At the seminar “Activating a New Cycle: New Trends – New Strategies,” held as part of the 2026 Real Estate Forum organized by TheLEADER online magazine in Hanoi on November 11th, speakers analyzed the opportunities, challenges, and perspectives of businesses in the new cycle.
Speakers participating in the panel discussion.
Opportunities and challenges in the new market cycle.
Ms. Dang Phuong Hang, General Director of CBRE Vietnam, commented that the market has now entered a new phase. The current time can be seen as the beginning of a new development cycle for the market.
A key characteristic of this phase is that the market is gradually finding a balance between supply and demand. Supply is now more abundant, while demand is becoming increasingly evident and differentiated across various segments.
Based on market analysis and research by CBRE, Ms. Hang stated that three factors will be the driving force behind the real estate market in the coming period.
Firstly, the potential for urbanization leads to increased demand for housing, infrastructure development, and urban development space.
Secondly, this year, the GDP growth mentioned could reach 9.9%, and in the coming years, the economy is expected to move towards double-digit growth rates, which will be a significant driver for the real estate market.
Thirdly, there is a shift in the structure of real estate demand. While previously the market was heavily influenced by investment demand, now the demand for actual housing is becoming a more prominent factor.
The market is witnessing a clear differentiation between customer groups and product segments. Buyers are no longer primarily focused on the high-end segment as before, but are increasingly having more diverse choices and requirements, tailored to their financial capabilities and practical needs.
Besides the opportunities, many challenges in the new cycle were also shared by Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association, at the seminar.
Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association.
Firstly, there is an increasingly clear differentiation between businesses. Some businesses are performing well, mainly large corporations and enterprises, while the majority of small and medium-sized enterprises, especially brokerage firms, are still struggling.
In addition, the digital transformation process and the application of technology are also creating major changes in business operations, even replacing some of the jobs previously performed by humans.
Thirdly, the housing supply is declining and continues to be imbalanced in terms of product structure; the supply structure remains skewed towards the high-end segment, while affordable housing is becoming increasingly scarce.
However, despite the challenges, the market still has some bright spots. These include industrial real estate and tourism real estate.
Notably, not only loans for social housing development but also credit for tourism and resort real estate are considered exempt from the bank’s credit growth limit. These factors could create more room for these segments to develop.
Another positive development is the successful resolution of difficulties and obstacles for long-standing stalled projects. To date, 3,611 projects have been processed, with no remaining issues, and are proceeding with implementation.
In addition, 1,206 projects have solutions under the authority of ministries and agencies; while 146 projects under the authority of the National Assembly and the Government are still being reviewed and resolved.
Based on the analysis, Mr. Chau predicted that the supply of real estate could increase from 2027 onwards. However, for this result to be truly effective, it is still necessary to continue improving mechanisms and policies and thoroughly address any remaining obstacles in the projects.
The new playing field prioritizes capable businesses with real products.
Ms. Tran Thi Hoa Xim, General Director of FUTA Land Real Estate Joint Stock Company, said that the company’s advantage lies in its large land bank, many of which have completed legal procedures. Furthermore, some projects can even hand over land use rights certificates and house ownership certificates to customers immediately upon handover of the property.
Ms. Tran Thi Hoa Xim, General Director of FUTA Land Real Estate Joint Stock Company.
The shift in consumer demand has created opportunities for businesses with genuine growth potential and products ready for market.
According to Ms. Xim, the current advantage lies with developers who have real capabilities, ready-to-deliver products, appropriate pricing, and the ability to immediately meet customer needs.
The next opportunity that the business leader saw came from the significant development of several localities in Vietnam. These included Da Nang, Lam Dong, the former Binh Duong area, and Ho Chi Minh City.
In addition, businesses are adjusting and expanding their investment portfolios to adapt to the new cycle. Besides low-rise housing projects, there is a need for high-rise projects with very reasonable prices, suitable for the financial capabilities of young families.
Mr. Le Van Thang, Deputy General Director of Sales and Marketing at Eurowindow Holdings JSC, shared that the company’s important principle is to select areas with economic development potential, the ability to develop social services, and the capacity to bring real value to the people.
Currently, in localities such as Thanh Hoa and Nghe An, businesses have recognized significant potential and believe these could be new economic growth hubs for the region.
For product development, especially in the new cycle, Eurowindow Holding is not simply looking for locations with the potential for land value appreciation in a short period. More importantly, it must identify the actual needs of customers in each market and develop product value.