New laws, abrupt property price surges dominate headlines in Vietnam's 2024 real estate market
Vietnam’s real estate landscape has shown some bright spots in 2024 on the back of three new real estate-related laws, but continued to face challenges, including supply-demand imbalance and abrupt surges in home prices.
Approval of three real estate-related laws
On June 29, the National Assembly, the country’s parliament, passed a law on amendments and supplements to the 2024 Land Law, the 2023 Law on Housing, and the 2023 Law on Real Estate Business.
These three laws took effect on August 1, 2024, five months earlier than scheduled. However, many experts and lawmakers believe that the enforcement of these new laws will take time to produce tangible results. Consequently, their specific impacts on the real estate market are not expected until 2025.
State intervention in strong home price fluctuations
Under Decree 96/2024, issued by the government in July, the state will intervene if property prices surge or plunge by 20% within three months, or if developments in the real estate market threaten socio-economic stability.

An apartment complex in Hanoi. Photo by The Investor/Trong Hieu.
The decree stipulates that individuals engaged in small-scale real estate businesses are not required to plan an investment project or establish a firm. However, the number of transactions must not exceed ten per year, and the value of each contract must be under VND300 billion ($11.8 million). These individuals are also required to declare and pay taxes.
Proposal to tax multiple property ownership
On December 6, the Ministry of Finance proposed taxing those who own second properties and beyond as a way to curb speculation and stabilize the real estate market.
The Ministry of Construction voiced its support for the finance ministry’s proposal amid stubbornly high home prices.
Industrial real estate remains spotlight
The steady growth of FDI in Vietnam has been a key driver of the local industrial real estate market.
From January to November, FDI in Vietnam’s real estate sector reached nearly $5.63 billion, accounting for 17.9% of the total FDI and marking an 89.1% year-on-year increase. This made real estate the second-largest recipient of FDI during the period, behind the manufacturing and processing sector.
Legal hitches stall $3 bln worth of real estate projects
Thousands of real estate projects across Vietnam, worth over $3 billion, have been stalled by legal hitches, according to the Vietnam Association of Realtors (VARS).
So far this year, the Ministry of Construction has addressed all 191 requests from localities, businesses, and people concerning 210 real estate projects.
Serious supply-demand mismatch
VARS reports that while housing supply has improved, the increase is primarily in the high-end segment, which meets only a small fraction of demand. Meanwhile, the need for affordable housing among the majority remains largely unmet, worsening the imbalance between supply and demand.
Currently, affordable apartments in Hanoi and Ho Chi Minh City have become virtually “extinct” from the market.
Home prices in major cities reach new highs
According to the construction ministry, as of end-Q3, new apartment prices in Hanoi had risen by 4-6% from Q2 and by 22-25% compared to the same period last year. In some areas, prices surged by as much as 35-40% from Q2.
The ministry attributed these price increases to rising land costs and a persistent shortage of affordable housing.
Social housing development goals remain unmet
Nearly all localities have failed to meet the goal of developing at least one million social housing units for factory workers and low-income earners by 2030.
Since 2021, a total of 644 social housing projects, comprising 580,109 units, have been planned. Among these, 96 projects with 57,652 units have been completed, 133 projects with 110,217 units have commenced, and 415 projects with 412,240 units have been approved.
Additionally, the disbursement of a VND120 trillion ($4.72 billion) credit package for social housing has been slow. So far, only 16 projects have secured a total of VND4.2 trillion ($165 million) from this package.
Challenges persist for real estate developers
According to the Ho Chi Minh City Real Estate Association (HoREA), the local real estate market has shown signs of recovery since early 2024, recording 6–7% year-on-year growth in the first nine months of the year.
However, HoREA has expressed concern about the financial health of real estate developers, who face mounting debt repayment pressures. Approximately VND59 trillion ($2.35 billion) worth of bonds are set to mature by the end of the year.
- Read More
Four new container terminals to be built in northern Vietnam economic hub
Prime Minister Pham Minh Chinh has granted in-principle approval for the development of four new container terminals at Lach Huyen Port in the northern city of Hai Phong.
Infrastructure - Wed, July 9, 2025 | 5:36 pm GMT+7
Sausage mogul eyes $5 bln green energy, cattle project in northern Vietnam
Mai Huy Tan, who founded and later sold the popular Duc Viet sausage brand, has proposed a $5 billion circular economy complex in Quang Ninh province, northern Vietnam.
