The real estate market in provinces and cities in the Southern region of Vietnam in the first months of 2024 grew, with land, low-cost housing and apartments seeing higher demand.

Many retail premises in HCM City that were once popular despite very high rents have been idle for a long time.

Hundreds of housing projects in Ho Chi Minh City are currently entangled in legal procedures. Experts predict that the real estate market is now entering a recession phase.

Tightening control over credit and bond issuance has affected real estate investors, forcing them to stop work on many projects, according to HCM City’s report to the Ministry of Construction (MOC) on the city’s real estate market in Q3/2022.