Market Report | Q2 2026
TMS Consultancy provides a comprehensive overview of Vietnam’s macroeconomic environment and real estate market performance in the second quarter of 2026—a period marked by sustained macro momentum, robust FDI inflows, and continued recovery across asset classes and locations. The report focuses on key markets including Ho Chi Minh City, Hanoi, and Da Nang, integrating data on pricing, supply, absorption, and capital flows to support informed investment decisions amid rising construction costs and an active legal reform agenda.
Apartment: The apartment market in the three major cities is experiencing different development trends. Ho Chi Minh City continues to maintain high price levels amidst limited new supply, reflecting land scarcity and a shift of supply to neighboring areas. Hanoi is entering a correction phase after a period of strong growth, with high-end supply dominating and demand becoming more cautious due to price pressures. Meanwhile, Da Nang has emerged as a bright spot in the market with a significant increase in new supply, continued price improvements, and growing attractiveness thanks to the simultaneous development of tourism, infrastructure, and large-scale urban projects.
Office: Ho Chi Minh City is entering a new phase of development, driven by the increasing supply of high-quality office space and the establishment of the Vietnam International Financial Center (VIFC). Hanoi continues to maintain a substantial office inventory while witnessing a shift in new supply toward the western part of the city, accompanied by intensifying competition in asset quality and tenant experience. Meanwhile, Da Nang continues to expand its office market, supported by the growth of the information technology and logistics sectors, further strengthened by the launch of Software Park No. 2, which is expected to underpin demand for modern office space in the coming years.
Retail: Retail real estate continued to benefit from resilient domestic consumption, with total retail sales of goods and consumer services reaching the highest level recorded since 2022, up nearly 16% YoY. Retail supply in Ho Chi Minh City and Hanoi remained stable with no new completions during the quarter, while occupancy stayed high, supported by continued expansion from major domestic and international retailers. Vincom Retail, AEON Mall, and Lotte Shopping continued to lead the market, with major developers increasingly pursuing decentralization into satellite provinces such as Hai Phong, Bac Ninh, Binh Duong, and Dong Nai.
Hotel: Vietnam’s hotel market recorded strong operating results, with international arrivals reaching approx. 5.5 million and room rates rising broadly across the country, driven by steady international visitor inflows and the start of the domestic summer travel season. Coastal markets such as Khanh Hoa and Quang Ninh posted the steepest QoQ price increases, benefiting from public holidays, new flight route expansions, and improved infrastructure connectivity.
Beyond asset-class analysis, the report reviews Vietnam’s accelerating real estate M&A market, where investors remained focused on quality assets with clear legal status and sustainable cash flows. The legal update section summarizes four key regulations introduced in Q2/2026, providing greater transparency, stronger project governance, and a more supportive framework for long-term real estate investment.
Learn more by clicking our Vietnam Market Report | Q2 2026
