As Vietnam’s real estate sector faces significant challenges, several landmark projects launched in 2024 are injecting renewed momentum into the market, offering optimism for both investors and homebuyers. These developments, led by some of the nation’s top real estate developers, promise to revitalize the market with their prime locations, high-quality construction, and transparency, addressing both demand and trust issues within the sector.
Major Projects Leading the Charge
Among the most notable projects this year is Sun Urban City Phu Ly, developed by the Sun Group in Ha Nam province, northern Vietnam. Spanning 420 hectares, the development will feature a mix of nine-storey apartments starting at VND29 million ($1,140) per square meter and low-rise townhouses priced from VND95 million ($3,732) per square meter. The first phase is set for delivery in the second quarter of 2026, signaling the group’s long-term commitment to the region’s growth.
In the Mekong Delta, Waterpoint by Nam Long Group, in collaboration with Japan’s Nishi-Nippon Railroad, stands out as a flagship project. Covering 355 hectares in Long An province, Waterpoint offers a variety of luxury properties, including riverfront villas ranging from VND18-30 billion ($1.18 million) for properties spanning 600-1,000 sqm. The project also features grand villas priced between VND10-16 billion ($628,562) for properties sized from 300-500 sqm, along with more affordable villas and townhouses starting at VND3.6 billion ($432,136).
Vingroup’s Continued Dominance
Vingroup, Vietnam’s largest private conglomerate, is further solidifying its dominance in the real estate market with two prominent projects: Vinhomes Royal Island and Vinhomes Global Gate.
Vinhomes Royal Island, located in Hai Phong city, is an 877-hectare development offering luxury villas, townhouses, and shophouses, with prices starting from VND9 billion ($353,566) for townhouses and reaching up to VND17.1 billion for villas.
Vinhomes Global Gate, a 385-hectare development in Hanoi, will feature over 4,000 units. Shophouse prices range from VND17-36 billion ($1.4 million), while villas are priced between VND40-200 billion ($7.86 million), reflecting the high-end nature of the project.
Both developments are set to cater to the affluent market, offering a blend of upscale residential and commercial spaces.
High-End Apartment Developments
In the luxury apartment segment, Masterise and MIK Group have also made significant strides. Masteri Grand Avenue in Hanoi offers apartments starting from VND3.14 billion ($123,355), with unit sizes ranging from 26.9 to 138.1 sqm. Meanwhile, The Continental offers premium apartments starting at VND100 million ($3,928) per square meter, designed for high-net-worth individuals seeking exclusive living spaces.
Resort Real Estate Gains Traction
In Vietnam’s resort real estate market, Libera Nha Trang, developed by KDI Holdings, is a key highlight. The 42.8-hectare beachfront project features 168 shophouses, 98 beach villas, and 2,413 beach apartments. Prices for the apartments range from VND1.2 billion to VND3.2 billion ($125,712), helping to reignite interest in resort properties after a period of stagnation.
Affordable Housing Initiatives
In southern Vietnam, developers continue to shape the affordable housing market, with projects like Bcons Avenue in Binh Duong and SkyOne by Phu Dong Group. These developments cater to young professionals and middle-income buyers, offering units starting from VND1.5 billion ($58,928). Such projects are especially attractive to those seeking affordable housing in suburban areas as the demand for residential units in these regions continues to grow.
Meanwhile, in Ho Chi Minh City, projects such as Eaton Park by Gamuda Land and Masteri Grand View by Masterise have already garnered significant pre-sale interest. Eaton Park has attracted over 2,700 bookings, while Masteri Grand View has exceeded 4,200 reservations. Both projects, located in Thu Duc city, offer units priced from over VND100 million ($3,928) per square meter, reflecting strong demand in the city’s rapidly developing eastern districts.
Affordable Social Housing Projects
In a significant step for affordable housing, Nhon Phu 2, a social housing project in Quy Nhon, Binh Dinh province, is set to provide 714 social housing units and 48 townhouses. Developed by Solrise Nhon Phu Co., Ltd., the 3.8-hectare project will offer units starting at VND12 million ($471) per square meter (excluding taxes and fees), making it one of the key affordable housing developments in Vietnam.
Conclusion
Vietnam’s real estate market in 2024 is witnessing a diverse range of projects that cater to various market segments, from luxury developments to affordable housing solutions. With strong government support, especially in the hospitality sector, and major developers continuing to invest in large-scale projects, the outlook for the Vietnamese real estate sector remains optimistic. These standout developments are not only rejuvenating the market but also providing a wealth of opportunities for investors and homebuyers alike, signaling a new era of growth and innovation in the nation’s real estate landscape.
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