In 2025, the world economy experienced rapid changes, intensifying strategic and trade competition, while global capital flows and supply chains continued to shift. In that context, Vietnam remained a stable destination thanks to its sound macroeconomic performance, with GDP growth reaching 8.02% and inflation kept under control. Public investment was accelerated to a record scale, credit grew by around 19%, and realized FDI reached its highest level in five years. As a result, the real estate market gradually recovered, with a number of bright spots emerging after a period of stagnation[1].

Overview of Vietnam’s real estate market in 2025: Key achievements

Vietnam’s real estate market recovered more clearly in 2025, with improvements in both activity and project quality. New developments increasingly incorporate better infrastructure, modern design, and greener solutions, reflecting a more sustainable growth direction.

The clearest improvement was in the residential segment. More than 128,000 new housing units were launched in 2025, up 88% year on year and the highest level in 2019–2025. The absorption rate reached around 68%, equivalent to nearly 88,000 successful transactions[2]. Social housing also made progress, with 102,633 units completed, or about 102% of the annual plan, while projects under implementation reached roughly 62% of the 1-million-unit target[3].

Other segments also recorded positive signals. Tourism and resort real estate saw supply increase fourfold from 2024, with an absorption rate of around 55%, although demand remained concentrated in large, reputable projects. Industrial real estate continued to expand, with 478 industrial parks established and 324 already in operation. Retail real estate added more than 418 thousand m² of new supply, while office real estate added more than 200 thousand m², with demand increasingly favoring modern and green-certified buildings[4].

Key challenges: affordability pressure, market polarization, and lingering inventory

Despite the recovery, the market still showed major imbalances in 2025. The biggest issue was affordability. Around 25% of newly launched apartments were priced above VND 100 million/m², and in Hanoi and Ho Chi Minh City, around 85% of new supply was above VND 80 million/m². This means supply increased, but much of it remained concentrated in the high-end segment, making it difficult for genuine homebuyers to access[5].

Recovery was also uneven across segments. In tourism and resort real estate, not all projects benefited equally, as assets without clear positioning or strong operations may struggle to convert tourism recovery into real performance. In office, retail, and industrial real estate, demand is increasingly concentrated in prime, well-managed projects, while weaker assets face greater pressure[6].

Another sign of incomplete recovery was rising inventory. In Q4/2025, total inventory reached around 32,894 units and plots, up from Q3 across all categories. This suggests that liquidity improved, but not enough to support a broad-based market rebound[7].

Some key real estate projects by segment in 2025

To better illustrate the market’s recovery and expansion in 2025, the table below summarizes several notable real estate projects across key segments, from residential and tourism-resort to commercial and industrial.

B&Company’s synthesis

These notable projects in 2025 were spread across many segments, showing that the market’s growth momentum was not concentrated solely in housing but also extended to commercial, resort, and industrial real estate. While the residential and commercial projects reflected the expansion of mega-urban developments, shopping malls, and integrated living spaces in new growth poles, the tourism-resort and industrial projects showed that the market is becoming more closely linked to Vietnam’s natural landscape advantages, rising demand for high-quality experiences, and long-term manufacturing capital flows. This also suggests that 2025 was not only a period of recovery in transaction activity, but also a year in which many developers accelerated the launch, opening, and operation of projects with clearer scale and positioning.

Vincom Mega Mall Ocean City on its opening day

Source: Tuoitre.vn

Outlook for 2026

Early 2026 data suggest that Vietnam’s real estate market is recovering, but not yet in a broad-based way. From the start of the year to early Q2/2026, only 3 projects with 544 units were completed, while 28 new projects with a total of 20,964 units were launched, indicating that supply is returning but has not yet accelerated strongly[8]. At the same time, prices have started to cool in some segments, while demand linked to genuine housing needs remains present.

Against this backdrop, the 2026 market is likely to recover selectively rather than enter a broad-based boom. Capital flows are becoming tighter, with the credit growth target reduced to around 15%, down from 19% in 2025[9], meaning funding will flow more cautiously into real estate. Market transparency is also expected to improve, as electronic identification for real estate took effect from 1 March 2026, supporting better data management and stricter supervision[10].

As a result, recovery is likely to favor projects with clear legal status, real end-user demand, and more reasonable pricing, rather than speculative or weakly positioned assets. For developers and investors, the implication is clear: in 2026, priority should be given to legally sound projects and suburban real estate areas supported by major infrastructure development.

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[1] https://tapchikinhtetaichinh.vn/bat-dong-san-viet-nam-truoc-nguong-cua-chu-ky-moi-140374.html

[2] https://vars.com.vn/tin-tuc/thong-cao-bao-chi-phien-buoi-sang-vref-2026-dinh-hinh-chuan-muc-de-thi-truong-bds-phat-trien-ben-vung-n2363

[3] https://tapchixaydung.vn/bo-xay-dung-vuot-chi-tieu-noxh-go-kho-hang-tram-du-an-bat-dong-san-trong-nam-2025-20201224000035437.html

[4] https://vars.com.vn/tin-tuc/thong-cao-bao-chi-phien-buoi-sang-vref-2026-dinh-hinh-chuan-muc-de-thi-truong-bds-phat-trien-ben-vung-n2363

[5] https://vars.com.vn/tin-tuc/thong-cao-bao-chi-phien-buoi-sang-vref-2026-dinh-hinh-chuan-muc-de-thi-truong-bds-phat-trien-ben-vung-n2363

[6] https://en.nhandan.vn/viet-nams-resort-market-enters-a-phase-of-upgrading-in-2026-post157048.html

[7] https://vov.vn/kinh-te/bat-dong-san/ton-kho-bat-dong-san-tang-tro-lai-trong-quy-iv2025-post1262009.vov

[8] https://moc.gov.vn/vn/tin-tuc/1323/93079/tap-trung-lanh-dao-chi-dao-thuc-hien-thang-loi-nhiem-vu-trong-quy-ii-va-ca-nam-2026.aspx

[9] https://www.reuters.com/world/asia-pacific/vietnam-central-bank-cuts-credit-growth-target-15-after-warnings-asset-bubbles-2026-01-12/

[10] https://www.reuters.com/world/asia-pacific/vietnam-central-bank-cuts-credit-growth-target-15-after-warnings-asset-bubbles-2026-01-12/