HCMC – The worst is over for Vietnam’s real estate market and it is now on the path to recovery, experts said at a recent real estate forum.
At the Spring Real Estate Forum on February 19, held by the Vietnam Institute of Real Estate Research (VIRES) and Reatimes online real estate magazine, industry leaders pointed to increasing investor confidence, improved liquidity, and expanded project supply as signs of growth.
Pham Nguyen Toan, vice chairman of VIRES, noted that legal reforms, including the Land Law, the Housing Law, and the Real Estate Business Law, have helped establish a more stable policy framework. Based on these positive developments, he projected that Vietnam’s real estate market would see significant growth this year.
However, he cautioned that challenges remain, including overlapping regulations in land, construction, and investment, as well as concerns about capital accessibility and interest rates.
Tran Dinh Thien, a member of the prime minister’s economic advisory group, said that legal changes in 2024 provided a solid institutional foundation for market growth. The implementation of three key laws—Land, Housing, and Real Estate Business—will help address longstanding market bottlenecks.
Foreign direct investment is expected to drive expansion in industrial zones, high-tech urban areas, e-commerce hubs, and commercial-service ecosystems. The Government is also emphasizing transit-oriented development (TOD), integrating real estate with transport infrastructure, which is expected to reshape development strategies in the sector.
“Turning these opportunities into reality requires strong political commitment, flexible policies, and close collaboration between the Government and businesses,” Thien said.
Dr. Can Van Luc, chief economist at BIDV and a member of the National Financial and Monetary Policy Advisory Council, echoed these views, stating that the market had moved past its lowest point. He noted that Vietnam’s monetary policy will remain flexible to support economic growth, with interest rates expected to stay low, improving access to credit for both businesses and homebuyers.
