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Hai Phong's property market is experiencing remarkable growth with central apartments averaging VND 45 million per square meter and villas reaching VND 49 million per square meter as of September 2025. The market has shown exceptional resilience with price increases of 80-120% over the past five years, driven by massive infrastructure investments and foreign direct investment inflows of $4.94 billion in 2024 alone.
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Hai Phong's property market is outperforming national averages with 8-25% annual growth, supported by strong FDI inflows and infrastructure development.
Rental yields of 3.2-5% for residential properties make Hai Phong competitive compared to Hanoi and Ho Chi Minh City.
Property Type | Current Price (VND/sqm) | 5-Year Growth |
---|---|---|
Central Apartments | 45 million | 80-120% |
Villas/Townhouses | 49 million | 80-120% |
Suburban Apartments | 12-15 million | 60-90% |
Luxury Apartments | $1,200-$2,170/sqm | 90-130% |
Prime River Townhouses | 80 million | 150-200% |

What are the current property prices per square meter in Hai Phong?
As of September 2025, Hai Phong's property market shows distinct pricing tiers across different property types and locations.
Central apartments command VND 45 million per square meter, representing a premium location advantage within the city core. Villas and townhouses average VND 49 million per square meter, though select river and canal-front townhouses have reached exceptional prices of VND 80 million per square meter due to their scarcity and prime waterfront locations.
Suburban apartments offer more affordable entry points at VND 12-15 million per square meter, making them attractive for first-time buyers and investors seeking lower acquisition costs. Luxury apartments in prime city center locations command premium pricing between $1,200-$2,170 per square meter.
These prices reflect Hai Phong's position as Vietnam's third-largest city and a major industrial hub, with values significantly lower than Hanoi's central apartments at VND 60-100 million per square meter or Ho Chi Minh City's VND 65-120 million per square meter.
How have property prices changed in Hai Phong over the past five years?
Hai Phong's property market has experienced extraordinary growth between 2019 and 2025, with total price increases of 80-120% across all property categories.
Central apartments rose from VND 20-25 million per square meter in 2019 to VND 45 million per square meter in 2025, representing an annual growth rate of 8-25% per year. Villas and townhouses showed similar trajectory, climbing from VND 24-32 million per square meter to VND 49 million per square meter over the same period.
The market did experience a temporary correction in 2023, with some areas dropping 20-25% due to broader economic uncertainties and tighter lending conditions. However, the market rebounded strongly in 2024-2025, driven by renewed infrastructure investments and sustained foreign direct investment inflows.
This growth significantly outpaces national averages and reflects Hai Phong's strategic importance as a major port city and industrial center. The consistent upward trajectory demonstrates the market's resilience and underlying demand fundamentals.
What are the current rental yields in Hai Phong and how do they compare nationally?
Property Type | Hai Phong Yield | Hanoi Yield | Ho Chi Minh City Yield |
---|---|---|---|
Residential Properties | 3.2-5.0% | 3.7% | 3.6% |
Commercial Properties | 5.0-7.0% | 4.5-6.0% | 4.0-5.5% |
Industrial Zones | 6.0-8.0% | 5.0-6.5% | 4.5-6.0% |
Luxury Apartments | 3.0-4.0% | 3.2% | 3.1% |
Suburban Residential | 4.5-6.0% | 4.0-5.0% | 3.8-4.5% |
How many new housing units are planned for Hai Phong through 2028?
Hai Phong has ambitious housing development plans spanning both social housing and private residential projects through 2028.
The city completed 1.5 million square meters of social housing between 2021-2025, equivalent to 20,794 units. For the 2026-2030 period, authorities have planned an additional 2 million square meters representing 28,000 units, bringing total social housing delivery to 33,500 units over the decade.
Private sector developments add substantial supply through major projects like Vinhomes Royal Island with over 2,000 units, plus numerous smaller developments. The city has opened 13 new land sites for project bidding in 2025, indicating continued private sector expansion.
Multiple urban and residential developments are progressing simultaneously, with extensive land bidding scheduled for 2025-2026. This supply pipeline reflects confidence in continued demand growth and population expansion.
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What are the current occupancy rates for Hai Phong properties?
Hai Phong maintains strong occupancy rates across residential and commercial property segments as of September 2025.
Residential occupancy rates range from 80-90% in new and luxury projects, demonstrating high stability and consistent demand. This performance reflects the city's growing population and economic expansion attracting both local residents and workers from surrounding areas.
Commercial properties in industrial zones show stable occupancy with low vacancy rates, bolstered by ongoing foreign direct investment inflows and the presence of major multinational corporations. The industrial and commercial sectors benefit from Hai Phong's strategic location as a major port city and manufacturing hub.
These occupancy rates compare favorably with national averages and indicate a healthy balance between supply and demand. The strong performance across both residential and commercial segments suggests sustainable market fundamentals supporting continued investment activity.
How much foreign investment is flowing into Hai Phong real estate annually?
Foreign direct investment in Hai Phong reached $4.94 billion in 2024, representing remarkable 42% year-on-year growth and positioning the city as Vietnam's second-largest FDI destination.
Investment flows originate from over 1,000 projects across 42 countries and territories, with major contributors including South Korea, Japan, Singapore, and Taiwan. Notable investors include multinational corporations like LG and Bridgestone, which have established significant manufacturing and industrial operations.
This FDI influx directly supports real estate demand through industrial facility construction, worker housing needs, and related commercial development. The sustained high levels of foreign investment provide confidence in Hai Phong's long-term economic growth trajectory.
