Vietnamese Services

Real Estate

There has been a significant growth of the real estate market in Vietnam in recent years due to a number of contributing factors such as significant growth of GDP, a low inflation rate and new legislation permitting foreigners to purchase real estate.

Stablewood Financial provides assistance in purchasing and renting real estate in Vietnam.

In 2014, there was a total of $20 billion USD’s worth of foreign investment made in Vietnam.

A staggering 50% of that foreign investment was in the real estate sector.

Vietnam Economic Performance in 2025: GDP, FDI, and Trade

Published by Vietnam Briefing on January 22th 2026.

Vietnam’s economy demonstrated a robust performance in 2025, achieving 8 percent GDP growth, maintaining resilient FDI, keeping inflation stable, and expanding trade. 

Vietnam’s GDP growth performance

Vietnam’s General Statistics Office (GSO) estimates that the country’s GDP grew by 8.02 percent in 2025, despite the negative effects of a tough global market and multiple natural disasters.

The GDP in 2025 is projected to be nearly VND12.85 quadrillion (about US$514 billion), reflecting an increase of roughly US$38 billion from 2024. Vietnam’s GDP per capita has risen to VND125.5 million (about US$5,026), up US$326 from 2024.

Positive growth across all three main sectors contributed to Vietnam’s robust GDP growth in 2025. The industry and construction sector is the fastest growing, with an 8.95 percent rise, while the service sector remains the main driver of overall growth, accounting for 51.08 percent.

Inflation

According to the General Statistics Office (GSO), Vietnam’s consumer price index (CPI) increased by 3.31 percent in 2025, meeting the inflation control target set by the National Assembly. Price pressures were driven primarily by housing-related costs, food services, healthcare, and education.

Meanwhile, core inflation increased 3.27 percent year-on-year in December and averaged 3.21 percent in 2025, remaining below headline CPI growth. This reflects the exclusion of volatile items such as food, energy, healthcare, and education services from the core inflation basket.

Credit growth

As of December 24, 2025, total outstanding credit to the economy exceeded VND 18.4 quadrillion (US$ 670 billion), up 17.87 percent compared to the end of 2024. According to Dragon Capital, Vietnam’s monetary policy in 2025 has remained accommodative yet disciplined. The fund management group notes that the SBV has successfully maintained system liquidity to support infrastructure development and private investment, while carefully calibrating policy to balance interest rate conditions with exchange rate stability.

Foreign direct investment

Foreign direct investment (FDI) inflows into Vietnam remained resilient in 2025, with newly registered capital exceeding US$38.4 billion, up 0.5 percent year on year, according to the GSO. The figures were released at the press conference announcing Vietnam’s socio-economic performance for the fourth quarter and full year 2025.

Disbursed FDI was estimated at US$27.6 billion, a 9 percent increase from 2024 and the highest level in the past five years, underscoring sustained investor confidence despite global uncertainties.

New and adjusted investment trends

During 2025, Vietnam licensed 4,054 new FDI projects with a total registered capital of US$17.3 billion. While the number of newly approved projects rose sharply by 20.1 percent year on year, registered capital declined by 12.2 percent, reflecting a trend toward smaller-sized projects.

• Manufacturing and processing continued to attract the largest share of new FDI, receiving US$9.8 billion, or 56.5 percent of newly registered capital.
• Real estate followed with nearly US$3.7 billion, accounting for 21.2 percent.
• Other sectors together attracted US$3.85 billion, or 22.2 percent.

In addition, 1,404 existing projects were approved for capital adjustments, adding US$14.1 billion, up 0.8 percent year on year. Combined newly registered and adjusted capital in manufacturing and processing reached US$18.6 billion, equivalent to 59.2 percent of the total, reaffirming the sector’s central role in Vietnam’s FDI landscape.

Capital contributions and investor origins

Foreign investors also remained active through capital contributions and share purchases. In 2025, Vietnam recorded 3,587 such transactions with a total value exceeding US$7 billion, up 54.8 percent from the previous year. Manufacturing and processing led these transactions, followed by professional, scientific, and technological activities.

Among 90 countries and territories investing in newly licensed projects, Singapore emerged as the largest investor, followed by China, Hong Kong (China), Japan, and Sweden, highlighting the continued dominance of Asian investors alongside growing European participation.

Trade performance

Vietnam’s total trade value exceeded US$930 billion in 2025, marking an 18.2 percent year-on-year increase, according to the GSO. The country recorded a trade surplus of approximately US$20 billion, reflecting strong export momentum alongside rising import demand.

