Real estate stocks record positive recovery signals
The market is recording many positive signals in real estate stocks, in the context of a series of large projects having their legal problems resolved and credit policies gradually unblocked. Analysts expect that businesses with large land funds, good implementation capacity and healthy financial situation will play a leading role in the new movement cycle of the market from the second half of 2025.
According to Mr. Dao Hong Duong - Director of Industry and Stock Analysis, VPBank Securities Joint Stock Company (VPBankS), the market has begun to witness the recovery process of real estate stocks, no longer stopping at expectations as before.
Among the outstanding enterprises, Novaland (NVL) is showing positive signals thanks to large-scale projects such as Aqua City and Aqua Waterfront. Information on removing difficulties for real estate businesses has brought positive impacts, not only for NVL. In the recent past, NVL shares have had remarkable growth thanks to the expectations of the above projects" - Mr. Duong assessed.
Not only NVL, the market also witnessed a recovery in many other enterprises such as Nam Long (for Izumi City project), K Human (The Foresta, The Privia), DXG (Gem Riverside), HDG, AGG... In Hanoi, KBC with Trang Cat project has completed the 1/500 planning, expected to open for sale in the second or third quarter of this year.
Mr. Duong emphasized: "When legal issues are resolved, projects in good locations will have two important advantages: capable of capital mobilization andable of sales". However, Mr. Duong noted that the market will continue to have a clear differentiation depending on financial capacity and the characteristics of each project. I believe that in 2025, real estate, both housing and industry will be one of the industries with vibrant transactions. However, not all businesses benefit equally, he concluded.
In fact, the school also recorded a strong flow of money into large real estate stocks, especially Vingroup stocks such as VIC, VHM and VRE. In the first half of 2025, these codes have had an impressive recovery.
legality is resolved, cash flow is gradually unblocked
Sharing the same view, an analyst from SHS Securities commented that the residential real estate stock group is being evaluated at a positive recommendation level, thanks to factors supporting both the macro and the industry. In particular, the legal corridor being removed is creating conditions for businesses to speed up the implementation progress, while minimizing inventory risks and recording revenue in the short term.
The 2024-2025 period will witness major policies such as the 2024 Land Law, the amended Law on Real Estate Business, Decree 71/2024/ND-CP, Resolution 161 and 171/2024/QH15 being issued and implemented. These documents help solve bottlenecks in site clearance, land pricing costs, investor conditions, and at the same time handle a series of transition projects that are facing difficulties.
Many major projects have therefore been cleared of obstacles, including Vingroup's Dan Phuong and Giang Vo projects; Aqua City, Lakeview of Novaland; BT Thu Thiem of CII and Thaco; Izumi City of Nam Long Group...
Big deals appear, businesses reopen sales
In addition to legal factors, the trend of foreign investment capital flows into real estate continues to grow strongly.
According to SHS, typical deals include: Gamuda increasing capital for the Yen So project (Hanoi) by 1.12 billion USD; CapitaLand cooperating with Vinhomes at Ocean Park 3 (Hung Yen) by 800 million USD; Trump Organization cooperating with KBC and IDG to develop an urban area and golf course project in Hung Yen worth 1.5 billion USD.
In the country, many new projects with a scale of hundreds to thousands of hectares have been approved for investment in a short time, instead of 2-3 years as before. Notable are Cam Lam Urban Area (10,356ha, 260,000 billion VND), Cam Ranh Urban Area (10,250ha, 85,000 billion VND), Phuoc Vinh Tay (10,089ha, 80,079 billion VND), Sun Blanca Vung Tau and the complex in Bac Ninh.
Along with that, listed companies such as VIC/VHM, NLG, DXG, HDG, TCH, K human, PDR, VPI... are expected to simultaneously reopen for sale many large-scale projects in 2025, thanks to legal problems that have been resolved.
SHS recommends actively supporting stocks with healthy financial situation, clean land fund and good implementation capacity such as: TCH, HDG, NLG, TAL.
With the resonance of a transparent legal corridor, active FDI capital flows and an open-end sales cycle, residential real estate stocks are gradually re-establishing their position in the investment portfolio. However, the ability to recover will depend largely on the quality of assets, implementation capacity and financial health of each enterprise.
