Category: Market News

Foreign buyers have four more housing projects to choose from in Ho Chi Minh City. On 12 October 2026, the city’s Department of Construction published an updated list of residential projects where foreign individuals and organisations may own homes, adding developments in An Khanh Ward (former Thao Dien, District 2), Long Binh Ward and Binh Hoa Ward (former Thuan An, Binh Duong). The update follows earlier additions in July and August that had already taken the city’s list to 148 projects.

The four newly listed projects

In total, the four projects add 354 homes to the foreign-ownership list. Each project on the list has received written opinions from the Ministry of National Defence and the Ministry of Public Security’s Economic Security Department, as required by Decree 95/2024/ND-CP.

Why the list matters

Under Vietnamese law, foreigners can only buy homes in commercial housing projects that are not in areas restricted for national defence and security reasons. Since Decree 95/2024 took effect, provinces must publish lists of eligible projects. Buying in a project that is not on the list can lead to problems registering ownership, so checking the list is the first step for any foreign buyer.

The rules for foreign buyers in brief

• Eligible projects only: the project must be on the published list for the province or city.
• Apartment quota: foreigners may own no more than 30% of the apartments in a single condominium building.
• Landed homes: no more than 250 individual houses within an area equivalent to a ward.
• Ownership term: generally up to 50 years from the issue of the certificate, with the possibility of extension under the Housing Law.
• Payment: funds should be transferred through a Vietnamese bank account in line with foreign-exchange rules.

These rules come from the 2023 Housing Law and Decree 95/2024. Because procedures and quotas are applied building by building, always ask the developer or management board how much of the foreign quota remains before you commit.

Where foreign demand is concentrated

The new additions follow a familiar pattern. Thao Dien and the wider An Khanh Ward – home to many expat families and international schools – continue to attract premium projects for foreign buyers. The northern belt of former Binh Duong, where industrial parks such as VSIP employ many foreign managers, is also gaining eligible projects. Earlier additions this year included major Thu Thiem developments such as Empire City and The Zeit River, as well as Xi Riverview Palace in Thao Dien.

Established projects popular with foreign residents include Masteri Thao Dien, Vinhomes Central Park and The Metropole Thu Thiem, while among new launches, Gladia Heights has stated that it is open to foreign individuals and organisations.

Checklist for foreign buyers

• Confirm the project and building appear on the latest published list.
• Ask how many units in the building have already been sold to foreigners.
• Check whether the unit already has, or will receive, an ownership certificate in your name.
• Make payments through a Vietnamese bank account and keep all transfer records.
• Use an independent lawyer to review the sales contract, especially the clauses on handover, title and transfer.

Market context

The updates come as Ho Chi Minh City’s apartment market remains slow – Savills reported only 25% absorption in Q3 2026 – while foreign direct investment is strong, with newly registered FDI of about US$9 billion in the first nine months. Expanding the pool of eligible projects gives developers access to foreign demand, and gives expatriates and overseas investors more choice in the areas where they actually want to live.

Frequently asked questions

Sources

• Doanh nhân & Pháp luật – HCMC publishes 4 more projects foreigners may own (12 Oct 2026)
• Nhà Đầu Tư – HCMC list reaches 148 projects (14 Aug 2026)
• Việt Báo – Savills Q3 2026 HCMC data

Ho Chi Minh City is speeding up social housing, but the gap with its targets is still wide. The city’s Department of Construction now expects 13 projects with about 9,000 units to be completed by the end of 2026, up from just 2,283 units finished so far. Earlier in October, the city also published indicative prices for five social housing projects, ranging from about VND 19.8 million to more than VND 35 million per m² – roughly a third to a quarter of new commercial apartment prices.

Where things stand

Indicative prices for five projects

On 7 October, the city published provisional prices for five social housing projects. Official prices will be appraised and approved at the time of sale.

For comparison, Savills and listing data show new commercial apartments in Ho Chi Minh City averaging around or above VND 100 million per m² in 2026. A 60 m² social housing apartment at VND 20–30 million per m² would cost roughly VND 1.2–1.8 billion, versus VND 6 billion or more for a similar-sized new commercial unit in many central or eastern projects.

Who can buy social housing?

