The Vietnamese real estate market is experiencing a significant recovery post-Tet, with indications of heightened interest and activity observed within just one week after the holiday. According to data reported by Batdongsan.com.vn, the demand for property soared, showing up to six times the search activity compared to the period before Tet, marking a strong resurgence.
On February 6, 2025 (the 9th day of Tet), the interest levels for real estate surged substantially, as the listings of properties for sale and rent climbed dramatically. Notably, these listings on Batdongsan.com.vn were approximately four times higher than during the week prior to Tet. This revival is being felt across major cities, including Hanoi and Ho Chi Minh City, particularly within popular sectors such as land lots and apartments. While demand remains stable, the rental market continues to be buoyed by interest from students, laborers, and foreign professionals.
During this recovery phase, specific regions within Hanoi and Ho Chi Minh City emerged as focal points for buyer inquiries. Buyers are primarily interested in apartments located in districts such as Nam Tu Liem and Ha Dong. Similarly, interest for suburban land lots is noted at Long Bien and Hoai Duc, driven by investment appeal and lower costs. The rental segment shows high demand for apartments in Cau Giay and Nam Tu Liem, whereas private homes tend to attract interest primarily from those searching within populous districts like Dong Da and Hoang Mai.
The positive outlook is not limited to just individual buyers; businesses are also ramping up their activities. January 2025 saw the registration of 273 new real estate enterprises, reflecting a 65% increase compared to the previous year, with 974 firms also returning to the market, marking an increase of 51%. These numbers are indicative of improved market sentiment, with participants gearing up for fresh opportunities.
Mr. Đinh Minh Tuấn, the Southern Region Director at Batdongsan.com.vn, commented on the positive momentum, stating, "After Tet, the average listing price for apartments has shown signs of stabilizing, which could signal potential affordability for buyers going forward." He emphasized the need for additional market stimuli to optimize liquidity, pushing for diversified initiatives to engage potential buyers.
Despite the market's current vibrancy, some economic analysts are cautious. They warn of underlying issues like fluctuated material prices and the cyclical nature of real estate investments. This creates uncertainty for prospective buyers, encouraging them to hold off their decisions as they await more abundant supply after the holidays.
Meanwhile, on the national level, urban development plans are being reinforced—notably, the government's focus on enhancing infrastructure, which is pivotal for real estate prospects. Existing governmental policies aim to revamp satellite towns, easing the population pressure from urban centers, and making surrounding provinces appealing for investments.
Investment trends show individual investors diversifying their portfolios, shifting their focus away from city centers, which have seen record-high property prices. Many are considering suburban alternatives, such as land lots and new urban projects, where prices are still reasonable but growth potential is projected to be significant.
Conversely, the construction of large-scale projects and visionary retail complexes also gains traction as they promise enhanced amenities. Projects like Vinhomes Ocean Park and Ecopark are leading this charge, showcasing the multifaceted growth enveloping neighboring markets.
Mr. Vương Duy Dũng from the Department of Housing Management also echoes optimistic forecasts for the year 2025, highlighting the forthcoming opportunities stemming from the new legal frameworks expected to alleviate many of the constraints hampering real estate projects. He noted, "This year will bring many opportunities thanks to new laws and policies aimed at expediting project implementations, giving rise to fresh supply to the market."
Though the real estate sector is on the rebound, industry experts urge caution before extensive investments. Awareness of potential legal hurdles and the ever-fluctuating market conditions remains pivotal for both individual and institutional investors.
The thriving market post-Tet reflects only the beginning of what many anticipate to be sustained momentum through 2025, particularly with projected regulatory improvements and investor interest shifting back to sustainability in property investments.