Each week we post a news flash with notable articles related to the real estate market in Vietnam. We asked our team to pick the top stories from the past month and we’ve tallied the results. Check out the headlines that made big news in our office below. Have any of the articles we’ve shared impacted you? Is there any important news we’ve missed? We’d love to hear from you!0.
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Your Friends at Central Vietnam Realty.
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1. Da Nang Reserves Nearly 80 Hectares Of Clean Land Waiting For Technology And Financial ‘Eagles’.
- 2. The Resort Urban Area Worth Nearly 44 Trillion VND In Da Nang Is Expected To Begin Operations In 2029.
- 3. Da Nang City Approved 9 Urban Subdivisions.
- 4. Renting Houses Becomes A ‘Hot’ Keyword As Gen Z Tends To Prefer Renting High-End Properties.
- 5. Real Estate Is The Best Investment Channel In The Last 20 Years And At Least In The Next 10 Years.
6. Challenges Passed, A New Era For The Real Estate Market Is Coming.
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DECEMBER 2024 CENTRAL VIETNAM REAL ESTATE NEWS SUMMARY
1. Da Nang Reserves Nearly 80 Hectares Of Clean Land Waiting For Technology And Financial ‘Eagles’.
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Da Nang has allocated land and introduced tax and infrastructure policies to attract strategic investors, as stated by Vice Chairman Ho Ky Minh at the VTIS 2024 conference. The city offers 6 ha of beachfront land in Son Tra, 9.7 ha near Software Park 2, and plans to expand by 62 ha in the next decade.
Key sectors include semiconductors, AI, finance, tourism, logistics, and IT. Startups and professionals in AI and semiconductors enjoy tax exemptions for five years, with additional support for project selection and training. The city invested 1,400 billion VND in Software Park 2, attracting global companies, with its first building operational in January 2025. By 2050, Da Nang aims to be a regional financial, tech, and tourism hub.
Source: vnexpress.net
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2. The Resort Urban Area Worth Nearly 44 Trillion VND In Da Nang Is Expected To Begin Operations In 2029.
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The Vinpearl-invested Vân Village tourism and resort urban complex in Da Nang is expected to begin operations in 2029, after a 5-year development period. The project, covering over 512 hectares near the Hai Van Pass, will include more than 4,500 villas and townhouses, 2,100 social housing units, as well as commercial areas, schools, parks, and healthcare facilities, supporting a population of around 19,000. The total investment is approximately 44 trillion VND, with nearly 6.6 trillion VND in equity.
The development is planned to be completed in phases, with preparation work in the first two years, followed by construction from 2027 to 2029. Key features include a vibrant port city in the southwest with luxury housing and services, a Caribbean-style tropical beach resort in the southeast, and a range of low-density residential areas linked to eco-tourism. The project aims to become a major eco-tourism destination, blending low-density living with natural conservation.
Da Nang, a key tourist hub in central Vietnam, has seen strong growth in its real estate market, particularly in resort villas, apartments, and land plots. Despite market difficulties last year, property prices in Da Nang have continued to rise, with new apartment prices increasing by 15-20% in the second quarter of the year.
Source: vnexpress.net
3. Da Nang City Approved 9 Urban Subdivisions.
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Da Nang City has approved 9 urban subdivision plans and aims to accelerate urban planning and investment in 2024. These subdivisions include areas such as the Green Core, High-Tech Park, Da Nang Bay, and Innovation Zone.
The city is actively promoting investments in priority sectors like high-tech, IT, AI, and semiconductors. Over 3,370 new businesses have been registered, with a 1.2% rise in returning businesses. By 2025, Da Nang will focus on key infrastructure projects, including highways, waste treatment plants, and urban drainage systems. Efforts are also being made to resolve challenges, enhance public investments, and develop strategic projects for 2026–2030.
Source: nhandan.vn
4. Renting Houses Becomes A ‘Hot’ Keyword As Gen Z Tends To Prefer Renting High-End Properties.
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Dr. Võ Trí Thành highlighted the significant growth in rental housing demand, driven by four key groups: foreigners, Vietnamese seeking suitable living spaces, Gen Z prioritizing flexibility and quality of life, and low-income earners. Gen Z, in particular, is shaping the trend, especially for high-end rentals, due to their increasing affluence and preference for premium living standards.
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From a business perspective, Mr. Lê Đình Chung noted that high-end rental customers, including foreign professionals and wealthy Gen Z individuals, prioritize location, amenities, product quality, and management.
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Additionally, Ms. Đinh Thị Nga emphasized the post-pandemic rise of serviced apartments, which gained popularity due to their ability to operate uninterrupted during lockdowns. These projects are now concentrated in key tourism areas and have become an increasingly attractive segment. Serviced apartments in Hanoi and HCMC have higher occupancy rates (80-89%) than hotels (68-70%) and meet high-end living needs. Limited supply and high demand in Hanoi drive rental prices up by 5% annually. Renting also helps stabilize housing prices, benefiting low-income groups. Economic growth and FDI boost the potential for quality serviced apartments in central urban areas.
Source: cafebiz.vn
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5. Real Estate Is The Best Investment Channel In The Last 20 Years And At Least In The Next 10 Years.
- The real estate market remains a prime investment channel, with potential for growth in the next decade despite challenges. According to Trần Khánh Quang, CEO of Việt An Hòa Real Estate Investment, while new laws effective for five months provide a legal framework, they require time to impact the market. He predicts brighter prospects in 2025 but emphasizes the need for robust financial preparation, market research, and awareness of policies and global economics. CBRE’s Võ Huỳnh Tấn Kiệt sees 2024 as a transitional year, paving the way for sustainable growth. However, a return to the “golden era” of 2018–2019 may take years.
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Source: cafef.vn
6. Challenges Passed, A New Era For The Real Estate Market Is Coming.
The Vietnamese real estate market in 2024 marked a pivotal year, laying the foundation for its development in a new era. Following a period of recovery, Vietnam’s economy experienced stable growth, with positive macroeconomic indicators bolstering investor and consumer confidence.
The first quarter saw a resurgence of real estate brokers and projects, with significant increases in interest, transactions, and prices in both primary and secondary markets. By the second quarter, supply and transactions grew sharply, supported by favorable legal changes, including early enactment of key real estate laws.
By mid-year, regulatory reforms dispelled market hesitation, fueling activity across segments, particularly apartments, which saw rising prices. In the fourth quarter, developers accelerated project launches, offering incentives that pushed housing supply beyond expectations.
Overall, 2024 recorded about 81,000 products offered, a 40% increase from 2023, with successful transactions exceeding 47,000. The market’s absorption rate reached 72%, driven by high demand for both housing and investment purposes.
Housing prices, particularly in premium segments, surged significantly, with Hanoi witnessing a 72.4% increase since 2019. However, supply struggles to meet demand, especially in urban areas needing an additional one million housing units annually.
Experts highlight the need for sustainable and consumer-centric development to maintain a healthy real estate market, emphasizing affordability and balanced growth across all segments.
Source: cafeland.vn
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