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Commercial Real Estate Market in Vietnam Market Size (2024 - 2029)

The market size of Vietnam's industrial real estate sector is poised for significant growth over the forecast period, driven by a positive economic outlook and strategic government initiatives. Despite the temporary setbacks caused by the COVID-19 pandemic, the market is expected to rebound, supported by enhanced infrastructure and public investment. The country's favorable laws for foreign investment and the rising local demand from entrepreneurs further contribute to the expansion of high-end real estate developments. Additionally, the focus on improving infrastructure to support the tourism industry has spurred growth in tourist cities, indicating a robust trajectory for the market.

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Market Size of Commercial Real Estate Industry in Vietnam

Commercial Real Estate Market Summary in Vietnam
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 19.07 Billion
Market Size (2029) USD 39.05 Billion
CAGR (2024 - 2029) 15.42 %
Market Concentration Medium

Major Players

Commercial Real Estate Market Major Players in Vietnam

*Disclaimer: Major Players sorted in no particular order

Vietnam Commercial Real Estate Market Analysis

The Commercial Real Estate Market in Vietnam Market size is estimated at USD 19.07 billion in 2024, and is expected to reach USD 39.05 billion by 2029, growing at a CAGR of 15.42% during the forecast period (2024-2029).

The COVID-19 pandemic caused a slowdown in the Vietnamese property market. However, many companies believe this is only temporary and hoping for a rebound once the virus is under control. Meanwhile, the government has identified public investment as a key solution to boost growth. A better infrastructure system could be seen as welcoming news for the real estate market for further development in the coming years.

Despite the signs of cyclical moderation in growth, Vietnam's economic outlook remains positive. Vietnam's economy saw strong growth, with laws that made foreigners invest in its development. As a result, there has been a surge in high-end real estate developments in the country.

The improvement in infrastructure supporting the tourism industry, which has always been one of the prioritized investment areas by Vietnam, has boosted the growth of many tourist cities in recent years. Local demand in Vietnam is also rising as Vietnamese entrepreneurs are looking for investment opportunities.

Vietnam Commercial Real Estate Industry Segmentation

Commercial real estate is a property used exclusively for business-related purposes or to provide a workspace rather than a living space, which would instead constitute the residential real estate. Commercial real estate is often leased to tenants to conduct income-generating activities. In general, it includes buildings used for commercial purposes, such as office buildings, warehouses, and retail buildings (e.g., convenience stores, big-box stores, and shopping malls). This report aims to provide a detailed analysis of the Vietnamese commercial real estate market. It focuses on the market dynamics, technological trends, insights, government initiatives in the commercial real estate sector, and COVID-19 impact on the market. Also, it analyzes the key players in the market and the competitive landscape.

The commercial real estate market in Vietnam is segmented by type and key cities. The report offers market size and forecast for Vietnam's commercial real estate market in value (USD billion) for the above segments.

By Type
Offices
Retail
Industrial
Logistics
Multi-family
Hospitality
By Key Cities
Ho Chi Minh City
Hanoi
Quang Ninh
Da Nang
Rest of Vietnam
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Commercial Real Estate Market in Vietnam Size Summary

The industrial real estate market in Vietnam is poised for significant growth, driven by a combination of government initiatives, infrastructure improvements, and a robust economic outlook. Despite the temporary slowdown caused by the COVID-19 pandemic, the market is expected to rebound, supported by public investment and enhanced infrastructure. The Vietnamese economy has been bolstered by foreign investment-friendly laws, leading to a surge in high-end real estate developments. The tourism sector, a key focus for investment, has seen infrastructure improvements that have spurred growth in tourist cities. Additionally, the rising local demand, fueled by the burgeoning e-commerce sector, is creating new opportunities in industrial real estate, particularly in logistics and express delivery services.

The demand for industrial park real estate is on the rise, with investors seeking larger land areas for development. The market is also witnessing an increase in demand for cold storage facilities, essential for medical services like vaccine storage. Coworking spaces are gaining popularity among startups and small corporations, attracting both domestic and international firms. The commercial real estate sector, including office and retail spaces, is experiencing stable rental rates and a steady influx of international investors. The hospitality sector is seeing a need for diversification and professional management, with a focus on quality office and retail spaces in central locations. Key players in the market include Vin Group, Dat Xanh Group, and FLC Group, among others, who are actively engaging in strategic partnerships and large-scale projects to secure their market positions.

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Commercial Real Estate Market in Vietnam Market Size - Table of Contents

  1. 1. Market Insights

    1. 1.1 Current Economic Scenario and Consumer Sentiment

    2. 1.2 Commercial Real Estate Buying Trends - Socioeconomic and Demographic Insights

    3. 1.3 Government Initiatives, Regulatory Aspects for Commercial Real Estate Sector

    4. 1.4 Insights on Existing and Upcoming Projects

    5. 1.5 Insights on Interest Rate Regime for General Economy and Real Estate Lending

    6. 1.6 Insights on Rental Yields in Commercial Real Estate Segment

    7. 1.7 Insights on Capital Market Penetration and REIT Presence in Commercial Real Estate

    8. 1.8 Insights on Public-private Partnerships in Commercial Real Estate

    9. 1.9 Insights on Real Estate Tech and Start-ups Active in Real Estate Segment (Broking, Social Media, Facility Management, Property Management)

    10. 1.10 Impact of COVID-19 on the Market

    11. 1.11 Market Dynamics

      1. 1.11.1 Drivers

      2. 1.11.2 Restraints

      3. 1.11.3 Opportunities

  2. 2. Market Segmentation

    1. 2.1 By Type

      1. 2.1.1 Offices

      2. 2.1.2 Retail

      3. 2.1.3 Industrial

      4. 2.1.4 Logistics

      5. 2.1.5 Multi-family

      6. 2.1.6 Hospitality

    2. 2.2 By Key Cities

      1. 2.2.1 Ho Chi Minh City

      2. 2.2.2 Hanoi

      3. 2.2.3 Quang Ninh

      4. 2.2.4 Da Nang

      5. 2.2.5 Rest of Vietnam

Commercial Real Estate Market in Vietnam Market Size FAQs

The Vietnam Commercial Real Estate Market size is expected to reach USD 19.07 billion in 2024 and grow at a CAGR of 15.42% to reach USD 39.05 billion by 2029.

In 2024, the Vietnam Commercial Real Estate Market size is expected to reach USD 19.07 billion.

Industrial Real Estate Market in Vietnam Report Snapshots

Vietnam Industrial Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)