The GSO observed a continued gap between the domestic and foreign-invested sectors, specifically:

• The domestic sector recorded a trade deficit of US$29.4 billion.
• The foreign-invested sector, including crude oil, posted a surplus of nearly US$49.5 billion, highlighting its dominant role in Vietnam’s external trade.

Export trends

Exports reached US$475 billion in 2025, up 17 percent year on year. In December alone, exports rose to US$44 billion, increasing 12.6 percent month on month, supported by both domestic and foreign-invested enterprises.

Vietnam’s export structure in 2025 by enterprise type:

• Foreign-invested enterprises (FIEs) accounted for 77.3 percent of total exports, with shipments valued at US$367.1 billion, up 26.1 percent year on year.
• Domestic enterprises exported US$108 billion, down 6.1 percent, representing 22.7 percent of total export turnover.

Vietnam’s export structure in 2025 by sector:

• Processed industrial products remained the backbone of export growth, generating US$421.5 billion, or 88.7 percent of total exports.
• Agricultural and forestry products contributed US$39.5 billion.
• Seafood exports reached US$11.3 billion.
• Fuels and minerals accounted for US$2.8 billion.

Import dynamics

By enterprise type:

• Foreign-invested enterprises (FIEs) drove import growth, with import turnover increasing 31.9 percent to US$317.6 billion.
• Domestic enterprises imported US$137.4 billion, down 2 percent year on year.

By import composition:

• Production inputs dominated the import structure, accounting for 93.6 percent of total imports.
• Machinery, equipment, and spare parts represented 52.7 percent of total imports.
• Raw materials and fuels accounted for 40.9 percent.
• Consumer goods imports remained limited at US$28.9 billion, or 6.4 percent of total imports.

Major trade partners and balances

Vietnam’s trade balance in 2025 continued to reflect strong export performance alongside structural import dependence:

• United States: Vietnam’s largest export market, with export turnover of US$153.2 billion and a trade surplus of US$134 billion.
• European Union: A key surplus market, with Vietnam recording a trade surplus of US$38.6 billion.
• China: Vietnam’s largest source of imports, with import turnover of US$186 billion and a widening trade deficit of US$115.6 billion.
• South Korea: Trade deficit expanded to US$31.6 billion, reflecting continued reliance on Korean inputs and components.
• ASEAN: Trade deficit widened to US$14.2 billion, highlighting persistent intra-regional import dependence.

Takeaway

Vietnam’s 2025 performance highlights robust growth driven by stable macroeconomic policies. Strong GDP growth, controlled inflation, increasing credit, and record FDI inflows indicate ongoing investor confidence, especially in manufacturing and export-focused sectors.

While trade remains a primary growth driver, expanding deficits with regional suppliers emphasize the need to strengthen domestic supply chains as Vietnam further integrates into global value networks.

This article was first published November 11, 2025, and was last updated January 22, 2026.

Sunrise on the beach: Vietnam’s vibrant property market

Published by Tranio on April 18th 2017

Vietnam’s rapidly emerging economy is a bedrock for growth in its major real estate markets, especially Ho Chi Minh City

Riding in on the world’s new wave of emerging and growth-leading economies, Vietnam and its major cities have become major magnets for foreign funds. This report from Tranio.com surveys the Vietnamese economy, its national real estate market and its most vibrant local market in Ho Chi Minh City.

The Vietnamese economy

Vietnam has undergone remarkable growth and development over the past 30 years. The launch of the Đổi Mới Policy in 1986 transformed the country from one of the world’s poorest to an emerging middle-income country. Favourable demographics, a burgeoning middle class and continued industrialisation and urbanisation have spurred strong economic growth, making Vietnam one of the fastest growing countries in Southeast Asia. Averaging a 6.2% GDP growth rate since 2000, according to Trading Economics, Vietnam comes close to rivaling China’s level of growth. In many ways similar to China, Vietnam is governed by a communist government that has gradually opened itself up to foreign investments.

The Vietnamese real estate market

In July 2015, the Housing Law and the Law on Real Estate Business, whereby foreign property investors could purchase and legally own residential property in Vietnam, came into effect. The types of property available to foreigners include apartments, villas and townhouses as long as they are parts of development projects. Foreigners, like locals, can enjoy rights to lease, trade, inherit and collate their properties. Among the major taxes and fees associated with real estate investment in Vietnam are a registration tax (0.5%), a value-added tax (10%), an income tax on transfer of property (25% on capital gains or 2% of the transaction value) and notary fees of up to nearly USD 460. the income tax is based on rental income and consists of a personal income tax (5%) and a value-added tax (5%).

