There is a situation of rapid increase in land prices in some localities - Lang Son Newspaper and Radio and Television Station

Real estate inventory in projects continues to decrease compared to the fourth quarter of 2024, but is uneven across real estate types. The individual housing segment is about 83.5% compared to the fourth quarter of 2024, while the apartment and land segments are still higher than the fourth quarter of 2024 - Photo: Construction Newspaper

In the first quarter of 2025, a number of large enterprises have shown positive results and contributed to the overall development of the market, such as Vinhomes Group ( Vingroup ), international investors such as Masterise and Lotte... mainly thanks to a number of real estate projects with prime locations and high profit margins. The real estate market also saw an increase in supply and transactions, specifically real estate segments such as houses, land, villas and apartments with a significant increase in supply.

In particular, projects in satellite cities such as Hanoi and Ho Chi Minh City have reopened for sale, meeting market demand; transaction volume has increased sharply, especially in the low-rise housing and land segments; many real estate products have been consumed quickly, showing the renewed interest of investors and real buyers.

Licensed housing development projects, social housing increased sharply

Regarding the number of housing development projects, real estate projects licensed, under implementation, completed and eligible to sell future housing in the first quarter of 2025.

Commercial housing: 14 projects have been completed with a scale of about 3,813 units, equal to 140% compared to the same period in 2024; 26 new projects have been licensed with a scale of about 15,780 units, equal to 136% compared to the same period; 59 projects are eligible to sell future housing with a scale of about 19,760 units, equal to 155.2% compared to the same period; 994 projects are under construction with a scale of about 399,873 units.

Regarding social housing projects for low-income earners and industrial park workers, in the first quarter, the whole country had 19 social housing projects for low-income earners and industrial park workers with a scale of 16,805 units completed and granted construction permits. Of which, 11 projects with a scale of 4,155 units were completed; 8 projects with a scale of 12,650 units were granted permits and construction started.

Implementing the Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the period of 2021-2030", the Ministry of Construction said that nationwide, 657 social housing projects have been implemented with a scale of 597,152 apartments. Of which: The number of completed projects is 103 projects with a scale of 66,755 apartments; The number of projects that have started construction is 140 projects with a scale of 124,352 apartments; The number of projects that have been approved for investment policy is 414 projects with a scale of 406,045 apartments.

Regarding the implementation of the 120 trillion VND credit package for social housing loans, so far only 38/63 provincial People's Committees have sent documents or announced on the electronic information portal the list of projects participating in the Program with a total of 97 projects. The disbursement turnover of the Program reached 3,402.51 billion VND.

Real estate inventory decreased

According to data compiled by the Department of Construction of localities, in the first quarter of 2025, the number of successful transactions of apartments and individual houses was 33,585, equal to 132% compared to the fourth quarter of 2024; the number of successful land transactions was 101,049, equal to 116.4% compared to the fourth quarter of 2024.

The volume of real estate transactions in 3 types (apartments, individual houses and land) in the first quarter of 2025 tends to increase compared to the fourth quarter of 2024 (the volume of apartment and individual house transactions in the fourth quarter of 2024 is 25,409 transactions; the volume of land transactions in the fourth quarter of 2024 is 86,796 transactions).

Real estate inventory in projects in the first quarter of 2025 is about 23,400 units/plots (including apartments, individual houses, and land), of which: 2,339 apartments; 9,376 individual houses; 11,685 land plots.

The Ministry of Construction assessed: Real estate inventory in projects continued to decrease compared to the fourth quarter of 2024, but was uneven across real estate types. The individual housing segment was about 83.5% compared to the fourth quarter of 2024, while the apartment and land segments were still higher than the fourth quarter of 2024.

Apartment prices stagnate, villa prices continue to rise

Apartment prices in the first quarter of 2025 in major cities such as Hanoi and Ho Chi Minh City, Da Nang City, and Hai Phong City generally did not fluctuate much compared to the fourth quarter of 2024; by segment, specifically as follows: The affordable segment has a price under 45 million VND/m2; The mid-range segment has a price of about 45-70 million VND/m2; The high-end segment has a price of about 70 to over 100 million VND/m2; The super luxury segment has appeared in a few projects with a price of approximately 200 million VND/m2.

According to the Ministry of Construction, in the first quarter of 2025, according to surveys and reports from several major cities and provinces (Hanoi and Ho Chi Minh City), apartment prices in major cities have slowed down and are no longer increasing as sharply as in 2024.

For villas and townhouses in the project, according to surveys and reports from several major provinces and cities such as Hanoi and Ho Chi Minh City, ... in general, the price of villas and townhouses in the project continues to increase in the fourth quarter of 2024.

