Vietnam’s property market shows signs of recovery

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In Vietnam, the property sector is lively again after the correction of 2023-24 — especially in the residential segment.

Amid strong demand and persistent supply shortages, Savills’ residential property-price indices are showing a strong uptick for housing in both Hanoi and Ho Chi Minh City.

The 2023-24 downturn was driven by an anti-corruption crackdown that caught up prominent property developers. Many planned projects were put on hold.

To see how confidence has returned to the development sector, we can examine Vietnam’s statistics on new businesses.

Back in 2021, the property sector was responsible for almost half of the registered capital reported for new enterprises. As our second chart shows, this measure of new investment saw the property sector fall behind wholesale and retail trade two years later. But as of late 2025, this indicator is on an upturn again.

We can also examine the number of new property businesses being registered, which has returned to a near-2021 pace. This correlates with the rise in real-estate and construction loans in the financial system.

Breaking down credit flows in the real-estate sector shows the growing importance of urban development, especially housing, versus tourism-related construction and acquisitions of new land.