Vietnam Real Estate Market to Hit USD 34.4 Billion by 2033 with a Robust CAGR of 1.63%

Vietnam Real Estate Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 29.5 Billion

Market Forecast in 2033: USD 34.4 Billion

Market Growth Rate (2025-33): 1.63%

Vietnam real estate market size reached USD 29.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 34.4 Billion by 2033, exhibiting a growth rate (CAGR) of 1.63% during 2025-2033. Key drivers include rising urban migration, expanding residential projects, and supportive government policies. Notably, foreign direct investment (FDI) in Vietnam surged 46% year-on-year in Q1 2025, highlighting growing investor confidence. The market continues to attract attention as a prime investment hub in Southeast Asia, especially in commercial and industrial real estate segments.

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Vietnam Real Estate Market Trends and Drivers:

Vietnam's industrial and logistics property markets are experiencing accelerated growth, a permanent structural change, as the country proves to be a key player in the post-pandemic worldwide supply chain shift. Many large multinational manufacturers of electronics, car components and consumer goods have adopted the "China Plus One" strategy of establishing large manufacturing bases in Vietnam's Northern economic zone, anchored by Hai Phong and Bac Ninh, and the Southern economic zone, anchored by Ho Chi Minh City, Dong Nai and Binh Duong. In addition to record levels of occupancy and land lease prices, an often neglected factor is the demand for BTS and RBWs with height more than 12m and load capacity more than 5 ton/sqm. This is driven by the rising need for the modernization of logistics processes through automation. Future demand is likely to be concentrated in satellite provinces such as Hung Yen and Long An where infrastructure is developing rapidly, and major land banks are still available. The success of these new purpose built industrial parks will depend on the speed of the development of the supporting transport infrastructure and result in a virtuous cycle of investment and development securing the long-term industrial future for Vietnam.

We are in the midst of an overdue market correction from the super luxury end of the market into the severely underserved mid income and affordable housing segments. This is driven by an inescapable confluence of factors: government social stability efforts, the entry of a young urbanizing population cohort into their prime years of household formation, and the realization by developers that the sustainable and enduring value creation for their business lies in volume generation and not margin. As a result of rising credit costs and scrutiny of corporate bond issuance, developer business models are beginning to shift to focus on faster absorption and cash flow cycles. This is further evidenced by the current trend of "product downsizing" where small footprint products are being brought to market with improved layouts in planned locations outside the core city center. The independent research continues to show that there is still a massive latent demand in the market. Hundreds of thousands of units in municipalities adjacent to the United States' largest metropolitan areas are undersupplied. Future demand will largely be met via this portion of the market, and the ability of developers to achieve new breakthroughs in construction and development financing to deliver high quality units at scale will enable developers to access the most powerful and lasting driver of residential demand going forward.

Sustainability has now gone from being a marketing description to table stakes in competitive marketable real estate in Vietnam. In office and prime residential, tenants and buyers have moved to higher levels of sophistication and sensitivity around health, looking for wellness, indoor environmental quality (IEQ), and resilience, in addition to energy efficiency. This is essential in addressing the operational business risks of climate change. The proliferation of new green building certifications such as LEED, LOTUS and the WELL Building Standard, which all stress human health and well-being, is a strong indicator of this trend. A forethought is the price premium which Grade A offices located in city centers can command when ranked with the highest sustainable rating, ranging from 10% to 15% over those without certification. The viability of a new development will depend on the adoption of technologies such as better water management systems, on-site renewable energy, biophilic design that connects city dwellers with nature, and non-toxic, low-carbon alternatives to building materials. This is creating a two-tier market, where existing buildings that fall short of this goal will become obsolete and lose value, while those that ahead of the green curve will see greater occupancy rates, tenant retention and long-term asset value.

Vietnam Real Estate Market Industry Segmentation:

Property Type Insights:

Residential Real Estate
Apartments
Villas
Others
Commercial Real Estate
Offices
Retail
Hospitality
Others

Regional Insights:

Northern Vietnam
Central Vietnam
Southern Vietnam

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Key highlights of the Report:

Market Performance (2019-2024)
Market Outlook (2025-2033)
COVID-19 Impact on the Market
Porter's Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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