In 2024, Hanoi saw a sharp increase in foreign buyers’ interest in real estate, with more than 2,800 apartments purchased by foreigners, double the combined total of 1,765 apartments sold in the previous five years (2018-2022).
The Vietnam Realtors Association sees this as a positive signal for the market, facilitating the sale of unsold luxury properties. Sales are expected to continue to rise, driven by the increasing number of foreign professionals working in northern Vietnam, especially in management positions, looking to buy property in the capital.
However, according to CBRE Vietnam, the majority of foreign buyers are from China, Hong Kong, Taiwan and South Korea. However, most foreigners buy property in Vietnam for investment purposes, hoping for price increases, rather than for personal use or rental purposes. Only a few who plan to live in Vietnam long-term buy property for themselves.