The laws are also expected to spur growth in the commercial and industrial sectors as foreign companies and representative offices are now eligible to purchase new and existing properties, provided that the properties are purchased for business purposes. The regulatory changes helped to stimulate investor interest and drive the real estate market, making Vietnam one of the most attractive destinations in the region.

The Ho Chi Minh City market

Being the economic centre and the most populous city in Vietnam, Ho Chi Minh City (HCMC) has particularly benefitted from the massive expansion of the real estate market. HCMC is a new market and is currently at the start of an upward trend in the real estate industry lifecycle. In 2015, the Urban Land Institute and PwC ranked the city fifth in terms of favourable investment prospects in the Asia-Pacific region, after Tokyo, Sydney, Melbourne and Osaka.

HCMC is the second-most popular market in Asia for investment in residential apartments, according to the Urban Land Institute. The residential sector accounts for about 85% of the real estate market. Nevertheless, the residential property market has not been well-developed over the years and the current supply is not sufficient to meet growing demand from the local population and foreigner investors. As such, the residential property market has been on an upward trend in recent years, with new property launches, good sales performance and increasing primary sale prices.

According to JLL, HCMC had about 80,000 apartment units in 2016, where affordable, mid-range and premium apartments constituted about 43%, 42% and 15% of the stock, respectively. The residential property market continues to expand to the south and the east. The east has become attractive due to infrastructure improvements, such as Metro Line 1, the HCMC-Long Thanh-Dau Giay Expressway, the Hanoi Highway extension and the approved Long Thanh airport project.

Thus far, foreign investors’ greatest interest lies in the premium apartment segment in District 1 (the city centre) and District 2, where many expats and wealthy Vietnamese reside as well as in properties along Metro Line 1. In 2016, a total of 2,700 premium apartment units were opened to the market, which was the highest number recorded in the past 10 years. Some 98% of the newly launched apartments were located in District 1. Similar premium and luxury projects are being launched in districts adjacent to District 1. The premium and luxury condominium developments as well as lower interest rates, have stimulated renewed interest in property investment in HCMC.

Expectations for the HCMC market

The premium and luxury apartment segment is expected to maintain its high absorption level above 50%, considering its small size compared to other segments. The segment is still attractive to foreigners and affluent locals as prices for luxury projects in HCMC are still relatively low compared to other cities in Southeast Asia. This segment is expected to introduce more unique offerings in 2017 and beyond to attract high net worth investors. Thus, the stock of premium apartments priced above USD 2,000 per sq m is expected to double within the next three years.

At the same time, the number of affordable housing units worth less than USD 45,000 fails to meet demand in HCMC. According to the World Bank, with the current urbanisation trend in the country, the urban population is expected to reach around 50% by 2040, creating demand for approximately 374,000 additional units in cities every year. To address the issue, the Government is seeking ways to encourage developers to undertake more affordable housing projects. Some developers have expressed interest towards the affordable housing segment to meet less-tapped demand and resolve the shortage problem to some extent. In the next three years the residential supply is expected to grow by 74%. Nevertheless, the market is expected to absorb the increase as the stock of apartments is low relative to the city’s population.

In addition, more apartments are likely to be built along Metro Line 1, which is scheduled to be completed by 2020. The construction of Metro Line 1 in HCMC commenced on 28 August 2012. Covering 19.6 kilometres, Metro Line 1 will consist of 14 stations and run across Districts 1, 2, 9, Binh Thanh and Thu Duc. When it begins operating in 2020, Metro Line 1 will enhance the accessibility of housing developments, making properties located along its route even more attractive.

Key takeaways

Property prices in HCMC are still relatively low compared to those in other major Southeast Asian cities. According to the Japan Real Estate Institute, the prices of newly built premium residential projects in HCMC are still much cheaper than their counterparts in cities such as Jakarta, Kuala Lumpur and Bangkok. Investors can expect a gross rental yield of 6-8% and favourable capital gains in the medium and long term. The general affordability of premium and luxury residential projects that creates lower financial risks, coupled with favourable capital upsides, makes HCMC a competitive investment destination.

As an emerging market, Vietnam presents substantial growth potential. The country’s economic growth, a burgeoning middle class and urbanisation remain the important drivers for the expansion of the real estate market. Ho Chi Minh City is on track to becoming a major business centre and vibrant metropolis of Southeast Asia and the demand for property in the city will remain strong.

Diana Ablyakimova, Tranio.com