Despite a challenging global economic landscape, Vietnam continues to stand resilient as one of the top 10 recipients of overseas remittances worldwide, with an estimated US$14 billion last year, according to the World Bank’s Migration and Development Brief and the Global Knowledge Partnership on Migration and Development (KNOMAD).

The real estate markets in Vietnam’s two largest cities, Hanoi and Ho Chi Minh City, indicated signs of recovery amid protracted woes in the final months of last year, according to a Savills report.

The hotel real estate market in Vietnam, particularly in Hanoi and Ho Chi Minh City, is predicted to see a big supply thanks to new projects in the 2024-2026 period, according to Savills Vietnam.

Hanoi real estate market in 2023 saw the lowest sales in the villa and townhouse segment in the past 10 years, but selling prices of the villa and townhouse segment in Hanoi continued to increase strongly.

Industrial real estate was the only bright spot in the real estate market in 2023. As more foreign investors came in Vietnam, the demand for industrial land and ready-made workshops increased, pushing rental prices up.

Government policies and market forces are expected to propel the real estate sector for continued growth in 2024, with demand in industrial and office leasing segments expected to increase, according to experts from Savills Vietnam.

VOV.VN - Vietnam has so far attracted 1,135 foreign-invested projects in the real estate sector with a total registered capital reaching US$68.045 billion, according to data provided by the Ministry of Planning and Investment (MPI).

Vietnam's real estate market will bounce back starting from the second quarter of 2024, and prosper into 2025, experts have said.

The industrial real estate market in the south was vibrant and thriving in the third quarter of 2023, with the rental area reaching 143,000 sq.m, up 2.4 times compared to the previous quarter.

Real estate remains a good investment channel in the long term, and the market will start recovering in 2024, insiders have said.