Real estate stocks increase 2-3 times: Big wave or warning signal?

Many real estate codes increased in price many times

TAL shares - Taseco Real Estate Investment JSC - officially moved to HoSE on August 1 with a reference price of VND25,500. By August 13, TAL's price had increased to VND35,250, equivalent to a growth of more than 38% compared to the opening price.

Notably, this is only the increase since the stock was listed on HoSE. Including the registration period for trading on UPCoM, TAL has grown nearly 72% since the beginning of 2025.

However, TAL is still not the most "shocking" price increase case in the real estate group.

Many other real estate stocks have recorded a 2-3 times increase compared to the beginning of 2025, such as LDG up 176%, SJS up 152%, VHM up 132% and CEO up 107%. Meanwhile, NVL (+80.5%), SCR (+73.1%) are also showing outstanding growth.

The positive developments came after the market recovered from the tariff shock, and the rise of Vingroup stocks after the listing of Vinpearl's VPL shares.

However, it also shows that a new cycle for the industry is opening. After removing legal obstacles, the financial system is pumping credit into real estate businesses.

At a recent meeting, Governor Nguyen Thi Hong said credit growth in the real estate sector was higher than the average in the first 7 months of the year.

As for Mr. Nguyen Anh Khoa, director of analysis at Agribank Securities Company (Agriseco), commented: The real estate group is a notable industry in the second half of the year, when the market nationwide is recording positive signs of recovery, especially in terms of supply and liquidity compared to the same period last year.

Share dilution and financial health should be noted

In this context, the story of capital increase appears in most real estate stocks as a survival requirement.

Recently, DXG's Board of Directors approved a plan to privately offer 93.5 million shares, equivalent to 9.18%, with the number of professional securities investors participating under 20.

Similarly, SJS (SJ Group) has just increased its charter capital from equity capital, issuing more than 182.6 million shares at a ratio of 100:159 (shareholders owning 100 shares will receive 159 new shares), including paying dividends and increasing capital from equity capital.

Meanwhile, TCH (Hoang Huy Financial Services) is raising more than VND2,000 billion from offering more than 200 million shares to invest in urban and apartment projects in Hai Phong , demonstrating its ambition to expand its scale and financial capacity.

Mr. Nguyen The Minh, Director of Research and Development for Individual Clients at Yuanta Securities Vietnam, said: Capital increase is an inevitable trend after a difficult period, but it comes with the risk of dilution and short-term fluctuations in supply and demand. However, the recovery cycle has begun, with the key being the removal of legal issues and "unleashing" projects.

Investors need to consider growth targets and tolerance for volatility, while prioritizing well-known businesses with good financial health to optimize opportunities.