In 2023, Ho Chi Minh City's real estate sector will attract 873 million USD, nearly 4 times the 2022 figure of 230 million USD.

According to the data report on housing and real estate market in the fourth quarter and the whole year 2023 of the Ho Chi Minh City Department of Construction, foreign investment capital in Ho Chi Minh City's real estate sector increased sharply compared to 2022.

Specifically, in terms of foreign investment, the real estate business sector in 2023 attracts 873 million USD, ranking 3rd among the industries and fields attracting the largest foreign investment capital in the city. Of which, newly registered capital is more than 230 million USD, adjusted registered capital is nearly 105 million USD, capital contribution and share purchase is 538 million USD.

Meanwhile, in 2022, Ho Chi Minh City's real estate sector will only attract 230 million USD of foreign investment capital, ranking fifth among industries and fields.

Thus, foreign investment capital in 2023 increased 3.8 times compared to the previous year despite the city's real estate market facing many difficulties in liquidity and supply scarcity over the past year.

Revenue from real estate business activities in Ho Chi Minh City for the whole year 2023 reaches 230,109 billion VND

Thereby, it shows that Ho Chi Minh City's real estate business still has significant attraction for foreign investment capital. And there is a change in investment structure, specifically, investment capital for new projects or capital adjustments for ongoing projects accounts for a low proportion compared to capital contribution and share purchase activities.

Foreign investment capital in Ho Chi Minh City real estate in 2023 will increase sharply.

Accordingly, in 2023, Ho Chi Minh City's real estate market will welcome 19 commercial housing projects that are announced to be eligible for sale, lease and purchase of housing products formed in the future. For real estate business activities, growth in 2023 will decrease by 6.4%, compared to the same period.

According to the assessment of Ho Chi Minh City Department of Construction, the real estate market is still facing many difficulties but has gradually recovered

The contribution of real estate business activities to GRDP (total product in the area) of Ho Chi Minh City in 2023 maintains 3.6% (in 2022 it is 3.7%, in 2021 it is 3.6%) . Real estate business revenue for the whole year 2023 reached 230,109 billion VND, down 2% over the same period.

“The real estate market is still facing many difficulties but has gradually recovered, the next quarter's growth is less negative than the previous quarter. Along with Ho Chi Minh City's efforts in disbursing public investment capital, it has promoted the construction industry to recover. For the whole year of 2023, the construction industry will grow by 4.5% over the same period" - Ho Chi Minh City Department of Construction assessed.