Hanoi: Vietnam’s real estate prices have experienced a significant expansion of 59% over the past five years. This growth surpasses that of several other nations, including the US with a 54% increase, Australia at 49%, Japan at 41%, and Singapore at 37%, as per data from the Global Property Guide.

According to Vietnam News Agency, Nguyen Quoc Anh, the Deputy General Director of Batdongsan.com.vn, highlighted these figures at the 2024 Vietnam Real Estate Summit held on December 3. Anh noted that Vietnam’s population growth and urbanisation rate present numerous opportunities for the real estate market to flourish. He pointed out that the trend towards smaller family sizes is fostering the demand for property acquisitions, both for inheritance purposes and for the pursuit of home ownership among the younger population.