1. The Lam Dong Construction Department has announced it has begun taking applications for buying social housing products belonging to a project on providing housing to workers of the Phu Hoi Industrial Zone in DucTrong district.

Thirty apartments under the project in the first phase and the average selling price is VND9.5 million per sq m.

The project comprises three 5-storey buildings, providing 303 social housing apartments. Of these, 241 apartments will be for sale and 62 for lease. An Binh Housing Investment JSC is the investor. 

2. The representative of Phuc Khang Corporation, the developer of Rome Diamond Lotus project, said the developer has given back money to the two foreigners who bought the apartments of the project.

Rome Diamond Lotus is located at No 50 Mai Chi Tho street in An Phu ward of Thu Duc City in HCM City. The products of the project were opened for sale in late 2018, but the project has not been implemented and the site was still deserted land.

After paying deposits to buy the products, two foreigners paid VND4 billion in total for the apartments, but Phuc Khang Corporation did not sign contracts with the buyers and has not delivered the products as committed. After a lot of meetings, the two clients have received their money from Phuc Khang.

3. The apartment market in HCM City and neighboring areas has become bustling again as some developers have launched new products.

In the eastern part, real estate trading floors are looking forward for information from the investor of a project with 2,000 apartments on Mai Chi Tho Street in Thu Duc City. The investor has begun taking reservations for the first sale campaign, slated for April 2024.

Sources said the average selling price of the apartments is VND120 million per sq m. The developer allows buyers to make payment of 65 percent of the product value until delivery.

Also on Mai Chi Tho street, a project with 2,300 apartments developed by a Singaporean investor will also be for sale this year. 

The apartment project most awaited this year in Thu Duc City is The Global City, with 8,000 apartments with the selling price of VND120 million per sq m.

4.  A market analysis firm has announced the results of its survey, showing that the number of transactions of low-rise buildings in HCM City and the sold products were priced from VND30 billion per apartment.

This is the lowest level in the last five years. The total primary supply was 1,000 products and the absorption rate was just 30 percent.

According to the HCM City Construction Department, in 2023, only 1,253 low-rise houses belonging to projects were recognized as meeting requirements for developers to be eligible for selling houses in the future. 

5. The HCM City Construction Department has released a document on the statistics about social housing products completed in 2021-2025, confirming that social housing products have been delivered though the lists of buyers have not been approved.

Prior to that, in early December 2023, VietNamNet discovered that the statistics about social housing products in HCM City were inaccurate. The report mentioned the report by the HCM City People’s Council about the result of the supervision of the implementation of social housing projects in HCM City in 2016-2025.

The HCM City People’s Council found that some social housing developers had not submitted the lists of buyers, but had already put the projects into use.

Hong Khanh