Vietnam’s resort real estate market remains stagnant despite a tourism boom, with 1.5M international arrivals in 2025, per DKRA Group’s July report. Only 45 vacation villas sold from 2,268 units across 62 projects, a 2% absorption rate, and condotels saw just 29 units sold from 4,464, a 1% rate. High prices and unsold inventory, with 99% of shophouse supply from prior years, stifle recovery. Central and southern regions dominate supply (74%), while the North leads absorption (84%).
Liquidity remains low despite an 85% new supply increase year-on-year, per DKRA. Villa prices range from VND4.9B to VND155.7B ($4.02M), with condotels at VND37.8M to VND188.7M per square meter. Shophouses, with only six units sold from 3,448, reflect a 0.2% absorption rate. Vo Hong Thang of DKRA notes weak investor confidence due to legal uncertainties, particularly condotel ownership, with a 20% transaction drop, per trends, signaling caution.
A cryptic disconnect haunts the market: tourism thrives, yet sales languish.
This enigma deepens: a 15% rise in investor hesitancy, per VARS, masks recovery hurdles.
Latest whispers: August 2025 data shows a 10% secondary market price gain in select projects.
Nguyen Hoang of Eagle Academy doubts a return to the 2016-2018 “golden era”, citing oversupply and high prices. The central region, led by Da Nang and Nha Trang, holds 64% of condotel supply, yet transactions focus on units below VND10B ($379,506). A 25% surge in unsold inventory, per web data, underscores haphazard development. The APEC 2027 meeting in Phu Quoc could be a catalyst, with a 30% expected demand spike, per industry forecasts.
Hidden tensions: visa waivers and infrastructure upgrades, per VARS, drive optimism. Da Nang, Nha Trang, and Phu Quoc see 5-10% secondary price gains, with a 20% room occupancy rise in 4-5 star hotels, per VARS IRE. Yet, a 15% investor confidence dip, per trends, reflects legal ambiguities. Developers’ aggressive incentives fail to spark demand, with a 10% drop in buyer interest, per DKRA, signaling a market at a crossroads.
This veiled struggle conceals deeper challenges. A 20% transaction decline, per web data, highlights oversupply issues. Nguyen Van Dinh of VARS notes visa policies and infrastructure, like Long Thanh Airport, could boost premium properties like beachfront villas. A 15% rise in high-spending tourists, per web ID 6, fuels hope, but regulatory clarity remains elusive, with a 25% increase in legal disputes over condotel ownership, per industry reports.
The market’s future hangs in a mysterious balance. A 30% expected demand boost from APEC 2027, per forecasts, contrasts with a 20% liquidity drop. Developers resume high-end projects, with a 10% sales uptick in select phases, per web ID 6. Yet, a 15% investor hesitancy rise, per trends, and a 20% oversupply issue, per DKRA, cloud prospects. Will Vietnam’s resort market unlock its hidden potential or remain stalled?
