(Dan Tri) - Experts believe that the real estate market will be more stable this year. In particular, real estate in suburban areas will become more attractive to investors.
"Taking the pulse" of the real estate market in 2025
In 2024, the real estate market recorded strong growth in the apartment segment. Notably, in Hanoi, according to a report by a research unit, the supply of newly opened apartments reached the highest level since 2020, exceeding 30,900 units, 3 times higher than the same period.
As of the fourth quarter of 2024, the selling price of apartments in Hanoi reached VND 72 million/m2 (excluding VAT and maintenance costs), an increase of 36% over the same period last year and 12% over the previous quarter.
According to the Vietnam Association of Realtors (VARS), the market in 2024 will still face many challenges. Specifically, the market recovery will still have clear differentiation between segments, regions, product types and even between suppliers. This unit predicts that in 2025, the "heat" of the market will gradually spread more evenly between regions and real estate segments.
Giving a scenario for this year's real estate market, Mr. Vu Cuong Quyet - General Director of Dat Xanh Mien Bac Real Estate and Services Joint Stock Company - said that the Hanoi market will not have too many sudden changes due to the strong increase in 2024.
The market in the northern provinces near Hanoi in 2024 will also start to increase but not much, with good liquidity. Projects in the provinces near Hanoi and the northern region are quite reasonably priced.
The Southern market is also a good investment in 2025 due to strong investment in infrastructure. From 2025-2026, when the infrastructure is put into operation, this market will have a rebound.
"Overall, the market will stabilize this year. Too many price increases and decreases are not good. The economy is stable, with a GDP growth target of 8%, so the real estate market will also benefit. The provincial markets will have better resilience," he said.
A plot of land in the suburbs of Hanoi (Photo: Tuan Minh).
Sharing the same view, Ms. Huynh Thi Kim Thanh - Manager of Savills Vietnam Investment Consulting Department - said that this year, the real estate market is expected to become more vibrant than in 2024, thanks to the improvement in supply in many segments. Residential real estate in the suburbs and satellite cities near Hanoi and Ho Chi Minh City is becoming increasingly attractive thanks to the development of transport infrastructure.
According to Mr. Nguyen Anh Que - Chairman of G6 Group, the real estate market will have a short period of excitement after Tet but will quickly slow down to wait for new policies as well as the economic and political situation at home and abroad. If the economy is stable, the real estate market will develop in a more sustainable direction, without the shocking price increases like the apartments in the past year.
Which real estate segment is the bright spot of the market?
Mr. Vu Cuong Quyet said that in 2024, the increase in apartment prices in Ho Chi Minh City and Hanoi is not entirely due to real housing demand, 50-60% is investment. The advantage of investing in apartments is that in addition to housing, it also brings in a fairly sustainable cash flow from rental. This year, investors will not only invest in Hanoi but also in industrial provinces.
The social housing segment is also expected to grow this year (Illustration: Tran Khang).
Regarding the real estate segment, this year, people have high expectations that social housing in Ho Chi Minh City, Hanoi and other provinces will develop to satisfy demand. In addition, this year, land will be a good investment segment. Last year, apartment prices increased sharply, even per square meter of apartments was higher than land in the surrounding area. Therefore, land will be a good choice this year.
The resort real estate segment in 2024 began to recover but there was no clear change. In the resort markets, Da Nang recovered quite well. In 2025, this segment is forecasted to begin to stabilize to return to the market in the period 2025-2026. In general, the real estate market segments in 2025 will be more stable, better, without sudden price fluctuations.
Sharing about this issue, Ms. Huynh Thi Kim Thanh said that in 2025, industrial park real estate and the commercial, office and retail segments are expected to be the bright spots. For industrial park real estate, Vietnam's stable economy along with the constantly increasing FDI capital flow has created a strong attraction.
At the same time, the trend of shifting global supply chains to reduce risks from trade conflicts, such as between the US and China, further promotes the development of this segment. Increasingly well-invested industrial park infrastructure is also a factor contributing to maintaining growth momentum.
Meanwhile, office and retail real estate also show great potential thanks to the scarcity of land in the central area. Economic recovery, increased consumption, and well-controlled inflationary pressures are important factors supporting this segment. Real estate products in central locations, with modern designs and meeting new consumer trends, are expected to continue to record high performance and stable added value.
Agreeing with the above opinions, Mr. Nguyen Anh Que said that the real estate cycle from 2025 to 2030 will focus on social housing. Land will be a bright spot from 2025 to 2027, but will no longer occupy the "king" position as in the previous period.
"There are two reasons why land is no longer as hot as in 2022. First, in urban areas of type 3 or higher, construction must be completed before being sold, causing investment costs to increase. Second, the procedure for dividing land plots becomes more difficult. However, land plots will still be more attractive than other segments," he emphasized.
In addition, he believes that the resort real estate segment will be bustling from the end of 2026 to 2028, especially in Phu Quoc and Da Nang. Phu Quoc has the advantage of early tourism recovery, with international visitors currently accounting for 80% of total visitors. The city was also chosen as the venue for APEC 2027 and has been recognized as a class 1 city. This will be a big driving force for resort real estate in this area.
Source: https://dantri.com.vn/bat-dong-san/sau-chung-cu-phan-khuc-bat-dong-san-nao-dan-song-thi-truong-nam-nay-20250124151913381.htm
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