Vietnam’s Residential Real Estate Sector Spotlight: Is Recovery Finally Within Reach?

FiinRatings has just released the third edition of the Vietnam’s Sector Spotlight Series, diving deep into the Real Estate sector. After exploring the Banking sector previously, this report turns the lens to 77 listed real estate developers, offering assessment of a significant portion of the sector based on publicly available data. 

Lưu ý: Báo cáo này hiện chỉ được công bố bằng tiếng Anh.

FiinRatings has just released the third edition of the Vietnam’s Sector Spotlight Series, diving deep into the Real Estate sector. After exploring the Banking sector previously, this report turns the lens to 77 listed real estate developers, offering assessment of a significant portion of the sector based on publicly available data. 

Key Highlights of the Report:  

🔹Regulatory Tailwinds: New laws are improving transparency, addressing legal bottlenecks, and boosting buyer confidence. 

🔹Demand & Supply Imbalance: Housing demand is recovering in 2024, however, the surge in high-end supply compared to affordable housing widens the accessibility gap.  

🔹Financial Pressures: From 2019–2024, real estate loans grew steadily. Major players show stable capital structures, but smaller firms rely more on debt. 

🔹Corporate Bond Market Trends: While bank lending remains active, bond issuance has moderated. Many developers face liquidity stress, pushing bond yields to 20–25%. Refinancing pressure looms in 2025. 

What do these implications mean for investors? Contact us for the most informed investment decisions! 

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Vietnam's Sector Spotlight Series: A comprehensive series by FiinRatings offering data-driven analysis and insights into key trends, major driving factors, financial & credit performance; and capital market activity review across Vietnam's key economic sectors.   

This report is available for free upon registration. We are happy to help investors invest with confidence in Vietnam’s capital market via our on-demand services including KYC, credit assessment, due diligence, and other transaction-related support works. 

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