According to the Real Estate Market Report for the second quarter of 2025 of the Vietnam Real Estate Brokers Association, the residential real estate market is entering a period of stability and development after activating a new growth cycle, with clear signs of recovery in supply.
In the second quarter of 2025, the market recorded more than 36,000 new housing products, more than 2.5 times higher than the previous quarter and up 90% over the same period in 2024. In the first 6 months of the year, the total supply of residential real estate reached about 64,000 products, equivalent to 80% of the supply for the whole year of 2024. Of these, more than 51,000 are new products, the rest are inventories that continue to be offered for sale on the market.
The supply has skyrocketed thanks to a series of large-scale projects being accelerated by investors, as well as new projects being cleared by law. In particular, the strong return of the Southern region is one of the notable signs of recovery in the market.
Despite the significant improvement in supply, the structure is still unbalanced, especially in large cities such as Hanoi, Ho Chi Minh City and Da Nang - places with the highest real demand. The market mainly opens for sale of high-end and luxury apartments, with almost no commercial apartments priced below VND60 million/m2.
In the second quarter of 2025, apartments will continue to lead the supply of newly opened for sale, accounting for 56%. Of which, high-end and luxury apartments still account for a large proportion, reaching 60%, up 2 percentage points compared to the previous quarter and the same period in 2024.
Mid-range apartments recorded an increase in their proportion, reaching 35%, an increase of about 9 percentage points over the same period thanks to the emergence of newly opened projects in the outlying provinces, with prices starting from 40 million VND/m2. Meanwhile, affordable apartments still account for a very low proportion, mainly from some social housing projects.
In the apartment segment alone in the first 6 months of 2025, new supply doubled compared to the same period last year. However, the supply structure has not changed much, even showing an increasingly shifting trend, as projects with opening prices over 80 million VND/m2 continue to increase sharply.
Hanoi continues to lead the country in the rate of increasing apartment prices in the second quarter of 2025, followed by Da Nang, while Ho Chi Minh City also recorded a significant increase. Compared to the original period, the average selling price in Hanoi increased by 87.7%, Da Nang increased by 69.8% and Ho Chi Minh City increased by 48.3%.
In Hanoi, the average selling price of apartments in the second quarter reached about 75.5 million VND/m2, an increase of 7.7% compared to the previous quarter. The increase is mainly due to investors continuing to offer inventories at increasing prices. Secondary prices in Hanoi also increased again when newly opened projects were priced from 75 million VND/m2 or more (including VAT and KPBT), in which some projects were offered for sale at over 100 million VND/m2, although liquidity has not improved much.
Ho Chi Minh City recorded an average selling price of 77.1 million VND/m2. In Da Nang City, the average selling price of apartments in the second quarter reached 66.4 million VND/m2, up 5% compared to the previous quarter and up 69.8% compared to the original period. The main reason is the appearance of many new projects with prices significantly higher than the old level, creating a new price level for the entire market. Some investors increase opening prices in parallel with increasing discounts if buyers pay early to attract cash flow.
Secondary liquidity shows signs of improvement in some apartment projects in large urban areas that have formed, attracting residents to live, with prices of about 50 million VND/m2, or in high-end projects in the central area.
The Vietnam Association of Realtors predicts that real estate prices will continue to increase in the short term, as investors' profit expectations are still high. A large number of investors are not currently under significant financial pressure, including loan costs, so there is no incentive to adjust prices down. On the contrary, the expectation of price increases is still on the rise in the context of low interest rates, cheap cash flow continues to be pumped into the market, along with policies to promote public investment being promoted, while the supply of real estate in the appropriate price segment is still scarce.
