As 2024 comes to an end, the Vietnamese real estate market has passed its most difficult period with supply increasing year by year. Newly launched housing projects, especially in the apartment segment, have recorded good absorption rates.
However, the market still faces many challenges. The market recovery is still clearly differentiated between segments, regions, product types and even between suppliers.
According to Lao Dong reporters, the housing supply is still not enough in both quantity and quality to meet the actual needs of the people.
Ms. Pham Thi Lien (28 years old, living in Phung Khoang, Thanh Xuan district, Hanoi) shared that at the end of 2024, she decided to give up the idea of buying a house during this time due to the high price of houses. "Not only did the owner offer a high price, but he also suddenly increased the price because he saw many people interested in buying" - Ms. Lien shared.
Experts say that with the determination of businesses and support from state management agencies, along with the completion and implementation of new legal regulations on land, housing and real estate business, many obstacles will be gradually resolved. These efforts are expected to help the market recover strongly, develop more stably, and have a diverse and abundant supply in the coming time.
Dr. Tran Xuan Luong - Lecturer specializing in real estate, National Economics University - said that in the short term, it is forecasted that the supply of residential real estate in 2025 will continue to grow compared to 2024 and will be contributed more evenly by regions.
The reason given by this expert is that many projects have been cleared of obstacles and are being re-implemented in 2024, and many projects also have plans to "launch" to take advantage of the market's recovery opportunities. However, the real estate supply is expected to be mainly contributed by large investors in the northern metropolitan areas.
The apartment segment, mainly the segment priced from VND50 million/m2 and above, continues to lead the market, with an increase in luxury supply.
Villas/townhouses/townhouses are also gradually becoming the focus of the market with new supply growing from large urban projects with synchronized infrastructure and utilities expected to open for sale.
However, housing supply will continue to be scarce compared to housing demand, including both residential and investment demand, which is constantly increasing with economic development and urbanization.
In particular, the affordable housing segment, because the supply from social housing projects is expected to grow “significantly” in 2025, still accounts for a very small proportion of the housing supply structure of the entire market. Meanwhile, the demand for affordable and mid-range housing is still the main demand.
