Vietnam real estate market faces rising inventory and low liquidity

The Vietnamese real estate market is experiencing a period of adjustment characterized by declining liquidity and rising inventory. According to data from the Ministry of Construction and the Ho Chi Minh City Real Estate Association (HoREA), total successful transactions in the third quarter of 2026 fell by 8% compared to the second quarter.

Inventory levels have seen significant increases across several segments. Land plots saw a 75.3% rise in inventory, while apartment units increased by 19.5% and individual houses by 11.6%. Total reported inventory in projects reached approximately 51,950 units and plots.

Experts, including economist Ngô Trí Long, note a paradox where transaction volumes are dropping but selling prices remain high. This is attributed to high input costs, including land, legal procedures, and infrastructure. While some primary market prices have shown downward trends, the lack of affordable housing supply remains a critical issue for buyers with limited purchasing power.