According to the Real Estate Market Report of the Ministry of Construction, in the fourth quarter of 2025 and the whole year 2025, there was a clear improvement in liquidity. The number of successful transactions increased compared to previous quarters, in which land plots continued to be a segment accounting for a large proportion, while apartments and detached houses showed positive signs of recovery.
In the total number of transactions, apartments and detached houses reached 37,865 transactions, an increase of about 17% compared to the previous quarter and 49% compared to the same period last year. This is considered a signal that real housing demand is gradually returning to the market, especially in major cities.
Notably, land plots continued to dominate with 113,517 successful transactions in the fourth quarter of 2025, an increase of about 8% compared to the third quarter of 2025 and 30% compared to the same period in 2024. According to the Ministry of Construction, land plot transactions are mainly concentrated in areas with synchronous connecting infrastructure and clear planning information.
General assessment of the land plot market in 2026, Mr. Le Dinh Chung - Member of the VARS Market Research Task Force, General Director of SGO Homes - said that land plots are still a segment that investors are interested in, but the level of interest will gradually decrease compared to the previous period.
Reality in the past period shows that when the market faced difficulties, products serving real housing needs, that is, built-up real estate, often had better liquidity, especially in large cities. At the same time, statistics also showed that built-up real estate achieved better price increases and was more sustainable than land plot products.
According to Mr. Chung, the psychology of investors today has changed significantly. When participating in real estate investment, investors not only expect price increases but also prioritize products that can create cash flow and attract real residents. Therefore, many investors also identify a common psychology of prioritizing built-up real estate, instead of just holding land plots waiting for price increases as before. Therefore, in the coming time, many projects will have to be implemented in the direction of selling pre-built houses.
Reality has also proven that, in urban areas without construction, the process of forming residential communities is slow, making the effectiveness of real estate price increases not high if considered in a long cycle. Meanwhile, built real estate not only creates usable value but can also be exploited for lease, forming cash flow. In the previous period of hot market increase, many land plots almost did not create value or cash flow throughout the holding process, thereby affecting the current investment taste.
According to Mr. Chung, the types prioritized by investors in the coming time include apartments in provincial markets and housing projects with synchronous construction. However, the requirements for investors to choose products have also become stricter. If previously, investment was mainly based on crowd psychology or planning expectations, now investors have set clearer criteria.
The criteria prioritized by investors include clear legal status; central location or new central area, where there is a dense population; the ability to form a real residential community. In addition, the product must meet the requirements for quality of life, including synchronous planning, landscape, parks, green trees and a full system of amenities for people to live in" - Mr. Chung analyzed.
Regarding areas of interest to investors, Mr. Chung said that 2024 recorded a strong development of the Hung Yen market, and 2025 is Bac Ninh with a high level of excitement.
In 2026, he forecasts that Hai Phong market, especially the old Hai Duong area, will become an attractive new destination for investors. In addition, provinces associated with industrial parks around Hanoi such as Bac Ninh and Hung Yen still maintain a high level of interest, in which Hai Phong is considered a noteworthy new market for the land plot segment.
