Properties in downtown HCM City. — VNA/VNS Photo

HÀ NỘI — Việt Nam's property supply surged 50 per cent in 2025, the fastest growth in seven years, as regulatory reforms unlocked stalled projects and fuelled sharp apartment price increases in major cities.

The country now has 3,297 active projects worth VNĐ7.42 quadrillion ($285 billion) covering 5.9 million residential units, approaching the peak volumes of 2018, the Ministry of Construction said in its annual assessment. Commercial housing and urban developments dominate with 2,358 projects valued at VNĐ6.74 quadrillion.

Buyers absorbed the increased supply at a brisk pace despite price increases, with take-up rates for new launches exceeding 60 per cent and multiple developments selling out completely. The strong transaction activity reflected sustained demand for owner-occupation and medium- to long-term investment, the ministry reported.

Apartment prices climbed 96.2 per cent in Hà Nội, 72.6 per cent in Đà Nẵng and 56.9 per cent in HCM City compared to 2019, according to the data of the Vietnam Real Estate Market Research Institute (VARS IRE).

The capital experienced particularly volatile movements, with some properties jumping several hundred million to one billion đồng within single months. Land plots, villas and townhouses rose up to 30 per cent during the year.

The rally moderated in late fourth quarter as prices stabilised across some markets, though no significant corrections emerged. Loss-cutting sales remained confined to properties purchased at inflated premiums during brief speculative episodes earlier in the year.

Analysts said government infrastructure initiatives supporting economic growth targets should cushion against sharp downturns, particularly as most investors have not encountered serious financing difficulties.

Inventory patterns shifted dramatically from previous cycles.

Third quarter stock reached 26,717 units across 22 provinces, with apartment and detached housing inventory surging 137 per cent quarter-on-quarter while land plot inventory decreased 69 per cent year-on-year, ministry data showed.

Unlike previous downturns dominated by completed unsold units, current inventory consists largely of under-construction projects, many already recording strong pre-sales. VARS IRE characterised the build-up as positive, reflecting developer confidence rather than accumulating distressed assets. — BIZHUB/VNS