Social housing is reserved for eligible groups defined by law – typically low- and middle-income workers, civil servants, armed forces personnel and people affected by land clearance who do not own a home or have very limited housing space, subject to income limits. Applications are made per project once it reaches the stage where registration is allowed (usually from foundation level). Because conditions and income thresholds change, check the current rules with the Department of Construction or the project developer before applying.

The bottlenecks

The city has 191 projects and sites covering about 740 hectares earmarked for social housing, with plans to add about 1,000 hectares by 2040. But land is “necessary but not sufficient”, according to the department. Developers still face:

• Lengthy legal and investment procedures
• Planning that does not always align with housing needs
• Difficulty raising capital, with profit capped at 10% of total investment for social housing for sale
• Unstable long-term preferential loans
• Weak interest in rental housing because of high upfront capital and long payback periods

How the city plans to respond

• Cut administrative processing time for social housing projects by 50%
• Use more public land and public capital for rental housing
• Assign the Housing Development Fund about 25,000 units, the Labour Federation about 10,000 rental units, and industrial zone authorities about 10,000 worker homes
• Study interest-rate support and further incentives

Nationally, the government reported about 46,962 social housing units completed in the first nine months of 2026, around 48% of the annual target. The amended Housing Law under discussion at the National Assembly session that opened on 17 October would give rental housing even more priority.

What it means for the wider market

More social and rental housing will not change the high-end market overnight, but it matters. It gives first-time buyers and young families a realistic path to ownership, eases pressure on the low end of the rental market and may, over time, temper price expectations for older, mid-market apartments. For buyers who do not qualify for social housing, more affordable commercial options are increasingly found in the northern and north-western belts – for example in the former Binh Duong area, where projects such as SkySOLIS and Norton Park are priced well below the city centre.

Frequently asked questions

Sources

• Ashui / Tạp chí Xây dựng – HCMC expects ~9,000 social housing units in 2026 (12 Oct 2026)
• DTiNews – HCM City publishes prices for five social housing projects (7 Oct 2026)
• BigGo Finance – national social housing figures (13 Oct 2026)

The 2nd session of Vietnam’s 16th National Assembly opened on 17 October 2026, and housing is near the top of the agenda. Over 28 working days – from 17 October to 14 November, then 20–21 November – lawmakers will consider 47 bills and resolutions, including revisions to the Housing Law, the Land Law and the Real Estate Business Law. Together, they could reshape how homes are classified, how idle land is handled and how projects are sold.

Session timeline

1. Housing Law (amended): rental housing comes first

The biggest conceptual change is in the Housing Law. According to the draft summarised by VnExpress, housing would be divided into four categories: commercial, rental, official-duty and policy housing. Rental housing would be given priority, shifting policy from a focus on home ownership towards long-term renting.

The government also plans to study buying commercial homes to rent out at affordable prices, and to remove obstacles around land, procedures and funding for social housing. This fits with the Ministry of Construction’s work on land, tax and credit incentives for rental housing, which it aimed to submit for this session.

2. Land Law (amended): pressure on idle land

The draft Land Law targets developers who sit on land. Projects that leave land unused or fall behind schedule would pay fees that increase every year, and land still unused after 60 months could be reclaimed by the state (force majeure excluded). The bill also expands compensation and resettlement options: people partly affected by land acquisition could be resettled on their remaining land, and in urban or rural development projects, compensation could be paid in land or housing within the same project.

3. Real Estate Business Law (amended): simpler, more transparent

The revised Real Estate Business Law aims to simplify procedures, cut business licensing conditions and delegate more authority to local governments. It would also require more public disclosure about projects and properties offered for sale – an important point for buyers trying to check whether a project is legally ready to sell.

What about a tax on second homes?

A property tax on second homes has been widely discussed this year, but the session agenda as reported does not include a tax law on this topic. Any change to property taxation would come through a separate process, so buyers should not assume new taxes are imminent based on this session alone.

What it could mean for buyers, landlords and developers

• Renters: more priority and incentives for rental housing could, over time, increase the supply of affordable long-term rentals in big cities.
• Buyers: stronger disclosure rules should make it easier to verify a project’s legal status before paying a deposit.
• Land owners and developers: escalating fees and a 60-month reclaim deadline raise the cost of land banking and should push stalled projects to move or change hands.
• People affected by land acquisition: on-site resettlement and compensation in land or housing within the same project could reduce displacement.

