Several real estate agencies (including CBRE, Batdongsan.com.vn, and DXS-FERI) have recently released their Q1 2024 residential market reports. Below are our key takeaways from agents’ comments on the transactions data, pricing trends, and their outlook for recovery in the sector.

Preparation for new project launches has ramped up. We observe that several developers have held preparation activities for new project launches including groundbreaking, introduction, and sales launch events nationwide (see Figure 7). These events encompass new projects located in both HCMC and Hanoi, as well as in second-tier provinces, and some have involved foreign developers.

Key preparation events in Q1 2024 in the primary market nationwide include 1) groundbreakings in Vinhomes Grand Park – The Opus One (HCMC) from Samty, Vinhomes Smart City – Lumi Hanoi (Hanoi) from CapitaLand, PDR’s Thuan An 1 (Binh Duong), and 2) kick-off events in VHM’s Vinhomes Royal Island (Hai Phong), CapitaLand’s Sycamore (Binh Duong), and Gamuda Land’s Eaton Park (HCMC).

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