On June 18, the event “Overview of the Real Estate Market in the First Half of 2024” with the theme “Consolidation” was held at the JW Marriott Hotel Hanoi, organized by Property Guru Group.

During the event, the real estate market in the first half of 2024 particularly attracted buyers’ attention to the condominium segment. Notably, in Hanoi, data from Batdongsan.com.vn revealed that the most searched condominium projects were concentrated in the secondary market in the western area, such as Vinhomes Smart City, Vinhomes Green Bay Me Tri, Trung Hoa – Nhan Chinh Urban Area, and Goldmark City. In Ho Chi Minh City, the list of most sought-after condominiums also included major secondary projects in densely populated areas.

Revealing part of the content from the Real Estate Market Report for the first half of 2024, Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, indicated that from the first quarter to the end of the third quarter of 2024, a “turning point” in the Vietnamese real estate market emerged. The negative trends gradually diminished, and interest in various types of properties ceased its steep decline. Condominiums saw a significant increase in search demand at the beginning of the year, especially in Hanoi. Moving into the last quarter of 2024, the market will cautiously probe, with liquidity becoming more prevalent in practical-use products. The consolidation phase is expected to occur in the first quarter of 2025 as monetary conditions become more favorable, giving high-cost types such as private houses and townhouses are an advantage.

Experts forecast that the market will brighten from the second quarter of 2025, with investor confidence in the economy and yields growing. At that time, land plots and villas will garner attention. From early 2026, the real estate industry is expected to stabilize, witnessing the return/emergence of various diverse property types.