Commercial Real Estate Market in Vietnam Market Size

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 *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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