Latest real estate: Main gate of land plot No. 419 Le Hong Phong, District 10, HCMC. (Source: Construction Newspaper)

Apartment group with the strongest price increase in the country

According to data from Batdongsan.com.vn , the number of searches for apartments in Hanoi increased sharply from the second quarter of 2023, peaking in August 2023, then decreasing due to many people selling.

From December 2023, apartment searches increased again and by March 2024 approached the peak of August 2023, but by April 2024, interest levels decreased by 23%.

Despite the decrease in interest, the asking prices of Hanoi apartments have not decreased. In April 2024, the prices of affordable apartments increased by 12%, mid-range apartments increased by 5%, and high-end apartments increased by 3% compared to the previous month.

In Hanoi, apartment prices have increased significantly in the past few years. The western part of the city, including districts such as Cau Giay, Nam Tu Liem and Bac Tu Liem, has become a hot spot in the market. High-end projects such as Vinhomes, Keangnam Hanoi Landmark Tower and Mandarin Garden are constantly sought after by customers, pushing up selling prices.

According to data from Batdongsan.com.vn , the following 10 apartment buildings are leading in price increase rate: M3-M4 Nguyen Chi Thanh Apartment, Sunshine Golden River, Hateco Hoang Mai, Gelexia Riverside, Vinaconex 7, New Horizon City - 87 Linh Nam, Eurowindow River Park, Duong Noi New Urban Area, Xuan Mai Sparks Tower, Thang Long International Village Urban Area.

In Ho Chi Minh City, the market is no less vibrant, with the explosion of apartment projects. District 2, District 9 and Binh Thanh are the areas with the strongest price increase. In particular, projects in Thu Thiem - one of the newest and most modern urban areas in Ho Chi Minh City, have recorded record price increases.

Top 10 apartments with the fastest price increase include: Q2 Thao Dien, Khang Gia Go Vap Apartment, Green View, Park View, Cantavil An Phu - Cantavil Premier, The Era Town, The Panorama, Urban Green, The Useful Apartment, Carillon 2.

Apartment prices are cooling down, should you invest in renting with billions?

With 3 billion VND available, investors are wondering whether they should "put down money" to buy an apartment to rent out now, or wait for the house price to decrease further?

Sharing his views on this issue, Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said that waiting for apartment prices to drop sharply is very difficult. Supply cannot improve quickly, because when the revised Law on Real Estate Business comes into effect, the number of investors meeting the requirements to implement the project will decrease.

Meanwhile, the need to own a house is always present, especially in large cities. Therefore, if you buy to live, you can transact when your finances allow to immediately meet the practical needs of settling down.

However, according to Mr. Quoc Anh, in the case of buying for investment, buyers should consider carefully.

“If you invest in the short term, you should not rush to put money down because the price and interest in apartments at this stage are not stable. When you need quick liquidity, investors will encounter difficulties. But if you invest in the long term and invest for the purpose of renting to generate cash flow, apartments are still a type of investment that can be considered.

The reason is that the growth in apartment investment profits (price growth rate plus rental yield) in the period 2015-2023 reached 97%, ranking No. 1 compared to other types of investment such as stocks, gold, savings, foreign currency. This information is compiled by us based on price history and big data," Mr. Quoc Anh informed.

Meanwhile, according to Ms. Cao Thi Thanh Huong, Senior Manager of Savills Ho Chi Minh City Research Department, when deciding to invest in apartments for rent, investors will usually prioritize apartments that have been handed over and have pink books to be able to borrow from banks. In the case of buying a new apartment, there are more calculations, it is possible that transferring a deposit to make a profit will be prioritized, then considering leasing and waiting for the price to increase.

Ms. Huong believes that now is the right time to invest in rental apartments, because in the next 3-5 years, the supply of inner-city apartments will still be scarce due to the limited land fund for project development. Therefore, after a period of rental exploitation, investors can sell to enjoy the price difference over time, while having additional cash flow from rental.

However, Ms. Huong noted that for investors, buying a house to wait for price increase or exploit for rent at this time also needs careful calculation.

First of all, the reputation of the investor, then the issue of apartment selling price. During the sales process, the houses sold in the later stages often have higher prices than the previous sales.

Therefore, investors will also implement many incentives and more diverse payment methods. Buyers need to compare and check prices carefully to decide whether to buy products from the previous or next phase.

“Buying products in the earlier stages will have better prices but shorter payment terms, so you need to prepare financial resources in advance. In the later stages, although the prices are higher, the payment schedule will be longer, so the financial pressure will be reduced,” said Ms. Huong.

In addition, Savills experts note that if investors need to use additional financial leverage from banks to buy apartments, they must carefully consider their financial situation, avoiding borrowing too much, leading to a large debt burden. At the same time, they should consider carefully when choosing a loan limit because no bank or investor can accompany them with a long-term commitment of up to 15-20 years. Therefore, a loan of about 50% of the product value is appropriate, while a loan of 70% or more will be highly risky.

HCMC: Reclaiming nearly 11,000m2 of "golden" land in District 10

The Ministry of Natural Resources and Environment has just issued Decision No. 818/QD-BTNMT on the settlement of the second complaint of Saigon G Education Joint Stock Company on the "golden" land with an area of ​​nearly 11,000m2, located at the corner of Vinh Vien - Le Hong Phong - Tran Nhan Tong, District 10.

Previously, Saigon Shoe Joint Stock Company (now Saigon G Company) was leased by the People's Committee of Ho Chi Minh City (HCMC) a land area of ​​nearly 11,000m2 at 419 Le Hong Phong, District 10, for use as an office, warehouse, and shoe and handbag factory. The lease term is until December 31, 2020.

