The land plot market in the first quarter of 2026 recorded a clear decline as search and trading demand simultaneously decreased in major cities. The price level adjusted slightly down, liquidity continued to be low and the market fell into a state of stalemate.
According to Ms. Pham Thi Mien - Deputy Director of the Vietnam Real Estate Market Assessment Research Institute (VARS IRE), residential land and detached houses in some suburban areas, especially in the South, still recorded low market liquidity.
Real transactions mainly focus on products with good quality, clear legal status and convenient locations. Meanwhile, the land plot segment in many areas is still in a difficult situation for transactions.
The market is redefining the concept of "goods" in a direction associated with usable value and actual exploitation capacity. Although prices have been reduced or maintained at a low level, many land plot products in remote areas, lacking connectivity infrastructure and utilities, are still in a "frozen" state, with almost no transactions occurring.
Commenting on the land plot segment, Ms. Do Thi Ngoc Anh - Senior Business Manager of Batdongsan.com.vn - said that land plots are a segment with high sensitivity to macroeconomic factors.
In the past 3 years, every time information about planning, geographical merger or policy changes appears, the level of interest in land plots in related areas usually increases sharply. However, when interest rate pressure, tax changes or global geopolitical fluctuations appear, the demand for search and transaction also decreases rapidly accordingly.
Data in Q1/2026 shows that this trend is clear. Both Hanoi and Ho Chi Minh City recorded a decrease in interest in land plots compared to the end of last year. Ho Chi Minh City (old area) decreased by 5%, while Hanoi decreased more sharply, about 23%.
Regarding selling prices, land plot prices in Hanoi, the average asking price for land plots in the first quarter of 2026 reached 81 million VND/m2, slightly lower than 82 million VND/m2 in the fourth quarter of 2025 but still significantly higher than 75 million VND/m2 at the beginning of 2025. In Ho Chi Minh City (old area), the price remained unchanged at 68 million VND/m2, higher than 63 million VND/m2 in the same period last year.
Meanwhile, Mr. Vo Huynh Tuan Kiet - Director of Housing Project Marketing Department of CBRE Vietnam - said that 2026 will be a "strong screening" period for the land plot market.
According to Mr. Kiet, the regulation on real estate identification codes helps to make ownership and price levels transparent, thereby limiting the situation of "two-price" transactions and clarifying the actual value of assets.
Notably, land plots are gradually passing through the "land subdivision era". Regulations prohibiting land subdivision for sale in urban areas of type I, II and III may cause the supply of spontaneous land plots to decrease by up to 80%.
DKRA's forecast shows that in the second quarter of 2026, Ho Chi Minh City and southern provinces will only have about 400 new land plot products offered for sale, mainly in Tay Ninh. Meanwhile, the supply of landed houses is expected to increase sharply, with more than 2,300 new units for sale.
Many businesses have planned to adjust legal regulations, converting land plot projects to develop townhouses or villas to improve liquidity, causing the short-term land supply to continue to narrow.
Mr. Vo Hong Thang - Deputy General Director of DKRA - said that when the market enters the screening phase, products with usable value and sustainability will be prioritized, gradually replacing purely based on expectations of rapid price increases. This makes the land plot segment continue to face many challenges in the coming time.
