That is the assessment of Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, on the appearance of the Vietnamese real estate market in 2025. The developments of the Vietnamese real estate market in 2024 are the basis for this assessment.
Vietnam Real Estate Market 2024 Creates Momentum for 2025
The Chairman of the Vietnam Real Estate Brokers Association emphasized that 2024 is a pivotal year, creating a foundation to create momentum for the Vietnamese real estate market in 2025 to enter a new era. The real estate market in 2024 has passed the most difficult period with many positive recovery results and is still closely following the recovery process with much room for future growth thanks to the driving force from supporting factors such as macroeconomics, management policies and market demand. Actual developments in 2024 show that in the second quarter, the recovery momentum of the real estate market continued to be maintained, with supply and transaction volume in the quarter growing strongly, respectively 3 and nearly 4 times higher than the same period in 2023.
According to Mr. Dinh, in the third quarter of 2024, the information that the 2024 Land Law, the 2023 Housing Law, the 2023 Real Estate Business Law and Clause 2, Article 209 of the Law on Credit Institutions will take effect 5 months early will further boost confidence for real estate operators to be “ready to re-enter the game”. The legal regulations on housing, land and business that have been officially “pressed” to take effect have eliminated the “before G hour” mentality of the entire market. The market has also begun to show signs of “heating up” with the story of land auctions in suburban areas of Hanoi “hotter” than ever. The heat of the market is also led by the apartment segment, with prices continuously increasing, establishing a new level in both the primary and secondary markets.
In the fourth quarter of 2024, the market welcomed a large number of real estate brokers and real estate trading floors returning to the market when investors began to activate the implementation of a series of projects with increasingly large scales. Some projects with good progress have officially received deposits. Newly opened projects, from land products, townhouses, villas, apartments, etc., all recorded good levels of interest, transactions and sales prices in both the primary and secondary markets. In the face of the “warming up” of the market, many real estate investors changed their plans, “launched” products earlier than expected with many preferential policies, helping Housing supply “exceeded” forecasts.
Real Estate Market 2025: Positive Movement
The developments of the real estate market in 2024 have been laying the foundation for the real estate market in 2025 to move positively. Liquidity in the real estate market in 2025 is expected to remain stable in housing products that meet real housing needs, with reasonable value, with components including technical infrastructure, social infrastructure, trees, lakes, entertainment areas, commerce, management, security, etc.
Mr. Tran Van Binh, Vice Chairman and General Secretary of the Vietnam Real Estate Brokers Association, said that in order for the Vietnamese real estate market in 2025 to develop in a safe, healthy and sustainable direction, investors need to ensure prices are suitable for the purchasing power of the market, instead of focusing on short-term profits. Mr. Binh emphasized that the residential real estate segment will still lead the recovery process in 2025, but there are still many negative factors such as weak and local supply, selling prices in big cities, especially Hanoi, continuously setting new high levels; severe shortage of affordable housing… The supply of social housing cannot “breakthrough” in the short term, but positive information about this segment has somewhat added confidence to home buyers in 2025.
According to the Vice President and General Secretary of the Vietnam Real Estate Brokers Association, the commercial real estate market will maintain stable growth in 2025 with important support from the demand for foreign investment capital, which is constantly increasing in a selective direction. Although there have been some positive results, the tourism and resort real estate market is still developing relatively slowly and facing legal challenges and investor confidence this year. Industrial real estate is still considered a promising star of the market in 2025.
