Vietnam Residential Real Estate Market Report and Forecast 2024-2032

Vietnam Residential Real Estate Market Report and Forecast 2024-2032

Vietnam Residential Real Estate Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the Vietnam residential real estate market is projected to grow at a CAGR of 1.6% between 2024 and 2032. Aided by rapid urbanisation, increasing disposable income, and a growing middle-class population, the market is expected to grow significantly by 2032.

Vietnam's residential real estate sector is a critical component of the national economy, offering a wide range of housing options from affordable apartments to luxury villas. This market segment caters to the diverse needs of a rapidly growing population, underscoring the country's dynamic urban development and economic progress.

The Vietnam residential real estate market growth is driven by several key drivers. The ongoing urbanisation, marked by the migration of the population from rural to urban areas, has led to an increased demand for housing in cities. This trend is bolstered by Vietnam's robust economic growth, which has enhanced purchasing power and fostered a conducive environment for real estate investment.

Moreover, the Vietnamese government's initiatives to stimulate the real estate market, including reforms in property ownership laws and investments in infrastructure development, have significantly contributed to market expansion. These policies have made it easier for domestic and foreign investors to engage in the real estate market, further fuelling growth.

The changing demographics and lifestyle preferences of the Vietnamese population also posing a positive impact on the Vietnam residential real estate market outlook. A growing preference for modern, well-located, and amenity-rich housing units among young professionals and families is driving the development of new residential projects. Additionally, the rising interest in sustainable and green living spaces reflects a broader shift towards environmentally conscious living.

According to the Vietnam residential real estate market analysis, technological advancements and digitalisation have transformed the Vietnam residential real estate market, with online platforms and real estate apps simplifying the property search and transaction process. These technologies have enhanced transparency, efficiency, and accessibility, making it easier for buyers to find and invest in property.

Geographically, the demand for residential real estate is most pronounced in Vietnam's major cities, which are the epicentres of economic activity, cultural life, and urban development. These areas are witnessing significant investments in residential projects, aimed at accommodating the growing urban population and meeting the rising standards of living.

Market Segmentation

The market can be divided based on type, budget, size, and business type.

Market Breakup by Type

• Apartments and Condominiums
• Villas and Landed Houses

Market Breakup by Budget

• Less than $300,000
• $300,001 to $700,000
• $700,001 to $1,000,000
• $1,000,001 to $2,000,000
• More Than $2,000,000

Market Breakup by Size

• Less Than 50 square meters
• 51 to 80 square meters
• 81 to 110 square meters
• 111 to 200 square meters
• More Than 200 square meters

Market Breakup by Business Type

• Sales
• Rental
• Lease

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Vietnam residential real estate market. Some of the major players explored in the report by Expert Market Research are as follows:

• Sun Group
• Novaland Investment Group Corporation
• Dat Xanh Real Estate Service Contructions Corp
• FLC Group JSC
• Hung Thinh Land Joint Stock Company
• Phu My Hung Development Corporation
• Vinhomes Joint Stock Company
• Nam Long Investment Corporation
• Phat Dat Real Estate Development Corporation
• NovaGroup
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.