(EN)GTHTSVN Research_Sector Report_Vietnam Residential RE 1H2026 Updates_ 13Aug26

The Vietnam Real Estate Market in the first half of 2026 entered a phase of intense polarization and screening. The sector faced dual pressures from high lending rates and tightened credit, while legal resolutions and infrastructure developments acted as long-term recovery drivers.

• Market liquidity is showing signs of slowing down as investors seek areas benefiting from Hanoi’s 100-year master plan and ongoing site clearance activities. Primary apartment projects recorded lower absorption rates in Q2 compared to previous quarters. Speculative cash flows are exiting the land plot segment, particularly in suburban areas, with many former hotspots witnessing fire sales at 20-30% discounts from their peaks. Conversely, high-quality apartment projects continue to attract real-demand buyers, although purchasing power remains constrained by elevated price levels.
• Mortgage rates (especially floating rates) remain elevated at 13-14%, peaking at 16% in some cases. This is driven by the State Bank of Vietnam’s (SBV) tightened control over real estate credit growth and an upward trend in deposit rates since the beginning of the year. High borrowing costs and soaring home prices are creating substantial cash flow pressures for investors and shrinking homeownership accessibility for the younger demographic, which is directly reflected in the current sluggish liquidity.