The Vietnam Commercial Real Estate Market Report is Segmented by Property Type (Offices, Retail and More), by Business Model (Rental and Sales), by End User (Individuals / Households and More) and by Region (Ho Chi Minh City, Hanoi and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Vietnam commercial real estate market size reached USD 17.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 63.0 Billion by 2033, exhibiting a growth rate (CAGR) of 14.1% during 2025-2033. The growing demand for modern warehousing and distribution centers, increasing focus on eco-friendly building practices and green certifications, and rising demand for commercial properties, such as hotels, resorts, and retail spaces in tourist hubs, represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type.

The Vietnam commercial real estate market reached approximately USD 16.61 Billion in 2024. The market is projected to grow at a CAGR of 13.80% between 2025 and 2034, reaching a value of around USD 60.51 Billion by 2034.

Vietnam Commercial Real Estate Market was valued at USD 19.83 Billion in 2024 and is projected to reach USD 59.04 Billion by 2032, growing at a CAGR of 14.61% during the forecast period from 2026-2032.

Commercial real estate (CRE) refers to properties used for business purposes, primarily for revenue generation through leasing or rental activities. This category includes a wide variety of property types, such as office buildings, retail spaces, industrial facilities, and multifamily dwelling units.

Commercial real estate has a wide range of purposes; it can be used to house businesses, offer important services to communities, or as an investment vehicle to generate capital gains and consistent cash flow.

As of the fourth quarter of 2022, the vacancy rate of retail properties in central business district (CBD) areas in the capital city of Vietnam was 4.8 percent. In comparison, this figure for non-CBD retail real estate was 13.6 percent. Hanoi is among Vietnam's largest economic, cultural, educational, and entertainment centers.

Vietnam Real Estate & Mortgage Market size was valued at USD 46.30 Billion in 2024 and is projected to reach USD 107.6 Billion by 2032, growing at a CAGR of 11.2% from 2026 to 2032.

Vietnam Real Estate & Mortgage Market: Definition/Overview

Real estate refers to land and any permanent structures or improvements attached to it, encompassing a wide range of properties including residential homes, commercial buildings, and industrial sites. It is considered a tangible asset that holds intrinsic value and can be used for various purposes such as living, working, or investment.

Real estate also includes natural resources found on the land, such as water, minerals, and crops. In contrast to personal property, which consists of movable items not permanently affixed to land, real estate is characterized by its immobility and the legal rights associated with ownership, which can include the ability to lease, sell, or develop the property.

As of the fourth quarter of 2022, the vacancy rate of retail real estate in central business district (CBD) areas in Ho Chi Minh City, Vietnam amounted to *** percent. Whereas, this figure for non-CBD retail properties was **** percent. Ho Chi Minh City is among the largest economic, cultural, education, and entertainment centers in Vietnam.

Vietnam real estate and mortgage market size is projected to exhibit a growth rate (CAGR) of 6.21% during 2025-2033. The growing adoption of digital solutions in the mortgage sector to streamline the application and approval processes, increasing demand for residential and commercial properties, and rising popularity of transparency in real estate transactions represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type and value.

The Vietnam real estate and mortgage market presents a compelling investment opportunity, exhibiting robust growth and significant potential. With a 2025 market size of $47.59 billion and a Compound Annual Growth Rate (CAGR) of 12.94% projected through 2033, the sector is poised for substantial expansion. Key drivers include a burgeoning population, rapid urbanization, increasing disposable incomes, and government initiatives promoting infrastructure development and foreign investment. Strong demand across residential, retail, logistics/industrial, hospitality, and office segments fuels this growth. The market is segmented by property value (premium, luxury, affordable), reflecting diverse consumer preferences and affordability levels. Major cities like Ho Chi Minh City and Hanoi are key growth centers, attracting significant investment and development. While challenges such as land scarcity and regulatory hurdles exist, the overall outlook remains positive, supported by the sustained economic growth and increasing middle class in Vietnam. Prominent developers like Vingroup, Dat Xanh Group, and Novaland Group are shaping the market landscape, contributing significantly to the ongoing construction and development activities across various property types. The mortgage market complements this real estate boom, providing crucial financing for both individual homebuyers and large-scale development projects. The long-term forecast anticipates continued expansion across all segments, although the growth rate may moderate slightly in later years as the market matures. The segmentation within the market offers further insights into its dynamics. The residential sector, driven by a young and growing population, represents a significant portion of the market. The increasing demand for modern and efficient logistics facilities contributes to the growth of the industrial sector. The hospitality and office segments are benefiting from the rising tourism sector and increasing foreign investment. The premium and luxury segments cater to a growing affluent population, while the affordable segment serves the vast majority of the population, indicating a diverse and robust market structure that caters to varying income levels and preferences. Analyzing the market performance across key cities such as Ho Chi Minh City and Hanoi will provide detailed understanding of geographical variations in demand and supply within the Vietnam real estate market. Further, understanding the role of mortgage finance and the various lending institutions involved is crucial to a complete market analysis. Recent developments include: November 2023: Phat Dat Real Estate Development Joint Stock Company and Military Commercial Joint Stock Bank (MB Bank) signed a comprehensive cooperation agreement with the purpose of financial sponsorship for investors and customers. The sponsored project is the Thuan An 1 and 2 high-rise housing complex with a scale of 4.47 hectares, located in a prime location right in the central area of Thuan An City, connected to many large industrial clusters in Binh Duong. The project completed its legality with an investment of more than VND 10,800 billion, including apartment products, shophouses, and townhouses.June 2023: The world's largest contract electronics maker and assembler, Foxconn, received approval from Vietnam to invest USD 246 million in two new projects in the northern province of Quang Ninh.. Key drivers for this market are: Ho Chi Minh City and Hanoi Experiencing Rapid Urban Expansion, Streamlined Real Estate Lending Services. Potential restraints include: Ho Chi Minh City and Hanoi Experiencing Rapid Urban Expansion, Streamlined Real Estate Lending Services. Notable trends are: Residential Segment Experiencing Rapid Growth in the Market.

