Latest real estate: Perspective of Harbour Center Hai Phong project. (Source: Silk Path Hotel Company Limited)

Continuously launching new projects in localities

Recently, Hai Phong has welcomed a new project, Harbour Center, located at 3 Le Lai Street, Ngo Quyen District. The project includes 74 adjacent lots, shophouses (commercial townhouses), with a scale of 5 floors, total usable area of ​​about 400 m2. In which, the floor area ranges from 68.6 - 161.8 m2, the common frontage is from 6-13.8 m. The project has a total area of ​​over 11,000 m2, invested by Silk Path Hotel Company Limited.

Hung Yen welcomed a new project supply, The Fibonan - a 32-storey mixed-use building with 3 basements belonging to the Hung Thinh villa and housing project - Cuu Cao commune, Van Giang district (Hung Yen). The project is invested by An Phu Invest. The scale of The Fibonan is 20,992m2, of which the construction land area is 4,370m2 with 656 units, with diverse areas from 43-96m2.

Ha Nam has a new project called Sun Urban City Ha Nam. The project is located in the new center of Phu Ly city with a scale of more than 400 hectares, of which 200 hectares are for water surface development, 19 hectares for Sun World park, 17 hectares for landscape lake, 28 hectares for new administration, 13 hectares for internal park and 60 hectares for the project. In terms of product types, the project is diverse with apartments, shophouses and villas with 40 9-storey buildings including about 15,000 apartments, 4,500 commercial townhouses and 1,200 semi-detached and detached villas.

Thanh Hoa also welcomed a new project supply from the Central Riverside project. The project is located in Dong Hai ward, Thanh Hoa city, invested by Taseco Land. It is known that Central Riverside has an area of ​​15.6 hectares with 493 products. Of which, there are 339 townhouses with an area of ​​80-134 m2, 94 shophouses with an area of ​​104-197 m2 and 60 villas with an area of ​​180-361 m2.

Bac Giang has a new project called The Terra – Bac Giang by investor Van Phu – Invest. The project is located in the southern urban area, Dinh Ke ward (Bac Giang city). The project is formed on an area of ​​45,059 m2 including 2 towers 28 floors high with a total of 688 apartments, 66 villas and 43 townhouses.

Mr. Le Dinh Chung, General Director of SGOHomes, said that in fact, Hanoi apartments still maintain their appeal and still dominate the market in both residential and investment. However, since the second quarter of this year, this segment has begun to share the investment pie with other segments and markets due to the strong boom of provincial real estate. Besides the boom of new projects in the provincial market, the real reason also stems from the fact that real estate prices in Hanoi in the current segments are too high, making investors find it no longer attractive.

The migration wave started in March 2024 and is getting stronger. In the migration wave, investors are looking for opportunities along economic axes related to industrial parks, provinces with developed economies, along developed traffic axes such as Bac Ninh - Bac Giang; Hung Yen - Hai Duong - Hai Phong - Quang Ninh.

Inventory is growing

According to information on Cafebiz, data from the Ministry of Construction shows that in the first months of the year, the real estate market has gradually become active again, the number of customers searching and trading has also increased gradually. The number of real estate transactions in early 2024 increased by nearly 30% compared to the end of 2023.

However, the real estate market still faces many difficulties. In particular, the number of completed projects, newly licensed projects, and projects eligible for future sale are all lower than the same period in 2023. Notably, the real estate inventory is still very large, mainly individual houses and land with 19,323 products, an increase of 43% compared to the end of last year.

The financial reports of 10 real estate companies developing housing listed on the stock exchange also show that the total inventory value as of June 31 was more than VND269,135 billion, an increase of nearly 3% over the same period. In fact, in recent years, the inventory value of many companies has not decreased but has increasingly "bloated".

Enterprises' inventories are recorded in two categories: finished real estate and unfinished real estate. For finished real estate, in the context of a difficult market, many enterprises have postponed their plans to release goods until the market warms up, leading to the inventory value at some enterprises not decreasing.

For unfinished real estate, this is the main type of inventory of real estate enterprises. The reason for the continuous increase in unfinished real estate inventory is that the legal process in many projects has been stuck for many years. It can be seen that after the period of market supply explosion (2018), the approval of housing projects in urban areas also began to slow down, due to increasingly deep legal procedural problems. This has caused the supply in the market to decrease steadily over the years, especially in large cities such as Ho Chi Minh City and Hanoi.

Besides, another reason for the high inventory is that the market is going through a period of hot development, many investors are pouring a lot of money into the provinces to develop speculative and investment projects such as land, resort real estate...

Up to now, the investment market has slowed down, making it difficult to find buyers and unable to liquidate even after completion. With this type of inventory, businesses will have difficulty resolving it in the context of the general market not yet bustling again.

Batdongsan.com.vn's report also pointed out that paradoxically, although the market is lacking new supply, the inventories of listed real estate businesses are still large, showing that the products do not match the actual needs of the market.

Ho Chi Minh City is adjusting, not building a new land price list yet

The new land price list of Ho Chi Minh City will be developed and applied from January 1, 2026. Currently, the City is implementing the adjusted price list according to the 2024 Land Law.

