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Vietnam’s Top Property News – Week 7/2021

Posted by Khoi Pham on February 20, 2021

The top residential and commercial real estate news of the Week 7/2021 and property recommendations:

Information herein has been obtained from sources believed reliable, please analyze and use it at your own responsibility and independently confirm its accuracy and completeness.

NEW – LUMIÈRE riverside, Phase 2 (District 2, HCMC):

  • Developed by Masterise Homes
  • 1-3 Bedrooms (48-113m2)
  • ~4,500USD/m2

NEW – The 9 Stellars (District 9, Thu Duc City):

  • 3000 apartments and 159 Villas
  • 2,300USD/m2 for apartments and 5,500USD/m2 for villas
  • Developer: SonKim Land
  • Special Promotion: 3% Discount for booking in February

NEW – Meyhomes Capital Phu Quoc:

  • Developed by Tan A Dai Thanh Awarded with Labor Medal and 25 Years with Good Contributions to Vietnam Economy
  • Is the First and Limited Landed Property with Freehold Tenure on Phu Quoc City (just Upgraded to City)
  • Shophouses from 117-206m2
  • Affordable from 350,000 USD
  • Special Promotion: 8% Discount

NEW – Kallias Complex City Phu Yen:

  • Developed by NDMReal
  • Located at a prime location: on coastal road at the beach city center, Tuy Hoa City, Phu Yen
  • With an AccorHotels Group brand operating right at the project
  • Shophouses from 90-100m2
  • Price per unit from 260,000 USD

Hyatt Regency Ho Tram:

  • Developed by Hyatt Hotels & Resorts
  • President Villa/Beach Front Villa/Sea View Villa/Garden Villa from 290-1000m2
  • Limited 63 units
  • Million Dollars Project
  • Beach Property

The Metropole Thu Thiem – The Opera Residence (District 2):

  • Available units at the podium
  • 1-3 Bedrooms (60-130m2) Available to Buy Directly from Developer
  • ~6,600USD/m2

The River Thu Thiem (District 2):

  • Ultimate Collection: 12 Penthouses and 12 Pool Villas
  • Unobstructed River View
  • Million Dollars Project

Angel Island (Dong Nai Province):

  • Elite Villas/Garden Villas/Grand Villas/Shop Houses from 154m2-360m2
  • First and Unique Island Property with Yacht Marina Entrance MAINLY
  • Million Dollars Project

Aqua City (Dong Nai Provice):

  • Townhouses/Villas/Shophouses from 120m2-360m2
  • Decent Eco Satellite City Adjacent to HCMC
  • Affordable from 300,000 USD

Masteri Centre Point (District 9, Thu Duc City):

  • Developer: Masterise Homes
  • Total scale: 10 towers
  • Unit size: 1 – 4 bedrooms
  • Affordable from 140,000 USD

Habana Island Ho Tram:

  • Semi Detached Villas/Single Villas from 160m2-240m2
  • Unique Island Property with View to Ocean and View to River
  • Million Dollars Project

NovaWorld Phan Thiet:

  • Townhouses/Semi Detached Villas/Shophouses from 100m2-150m2
  • Capital Gain Guarantee 13%/year
  • Affordable from 200,000 USD
  • Beach Property

NovaWorld Ho Tram – Tropicana:

  • Townhouses/Semi Detached Villas/Shophouses from 160m2-260m2
  • Capital Gain Guarantee 13%/year
  • Affordable from 300,000 USD
  • Beach Property

Review the Vietnamese New Year for 60 seconds before the New Year’s work

The video recorded the image of the New Year festival, granting lucky words from the calligraphy master, the blooming gardens… bringing a lively Tet atmosphere

Source: Tourism Dept

3 scenarios for the real estate market in Ox year

Having more than 20 years operating in the banking and finance industry and real estate, Mr. Tran Khanh Quang, General Director of Viet An Hoa Company, said that the year 2021 poses more challenges for the real estate market than last year. Sharing with VnExpress, Mr. Quang stated 3 scenarios of the real estate market might face from the New Year onwards.

Real Estate Market in the South of Ho Chi Minh City. Photo: Minh Le

The bright scenario

The probability of this scenario is 20%, which means the bright market expectation in 2021 is low.

The condition of the real estate picture can pick up is Vietnam controls Covid-19 well, creating a basis from the third quarter to reopen the international flights for foreigners who have vaccinations to enter Vietnam.

If this bright scenario plays out, apartment prices will increase by 15-20% and landed property prices will increase by 20-30%.

