Vietnam’s Real Estate Sector Continues to Boom

• 2 July 2019
• Local News
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As Vietnam’s economy sees record growth with 6.8% expected in 2019, the real estate sector continues to enjoy an unprecedented boom.

In Ho Chi Minh City alone, around 30,000 condominium units came online at the start of 2019 with mid-range units accounting for 61%, while the high end saw a year-on-year decrease by 10% with 23% of the market supply.

In Hanoi, 20,700 new units came onto the market in the first quarter of 2019 with the mid-range sector accounting for 67% of the total. Market analysts expected a further 30,000 units to come online each year for the next two years.

Local mega-developer Vingroup will add 100,000 units to the market in 2019 with the launch of its Vincity Sportia, aimed at middle income families and promoted as a ‘Singapore-style’ development.

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