For example, in Hanoi city, the selling price of townhouses and villas in the project has increased by about 5-10% compared to the fourth quarter of 2024. In particular, the common selling price ranges from 100-200 million VND/m2; some projects have selling prices up to over 300 million VND/m2 (Vinhomes Riverside project (Long Bien) 240-450 million VND/m2; Rue De Charme project (Thanh Tri) 271-390 million VND/m2; My Dinh Song Da - Sudico urban area has selling prices from 300-550 million VND/m2.

In Ho Chi Minh City, the selling price of townhouses and villas in the project is basically stable; some areas and projects have an increase in selling price of about 3-5% compared to the fourth quarter of 2024; the common selling price ranges from 90-250 million VND/m2; some projects have very high selling prices (Phu My Hung Project, Tan Phong Ward, District 7, Ho Chi Minh City is selling at a price of about 215 - 415 million VND/m2; Hado Centrosa Garden Project has a selling price of about 410-560 million VND/m2; Nam Vien Project, Road 17, Tan Phu Ward, District 7, Ho Chi Minh City has a selling price of about 265-390 million VND/m2;...).

Land prices increase rapidly in some localities

For individual houses and land, the transaction prices of houses and land in the first quarter of 2025 in localities fluctuated more than in the previous quarter, due to information about merging provinces and cities. In provinces and cities with information about new administrative agencies, the price level was pushed up and the transaction volume also tended to increase.

In particular, at this time, there has been a rapid increase in land prices in some localities such as Bac Giang, Phu Tho, Ninh Binh, Thai Binh, Hung Yen, Hai Phong, Dong Nai. However, this increase in price and quantity is due to speculative transactions and poses many risks to the market. In this situation, local management agencies have warned people to be cautious with unofficial information and at the same time implemented control measures and strengthened management of the real estate market in the area.

The Ministry of Construction is drafting a National Assembly Resolution on piloting a number of specific mechanisms and policies for social housing development and guiding and urging localities to deploy and implement them - Photo: Construction Newspaper

Promote social housing and low-cost housing projects

To help the real estate market develop more sustainably and stably in the future, the Ministry of Construction recommends that ministries, branches and central agencies increase the effectiveness of inspection, examination and resolution of difficulties and problems according to their fields and authorities, especially in construction investment activities, real estate business, land use rights auctions, etc.

The Ministry of Construction will continue to review and complete legal regulations on housing, social housing, real estate business, urban planning, etc., to meet the implementation of the policy of organizing two-level local government; including issuing guidelines for reviewing urban planning and evaluating urban areas after rearrangement; issuing guidelines for numbering and attaching house numbers and construction works in urban and rural areas to ensure scientific, consistent and synchronous implementation.

Continue to direct, urge and guide localities to review and remove difficulties and obstacles related to real estate projects. Coordinate with the Prime Minister's Steering Committee No. 751/QD-TTg dated April 11, 2025 to resolve difficulties and obstacles of pending projects.

Preside over and coordinate with relevant agencies to study and develop a National Assembly Resolution on piloting a number of specific mechanisms and policies for social housing development and guide and urge localities to deploy and implement them. Organize inspections, urge and guide localities to implement and complete social housing development targets.

The Ministry of Construction continues to preside over and coordinate with the Ministry of Natural Resources and Environment and relevant ministries and branches to study and propose a pilot project on the model of "Real estate and land use rights transaction center managed by the State" to improve management efficiency and enhance the publicity and transparency of real estate transactions in the market.

The Ministry of Construction requested the Ministry of Agriculture and Rural Development to monitor and synthesize information on the issuance of land price lists by localities according to the provisions of the 2024 Land Law; promptly propose solutions and measures to limit the negative impacts of the issuance of land price lists on land prices, housing prices, and supply and demand of the real estate market.

The Ministry of Finance continues to review and classify difficulties and problems related to projects to synthesize and report to the Prime Minister's Steering Committee No. 751/QD-TTg dated April 11, 2025 to resolve difficulties and problems of backlogged projects, including real estate projects. At the same time, research the formation of a social housing development fund or a suitable financial institution model to develop long-term and sustainable social housing. Research and propose tax policies to limit real estate speculation, ensuring compliance with Vietnam's socio-economic conditions and international practices...

"Localities also need to continue implementing synchronous solutions, grasp the situation, clarify the causes of fluctuations in real estate prices in the area, especially the phenomenon of rapid increase in housing prices and land prices in localities when there is information about policies and plans to merge provinces in the recent period, and proactively propose regulatory measures to ensure the market develops stably, healthily and sustainably," the Ministry of Construction proposed.

Source: https://baolangson.vn/xuat-hien-tinh-trang-dat-nen-tang-nhanh-cuc-bo-o-mot-so-dia-phuong-5046765.html