275 Nguyen Trai
Interest rates for young people to borrow to buy their first home should only be 6 - 7%/year; Hanoi seeks investors for the Pearl Theater and 12,700 billion VND park project; Hanoi allocates land to build social housing in Dong Anh district.
Here are the real estate highlights of the week.
From 2025, investors who are "holding" apartments will be at great risk.
According to Mr. Nguyen Quoc Hung, Vice Chairman and General Secretary of the Vietnam Banking Association, many people currently buy real estate for speculative purposes. Therefore, despite high housing prices, many people still rush to buy because they expect prices to continue to increase, then sell them for profit. This expectation pushes up housing prices. But this is a big risk for the future, not only for people who have a real need to buy houses but also for investors and businesses.
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| Many apartments, even though they have been handed over for more than 10 years, still have prices equivalent to new projects. Photo: Thanh Vu |
Mr. Hung warned that people who are holding onto apartments with the expectation that apartment prices will only increase and not decrease will face great risks, starting from 2025. Because in the coming time, when the Government implements the Project of 1 million social housing apartments, the real estate market will return to its true nature.
“Banks keep lending, investors keep buying houses, later buyers have price differences with earlier buyers, the last buyers will suffer big consequences,” Mr. Hung warned.
According to the leader of the Banking Association, the Government has assigned targets, has many solutions to urge and certainly the target of 1 million apartments will be feasible. Currently, the banking industry is also ready to devote many resources with preferential loan packages with low interest rates to implement this Project.
Interest rates for young people to buy their first home should only be 6 - 7%/year.
In a report prepared for the upcoming Conference on promoting social housing and the healthy and sustainable development of the real estate market, the Ho Chi Minh City Real Estate Association (HoREA) has proposed many solutions to encourage the development of affordable commercial housing.
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| Interest rates on loans for social housing need to be more attractive. Photo: Thanh Vu |
In particular, HoREA has proposed that the State Bank of Vietnam (SBV) consider building a mechanism for young people (aged 18-45) to buy their first home and get a credit loan with a reasonable commercial interest rate (about 6-7%/year, secured by the house itself) for a period of 10-15 years.
This will create a "push" to encourage businesses to restructure existing real estate projects, shift investment to the affordable commercial housing segment, and together with the "Program to develop at least 1 million social housing apartments in the 2021-2030 period" will restructure the real estate market to be safe, healthy, and sustainable.
“Most young people are ambitious and have a long life to do business and pay off debts. Usually after about 10-15 years, their income will double or more than double, so there is almost no risk for commercial banks to lend,” the association assessed.
Hanoi seeks investors for the 12,700 billion VND Pearl Theater and Park project
Recently, the Tay Ho District Construction Investment Project Management Board (Hanoi) has just issued a notice inviting interest in the project to build the Pearl Theater and thematic cultural and artistic park with a total investment of 12,756 billion VND. The project's goal is to build a large-scale opera house and a multi-purpose cultural complex serving cultural, artistic and entertainment activities.
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| Overall perspective of the detailed planning project of the central spatial axis of Quang An peninsula. Photo: Tay Ho District People's Committee |
The project has a total area of over 19.1 hectares. Of which, the Pearl Theater and thematic cultural and artistic park are over 18.2 hectares, the parking lot is 0.4 hectares and the traffic road is over 0.5 hectares. The implementation location is in Quang An ward, Tay Ho district.
The land includes planning plots with symbols CXĐT.08, CXĐT.09, P2 belonging to the detailed planning project of the central spatial axis of Quang An peninsula, scale 1/500 approved by Hanoi People's Committee in November 2024.
Regarding the location and boundaries of the project, the East and Southeast border Dang Thai Mai Street; the West and Southwest border West Lake; the Northwest border the existing residential area; the North border the planned road connecting Dang Thai Mai Street with Quang Ba.
The overall project progress is expected to last from the first quarter to the third quarter of 2029. In particular, the preparation phase is from the first quarter to the third quarter of 2025, the implementation phase is from the fourth quarter of 2025 to the first quarter of 2029, and the construction completion phase is from the second quarter of 2029 to the third quarter of 2029.
Thanh Oai District opens land auction in place where price was pushed up to 100 million VND/m2
Vietnam Auction Joint Stock Company has just announced the auction of land use rights for 54 plots of land in Ngo Ba area, Thanh Than village, Thanh Cao commune, Thanh Oai district (Hanoi).
Accordingly, the 54 plots of land are divided into three groups according to the starting price. The first group consists of 6 plots with a starting price of 16.3 million VND/m2. The second group consists of 24 plots with a starting price of 15.6 million VND/m2. The third group consists of 24 plots with a starting price of 10.9 million VND/m2.
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| Image of the land lot that won the bid of 100.5 million VND/m2 in Thanh Cao commune, Thanh Oai district. Photo: Tam Phuc Real Estate. |
With an area of 60 - 85m2, the plots of land put on the market will have a starting price ranging from 656 million - 1.3 billion VND. The corresponding deposit will be around 130 - 265 million VND/plot.
Notably, instead of a multi-round auction like previous sessions, this time the auction will be held in the form of a direct secret ballot in one round. The auction is scheduled to take place on March 1 at Thanh Oai District Gymnasium.
Previously, on August 10, 2024, also in Ngo Ba area, Thanh Than village, Thanh Cao commune. Thanh Oai district organized an auction of 68 land lots. The plots have an area of 60 - 85 m2, starting price ranges from 8.6 - 12.5 million/m2.