After screening out the less reputable developers, the resort real estate market with convenient travel distances to Ho Chi Minh City will enter the pre-recovery phase, tourism capitals like Phu Quoc, Ba Ria Vung Tau, Lam Dong, Nha Trang, Phu Yen, and Quang Ninh could attract more investment.

Thu Duc city attracts investment resources thanks to centralized infrastructure connection. Suburban land in Ho Chi Minh City continues to be a favorite investment channel and spreads to provinces 100-200 km away from the city center.

The average scenario

The probability of this scenario is 65%, which means a very large possibility the real estate market will slow down but stay firmer compared to 2020.

The average scenario is Vietnam controls the epidemic by the end of March 2021, although the epidemic still occurs locally in some places, it is still zoned and defended safely.

If the average scenario occurs, apartment prices will increase by 5-9% and landed property prices will increase by 8-15% in 2021. High-end apartments will consume slowly. Apartment transactions in the secondary market (units opened for sale before 2020) will be more active in 2020.

Thu Duc City, after the recent hot growth, will have a strong adjustment in the last months of 2021. Suburban land, adjacent to or 1-2 hours from Saigon, will attract capital from individual and institutional investors, following infrastructure projects in large urban areas, industrial parks, airports, highways…

The province’s real estate markets may attract attention in 2021 include: Ba Ria Vung Tau, Ben Luc, Long Thanh, Nhon Trach, Phu Quoc, Lam Dong, Phu Yen.

The dark scenario

The probability of this scenario is 15%, the real estate market will slow down or recess is not too high, but this scenario is still worth considering to have a risk provision plan. From a safety standpoint, the 15% risk falls within the category of early warning.

The dark scenario will occur when the number of Covid-19 infections is still increasing, the pandemic continues to be complicated and there are many challenges in disease prevention.

If this scenario happens, high-end real estate becomes redundant. Large inventories will shift from the end of 2020 leads to selling prices will be reduced by 5-10% through discounted promotions. Apartments on the secondary market (opened for sale before 2020) with a 5-10% discount will be easier to trade than remaining the market price.

Resort real estate continues to face difficulties. The most risky is the condotels when the real estate market decelerates in the context of a complicated pandemic. However, suburban land is still a safe haven for the property. Large townhouses will face difficulties and most transactions will be around 4-8 B VND.

Source: VnExpress

VEPR offers two scenarios for economic growth

In the two scenarios given, VEPR is inclined to the base scenario with a forecast of the highest GDP growth rate in 2021 of about 5.8%.

According to the latest macroeconomic report, the Vietnam Institute for Economic and Policy Research (VEPR) offers two economic growth scenarios for Vietnam. In which, VEPR is inclined to the baseline scenario – the epidemic has not spread for most of the year and the domestic economy continues to operate normally with the gradual return to a normal state of the global economy.

Diseases in many important economic and financial centers of the world may reappear locally on a small scale in some countries. Accordingly, the impact of Covid – 19 on the agriculture, forestry, fishery, manufacturing, processing and service sectors will not be more serious than in 2020. The annual economic growth forecast is at 5.6-5.8%.

The second scenario is an unfavorable scenario where a domestic epidemic breaks out with a new variant of Covid-19 in 2020, disrupting economic activity. At the same time, epidemics in many important economic – financial centers in the world have not improved much because the effectiveness of vaccinations take longer time to reach people. Under this scenario, the annual economic growth will be 1.8-2%.

Inside a steel factory. Photo: Phuong Dong

In addition, the VEPR report also stated that Vietnam’s GDP in 2020 increases only 2.91% while money supply growth at 12.6% is a worrying sign. This agency mentioned three possibilities:

A part of credit growth was thanks to the rescheduling structure or debt reversal for businesses that were facing difficulties and could not pay on time. Second, a large amount of money was absorbed by government bonds (in 2020, the State Treasury issued a number of bonds with a value of about 219,000 Billion VND and was mainly bought by credit institutions). Third, credit flows do not go directly into production, but mainly flow into consumption channels of imported goods and asset transactions such as stocks and real estate.

Although consumer prices are quite stable, the asset price bubble (besides bad debt) is a worrying risk when monetary policy is loosened, VEPR warned. The production sector is not the main beneficiary of many benefits from the expansionary monetary policy.

In 2020, the State Bank of Vietnam has three times lowered its interest rate instruments. However, the policy space is no longer that wide in 2021. Therefore, VEPR assesses that macro policies to support economic growth and social security will face more limitations.

Source: VnExpress

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