Foreign direct investment in the real estate sector for 2024 reached 3.72 billion USD, making up 18.8% of the total FDI that Vietnam attracted in the year, second only to the manufacturing sector, reported the General Statistics Office.
Land-related revenue in Ho Chi Minh City has surged nearly 50% year-on-year, surpassing 25.3 trillion VND (nearly 1 billion USD) in 2024, according to data from its Department of Natural Resources and Environment.
The primary selling prices of condominiums in Hanoi experienced a sharp 36% year-on-year and 12% quarter-on-quarter increase in 2024, according to CBRE Vietnam, a foreign real estate service company.
The following is a brief review of the day’s events as reported by the Vietnam News Agency.
Foreign direct investment (FDI) in the real estate sector for 2024 reached 3.72 billion USD, making up 18.8% of the total FDI that Vietnam attracted in the year, second only to the manufacturing sector, reported the General Statistics Office (GSO).
The supply of social housing in Vietnam is anticipated to increase significantly next year, driven by preferential policies and the Ministry of Construction’s (MoC) efforts to address obstacles hindering related projects, according to experts.
The explosive growth of e-commerce and logistics in Vietnam is pushing up demand for warehouse real estate along with infrastructure investment.
The Vietnamese real estate market is signalling the end of a prolonged downturn, with notable signs of recovery in profitability. However the pace of revival remains measured, due to sluggish sales and limited improvements in consumer incomes.
The mergers and acquisitions (M&A) market is eyeing a booming year in 2025 when delayed deals are likely to resume thanks to a better business environment, according to experts.
Vietnam's real estate price growth over the past five years has reached 59%, significantly higher than other countries such as the US (54%), Australia (49%), Japan (41%), and Singapore (37%), according to data from the Global Property Guide.
Vietnam’s residential property market has captured the attention of High-Net-Worth Individuals (HNWIs) and investors, driven by strong GDP growth, urbanisation, and its strategic role in the “China+1” strategy, according to Knight Frank’s report.
Revenue from personal income tax and registration fees associated with real estate transactions in Ho Chi Minh City has surged by 50% to reach over 6.54 trillion VND (257.6 million USD) in the first nine months, according to data from tax authorities.
Despite a modest influx of foreign direct investment (FDI) in the real estate sector since early 2024, Savills Vietnam sees a silver lining in the surge of FDI into high-tech manufacturing.
Deputy Prime Minister Tran Hong Ha on October 25 ordered competent ministries and local administrations to evaluate the real estate situation as well as the responsibilities of relevant sides in housing market predictions and regulation of the realty product segments.
The real estate market in Ho Chi Minh City has witnessed positive changes over the past nine months.
Data from Savills showed that apartments priced at 4 billion VND (160,950 USD) or more accounted for 70% of the number of those sold in the first nine months of 2024, a sharp increase from 2% in 2020.
The IMF acknowledged that Vietnamese authorities have acted quickly to mitigate risks in the real estate and corporate bond markets.
While some real estate companies have paid large dividends to investors, many others in the sector still have to struggle to rotate capital sources to pay debts and reinvest.
The mid-range segment accounts for 98% of the total supply of apartments in Hanoi, while the high-end segment constitutes a mere 2%, experts said.
Foreign investors poured a total of 2.4 billion USD into the real estate market of Vietnam in the first eight months of this year, five times the level over the same period last year, according to the latest updates from the General Statistics Office (GSO).