Análisis del mercado inmobiliario residencial de Vietnam: tendencias, pronóstico, tamaño e informe de crecimiento de la industria (2025-2030)

Vietnam Residential Real Estate Market Trends and Insights

Rising Urban Middle Class & Household Formation in Tier-1 and Tier-2 Cities

Vietnam’s Q1 2025 GDP expansion was the strongest first-quarter performance since 2020, directly lifting disposable incomes and urban household formation^{[ 1 ]Ministry of Planning and Investment, “Socio-Economic Situation Report Q1 2025,” mpi.gov.vn}. Young professionals in tier-2 cities such as Hai Phong are gaining purchasing power faster than their tier-1 peers because living costs remain lower, amplifying affordability. Developers have broadened project pipelines in these locations, confident that infrastructure investments will keep migration inflows steady. Construction activity registered a noticeable uptick in early 2025, mirroring the demand pipeline. The demographic dividend, therefore, delivers both immediate absorption and a durable buyer base, anchoring the Vietnam residential real estate market to long-term consumption fundamentals.

Surging FDI-Led Industrial Corridors Creating Housing Demand Near IZs

Foreign direct investment reached USD 2.4 billion in Q1 2025, a 46% year-over-year jump that is closely correlated with residential launches adjacent to industrial zones. Korean conglomerates are pioneering integrated industrial-residential ecosystems in northern provinces where expatriate engineers and local skilled workers prefer proximity housing. These clusters enjoy predictable take-up rates because factory start-ups trigger phased housing demand. As worker incomes rise, an upgrade cycle forms, stimulating mid-market and eventually high-end demand in the same micro-catchments. The industrial-housing nexus, therefore, embeds a self-reinforcing growth loop into the Vietnam residential real estate market.

Relaxed Foreign Ownership Caps in 2023 Housing Law Amendments

Sweeping November 2023 amendments equalized overseas Vietnamese housing rights with domestic citizens, effective January 2025. An estimated 5.5 million diaspora Vietnamese thus gained clear legal pathways to own property without proxy structures, shrinking transaction friction. Early 2025 secondary market data show a notable uptick in remittance-backed purchases in coastal provinces attractive for retirement or holiday use. The 2024 Land Law reinforced this momentum by granting similar land-use rights, reinforcing buyer confidence. The policy cascade injects fresh capital and enlarges the demand pool, especially for mid- and upper-tier units in established urban precincts.

Rapid Expansion of MRT and Ring-Road Projects Unlocking Peripheral Land Banks

Ho Chi Minh City’s USD 2 billion Metro Line 2, under construction since February 2024, is redrawing developer maps by turning peripheral districts into 30-minute commutes. Confirmed connectivity allows presales to launch at favorable price-to-income ratios compared with mature inner-city districts. Concurrently, the government’s Ring Road 4 blueprint provides an outer transport spine that will open greenfield parcels for large-scale townships^{[ 2 ]State Bank of Vietnam, “Remittance Inflows 2024–2025,” sbv.gov.vn}. By sequencing infrastructure and land clearance, authorities lower project risk and enhance absorption for developers, a structural advantage that fortifies long-run growth in the Vietnam residential real estate market.

Fragmented Land-Title System & Prolonged Red-Tape for Land-Use-Right Certificates

Developers frequently confront multi-step approvals to secure land-use-right certificates, delaying launches and adding holding costs. Novaland’s legal clearance for nearly 7,000 units in Ho Chi Minh City highlights the administrative burden on even well-resourced firms. Although the 2024 Land Law introduces annual land-price lists to replace five-year cycles, the learning curve may lengthen processing times in the near term. The drag on project timelines can mute supply response, elevating prices and curbing affordability in the Vietnam residential real estate market.

Periodic Credit Caps on Real-Estate Lending by SBV

The State Bank of Vietnam keeps real estate credit within prudential limits, flagging luxury projects for special scrutiny when leverage ratios spike. Outstanding property loans reached VND 3,480 trillion (USD 136.34 billion) in early 2025, prompting fresh supervisory guidance. While affordable housing enjoys quota exemptions, mid- and high-end projects can face sudden tightening, forcing developers to stagger launches. These policy swings add timing risk that periodically tempers the Vietnam residential real estate market.

Análisis de segmento

By Property Type: Urban Density Drives Apartment Dominance

Apartments and condominiums controlled 68% Vietnam residential real estate market share in 2024, primarily because high-rise formats optimize scarce urban land and match the lifestyle expectations of younger households. The Vietnam residential real estate market size for apartments is projected to stay dominant but expand at a slightly slower pace than landed products as demographic cohorts age. Villas and landed houses are on track for a 12.05% CAGR through 2030, underpinned by wealth accumulation and returning diaspora buyers seeking land ownership. 