The 42% growth rate in 2024 significantly exceeds national FDI growth averages, highlighting Hai Phong's competitive advantages in infrastructure, logistics, and business environment. This trend supports continued upward pressure on property values across all segments.
What is Hai Phong's projected population growth and housing demand impact?
Hai Phong's population is projected to grow from approximately 2.2 million in 2024 to 2.8-3.0 million by 2030, representing substantial demographic expansion.
The urbanization rate is expected to shift from 62% to 74-76% over the same period, indicating accelerating urban migration and development. This demographic transition creates significant housing demand pressure, particularly for urban and suburban residential units.
Population growth directly translates to higher absorption rates for new housing supply and supports sustained rental demand across all property types. The expanding workforce also drives commercial property demand as businesses establish operations to serve the growing population.
This demographic trajectory supports expert forecasts of continued property price appreciation and rental growth. The combination of population expansion and urbanization creates a favorable environment for both residential and commercial real estate investment.
How has infrastructure development affected Hai Phong property values?
Infrastructure development has been the primary driver of Hai Phong's exceptional property value growth over the past five years.
Major projects include new expressways, port expansion at Lach Huyen, strategic bridges like Hoang Van Thu and Dinh Vu-Lach Huyen Sea-Crossing, and airport improvements. These developments have particularly benefited districts like Thuy Nguyen and An Duong with enhanced connectivity.
Property values in newly connected and industrial districts have surged 30-80% over five years, with premium pricing emerging in central and transit-oriented neighborhoods. Areas with direct access to new infrastructure command significant price premiums reflecting improved accessibility and development potential.
The infrastructure investments position Hai Phong as a major logistics and industrial hub, attracting both domestic and foreign investment. Continued infrastructure development supports sustained property value appreciation across the city.
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What is the median income and property affordability ratio in Hai Phong?
Hai Phong's median household income presents significant affordability challenges for property acquisition as of September 2025.
The average monthly income stands at VND 6.4 million (approximately USD 250), translating to annual household income of approximately VND 76.8 million (USD 3,000). This income level reflects Hai Phong's position as an industrial city with growing but still developing wage levels.
The median home price-to-income ratio reaches 21.4 times annual household income, substantially higher than the global norm of 5 times. This ratio indicates significant affordability constraints for average local buyers without family assistance or extended financing terms.
Compared nationally, Hai Phong's affordability ratio is more favorable than Ho Chi Minh City's 32.5 times but higher than Hanoi's 18.3 times. The high ratio reflects rapid property price appreciation outpacing income growth, creating opportunities for investors but challenges for local homebuyers.
What are current mortgage rates and loan accessibility in Vietnam?
Mortgage financing in Vietnam presents varied options with different rate structures and accessibility for Hai Phong property buyers.
State banks offer standard rates of 6-7% for qualified borrowers, providing the most competitive financing options. Joint-stock banks typically start with promotional rates of 7-9% initially, then increase to 10-17% after promotional periods expire, requiring careful financial planning.
Social housing loans are available at preferential rates of 6.6% for low-income and first-time homebuyers, supporting government affordable housing initiatives. Loan accessibility varies significantly, with local buyers generally receiving more favorable terms than foreign purchasers.
Foreign buyers typically face loan-to-value caps of 50-75% and additional documentation requirements. Home loans are available for qualified foreign investors in specific cases, though conditions are more restrictive than for Vietnamese citizens.
What percentage of Hai Phong property transactions are speculative versus end-user?
Hai Phong's property transaction composition has shifted toward healthier end-user demand following the 2023 market correction.
Approximately 23-27% of transactions in urban high-end projects are speculative investments, while the majority represent genuine end-user purchases. This proportion has declined from pre-2023 levels as tighter credit conditions and market volatility reduced purely speculative activity.
End-users dominate social housing and affordable market segments, reflecting actual housing needs rather than investment speculation. The reduced speculative proportion indicates a more sustainable market composition with buyers focused on actual use rather than short-term resale profits.
This shift toward end-user demand supports more stable price appreciation and reduces volatility risk. The healthier buyer composition provides confidence in sustained demand fundamentals rather than speculative bubbles.
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How do experts forecast Hai Phong property prices for the next 3-5 years?
Real estate experts project continued but moderated growth for Hai Phong's property market through 2028-2030.
Expected annual price growth rates of 5-8% represent normalization from the exceptional 8-25% annual increases of recent years. This moderation reflects market maturity and reduced speculative activity while maintaining positive appreciation trends.
Central apartments could reach VND 52-58 million per square meter by 2028, while villas and townhouses may appreciate to VND 55-65 million per square meter. These projections assume continued economic growth and infrastructure development without major market disruptions.
Key growth drivers include sustained foreign direct investment, ongoing infrastructure upgrades, continued population growth, and tighter credit cycles limiting pure speculation. Potential risks include FDI slowdowns or regulatory tightening that could moderate growth expectations.
The forecast represents healthy appreciation supporting long-term investment while avoiding unsustainable speculation that characterized earlier periods. This balanced growth trajectory appeals to both investors and end-users seeking stable value appreciation.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Hai Phong's property market demonstrates exceptional growth potential with strong fundamentals supporting continued appreciation, though affordability challenges remain for local buyers.
The combination of infrastructure development, foreign investment inflows, and population growth creates a compelling investment environment with rental yields competitive nationally.