| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 3.64 Billion |
| Market Size (2029) | USD 6.89 Billion |
| CAGR (2024 - 2029) | 13.65 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vietnam Luxury Residential Real Estate Market Analysis
The Vietnam Luxury Residential Real Estate Market size in terms of transaction value is expected to grow from USD 3.64 billion in 2024 to USD 6.89 billion by 2029, at a CAGR of 13.65% during the forecast period (2024-2029).
Vietnam's luxury residential real estate market is experiencing significant growth, driven by the nation's expanding economy and increasing urbanization. Cities such as Ho Chi Minh City and Hanoi are becoming key locations for luxury developments, attracting wealthy domestic buyers and international investors. The rise in high-net-worth individuals (HNWIs) in Vietnam, one of Asia's fastest-growing markets for HNWIs, is a major factor in this trend. In 2023, the number of HNWIs in Vietnam grew by over 9%, highlighting their critical role in driving demand for high-end residential properties.
This expanding market has garnered global attention, with international developers making substantial investments in Vietnam's luxury housing sector. For instance, CapitaLand announced a USD 500 million luxury residential project in Ho Chi Minh City in April 2024, targeting affluent buyers. Furthermore, branded residences are emerging as a prominent trend, combining luxury living with the prestige of renowned hotel brands. In September 2024, Marriott International partnered with a local developer to launch a premium residential project in Hanoi, offering world-class amenities tailored to the ultra-luxury segment.
The Vietnamese government has actively supported this market through favorable policies. Amendments to the Housing Law in 2024 have simplified property ownership processes for foreign investors, enhancing Vietnam's attractiveness as a destination for luxury real estate investments. The combination of rising affluence, international interest, and supportive regulations has positioned Vietnam as a leading hub for luxury residential developments in Southeast Asia.
Vietnam Luxury Residential Real Estate Industry Segmentation
Prime location, high-end interior finishes such as marble countertops, professional-quality kitchen appliances, customized closets, and hotel-like amenities such as concierge services, a top-of-the-line fitness center, and a spa center are often staples of a luxury building.
Vietnam's luxury residential real estate market is segmented by type (apartments and condominiums, villas, and landed houses) and by cities (Ho Chi Minh City, Hanoi, and other cities). The report offers market size and forecasts in USD for all the above segments.
By Type
| Apartments and Condominiums |
| Villas and Landed Houses |
By City
| Ho Chi Minh City |
| Ha Noi |
| Other Cities |
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Vietnam Luxury Residential Real Estate Market Size Summary
The Vietnam luxury residential real estate market is experiencing significant growth, driven by increasing affluence and a rising demand for upscale properties. The market is becoming a hotspot in Southeast Asia, with Ho Chi Minh City witnessing rapid price increases. Despite challenges during the COVID-19 pandemic, such as decreased foreign buyer activity and a temporary market stall, the sector has shown resilience. The demand for luxury apartments is bolstered by the influx of wealthy international investors and a burgeoning middle and upper class. Vietnam's favorable economic conditions and recent legal changes facilitating foreign property ownership have further attracted global investors, making it an appealing destination compared to neighboring countries with higher property prices.
The market is characterized by a mix of local and international players, with key companies like SonKim Land, Dat Xanh Group, FLC Group, Vingroup, and CapitaLand actively participating. These players are employing strategies such as partnerships and acquisitions to expand their market presence. The development of urban branded residences, particularly in areas like District 1 and Thu Duc City, is meeting the demands of high-net-worth individuals seeking luxury living with premium amenities. As the affluent population in Vietnam continues to grow, the market is poised for further expansion, with luxury apartment prices in prime locations reaching new heights.
Vietnam Luxury Residential Real Estate Market Size - Table of Contents
1. MARKET DYNAMICS
- 1.1 Market Overview
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1.2 Market Dynamics
- 1.2.1 Market Drivers
- 1.2.1.1 Incremental urbanization rate accelerates Vietnam's demand for luxury residential real estate
- 1.2.1.2 Growing middle-class buyers drive the market
- 1.2.2 Market Restraints
- 1.2.2.1 High imbalance in population versus real estate index
- 1.2.3 Market Opportunities
- 1.2.3.1 Increase in foreign demand and foreign investments
- 1.3 Value Chain / Supply Chain Analysis
- 1.4 Industry Policies and Regulations
- 1.5 Technological Developments in the Sector
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1.6 Industry Attractiveness - Porter's Five Forces Analysis
- 1.6.1 Bargaining Power of Suppliers
- 1.6.2 Bargaining Power of Buyers/Consumers
- 1.6.3 Threat of New Entrants
- 1.6.4 Threat of Substitute Products
- 1.6.5 Intensity of Competitive Rivalry
- 1.7 Impact of Geopolitics and Pandemic on the Market
2. MARKET SEGMENTATION
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2.1 By Type
- 2.1.1 Apartments and Condominiums
- 2.1.2 Villas and Landed Houses
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2.2 By City
- 2.2.1 Ho Chi Minh City
- 2.2.2 Ha Noi
- 2.2.3 Other Cities
Vietnam Luxury Residential Real Estate Market Research FAQs
How big is the Vietnam Luxury Residential Real Estate Market?
The Vietnam Luxury Residential Real Estate Market size is expected to reach USD 4.14 billion in 2025 and grow at a CAGR of 13.65% to reach USD 7.84 billion by 2030.
What is the current Vietnam Luxury Residential Real Estate Market size?
In 2025, the Vietnam Luxury Residential Real Estate Market size is expected to reach USD 4.14 billion.
