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| The STC Long Thanh project in Long Thanh district. Photo: illustration. |
Investor caution, numerous projects facing legal obstacles, and a lack of new products that meet demand are the main reasons why the real estate market in Dong Nai remains sluggish.
Trading was quiet.
At major projects such as STC, Gem Sky World, HUD, Aqua City, etc., the atmosphere remains quite quiet; construction activity is limited, transactions are sparse, and some projects have even temporarily suspended construction.
In Long Duc commune (Long Thanh district), the Gem Sky World project, spanning over 90 hectares and invested by Dat Xanh Group, created a sensation in the market between 2019 and 2021 with thousands of units launched. However, currently, buying and selling activities are almost "frozen," transaction offices are deserted, and surrounding shops and restaurants are closed.
Mr. Trinh Xuan Son, an employee of Alpha Land Real Estate Exchange located within the project's premises, said that the developer has not yet launched a new sales phase, and the products currently being traded are mainly secondary market properties. Resale prices are significantly lower than at the time of the initial launch; while there are potential buyers, very few are making a purchase.
Not far away is the STC Long Thanh Project in Loc An commune (Long Thanh district), with over 1,000 townhouses and land plots, but the transaction situation is not very active. Mr. Dang, a real estate agent at this project, shared that land prices have slightly increased compared to the initial launch, but not significantly. Land plots within the project are being offered for sale at 3.5-4.2 billion VND/lot (approximately 35 million VND/m²). The lowest priced apartments are around 7.4 billion VND/unit, excluding taxes.
Since the beginning of 2024, the Government and ministries have issued many policies to support businesses and localities in handling interspersed residential land, granting land use certificates for projects... in large real estate projects. (Image: illustration)
According to Mr. Dang, banks currently offer loan support, and customers who make quick payments will receive discounts and gifts.
"The project's advantage is its location next to the Loc An - Binh Son resettlement area, benefiting from a comprehensive infrastructure system such as hospitals and schools... If you're looking to invest at this time, you should consider it," said Mr. Dang.
In Long Hung commune (Bien Hoa city), where many projects are located within the Long Hung open economic ecological urban area, the situation is similar. Some areas are under construction, but many others remain abandoned, overgrown with weeds, and the construction is unfinished.
At a meeting with the Ministry of Finance on May 8, 2025, the Chairman of the Provincial People's Committee, Vo Tan Duc, stated that since 2021, the province has had over 180 large real estate projects on the list of projects requiring review as recommended by the State Audit Office. To date, despite numerous efforts from the Government, ministries, localities, and businesses, more than 120 projects are still undergoing classification to resolve outstanding issues. This represents a "bottleneck" in the real estate market and also a "bottleneck" in the province's socio-economic development.
The legal project clearly has the advantage.
The Long Tho - Phuoc An urban area project in Nhon Trach district, invested by the Housing and Urban Development Corporation (HUD), covers more than 220 hectares and was once expected to be a driving force for the development of the new Nhon Trach urban area. However, after many years since its commencement, the area remains deserted, with many villas only having their foundations completed before being abandoned.
Mr. Dung, a real estate broker at Truong An Real Estate Transaction Point, said that when the information about the merger of provinces and cities first emerged, the price of land plots in HUD's projects, as well as many other places in Nhon Trach district, increased by about 30%. However, after the merger information became clear, interest quickly decreased, and transactions almost ceased.
Undeniably, Dong Nai has great potential for real estate thanks to its strategic location in the Southeast region and its rapidly developing infrastructure. However, to realize this potential, it is necessary to thoroughly remove legal bottlenecks so that businesses and buyers can invest with confidence.
Mr. Nguyen Van Cuong, Head of the Executive Board of the Vietnam Real Estate Brokers Association in Dong Nai, believes that investors still show great interest in real estate projects in Dong Nai. However, at this time, buyers are no longer speculators or short-term investors as before, but are increasingly concerned about legal aspects, progress, and the reputation of the developer. Projects with clear legal status and commitments to progress will attract customers better.
According to a representative of Dat Xanh Group, the company is coordinating with local authorities to resolve legal issues at the Gem Sky World project, while continuing to invest in infrastructure to be ready to launch the product when the market recovers.
Meanwhile, representatives from Novaland Group proposed that the Provincial People's Committee allow the simultaneous appraisal of the revised 1/5,000 scale zoning plan for Subdivision C4, while also addressing construction violations in the area. The goal is to expedite the approval process, minimize resource waste, and develop a modern urban area, overcoming the shortcomings of the old plan. This would both resolve obstacles for the project and contribute to revitalizing the real estate market in the province.
Le An
Source: https://baodongnai.com.vn/kinh-te/202505/du-an-bat-dong-san-lon-van-am-dam-6dc1d98/
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