Hanoi registered a 9% quarter-over-quarter increase in primary apartment supply during Q1 2024, whereas Ho Chi Minh City saw a 35% quarterly drop because of delayed approvals, signaling regional imbalances. Rising secondary prices stimulate upgrade moves into larger units or suburban villas, narrowing the price gap. For developers, the landed segment offers premium margins per square meter and allows phased construction that aligns with demand absorption, a strategic hedge against approval volatility in the vertical segment.

By Price Band: Affordable Segment Accelerates Despite Mid-Market Leadership

Mid-market properties captured 45% of the Vietnam residential real estate market size in 2024 as they deliver an optimal mix of price and amenity for a widening middle class. Even so, the affordable category is forecast to expand at 13.11% CAGR up to 2030 as government social-housing quotas and reduced-interest mortgages lift eligibility for buyers under 35 years. 

State Bank credit guidance steers capital toward affordable schemes, insulating the segment from macro-prudential tightening that weighs on luxury launches. Resolution 77, adopted in April 2025, further reduced clinker taxes to tame construction input costs, enabling developers to sustain unit prices without sacrificing margins. As the policy-driven supply ramp unfolds, developers equipped with standardized designs and modular construction methods will capture volume while meeting environmental and ESG targets.

By Mode of Sale: Secondary Market Gains Momentum

Primary launches held a 57% Vietnam residential real estate market share in 2024 on the back of abundant new supply, yet secondary transactions are racing ahead at a 13.51% CAGR to 2030, evidencing a maturing ecosystem. As the Vietnam residential real estate market size expands, improved information symmetry and digital valuation tools make resale activity more transparent, encouraging mobility among homeowners. 

Rapid price appreciation in core urban districts pushes some buyers toward older stock that offers larger floor plates at lower per-square-meter costs. Enhanced clarity around foreign ownership, together with five-day digital mortgage approvals, helps recycled inventory sell faster, providing liquidity that underpins future primary purchases. In the medium term, secondary turnover is set to become a stabilizing force that mitigates boom-bust cycles.

Nota: Las participaciones de todos los segmentos individuales están disponibles al momento de la compra del informe.

By Sales Model: Rental Segment Emerges as Growth Driver

Ownership remains culturally entrenched and accounted for 86% of 2024 revenue, but the rental category is predicted to deliver a 12.35% CAGR through 2030, thanks to rising urban flexibility needs. Grade A serviced apartments already command USD 42 per sq m monthly in Ho Chi Minh City’s CBD, and similar assets are spreading to Danang and Hai Phong. 

Institutional investors are piloting build-to-rent portfolios that promise steady cash flows uncorrelated with sales cycles. Government social-housing programs also incorporate rental quotas, recognizing that not all households can meet deposit thresholds. As professional management standards improve, tenants gain higher service quality and security of tenure, reinforcing the Vietnam residential real estate market’s move toward diversified tenure options.

Análisis geográfico

Ho Chi Minh City contributed 48% of 2024 transaction value, a testament to its status as the nation’s commercial powerhouse and first recipient of large-scale MRT investment^{[ 3 ]Ho Chi Minh City Department of Construction, “2024 Residential Real Estate Market Overview,” hochiminhcity.gov.vn}. Apartment prices in prime districts rose 6% to USD 3,200–5,200 per sq m, constrained by limited new launches and solid investor demand. Metro Line 2 and Ring Road 4 are expected to redistribute demand towards Thu Duc City and outlying districts, where greenfield availability allows mixed-use mega-projects.

Hai Phong’s 13.28% CAGR outlook stems from synergistic port upgrades and industrial-zone expansion that generate well-paid manufacturing jobs. Developers such as Vinhomes are already parcelling 500-plus-hectare sites for integrated townships that combine worker housing, retail, and logistics facilities, creating virtuous localisation effects. Hanoi, by contrast, operates under stricter planning controls that cap high-rise density, driving 26% price gains in the secondary market during 2024. Scarcity has motivated land-efficient formats like micro-flats and co-living schemes targeting young professionals.

Central coastal city Danang leverages tourism and IT outsourcing to draw both holiday-home buyers and expatriate renters, helped by an upgraded international airport. Monthly rents for beachfront condominiums climbed 8% in 2024, outpacing national averages. Can Tho in the Mekong Delta and Bac Ninh near Hanoi represent frontier urban markets where developers take greenfield positions ahead of expressway completions. Government priority funding for bridges and flood-mitigation works underscores commitment to these emerging nodes, signalling long-term upside for the Vietnam residential real estate market.