The Ho Chi Minh City commercial property market has returned to its growth trajectory from before the COVID-19 pandemic thanks to the retail and services sector as well as increasing number of foreign visitors to the city, experts said.

The branded residence market is gaining a stronger foothold in the Vietnamese market with potential to further develop, shaping the lifestyle of the country’s elite, according to experts.

Ho Chi Minh City’s office market witnessed its first positive signs in the first half of this year since being affected by the COVID-19 pandemic for the previous two years, experts said.

Office space for lease in Ho Chi Minh City in the first half of 2022 continued to make a recovery with a total net absorption area of about 21,000 sq.m, equivalent to 38% of 2021, although the new supply remained limited, according to real estate firm CBRE.

Strong demand will ensure stable absorption of office space in Hanoi in the second half of 2022, according to real estate services firms CBRE.

Vietnam’s tourism is returning to the new normal and the resort real estate also begins getting back to the racetrack after a two-year hiatus caused by the COVID-19 pandemic, with numerous projects expected to be offered for sale in 2022.

After a long hiatus caused by the COVID-19 pandemic, Vietnam’s tourism is gradually reopening with the resumption of international flights, which is considered a positive factor helping recover the hotel market.

VOV.VN - Despite the negative impact of COVID-19, several major retail groups have quietly brought in new international brands to Vietnam this year, with priority being given to large-scale stores situated in prime locations in the centre of Ho Chi Minh City.

Homebase, a Vietnamese proptech startup, has raised US$30 million of funding from many world leading adventurous funds including Y Combinator, Partech Partners, Goodwater Capital, Ace and Company and Emles Advisors.

The pandemic and social distancing have not restrained apartment price increases. Even with VND1.5 billion, it’s difficult to buy an apartment in the Hanoi suburbs.