Southeast Asia and Australia Property Rules — 2026-09-18
Vietnam's Ho Chi Minh City authorities and industry body HoREA are pushing for urgent amendments to the Land Law to unlock stalled projects and reduce housing costs, while Thailand intensifies its crackdown on foreign "nominee" property ownership. In Singapore, new income ceilings for HDB purchases have been confirmed, and Australia's foreign buyer ban remains firmly in place through 2029 amidst continued price corrections in Sydney and Melbourne.
Southeast Asia and Australia Property Rules — 2026-09-18
Top developments
Vietnam: HoREA and HCMC Propose Land Law Amendments to Lower Housing Costs
On September 16, the Ho Chi Minh City People's Committee submitted a proposal to the Deputy Prime Minister to amend the 2024 Land Law's land valuation regulations, aiming to unblock nearly 100 stalled projects. Concurrently, the Ho Chi Minh City Real Estate Association (HoREA) sent a formal letter to the Government and Ministry of Natural Resources and Environment on September 16, advocating for changes that would reduce real estate production costs. These moves are critical for stabilizing supply in Vietnam's largest city, where high land costs have driven primary prices up despite low transaction volumes.
Thailand: Foreign Condo Transfers Drop 8.8% Amid Nominee Scrutiny
The Real Estate Information Center (REIC) reported on September 13 that foreign condo transfers in the first half of 2026 fell by 8.8% year-on-year to 6,533 units, valued at 28.27 billion baht. While Chinese buyers remain the top purchasers, the decline coincides with a multi-agency crackdown on "nominee" structures used by foreigners to bypass land ownership laws. The Department of Business Development announced on September 15 that it is investigating nominee companies in 16 provinces, signaling stricter enforcement of the 49% foreign condo quota and land ownership restrictions.
Singapore: New HDB Income Ceilings Confirmed at $16k/$18k
Buy Condo Singapore reported on September 16 that the Housing & Development Board (HDB) has confirmed new income ceilings for certain housing schemes, setting limits at $16,000 and $18,000 depending on the specific eligibility category. This policy adjustment impacts the accessibility of public housing for higher-income households and may influence the demand shift toward private condominiums, where price growth has remained steady despite HDB resale price corrections.
Vietnam: "Ghost Month" Slump Deepens in Ho Chi Minh City
Transaction volumes in Vietnam's property market dropped significantly in August, traditionally the "Ghost Month" (Tháng Ngâu), with national demand for home purchases falling by 11%. In Ho Chi Minh City, liquidity remains low as buyers wait for price adjustments; however, primary market prices continue to hold firm or rise, creating a disconnect between asking prices and actual sales. This stagnation highlights the urgency of the regulatory reforms proposed by HoREA to stimulate market activity.
Local view
In Vietnam, Báo Pháp Luật TP.HCM (HCMC Law Newspaper) highlights the consensus among developers that current land valuation methods under the 2024 Land Law are inflating costs and blocking project approvals, directly contributing to the shortage of affordable housing. Meanwhile, Thansettakij in Thailand notes that while foreign interest in Bangkok condos remains strong from Chinese investors, the overall market is cooling due to tighter scrutiny on ownership structures and economic caution.
Context & numbers
- Vietnam: National demand for residential property fell 11% in August 2026 compared to July.
- Thailand: Foreign condo transfers in H1 2026 totaled 6,533 units, down 8.8% YoY; total value was 28.27 billion baht.
- Singapore: Private residential prices rose 0.5% in Q2 2026, slowing from the 0.9% increase in Q1 2026.
- Australia: Home values in Sydney and Melbourne declined in August 2026, with Sydney falling 1.2% and Melbourne 1.0% month-on-month, reflecting a broader national correction.
On the radar
- Vietnam Housing Law Draft: Discussions continue on whether to impose a 5-year resale ban on buyers of "affordable commercial housing," a measure proposed in the July 2026 draft but contested by HoREA.
- Thailand Nominee Investigations: The Department of Business Development is actively investigating nominee cases in 16 provinces, with results expected to impact future foreign investment flows into Thai real estate.
- Singapore MOP Supply: Over 13,400 HDB flats are expected to reach their Minimum Occupation Period (MOP) in 2026, potentially moderating resale price growth in the second half of the year.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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