Why this matters for Ho Chi Minh City

Ho Chi Minh City has a large pipeline of stalled projects, a target of more than 181,000 social and rental housing units for 2026–2030, and a supply mix dominated by high-end apartments. Rules that prioritise rental housing, penalise idle land and improve disclosure speak directly to those issues. Large plans such as the Binh Quoi – Thanh Da urban area also depend on compensation and resettlement frameworks like those in the Land Law.

What to watch next

• The final text of the Housing Law and how “rental housing” incentives are defined
• Whether the 60-month reclaim rule and fee schedule survive in the final Land Law
• The disclosure requirements in the Real Estate Business Law and when they take effect
• Implementing decrees, which usually determine how the laws work in practice

We will update our Market News section as the laws are voted on in November.

Frequently asked questions

Sources

• VnExpress – Major policies awaiting National Assembly decision (19 Oct 2026)
• Báo Xây dựng – session schedule (16 Oct 2026)
• Ashui / Tạp chí Xây dựng – HCMC social housing targets

Vietnam’s unsold housing inventory is rising again. At a meeting of the Central Steering Committee on Housing Policy and the Real Estate Market on 13 October 2026, chaired by Permanent Deputy Prime Minister Pham Gia Tuc, the Ministry of Construction reported about 51,950 unsold homes and land plots at the end of Q3 2026 – up from the previous quarter. Transactions fell 8% quarter-on-quarter to about 92,000, and secondary prices for apartments and land edged slightly lower, although they remain far above what most households earn.

Key figures from the 13 October meeting

Inventory: why it matters

The 51,950 figure only counts inventory reported by developers in 27 of the country’s 34 provinces and cities, so the real total is higher. It also does not capture the huge amount of capital stuck in unfinished projects. Earlier this year, the Ministry of Construction said about 4,500 projects nationwide were facing legal bottlenecks, with more than VND 3.3 quadrillion (about US$127 billion) tied up; over 1,000 had been unblocked by mid-2026.

Rising inventory alongside falling transactions points to the same problem seen in Ho Chi Minh City’s own data: new supply is improving as legal issues are resolved, but it is concentrated in segments that most buyers cannot afford.

Liquidity concentrated in “clean” projects

Officials noted that liquidity remains low and is concentrated in projects with complete legal documents and good locations. That pattern is consistent with Savills’ Q3 data for Ho Chi Minh City, where only about 25% of primary apartment supply was absorbed. For buyers, the message is clear: legal clarity is no longer a “nice to have” – it is what the market is paying for.

Prices: slight easing, still high

Secondary-market prices for apartments and land eased slightly compared with Q2 2026, according to the meeting report, but remain high in major urban centres. New-launch prices in big cities have kept rising because most new supply is mid-high end or luxury. The result is a widening gap between older and newer homes, and growing pressure on secondary sellers who bought at the peak.

Credit: a quarter of the economy’s lending

Real estate credit reached about VND 5.23 quadrillion (around US$206 billion) at the end of August – more than a quarter of all credit in the economy. Together with rising mortgage costs, that explains why policymakers are cautious about loosening further and why banks are focusing on projects with strong legal files. In October, many banks are offering preferential mortgage rates of roughly 8–11% for the first one to five years, but floating rates afterwards are much higher.

Social and rental housing: halfway to target

About 46,962 social housing units were completed in the first nine months, roughly 48% of the 2026 target of more than 97,000. Rental housing reached 8,314 units, also around 48% of plan. The government is pushing both segments hard, and the National Assembly session that opened on 17 October is expected to consider a revised Housing Law that gives rental housing much greater priority.

What this means for the market

• For home buyers: rising inventory and falling transactions strengthen your negotiating position, especially in projects that are slow to sell. Focus on legal status and total financing cost.
• For investors: the days of buying anything and waiting for prices to rise are over. Returns will depend on location, legal clarity and buying at a sensible price.
• For developers: pricing to real demand – and launching products in the price range most households can afford – is what is selling.

How Ho Chi Minh City fits in

Ho Chi Minh City reflects the national trend. New launches are concentrated in the east (Thu Duc, Thu Thiem) and the northern belt of former Binh Duong, with prices that have risen faster than incomes. Projects with strong developers and clear legal files – such as Gladia Heights and Eaton Park – have sold well, while others are moving slowly. You can browse current projects in our projects directory.

