Market Report | Q1 2024

TMS Consultancy provides Vietnam’s economic and the benchmark for property market research across apartment, office, retail and hotel sectors in Ho Chi Minh City , Hanoi and Da Nang.

Apartment: No new project supply has been launched in the Hanoi and Ho Chi Minh City. In the Ho Chi Minh City market, sales activities have decreased. In Hanoi, the real estate market for apartments is vibrant, with many successful transactions occurring daily. However, the villa and townhouse segments have not yet shown signs of recovery.

Office: The market is vibrant, with an increase in Grade A supply. Absorption rates and rental prices are rising. The Grade B office market remains stable. There is a trend toward constructing buildings certified with LEED/BCA Green Mark in both Ho Chi Minh City and Hanoi.

Retail: Retail has seen good recovery and growth due to the entry of major players such as Vincom Retail, AEON, Lotte and Thaco.