| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 22.01 Billion |
| Market Size (2030) | USD 45.09 Billion |
| CAGR (2025 - 2030) | 15.42% |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
.webp "Commercial Real Estate Market in Vietnam Major Players")
Vietnam Commercial Real Estate Market Analysis
The Commercial Real Estate Market in Vietnam Market size is estimated at USD 22.01 billion in 2025, and is expected to reach USD 45.09 billion by 2030, at a CAGR of 15.42% during the forecast period (2025-2030).
The COVID-19 pandemic caused a slowdown in the Vietnamese property market. However, many companies believe this is only temporary and hoping for a rebound once the virus is under control. Meanwhile, the government has identified public investment as a key solution to boost growth. A better infrastructure system could be seen as welcoming news for the real estate market for further development in the coming years.
Despite the signs of cyclical moderation in growth, Vietnam's economic outlook remains positive. Vietnam's economy saw strong growth, with laws that made foreigners invest in its development. As a result, there has been a surge in high-end real estate developments in the country.
The improvement in infrastructure supporting the tourism industry, which has always been one of the prioritized investment areas by Vietnam, has boosted the growth of many tourist cities in recent years. Local demand in Vietnam is also rising as Vietnamese entrepreneurs are looking for investment opportunities.
Vietnam Commercial Real Estate Market Trends
Growth in Vietnamese E-commerce to Drive the Industrial Real Estate Market
The Vietnamese e-commerce market is projected to continue growing in the post-pandemic period. The e-commerce revenue in Vietnam reached USD 11.8 billion in 2020, posting a growth rate of 18%. The Vietnamese e-commerce market recorded the fastest growth rate in Southeast Asia. E-commerce is expected to continue thriving post the COVID-19 pandemic, creating new consumption trends.
Since the outbreak, the demand for online purchases through e-commerce platforms has increased sharply. By 2021, more than 70% of Vietnam's population accessed the Internet, of which nearly 50% of consumers tried online shopping, and 53% of them used e-wallets and online payment.
E-commerce, particularly in logistic services and express delivery focusing on e-commerce, is now a prospering sector for investors. Recently, 4PL (4th party) logistics providers entered the market by offering more custom solutions to customers who need more flexibility in their shipping needs. The demand for industrial park real estate from investors entering the Vietnam market is also high. In the past, they often needed to find a land fund to develop with a scale of 5,000-10,000 m2. Up to now, it has increased to 10,000-50,000 m2. The market is also expected to see a significant increase in cold storage demand in support of essential medical services, such as the rotation and storage of the new COVID-19 vaccine.
Understand The Key Trends Shaping This Market
Download PDF
Workplace Real Estate Continues to Grow in Vietnam
Currently, the demand for coworking spaces in Vietnam is driven by start-ups, freelancers, and small corporations. The growing demand has attracted domestic firms, global firms, and investment funds to Vietnam. Such spaces will continue to expand in terms of supply and offerings and attract start-ups as tenants, including small corporations looking to minimize costs and increase flexibility.
By the end of 2021, the total stock of Grade A and B reached 1,596,448 sq. m (NLA) in Hanoi. In Q4 2021, asking rents remained stable in existing projects in both grades. Asking rents of existing Grade A and Grade B offices were maintained at USD 24.6 per sq. m/month and USD 14.0 per sq. m/month, respectively.
In Q4 2021, the Ho Chi Minh City (HCMC) office market recorded a good revenue trend in vacancy and rental rates. In 2022, the market is expected to have 96,000 sq. m of new NLA from two Grade B buildings and one Grade A building.
Get Analysis on Important Geographic Markets
Download PDF
Vietnam Commercial Real Estate Industry Overview
Commercial real estate in Vietnam has a medium level of market share concentration. International investors are also attracted to the Vietnamese market and are looking to invest in almost all segments, from office to retail and high-end hotels. Developers are active in creating new hospitality products for sales, most notable of which are coastal shophouse/shop villas in Phu Quoc and Ha Long.
In hospitality real estate, there is a need for developers in Vietnam to diversify their market by paying attention to the non-traditional market and bringing in professionals to manage their property. There is rising demand for quality office and retail stock in centralized places, with the Hanoi CBD in focus. The strength of the manufacturing and tourism sector will keep demand high for retail, office, and industrial units. Some of the players are Vin Group, Dat Xanh Group, FLC Group, Toong, Nam Long Investment, and Sun Group.
Vietnam Commercial Real Estate Market Leaders
-
Vin Group
-
Dat Xanh Group
-
FLC Group
-
Toong
-
Nam Long Investment Corporation
- *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competitors?
Download PDF
Vietnam Commercial Real Estate Market News
December 2021: Nam Long Group officially signed a strategic partnership agreement with TBS Land, affirming the long-term companionship of the two sustainable corporations in the Vietnamese business community.
August 2021: Nam Long will work with its Japanese partner Hankyu Hanshin Properties Corp. to develop the Izumi City project, which has an estimated total investment capital of VND 18,600 billion (USD 814 million). The project is expected to help Nam Long secure its long-term development strategy over the next five or 10 years.
Vietnam Commercial Real Estate Industry Segmentation
Commercial real estate is a property used exclusively for business-related purposes or to provide a workspace rather than a living space, which would instead constitute the residential real estate. Commercial real estate is often leased to tenants to conduct income-generating activities. In general, it includes buildings used for commercial purposes, such as office buildings, warehouses, and retail buildings (e.g., convenience stores, big-box stores, and shopping malls). This report aims to provide a detailed analysis of the Vietnamese commercial real estate market. It focuses on the market dynamics, technological trends, insights, government initiatives in the commercial real estate sector, and COVID-19 impact on the market. Also, it analyzes the key players in the market and the competitive landscape.
The commercial real estate market in Vietnam is segmented by type and key cities. The report offers market size and forecast for Vietnam's commercial real estate market in value (USD billion) for the above segments.
| By Type | Offices |
| Retail | |
| Industrial | |
| Logistics | |
| Multi-family | |
| Hospitality | |
| By Key Cities | Ho Chi Minh City |
| Hanoi | |
| Quang Ninh | |
| Da Nang | |
| Rest of Vietnam |
By Type
| Offices |
| Retail |
| Industrial |
| Logistics |
| Multi-family |
| Hospitality |
By Key Cities
| Ho Chi Minh City |
| Hanoi |
| Quang Ninh |
| Da Nang |
| Rest of Vietnam |
Need A Different Region or Segment?
Customize Now
Vietnam Commercial Real Estate Market Research FAQs
How big is the Vietnam Commercial Real Estate Market?
The Vietnam Commercial Real Estate Market size is expected to reach USD 22.01 billion in 2025 and grow at a CAGR of 15.42% to reach USD 45.09 billion by 2030.
What is the current Vietnam Commercial Real Estate Market size?
In 2025, the Vietnam Commercial Real Estate Market size is expected to reach USD 22.01 billion.
Who are the key players in Vietnam Commercial Real Estate Market?
Vin Group, Dat Xanh Group, FLC Group, Toong and Nam Long Investment Corporation are the major companies operating in the Vietnam Commercial Real Estate Market.
What years does this Vietnam Commercial Real Estate Market cover, and what was the market size in 2024?
In 2024, the Vietnam Commercial Real Estate Market size was estimated at USD 18.62 billion. The report covers the Vietnam Commercial Real Estate Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam Commercial Real Estate Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Industrial Real Estate in Vietnam Industry Report
Statistics for the 2025 Commercial Real Estate in Vietnam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Commercial Real Estate in Vietnam analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
