Real estate

The fourth quarter would see increasing supply of new apartments, with around 9,700 units to get launched.

Along with relieving housing pressure in central urban areas, the new social housing projects will also help to expand residential zones beyond the city's borders.

Hanoi and Ho Chi Minh City are urged to speed up the development of social housing to meet the targets set.

The price increase for apartments in Hanoi in the first half of 2024 compared to the beginning of 2023 is 31%.

Hospitality real estate will perform better in the second half of 2024 and in the years to come.

Specialists expect that new legislation will help to tighten market control and thus bring prices down.

Property owners who rent commercial space need to change and adapt their approach in response to the difficulties faced by tenants.

Expectations are high following the approval by the National Assembly of the Real Estate Business Law, the Housing Law, and the Land Law, which will soon enter into force.

Scheduled to open in 2026, The Residences at Arbora, a Luxury Collection Resort & Spa in the famous central coastal city of Da Nang will be the first Luxury Collection Residences in the Asia Pacific region.

Promoting social housing projects remains a priority for the government.

In early Q2/2024, Vietnam's real estate market is steadily recovered, with the launch of numerous projects in different segments and impressive sales.

Hanoi's real estate market is expected to continue having positive developments in the upcoming quarters.

Remittance volumes will be a new source of demand driving the property market, according to VARS.

Hanoi is unlikely to see any new three-star hotel projects in the next three years, as the market favors the upper end.

Rising value of Hanoi's residential segment calls for measures to reduce property prices.

The Government, ministries, and businesses are urged to implement solutions to solve existing major issues hampering the development of the real estate market.