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NAC Weekly No. 04: Vietnam Cuts RON95 Petrol by VND 5,625 a Litre
Vietnam zeroes its fuel taxes and RON95 falls VND 5,625 a litre, London prices slip 1.7% and Greek golden visa interest drops 83%. Four stories from the week.
From the night of 26 March Vietnam set its environmental tax on petrol and diesel to zero, and RON95 fell VND 5,625 a litre the same day. In Europe, London house prices are down 1.7% on a year, and one property consultancy says non-EU interest in the Greek golden visa has dropped 83%. In the US, the 30-year mortgage rate climbed to 6.38% in a week.
Market pulse, week of 23–29/3/2026
Source: Vietnam's Ministries of Industry and Trade, and Finance via Đại biểu Nhân dân (27 Mar); State Bank of Vietnam via Thị trường Tài chính Tiền tệ (27 Mar); Fed; Freddie Mac (26 Mar); ONS (25 Mar); Elxis (23 Mar)
Signals this week
Source: NAC, compiled from the sources in this issue
🇻🇳 Vietnam · Fuel taxes go to zero and RON95 falls VND 5,625 a litre
▼−5,625 đRON95-III petrol per litre from 26 March, down to VND 24,332; diesel fell VND 2,459Ministries of Industry and Trade, and Finance, via Đại biểu Nhân dân 27 MarPhoto: Diego Delso, Wikimedia Commons, CC BY-SA 3.0
On 26 March Prime Minister Phạm Minh Chính signed Decision 482/QĐ-TTg, cutting the environmental protection tax on petrol, diesel and jet fuel to zero and the special consumption tax on petrol to 0%, Đại biểu Nhân dân reported on 27 March. The rates run to the end of 15 April and cost the budget about VND 7,200 billion a month. The same day RON95-III fell VND 5,625 to VND 24,332 a litre.
For Vietnamese investors: this is a stopgap of under three weeks, not a sign that fuel prices have cooled. As long as oil stays high on the Middle East war, domestic inflation and rates stay under pressure. Families holding most of their wealth in dong should wait for the Q1 consumer price data, due in early April, before locking in long-term deposits.
🇬🇧 United Kingdom · London house prices down 1.7% on a year
▼−1.7%London house prices in January 2026 versus a year earlier; the UK as a whole is still up 1.3%ONS, 25 MarPhoto: Ryan Hodnett, Wikimedia Commons, CC BY-SA 4.0
The Office for National Statistics reported on 25 March that the average UK house price was £268,000 in January, up 1.3% on a year and slowing from 1.9% in December. London was the weakest region, down 1.7%. Rents kept climbing: London's rose 1.7% to an average of £2,273 a month. The same day the ONS said February inflation held at 3.0%, with prices collected before the war began on 28 February.
For Vietnamese investors: London purchase prices are softening while rents rise, which gives buy-to-let buyers more room to negotiate. Per NAC's listing data, Fulham Reach Palmer House in west London starts at £576,000 with an estimated 5.2% gross yield, and London Dock in Wapping starts at £790,000, due between Q2 and Q4 2027.
🇬🇷 Greece · Non-EU interest in the golden visa down 83%
▼−83%golden visa demand from non-EU buyers versus a year earlier, per one property consultancy's dataElxis, 23 MarPhoto: Efdamt, Wikimedia Commons, CC BY-SA 4.0
On 23 March the property consultancy Elxis said that non-EU demand for the Greek golden visa had fallen 83% on a year, based on its offices in Thessaloniki, Crete and the Netherlands. It blames the ban on short-term letting of golden visa homes and the €800,000 threshold in Attica, central Thessaloniki and large islands with more than 3,100 residents.
For Vietnamese investors: these are one firm's figures, not official statistics, but they show the Greek golden visa now suits families who want residence rather than holiday-let income. Outside those areas the threshold is about €400,000. Per NAC's listing data, Levante Villas in Galaxidi starts at €646,000 and is due to complete in 2026. The qualifying routes are in NAC's Greece golden visa programme guide.
🇺🇸 United States · 30-year mortgage rate rises to 6.38%
▲6.38%average 30-year fixed rate in the week to 26 March, from 6.22% a week earlier; 6.65% a year agoFreddie Mac, 26 MarPhoto: Tony Webster, Wikimedia Commons, CC BY 2.0
Freddie Mac's weekly survey, released on 26 March, put the average US 30-year fixed rate at 6.38%, up from 6.22% a week earlier but below 6.65% a year ago. The 15-year rate rose to 5.75%. Chief economist Sam Khater said the housing market continues to show gradual improvement on a year ago amid rate volatility. A week earlier, on 18 March, the Fed held its target range at 3.5–3.75%.
For Vietnamese investors: while oil stays high, long-term dollar rates are unlikely to fall, even with the Fed on hold. Mortgages in dollar-linked markets such as Dubai and Panama are therefore unlikely to get cheaper in the next few months. Buyers using their own equity are less exposed than borrowers.
Next week
Source: Release calendars of the US Bureau of Labor Statistics, TurkStat and Vietnam's Statistics Office
NAC strategic insight
This week energy prices drove both Vietnam's tax policy and dollar interest rates. We favour assets in markets where prices are pausing, such as London, bought with equity, and a residence programme chosen for what the family actually needs: the right to live somewhere, or rental income. If you'd like to see where your family's portfolio stands after this week, book a consultation with NAC.
Related on NAC
Fulham Reach Palmer House · London Dock Jade Wharf · Levante Villas Galaxidi · The One Glyfada · The NAC Residence Index
Sources
- Đại biểu Nhân dân — Fuel environmental protection tax officially cut to zero (27 Mar 2026, Vietnamese)
- Thị trường Tài chính Tiền tệ — Central rate down 2 dong on 27 March (27 Mar 2026, Vietnamese)
- ONS — Private rent and house prices, UK: March 2026 (25 Mar 2026)
- ONS — Consumer price inflation, UK: February 2026 (25 Mar 2026)
- Elxis — Decline in Golden Visa demand, rise in buyers from Western Europe (23 Mar 2026)
- Freddie Mac — Mortgage Rates Average 6.38%, as republished by Compliance Alliance (26 Mar 2026)
- Federal Reserve — FOMC meeting calendar 2026 (17–18 Mar 2026 meeting)
