Vietnam's real estate market active but cautious

At a government media briefing in Hanoi on March 4, Ha Quang Hung, deputy director of the Department of Housing and Real Estate Market Management under the Ministry of Construction (MoC), said the real estate market in 2026 was projected to remain dynamic but careful, with the apartment and housing segments continuing to record strong development.

Ha Quang Hung, deputy director of the Department of Housing and Real Estate Market Management. Photo: chinhphu.vn

“The differentiation will become increasingly clear as homebuyers and investors prioritise projects with transparent legal status, integrated infrastructure, real usability value, and a reputable developer,” he said.

“This will provide a foundation for the healthy development of the real estate market, reducing speculation and moving towards sustainable growth in the new phase.”

According to the MoC, the government directed ministries and agencies to focus on implementing and removing delays in institutions, legal frameworks, and funding sources last year. In 2026, the market is expected to enter a more pronounced recovery phase.

"In 2025, we witnessed positive developments in reviewing and amending policy mechanisms. First was the Land Law. Second is urban and rural planning law. Third was the Construction Law. Fourth is the Housing Law. Along with that were laws related to investment, finance, and banking. We revised, supplemented, and reviewed these laws to address issues and bottlenecks," Hung said.

“As a result, many previously stalled projects related to institutional issues have been categorised and processed according to the appropriate authority. Administrative procedures have also been streamlined to be more transparent and reduce the time required for project investment preparation. This is a crucial prerequisite for businesses and citizens, while also creating a stable investment and business environment," he added.

Many projects that have been stalled or delayed will be resolved and restarted. In particular, projects that have completed legal procedures are expected to increase and develop further. Therefore, there will be a larger supply than in 2025.

“Unlocking this supply will help regulate prices and alleviate the overheating market experienced recently. People with genuine housing needs will have the opportunity and conditions to access housing products that suit their income,” he said.

Market liquidity tends to recover in a more substantive way, linked to real housing needs and long-term investment needs, rather than depending on short-term, speculative cycles.

However, Hung also predicted that the real estate market would continue to be affected by macroeconomic factors, domestic and international fluctuations, interest rate and capital cost changes, as well as planning, housing standards and regulations, environmental protection, and sustainable urban development.

Policy management needs to continue to ensure a balance between achieving growth targets and controlling risks, he added.

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