Industries - Wed, July 9, 2025 | 5:14 pm GMT+7
Northern Vietnam urban-tourism project Cat Ba Amatina has new investor
Hanoi Anpha Real Estate Exchange Co., Ltd. (Hanoi Anpha) has become a major shareholder of Vinaconex ITC, the developer of the Cat Ba Amatina urban-tourism project in Hai Phong city, northern Vietnam.
Real Estate - Wed, July 9, 2025 | 2:57 pm GMT+7
Brazil’s leading food group JBS eyes turning Vietnam into global production hub
JBS, the world’s leading food processing company, is looking to transform Vietnam into a global and regional distribution and production center.
Industries - Wed, July 9, 2025 | 9:51 am GMT+7
Brazilian-backed payment solutions firm Alterosa MK plans expansion in Vietnam
Alterosa MK, a joint venture between Brazil’s Alterosa Group and MK Group of Vietnam, said it expects to receive more support from the two governments for investment expansion.
Finance - Wed, July 9, 2025 | 9:00 am GMT+7
USD price may reach VND26,400 in Q3, VND26,200 in Q4: UOB
Singaporean bank UOB's updated USD/VND projections are 26,400 in Q3/2025, 26,200 in Q4/2025, 26,000 in Q1/2026, and 25,800 in Q2/2026.
Economy - Wed, July 9, 2025 | 8:41 am GMT+7
Vietnam's stock market moving toward sustainability, professionalism: exec
The quality of investors in Vietnam has significantly improved as more and more investors start to adopt asset management strategies and disciplined investing, instead of merely engaging in short-term trading, said Nguyen Hoang Yen, chairwoman of Mirae Asset Securities.
Finance - Tue, July 8, 2025 | 11:40 pm GMT+7
Vietnam's credit growth hits record high since 2023
Vietnam’s total credit outstanding surpassed VND17.2 quadrillion (about $658.31 billion) in the first half of 2025, marking a 9.9% increase from the end of 2024 and a 19.3% rise year-on-year, the highest growth rate since 2023.
Banking - Tue, July 8, 2025 | 11:26 pm GMT+7
Foreign investors net buy for fifth consecutive session
Foreign investors' transactions on the Ho Chi Minh Stock Exchange (HoSE) continued to be a highlight as they net bought for the fifth consecutive session on Tuesday, to the tune of over VND7,679 billion ($293.88 million).
Finance - Tue, July 8, 2025 | 6:08 pm GMT+7
Northern Vietnam province opens bid for $2 bln tourism-casino complex project
Quang Ninh, a coastal province in northern Vietnam, is seeking investors for a large-scale tourism and casino complex valued at VND51.5 trillion ($2 billion) in its strategic Van Don Economic Zone.
Real Estate - Tue, July 8, 2025 | 4:37 pm GMT+7
The Investor to hold seminar on raising investor awareness towards stock market status upgrade
The Investor and its Vietnamese-language sister Nhadautu.vn will host a seminar titled “Raising investor awareness towards stock market status upgrade” in Hanoi on July 17.
Finance - Tue, July 8, 2025 | 4:02 pm GMT+7
Many uncertainties over exchange rates: Vietnam's central bank
There are many "unknowns" with monetary policy and exchange rates in the coming time, said Pham Chi Quang, director of the State Bank of Vietnam's (SBV) monetary policy department.
Banking - Tue, July 8, 2025 | 3:53 pm GMT+7
World's largest iron ore, nickel producer wants to expand business in Vietnam
Prime Minister Pham Minh Chinh has asked Vale Group, a multinational Brazilian corporation in the fields of metals, mining, and logistics, expand business in Vietnam.
Industries - Tue, July 8, 2025 | 1:52 pm GMT+7
Vietjet appoints new managing director
Vietjet Aviation Joint Stock Company (HOSE: VJC) has appointed Nguyen Thanh Son as its new managing director, succeeding Dinh Viet Phuong.
Companies - Tue, July 8, 2025 | 8:10 am GMT+7
First turbine rotor installed at expanded Hoa Binh hydropower plant in northern Vietnam
The rotor of the first turbine at the expanded Hoa Binh Hydropower Plant project was successfully installed on Sunday in Phu Tho province, formerly Hoa Binh province, northern Vietnam.
Companies - Tue, July 8, 2025 | 8:07 am GMT+7
Singapore heavily penalizes nine financial institutions for money laundering
The Monetary Authority of Singapore (MAS) has fined nine financial institutions SGD27.45 million ($21.55 million) for breaches related to the 2023 money laundering case involving more than SGD3 billion in assets.
Southeast Asia - Tue, July 8, 2025 | 7:58 am GMT+7