The year 2024 marked a transformative period for Vietnam’s real estate market, driven by the implementation of three landmark laws related to land, housing and real estate, the improving demand, and the significant influx of foreign investment into industrial property developments. The introduction of the 2024 Land Law, the 2023 Housing Law, and the 2023 Law on Real Estate Business has ushered in a new era of legal clarity and improved regulatory frameworks. These changes aim to enhance transparency and attract domestic and foreign investors. The industrial real estate sector emerged as a standout performer, buoyed by substantial foreign investment and global supply chain shifts. However, the market faced persistent challenges, including rising property prices and a shortage of affordable housing, which have made access to low-cost homes hard for many potential homebuyers. According to property companies, these dynamics have reshaped Vietnam’s real estate landscape, offering a mix of hurdles and opportunities for developers, investors, and buyers. High-end surge, mid-range squeeze The latter half of 2024 saw Vietnam’s housing market recover, fueled by an influx of new high-end apartment projects. However, this luxury boom has widened the affordability gap, according to Avison Young Vietnam. In HCMC, the market was dominated […]
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