On October 3, 2007, Ho Chi Minh City People's Committee issued Land Use Right Certificate No. AB 061724 to Saigon G Company, land use term until December 31, 2020.

On September 21, 2016, the People's Committee of District 10 reported on the results of the inspection of the operations of Saigon Shoe Joint Stock Company and Thanh Buoi Company Limited at 419 Le Hong Phong. Accordingly, the People's Committee of District 10 proposed that the People's Committee of Ho Chi Minh City consider terminating the land lease and reclaiming the area of ​​nearly 11,000m2 of land mentioned above.

In the immediate future, 4,500 square meters of land (area related to the operation of the disguised bus station) will be recovered and handed over to the People's Committee of District 10 to build a junior high school that meets the prescribed standards because currently, the inter-ward cluster 1, 2, 3, 9, 10, 11 does not have a junior high school.

In 2016 - 2017, the Department of Natural Resources and Environment of Ho Chi Minh City inspected and concluded regarding the above land. The Inspectorate's conclusion recommended that the City People's Committee handle Saigon Shoe Joint Stock Company for continuing to use the land for the wrong purpose or reducing the need to use the land.

On May 28, 2021, the People's Committee of Ho Chi Minh City issued Decision No. 1968/QD-UBND to reclaim this land area of ​​nearly 11,000m2. The basis for land reclamation is according to Point d, Clause 1, Article 65 of the Land Law, because the land was leased by the State for a term, the land lease expired on December 31, 2020 and the land lease was not extended according to the conclusion of the People's Committee of Ho Chi Minh City in Notice No. 434/TB-VP dated July 16, 2019.

After that, Saigon G Company complained about Decision No. 1968/QD-UBND. Saigon G Company requested to withdraw and cancel Decision No. 1968, creating conditions for the Company to continue leasing land and carry out construction investment in accordance with the planning or have solutions to harmonize the interests between the Company and the local government.

In August 2023, the Ho Chi Minh City People's Committee issued Decision No. 3557/QD-UBND to resolve the first complaint of Saigon G Company. Accordingly, the City People's Committee did not recognize the content of Saigon G Company's complaint, maintaining the content of Decision No. 1968.

Disagreeing with the decision of the Ho Chi Minh City People's Committee, G Saigon Company continued to send a second complaint to the Ministry of Natural Resources and Environment.

On January 4, 2024, at the headquarters of the Ho Chi Minh City Citizen Reception Committee, the Ministry of Natural Resources and Environment held a dialogue with Saigon G Education Joint Stock Company and the Ho Chi Minh City People's Committee.

At the dialogue, the representative of the Ho Chi Minh City People's Committee agreed with the verification results of the verification team of the Ministry of Natural Resources and Environment; proposed to maintain Decision No. 1968/QD-UBND dated May 28, 2021. The representative of Saigon G Education Joint Stock Company requested to withdraw and cancel Decision No. 1968. This company proposed to continue to lease the land.

The Ministry of Natural Resources and Environment concluded that the area of ​​nearly 11,000m2 of land that Saigon G Company complained about was leased by the Ho Chi Minh City People's Committee with annual land rent payment to be used as an office, warehouse, and shoe and handbag factory. The land lease term is until December 31, 2020.

Pursuant to the Land Law, the Ho Chi Minh City People's Committee's decision to reclaim the land leased to Saigon G Company for use due to its ineligibility for land use extension is in accordance with the law. Therefore, the Ministry of Natural Resources and Environment maintains Decision No. 3557/QD-UBND dated August 23, 2023 of the Ho Chi Minh City People's Committee on the settlement of the first complaint against Saigon G Company in accordance with the law.

The Ministry of Natural Resources and Environment requested Saigon G Company to comply with Decision No. 1968/QD-UBND on the recovery of a land area of ​​nearly 11,000 square meters at 419 Le Hong Phong, District 10.

Da Nang approves investment policy for a series of projects, total cost of more than 1,200 billion

On May 24, at the 17th session (special session), the People's Council of Da Nang City discussed and approved the investment policy of 7 projects, with a total investment of nearly 1,206 billion VND from the city budget.

Da Nang City People's Council approved the investment policy of 7 projects, with a total investment of nearly 1,206 billion VND. (Source: Vietnamnet)

Specifically, the projects approved for investment include: The current storage area of ​​the Da Nang City Administrative Center, with a total investment of more than 328.3 billion VND; upgrading the drainage system and undergrounding information cables and lighting on 4 inner-city roads (Phan Chau Trinh, Le Loi, Hoang Dieu and Ong Ich Khiem) with nearly 382 billion VND; and the 10.5m road from Ho Nghinh Street to Tran Bach Dang Street with more than 115.1 billion VND.

Phu Dong Primary School Project (facility 1), over 108.7 billion VND; building new classrooms at Phan Dang Luu Primary School, over 62.7 billion VND; upgrading and expanding roads with road width from 3.5-4m to 5.5m in Son Tra district (phase 2) over 103.6 billion VND; closing an open canal about 500m long in the Hong Thai - Tan Trao area (Lien Chieu district), with a total investment of over 105.5 billion VND.

Permanent Vice Chairman in charge of the People's Council of Da Nang City Tran Phuoc Son said that the approved projects aim to complete the infrastructure of residential areas, meet the requirements of traffic development, serve people's lives, and contribute to promoting socio-economic development...

Mr. Tran Phuoc Son suggested that immediately after the meeting, the People's Committee of Da Nang City direct all levels and sectors to urgently implement and ensure the progress and effectiveness of the approved resolution.