As of the fourth quarter of 2022, the vacancy rate for grade A offices in Ho Chi Minh City, Vietnam was 6.1 percent. Meanwhile, only 2.5 percent of Grade A office real estate in the central business district was vacant in the city. Ho Chi Minh City is one of the largest economic, cultural, education, and entertainment centers in Vietnam.

Comprehensive dataset of 261 Industrial real estate agencies in Vietnam as of July, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

The ASEAN office real estate market, valued at approximately $100 million in 2025, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 9% from 2025 to 2033. This expansion is fueled by several key factors. The region's burgeoning economies, particularly in Vietnam, Indonesia, and the Philippines, are attracting significant foreign direct investment, driving demand for modern office spaces. Technological advancements and the rise of the digital economy are also contributing to increased office space needs, particularly in tech hubs across the ASEAN nations. Furthermore, a growing middle class and a young, increasingly skilled workforce are bolstering the demand for high-quality office accommodations in major cities like Singapore, Bangkok, Ho Chi Minh City, and Jakarta. However, challenges remain. Supply chain disruptions and global economic uncertainties could impact the market's trajectory. Additionally, varying regulatory frameworks across different ASEAN countries may pose obstacles for seamless market integration and development. Despite potential challenges, the long-term outlook remains positive. Strategic investments in infrastructure development, coupled with government initiatives to enhance business environments, are expected to sustain market growth. The increasing adoption of flexible workspaces and sustainable building practices will also shape future market dynamics. Competition among established players like Savills, CBRE, Hines, and local developers is expected to intensify, leading to innovations in design, technology integration, and tenant service offerings. This competitive landscape, along with the underlying economic strength of the region, promises continued expansion for the ASEAN office real estate market in the coming years. While precise regional breakdowns are unavailable, Singapore and Thailand are likely to dominate in terms of market share given their established economies and mature real estate markets. Vietnam, Indonesia, and the Philippines represent high-growth areas with significant potential. Recent developments include: October 2023: The Instant Group (a leading global platform for flexible workspaces) secured a three-year managed office agreement with Arvato Systems Malaysia. The existing office space of Arvato Systems Malaysia in Kuala Lumpur, a pivotal development center for the Arvato Systems Group, is expected to undergo renovation and expansion. Expected to be finished in 2024, the total office space of Arvato Systems Malaysia will be 26,720 sq. ft, with 15,963 sq. ft undergoing refurbishment and an additional 10,757 sq. ft being custom-fit for the company's needs.January 2023: TAM Group, a GSSA (general sales and service agent) based in Hong Kong, expanded its presence in Southeast Asia by opening three new offices. Responding to the increased demand in the region, TAM Group partnered with Thailand’s GP Group and Vietnam’s TP Cargo Transport Services to establish offices in key strategic areas, including Bangkok, Ho Chi Minh City, and Hanoi.. Key drivers for this market are: 4., Increasing Demand for Co-Working Spaces. Potential restraints include: 4., Increasing Demand for Co-Working Spaces. Notable trends are: Demand for Co-Working Spaces is Driving the Market.

In the second quarter of 2022, the average prime rent price for retail purposes in Ha Noi was around **** U.S. dollars per square meter in the city center. In areas apart from the city center, the average retail rent was much lower, at **** U.S. dollars per square meter. Ha Noi and Ho Chi Minh City are the two largest cities in Vietnam.