What has stirred up public opinion is the winning price of the land plots. The corner lot here has the highest winning price, up to 100.5 million VND/m2, 8 times higher than the starting price. The other lots have equally high winning prices, ranging from 63 - 80 million VND/m2, 5 - 6.4 times higher than the starting price. These are unprecedented high numbers for the land market in Thanh Oai district.
However, when the payment deadline came, only 13/68 lots were paid in full. The lot with the winning price of 100.5 million VND/m2, along with many other high-value lots, were all forfeited. Subsequent auctions in Thanh Oai district continuously recorded a decrease in winning prices and the number of participants.
Hanoi allocates land to build social housing in Dong Anh district
The Hanoi People's Committee has issued Decision No. 699/QD-UBND on the allocation of 24,000.6 m2 of land (phase 2) with completed site clearance, at plot CT3 in Kim Chung New Urban Area, Kim Chung Commune, Dong Anh District to the Joint Venture of Hanoi Housing Investment and Development Corporation and Viglacera Corporation - JSC to implement the social housing construction project.
Of which, 2,701.6 m2 is used for traffic construction land; 21,299 m2 is used for urban residential land.
The form of land allocation is the State allocates land with land use fee collection. Land use term: For investors, the land can be used from the date of signing the land allocation decision until November 10, 2061; for apartment owners: Long-term stable use.
The joint venture of Hanoi Housing Development and Investment Corporation and Viglacera Corporation - JSC is responsible for synchronously constructing technical infrastructure, maintaining and repairing the project after construction investment and handing it over to the local government for management and common use in the City according to regulations. Form of land allocation: The State allocates land without collecting land use fees.
The method of land allocation is land allocation without auctioning land use rights, without bidding to select investors to implement projects using land.
Hanoi reclaims more than 4,000 square meters of land in the high-end eco-urban area of Dan Phuong
The Hanoi People's Committee has issued a Decision on the recovery of 4,070 m2 of land at the land plot marked CCĐT belonging to the Dan Phuong high-class ecological urban area project, Dan Phuong district, managed by the Hanoi Land Fund Development Center.
The reason for the withdrawal is according to the mechanism, management plan, handover, and exploitation of the product stipulated in Clause 13, Article 1 of Decision No. 954/QD-UBND dated March 4, 2020 of the Hanoi People's Committee and the policy approved by the Hanoi People's Committee in Document No. 15871/VP-TNMT dated December 25, 2024 of the Office of the Hanoi People's Committee.
According to the introduction, the high-end eco-urban area project Dan Phuong (commercial name The Phoenix Garden) was started in 2009. The project is located in Phung town, Dan Phuong district.
Previously, in November 2024, the Hanoi People's Committee issued a decision to adjust the name of the land user at the Dan Phuong high-end ecological urban area project of nearly 45 hectares, from DIA - Ha Tay Investment and Development Company Limited to DIA Investment Joint Stock Company.
At the same time, adjust the content of handing over nearly 45 hectares of land in Dan Phuong commune, Dan Phuong district to DIA Investment Joint Stock Company to implement the investment project to build a high-class ecological urban area in Dan Phuong.
According to the decision approving the housing development plan of Hanoi City for the period 2021-2025, the project has a total investment of 1,974 billion VND and a scale of nearly 45 hectares. The progress is approved from the fourth quarter of 2018 to the fourth quarter of 2024. The number of products includes 626 low-rise apartments.
Hanoi reclaims "golden" land at 275 Nguyen Trai
Recently, the Hanoi People's Committee issued a decision to reclaim 3,557 m2 of land (plot N02) from Hung Viet Trading Joint Stock Company, belonging to the 20% land fund of the Golden Land Building commercial - service and housing center project.
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| The Golden Land Building project has a prime location right on Nguyen Trai Street and is only about a 5-minute walk from Ring Road 3 Station. Photo: Thanh Vu |
The above project is located at 275 Nguyen Trai Street, Thanh Xuan District. Previously, this land plot was approved by Hanoi City to invest in building housing for civil servants and officials of the Department of Natural Resources and Environment.
The Hanoi People's Committee said that the decision to revoke was made according to the conclusion of the Government Inspectorate on the change of land use purpose from production and business land to land business and housing construction in the period 2011 - 2019 of state-owned enterprises and equitized enterprises.
The Hanoi People's Committee will hand over the above-recovered land area to the Hanoi Land Fund Development Center for management and propose an exploitation plan according to regulations.
Previously, in October 2024, the Government Inspectorate announced the inspection conclusion on projects showing signs of violating the law, including the land plot at 275 Nguyen Trai.
Da Nang proposes support mechanism for implementing social housing investment projects
The People's Committee of Da Nang City has just submitted a Resolution regulating the support mechanism for implementing social housing construction investment projects in the city to the City People's Council.
Specifically, the People's Committee of Da Nang City proposed a support policy that prioritizes the allocation of land funds under the City's management, in accordance with district-level land use planning or construction planning, urban planning and in accordance with the City's housing development program and plan to carry out procedures to call for investment in social housing.
The People's Committee of Da Nang City believes that, in terms of practical basis, one of the important steps that determines the progress of social housing project investment is accessing land funds. Accessing cleared land funds and complete surrounding infrastructure will shorten the implementation time of social housing projects from 1 to 3 years.
“In addition to the land fund for building social housing in commercial housing projects, it is necessary to issue policies to prioritize land funds managed by the city, especially large land funds in some areas near the city center, resettlement areas invested with public investment capital to call for investment in social housing”, the People's Committee of Da Nang City stated its opinion.
Source: https://baodautu.vn/batdongsan/tu-nam-2025-nha-dau-tu-om-chung-cu-se-rat-rui-ro-ha-noi-thu-hoi-khu-dat-vang-tai-so-275-nguyen-trai-d246675.html
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