The real estate market in 2024 is gradually heating up with impressive growth in many segments, of which apartments are considered the focus. Other segments such as houses in alleys, traditional townhouses, residential land, and land plots are all showing positive signs of recovery, opening up optimistic expectations for the upcoming market stages.
Analyzing the current real estate market situation and forecasting the coming period, Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam said that 2024 is the time of reversal in investor psychology and the gradual emergence of market exploration. Due to weak market psychology, home buyers still revolve around the real estate segment with legal guarantees. Therefore, apartments hold the "throne" this year.
Starting from the second quarter of 2025 to the fourth quarter of 2025, the market will enter a period of prosperity. At this time, the potential for product price increases will be the key issue in investors' decisions to invest.
“If the current market operates according to the rules of previous fluctuation cycles, after the "hot" increase, apartments will move sideways and grow more slowly than other more profitable segments such as land and project villas. That is why investors need to pay special attention," Mr. Quoc Anh commented.
Sharing more about the potential price increase of the land segment compared to apartments, Mr. Nguyen Quoc Anh said: “In other stages of the market, apartments still have good profit margins but will no longer be the most attractive type of investment. In previous cycles, when the market moved to the development stage, apartments only earned 136 dong for every 100 dong invested. However, land will earn up to 300 dong.”
Sharing the same view on the market's recovery time and forecasting potential segments in the coming time, Mr. Pham Duc Toan - General Director of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) said that from the second quarter of 2025, the provincial real estate market in general, and the land segment in particular, will achieve better liquidity and be more vibrant.
Currently, only the Hanoi market is vibrant, with prices in most segments increasing dramatically. Meanwhile, most provincial real estate markets are still quite quiet, with liquidity difficult. However, some investors have begun to shift their investment trends to provinces with good economic growth, synchronous infrastructure and relatively low prices. However, the majority of investors still have a defensive mentality, so they do not decide to spend money quickly.
Although the land market has not yet become active again, this segment is showing impressive growth. According to data from PropertyGuru Vietnam, compared to the first quarter of 2023, land prices in the third quarter of 2024 in Dong Anh district increased from 41 million VND/m2 to 63 million VND/m2 (up 53%), land prices in Hoai Duc district increased on average from 55 million VND/m2 to 100 million VND/m2 (up 81%), with the strongest increase being in Thanh Oai district, from 21 million VND/m2 to 40 million VND/m2 (up 90%).