The Vietnam residential real estate industry is a rapidly growing market, with a market size of $25.26 million in 2025 and a projected CAGR of 12.55% from 2025 to 2033. The market is driven by a number of factors, including rising incomes, urbanization, and a growing middle class. The market is also supported by a stable political environment and a strong banking system. Key trends in the Vietnam residential real estate market include a shift towards high-rise developments, an increasing demand for luxury properties, and a growing interest in green buildings. The market is also seeing a rise in the number of foreign investors, who are attracted by the country's strong economic growth and its relatively low property prices. Major cities such as Ho Chi Minh City, Hanoi, and Danang are experiencing the highest demand for residential property, with prices in these areas rising rapidly. Developers are responding to this demand by building more high-rise projects and luxury apartments. Recent developments include: November 2023: Phat Dat Real Estate Development Joint Stock Company and Military Commercial Joint Stock Bank (MB Bank) signed a comprehensive cooperation agreement with the purpose of financial sponsorship for investors and customers. Products at Phat Dat projects. The sponsored project is the Thuan An 1&2 high-rise housing complex with a scale of 4.47 hectares, located in a prime location right in the central area of ​​Thuan An City, connected to many large industrial clusters in Binh Duong. The project has completed its legality with an investment of more than 10,800 billion VND, including apartment products, shophouses, and townhouses., October 2023: Phat Dat's investment project of more than 10,000 billion in Binh Duong has been approved for planning. Phat Dat's investment project of more than 10,000 billion in Binh Duong has been approved for planning.. Key drivers for this market are: 4., Rapid Urbanization and Rising Disposable Income4.; Government Initiatives and Expanding Economy. Potential restraints include: 4., Limited Land Availability4.; Economic Uncertainties. Notable trends are: Rising Government Initiatives and Social Housing Development Policies.

Comprehensive dataset of 144 Property investment companies in Vietnam as of July, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

Vietnam GDP: HCMC: Year to Date: Service: Real Estate Business data was reported at 65,626.000 VND bn in Sep 2018. This records an increase from the previous number of 47,084.000 VND bn for Jun 2018. Vietnam GDP: HCMC: Year to Date: Service: Real Estate Business data is updated quarterly, averaging 26,177.000 VND bn from Sep 2012 (Median) to Sep 2018, with 19 observations. The data reached an all-time high of 77,763.000 VND bn in Dec 2017 and a record low of 12,121.000 VND bn in Jun 2013. Vietnam GDP: HCMC: Year to Date: Service: Real Estate Business data remains active status in CEIC and is reported by Ho Chi Minh City Statistics Office. The data is categorized under Global Database’s Vietnam – Table VN.A029: Gross Domestic Product: Ho Chi Minh City: Quarterly.

Comprehensive dataset of 827 Furnished apartment buildings in Vietnam as of July, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

Vietnam Luxury Residential Real Estate Market Report is Segmented by Property Type (Apartments & Condominiums, and Villas & Landed Houses), by by Business Model (Sales and Rental), by Mode of Sale (Primary and Secondary), by City (Ho Chi Minh City, Hanoi, Da Nang, Nha Trang and Other Cities). The Report Offers Market Size and Forecast Values (USD) for all the Above Segments.

The Vietnam Residential Real Estate Market is Segmented by Property Type (Apartments and Condominiums, and Villas and Landed Houses), by Price Band (Affordable, Mid-Market and Luxury), by Business Model (Sales and Rental), by Mode of Sale (Primary and Secondary), and by Key Cities and Provinces (Ho Chi Minh City, Hanoi, Danang, Hai Phong and More). The Market Forecasts are Provided in Terms of Value (USD)

The Vietnam industrial real estate market is experiencing robust growth, projected to reach a market size of $19.07 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 15.42% from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, Vietnam's burgeoning manufacturing sector, attracting significant Foreign Direct Investment (FDI), necessitates increased warehousing and factory space. Secondly, the growth of e-commerce is driving demand for modern logistics facilities, particularly around major cities like Ho Chi Minh City and Hanoi. Thirdly, government initiatives promoting industrial zone development and infrastructure improvements are further stimulating market activity. The market is segmented by property type (offices, retail, industrial, logistics, multi-family, hospitality) and key cities, with Ho Chi Minh City and Hanoi dominating the market share due to their established infrastructure and proximity to ports. However, other cities like Quang Ninh and Da Nang are emerging as important secondary hubs, attracting investments in specialized industrial zones. While the market faces challenges such as land scarcity in prime locations and potential infrastructure bottlenecks, the overall outlook remains positive, driven by sustained economic growth and increasing foreign investment. Key players include Vingroup, Dat Xanh Group, FLC Group, and several other prominent construction and investment firms. The long-term forecast indicates continued strong growth, albeit possibly at a slightly moderated pace as the market matures and some supply-side constraints are addressed. The competitive landscape is characterized by a mix of large, established developers and smaller, specialized firms. The market is witnessing increasing sophistication in terms of building design, technology adoption (e.g., smart warehousing), and sustainable development practices. Competition is likely to intensify in the coming years, with companies focusing on differentiation through superior location, quality, and tenant services. The increasing emphasis on sustainability and ESG (Environmental, Social, and Governance) factors will shape future investments and development strategies. Opportunities exist for companies offering specialized logistics solutions, modern warehousing facilities, and properties catering to specific industry needs (e.g., technology, pharmaceuticals). Recent developments include: December 2021: Nam Long Group officially signed a strategic partnership agreement with TBS Land, affirming the long-term companionship of the two sustainable corporations in the Vietnamese business community., August 2021: Nam Long will work with its Japanese partner Hankyu Hanshin Properties Corp. to develop the Izumi City project, which has an estimated total investment capital of VND 18,600 billion (USD 814 million). The project is expected to help Nam Long secure its long-term development strategy over the next five or 10 years.. Notable trends are: Growth in Vietnamese E-commerce to Drive the Industrial Real Estate Market.