According to experts, in the coming time, the development structure will change from ground space to underground space, digital space, etc., which will open up growth opportunities for the real estate market.
In the context of new fundamental laws (especially the Land Law, Housing Law, and Real Estate Business Law) taking effect from 2024, gradually "permeating" into life, along with the rapid implementation of apparatus reform in the direction of "doing it for real, doing it right away, and comprehensively," many experts believe that the Vietnamese real estate market in 2025 will have positive changes.
In particular, the upcoming development structure will change from ground space to underground space, sea space, digital space (especially the TOD model which is being focused on in the transport infrastructure development strategy) which will open up new growth space for the real estate market and the economy.
Opportunity to stimulate growth
Sharing at the "5th Spring Real Estate Forum" organized by Vietnam Real Estate Electronic Magazine in collaboration with the Vietnam Real Estate Research Institute (VIRES), on the morning of February 19, Associate Professor - Doctor Tran Dinh Thien (member of the Prime Minister's Economic Advisory Group, former Director of the Vietnam Economic Institute) emphasized the Government's efforts in 2024 such as putting 3 important laws (Land Law, Real Estate Business Law, Housing Law) into practice 5 months earlier, which is considered a drastic solution to remove the biggest bottleneck of the economy at the present time.
According to experts, before the Lunar New Year of At Ty in 2025, the demand for real estate decreased significantly, however, in just the first week after Tet, the search index for buying apartments and real estate increased again.
Along with that, the new land price framework in some areas has also been adjusted towards approaching market prices, affecting input costs of businesses, product selling prices and financial obligations of people when transacting real estate.
In particular, investment in transport infrastructure, especially highways and high-speed railways, is being boosted, opening up development opportunities for many regions, changing investment thinking and leading to a shift in capital flows to emerging markets.
In that shifting trend, Mr. Thien commented that in the coming time, the development structure will change from ground space to underground space, sea space, space, digital space,...
According to Mr. Thien, the above trend will open up growth opportunities for the real estate market, however, the important thing is the capacity to implement and deploy it.
Dr. Can Van Luc, member of the National Financial and Monetary Policy Advisory Council, said that factors affecting the real estate market include: Macroeconomics; legal and management supervision; planning, urbanization and infrastructure policy; finance; supply - demand, price and trust; information, data, transparency.
Accordingly, in recent times, the main drivers that have helped the real estate market recover include: The world economic growth has basically been flat, while Vietnam's economy in 2024 - 2025 has grown quite high, creating a premise to enter a new era; the macro economy remains stable, inflation increases under control; interest rates in Vietnam remain low; exchange rates and bad debt increase under control.
Along with that, the institutional breakthrough has never been so rapid: new laws have been amended and officially promulgated as in the past; the organizational apparatus has been streamlined; planning at all levels has been issued; public investment and infrastructure policies have been promoted; financial obligations have passed the most difficult period; interest rates have been maintained at a low level, creating favorable conditions for businesses and people to access capital...
Challenges to consider
However, Dr. Can Van Luc also noted that besides the above opportunities, the real estate market in 2025 also faces a number of challenges and obstacles.
For example, housing prices are still high due to many reasons; land use fee calculation is stuck in many localities and projects; some localities have not announced new land price lists; the issuance of documents guiding new laws and new resolutions related to land, housing, and the real estate market is still slow.
There are still problems in site clearance, especially when investors have to negotiate with the people for small and medium-sized projects. There are still shortcomings in the auction of land use fees (starting price, capacity of auction participants, sanctions...). There are still shortcomings in the way social housing is built, and capital sources for social housing still need attention.
Representatives of the Vietnam Real Estate Association also acknowledged that the Vietnamese real estate market in 2025 is forecast to have many development opportunities but there are still many challenges to overcome. In fact, although new fundamental laws have come into effect since 2024, creating a new legal environment for the market, the level of effectiveness still needs more time to be verified.
In addition, businesses are still concerned about the overlap and inconsistency in regulations related to land, construction and investment, which may pose risks to project developers. In addition, according to the Vietnam Real Estate Association, bank interest rates and access to capital are also issues that need further solutions to help the market operate effectively in the new development cycle.
Associate Professor, Dr. Tran Dinh Thien, former Director of the Vietnam Economic Institute, also expressed his view that in the context of the volatile world situation, realizing ambitious growth goals, including the real estate market, requires strong political determination, flexible policies and the support of businesses to create a solid foundation for an era of outstanding development.
“I think that when facing a new space of opportunity, the risks that may occur to real estate businesses need to be carefully considered. Perhaps, we still have a lot to discuss to create momentum for the real estate market to rise,” Mr. Thien said./.
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