Vietnam real estate market sees luxury supply dominance and transaction decline

The Vietnamese real estate market is experiencing a significant shift in supply and pricing. In the second quarter of 2026, secondary market apartment prices nationwide showed a downward trend compared to the first quarter, though average listing prices in major cities remain high. In Hanoi, average prices reached approximately 123 million VND/m², while Ho Chi Minh City recorded about 108 million VND/m².

Transaction volumes have declined, with total successful transactions for apartments and individual houses nationwide reaching 26,567, representing 86.1% of the volume seen in Q1 2026. This slowdown is partly attributed to seasonal psychological factors, specifically the traditional lunar July, which often leads to reduced buyer activity.

Supply dynamics show a heavy tilt toward the luxury segment. High-end (Class A) projects continue to dominate new supply, while affordable (Class C) housing remains scarce. Data indicates that Class C primary supply has decreased by an average of 28% annually since 2022 and is expected to account for only 15% of future supply. While luxury supply is expected to remain substantial through late 2026, social housing is projected to see positive growth as various projects begin implementation.