The above information was given by Director of the Department of Natural Resources and Environment Nguyen Toan Thang at the socio-economic meeting on the afternoon of August 1.

Director of the Department of Natural Resources and Environment of Ho Chi Minh City Nguyen Toan Thang at the City's socio-economic meeting on August 1. (Photo: Van Anh)

According to Mr. Thang, in the implementation of the 2024 Land Law (amended), the provincial People's Committee is allowed to consider, use or adjust the old land price list. On that basis, Ho Chi Minh City has a policy of adjustment but has not yet developed a new price list.

The land price adjustment consists of 7 steps, currently, the Department has completed 6 steps. All data collected by the consulting unit throughout the area has been recalibrated and transferred to the working group of the HCMC People's Council for review and appraisal.

The Department is adjusting and updating current land transaction prices, approved compensation prices, and specific market prices to ensure no loss in the context of the old price list being too low.

Mr. Nguyen Toan Thang gave an example, in the area there are some roads with the old price list of only 1-2 million VND/m2. Meanwhile, the actual transaction price is up to 100-200 million VND/m2. Therefore, the City needs to re-adjust to have the most suitable price list to use during this period.

In July, the number of land records in Ho Chi Minh City continued to increase with nearly 40,000 records, the majority of which were still sale and mortgage records. Ho Chi Minh City's land-related revenue was more than 12,000 billion in the past 7 months.

According to Vice Chairman of the Ho Chi Minh City People's Committee Vo Van Hoan, people and public opinion are very interested in the new land price list. Therefore, this information needs to be discussed and carefully considered.

The Department of Natural Resources and Environment is completing the final steps to submit to the Ho Chi Minh City People's Committee to issue a local land price list according to the 2024 Land Law.

Shorten the time to issue the first red book from August 1

The Government has just issued Decree No. 101/2024/ND-CP (Decree 101) regulating basic land surveys, registration of land use right certificates, ownership of assets attached to land, and land information systems. This Decree takes effect from August 1.

In particular, Decree 101 clearly stipulates that the time for first registration of land and assets attached to land is no more than 20 working days.

The time for issuing the first land use right certificate (red book) and property ownership certificate attached to land (pink book) is no more than 3 working days.

According to the above regulations, the entire process of registering land and assets attached to land for the first time and issuing red books and pink books for the first time is no more than 23 working days.

For mountainous communes, islands, remote areas, areas with difficult socio-economic conditions, areas with especially difficult socio-economic conditions, the processing time for the first red book issuance procedure is increased by 10 working days.

Meanwhile, according to previous regulations, the time to carry out the procedure for issuing the first red book was no more than 30 days from the date of receiving valid documents and no more than 40 days for remote areas.

Thus, in the newly issued decree, the Government has shortened the time for registration procedures and issuance of red books and pink books for the first time.

The time for issuing the first red book is calculated from the date of receiving the complete and consistent application according to the provisions of Point a, Clause 1, Article 19, Decree 101.

Along with that, Decree 101 also specifically regulates land registration and assets attached to land.

According to this Decree, the time for registering changes in land and assets attached to land, and granting certificates of land use rights and ownership of assets attached to land is implemented as follows:

- In case of conversion of agricultural land use rights without following the land consolidation or plot exchange plan, or in case of transfer, inheritance, donation of land use rights, ownership of assets attached to land, capital contribution using land use rights, ownership of assets attached to land, it shall not exceed 10 working days.

- In case of selling or contributing capital with assets attached to land leased by the State with annual land rent payment, it shall not exceed 10 working days and shall not include the time for determining land price and signing land lease contract.

- In case of leasing or subleasing land use rights in infrastructure construction and business projects, it shall not exceed 5 working days.

- In case of cancellation of registration for lease or sublease of land use rights in infrastructure construction and business projects, it shall not exceed 3 working days.

The content of the first registration of land and assets attached to land includes: information about the land user; owner of assets attached to land; person assigned land for management, including name, personal documents, legal entity, address of the land user, owner of assets attached to land and person assigned land for management.

Land plot information includes plot number, map sheet number, address, area, land type, land use form, land use origin and other information about the land plot.

Information on assets attached to land includes asset type, address, construction area, floor area, usable area, form of ownership, ownership period and other information on assets attached to land.

Requirements for registration of land use rights, assets attached to land or land management rights or issuance of certificates of land use rights, ownership of assets attached to land for land plots and assets attached to land.

Other requests of land users, owners of assets attached to land, and people assigned land for management in accordance with the provisions of the law on land (if any).

Regarding the place to receive dossiers and return results of land registration procedures and land-attached assets, Decree 101 stipulates: the agency to receive dossiers and return results includes the one-stop department according to the regulations of the provincial People's Committee on receiving dossiers and returning results of administrative procedures at the provincial, district and commune levels; land registration office; branch of land registration office.

Applicants can choose to submit their applications in the following ways: directly at the prescribed agencies, via postal service, at a location agreed upon between the applicant and the land registration office, or on the national public service portal or provincial public service portal.