Frequently asked questions

Sources

• BigGo Finance – report on the Central Steering Committee meeting (13 Oct 2026)
• VietNamNet – Vietnam seeks to free $127 billion trapped in real estate projects
• Thương Gia – mortgage rates, October 2026

Ho Chi Minh City’s apartment market is still struggling to turn new supply into sales. According to Savills’ Q3 2026 data, reported on 17 October, about 1,900 new apartments were launched in the quarter, but only around 1,400 units changed hands, giving an absorption rate of just 25% on primary stock of about 5,800 units. Grade A and B projects made up roughly 80% of new supply. Meanwhile, Savills expects about 6,000 apartments to launch in Q4 – almost 30% fewer than previously forecast, as some developers postpone their plans.

The numbers at a glance

Why absorption is so low

The core problem is affordability. New supply is concentrated in the mid-high and luxury segments, where prices have risen far faster than incomes. At the same time, borrowing has become more expensive: State Bank of Vietnam data put average lending rates at 8.4–10.7% a year in August 2026, and once preferential periods end, many mortgages float to the mid-teens. Buyers who need a loan are therefore taking their time, while investors are more selective than in previous cycles.

Savills’ figures confirm that the market is not short of homes on paper – it is short of homes that match what most households can pay. Projects with competitive pricing, a clear legal file and a good location are still selling; the rest are waiting.

Landed homes move to the suburbs

The landed segment tells a similar story. About 3,600 villas and townhouses were launched in Q3, more than half priced below VND 10 billion per unit, but absorption was only 14%. New low-rise supply is shifting to outer suburbs, mainly later phases of large urban areas in the north and south of the metropolitan region – a trend visible in projects such as Vinhomes Saigon Park in the north-west and Vinhomes Green Paradise in Can Gio.

The rest of the market is steadier

Outside housing, Savills paints a more stable picture:

• Offices: nearly 3 million m² of supply, occupancy close to 90%, average rent stable at about VND 870,000/m²/month – although net absorption turned negative in Q3 for the first time in five quarters as some tenants reduced space.
• Retail: about 1.6 million m² of net lettable area, 92% occupancy and a slight rise in ground-floor rents to around VND 1.6 million/m²/month, led by food and beverage.
• Hotels: nearly 17,000 rooms, 70% occupancy in the low season and an average daily rate of about VND 2.4 million.
• Serviced apartments: 85% occupancy across more than 7,000 units, with average rents near VND 600,000/m²/month; some Grade A and B operators have raised prices or cut promotions.

Savills also noted that newly registered FDI in Ho Chi Minh City (pre-merger boundaries) reached about US$9 billion in the first nine months of 2026, which should support demand for serviced apartments and premium rentals over the medium term.

What it means for buyers

• More room to negotiate. With absorption at 25%, developers are using discounts, payment schedules and interest support to attract buyers. Compare total cost, not just headline price.
• Choose legal clarity. Sales are concentrated in projects with complete legal documents. Ask for the eligibility to sell future homes and a bank guarantee.
• Stress-test your loan. Plan for the rate after the preferential period, not the teaser rate.
• Look at completed projects. The secondary market in established projects – for example Masteri Thao Dien or Vinhomes Central Park – lets you see exactly what you are buying.

What it means for landlords and investors

Steady serviced-apartment occupancy and rising FDI are positives for well-located rental units, especially near business districts. But with high financing costs, rental yields rarely cover mortgage payments, so leveraged investment needs a long horizon and a buffer. Investors buying off-plan should also weigh the large pipeline of new supply due in the east and north of the city over the next two to three years.

Outlook for Q4 2026

The cut in Q4 launch expectations shows developers are cautious and are timing releases more carefully. The market is likely to stay two-speed: well-priced projects with strong legal files and infrastructure links will keep selling, while expensive launches in less proven locations will move slowly. Watch the outcome of the National Assembly session that opened on 17 October – revisions to the Housing Law, the Land Law and the Real Estate Business Law could affect supply and procedures in 2027.

Frequently asked questions

Sources

• Việt Báo / Diễn đàn Doanh nghiệp – Savills HCMC Q3 2026 data (17 Oct 2026)
• Thương Gia – lending rates, October 2026