The "downturn market" is over; wealthy domestic and foreign investors are now busily "hunting" for legally compliant real estate projects.

The latest report from JLL Vietnam shows that the market picture in 2025 has dramatically reversed. There is no longer the gloomy "afternoon market" scene like in the previous period, capital flows are flowing strongly again thanks to the gradual removal of administrative bottlenecks and increasingly clear planning.

The race of the "big guys"

The bustling atmosphere was heated up by the return of a series of big names. In the domestic group, Vingroup , Novaland, Phat Dat, Nam Long or MIK Group continuously had new moves. Meanwhile, foreign investors were not left out of the game with the massive presence of CapitaLand, Keppel, Gamuda Land...

Ms. Le Thi Huyen Trang, General Director of JLL Vietnam, cited data from the General Statistics Office and the Ministry of Finance showing that in just the past 10 months, the real estate sector has attracted up to 2.75 billion USD in foreign direct investment (FDI), accounting for nearly 20% of the total FDI capital in the country. Notably, the actual amount disbursed reached 1.5 billion USD, proving that investors are not just "registering for fun" but are actually pouring money into the project.

According to JLL's calculations, the total value of announced M&A deals in the first 11 months of 2025 reached about 2.4 billion USD. However, the actual figure "under the iceberg" is much larger due to transactions that have not been officially announced.

Where is the money going?

Data shows that the housing segment is absolutely overwhelming, accounting for more than 70% of the total transaction value. The biggest boost for this boom comes from the policy that took effect from April 2025, allowing agreements on the right to use non-residential land (such as agricultural land, industrial land...) for commercial housing. This mechanism has "unleashed" a series of projects, promoting rapid transfer transactions.

Following housing are commercial real estate (accounting for 17.7%) and resort real estate (5.3%). Notably, a "newcomer" is emerging in the Data Center sector, accounting for 3.3% of the transaction volume. This is considered a potential niche market in the digital age.

Foreign investors' taste: "Clean" and "Green"

Despite having money, international investors (especially from Korea, Singapore, Japan, and the US) are increasingly demanding. Ms. Trang said that the current "taste" of foreign investors can be summed up in two keywords: transparency and sustainability.

First, they give absolute priority to projects with "clean" legal status, land with approved planning and a clear construction roadmap for immediate implementation. The time of buying "paper" projects for speculation is over.

Second, green factors (ESG) have become mandatory standards. Investment funds from Europe and North America strictly adhere to environmental standards, forcing projects in Vietnam to transform towards sustainable development if they want to sell at a good price.

Source: https://nld.com.vn/het-canh-cho-chieu-dai-gia-noi-ngoai-tap-nap-di-san-du-an-nha-dat-du-phap-ly-19625121008295372.htm