In recent years, the real estate mergers and acquisitions (M&A) market in Vietnam has witnessed strong growth, especially in 2024 with a total transaction value of more than 1.8 billion USD. Foreign enterprises have actively participated in M&A deals, focusing on segments such as industrial and residential real estate. This article analyzes the current situation of the Vietnamese real estate M&A market and assesses the potential for Japanese enterprises to invest and expand operations in this market