How's the real estate market doing in Hai Phong? (2026)

Authored by the expert who managed and guided the team behind the Vietnam Property Pack

Everything you need to know before buying real estate is included in our Vietnam Property Pack

How's the real estate market going in Hai Phong in 2026?

What's the average days-on-market in Hai Phong in 2026?

As of early 2026, the average days-on-market for residential properties in Hai Phong is around 60 to 80 days for apartments in central districts like Ngo Quyen, Le Chan, and Hai An, while landed properties such as townhouses typically take closer to 90 days to sell.

Most Hai Phong listings that are priced correctly will close within 45 to 120 days, with condos selling faster than landed homes because transaction paperwork and legal checks on houses tend to take longer.

Compared to 2024, days-on-market in Hai Phong has improved slightly because transaction volumes surged by over 50% during that year, showing stronger buyer confidence and better market liquidity as the city's economy continued its double-digit growth streak.

Are properties selling above or below asking in Hai Phong in 2026?

As of early 2026, Hai Phong operates as a negotiation market where resale properties typically sell at around 3% to 8% below the original asking price, averaging about 5% below asking once buyers account for standard bargaining and legal verification discounts.

The majority of Hai Phong resales, roughly 70% to 80%, close at or below the asking price, while new developer sales usually transact at list price but include incentives worth 1% to 3% of the property value through furnishings, fee support, or upgrade packages. Our confidence in these figures is moderate to high, based on consistent patterns across multiple data sources.

Above-asking sales are rare in Hai Phong and tend to occur only for prime street-front properties in central Ngo Quyen district, newer compounds in Le Chan near AEON Mall, or waterfront units in well-managed buildings where inventory is genuinely tight.

By the way, you will find much more detailed data in our property pack covering the real estate market in Hai Phong.

What kinds of residential properties can I realistically buy in Hai Phong?

What property types dominate in Hai Phong right now?

The Hai Phong property market is roughly split between landed housing (townhouses, narrow-front rowhouses, and small villas) at around 55% to 60% of listings, apartments and condos at 25% to 30%, and land plots at the remaining share, with this breakdown reflecting the city's traditional preference for landed properties combined with growing modern apartment developments.

Landed housing, particularly townhouses and rowhouses with narrow street frontage, represents the single largest share of Hai Phong's residential market because Vietnamese families traditionally prefer owning land underneath their homes for security and inheritance purposes.

This dominance of landed properties in Hai Phong developed because the city expanded outward through urban villages and self-built housing before large-scale developer projects arrived, and Vietnamese culture places strong value on land ownership as a store of wealth across generations.

If you want to know more, you should read our dedicated analyses:

• How much should you pay for a house in Hai Phong?
• How much should you pay for an apartment in Hai Phong?
• How much should you pay for lands in Hai Phong?

Are new builds widely available in Hai Phong right now?

New-build properties represent roughly 35% to 45% of residential listings in Hai Phong, which is higher than many foreigners expect, with the first half of 2024 alone seeing 12 new apartment projects adding about 1,338 units to the market, a 97% increase from the previous quarter.

As of early 2026, new-build supply in Hai Phong is most concentrated in Thuy Nguyen district (which is being elevated to city status and hosts mega-projects like Vinhomes Vu Yen Island), parts of Hong Bang and Duong Kinh where master-planned urban areas are expanding, and Le Chan district near the AEON Mall corridor where projects like The Minato Residence and Hoang Huy New City attract strong buyer interest.

Which neighborhoods are improving fastest in Hai Phong in 2026?

Which areas in Hai Phong are gentrifying in 2026?

As of early 2026, the top neighborhoods in Hai Phong showing the clearest signs of gentrification are Thuy Nguyen district (especially areas near the Vinhomes Vu Yen Island mega-project), pockets of Hong Bang district with better road connectivity, and selected corridors in Le Chan district near the AEON Mall and new apartment complexes.

Visible changes indicating gentrification in these Hai Phong areas include the rapid construction of modern apartment towers replacing older housing, the arrival of branded retail and coffee chains like Highlands Coffee and The Coffee House, new restaurants catering to young professionals and expats, and streetscape improvements with wider roads and better lighting.

Price appreciation in Hai Phong's gentrifying neighborhoods has been substantial, with primary apartment prices rising around 8% annually since 2019, and some areas near new infrastructure seeing 30% to 40% appreciation over the past two to three years as industrial investment and urban upgrades transformed these locations.

By the way, we've written a blog article detailing what are the current best areas to invest in property in Hai Phong.

Where are infrastructure projects boosting demand in Hai Phong in 2026?

As of early 2026, the top areas in Hai Phong where major infrastructure projects are boosting housing demand are Hai An district (near Lach Huyen deep-sea port access), the Dinh Vu - Cat Hai economic corridor, Thuy Nguyen district along new bridge and ring road connections, and coastal areas benefiting from the Sun World Cat Ba cable car development.

The specific infrastructure projects driving Hai Phong's property demand include the Lach Huyen International Gateway Port expansion (Vietnam's first deep-water port capable of handling large container ships), new expressway connections linking Hai Phong to Hanoi and Quang Ninh, the Tan Vu - Lach Huyen bridge, ring road developments, and the ongoing Cat Ba Central Bay tourism complex by Sun Group.

Most major infrastructure projects in Hai Phong are either operational or expected to complete by 2025-2027, with the port expansions already functioning and generating economic activity, while urban development projects in Thuy Nguyen and Cat Ba continue phased rollouts through 2030.

In Hai Phong, property prices typically rise 5% to 15% upon infrastructure project announcements and then see additional appreciation of 10% to 20% once projects are completed and operational, with the strongest price impacts occurring in areas where commute times to industrial zones or central districts are materially reduced.

What do locals and insiders say the market feels like in Hai Phong?

Do people think homes are overpriced in Hai Phong in 2026?

As of early 2026, sentiment among locals and market insiders in Hai Phong is mixed, with many viewing speculative land plots and older resales priced like new builds as overpriced, while properties with clean legal documentation, good commuting access to industrial zones, and clear rental demand are generally considered fairly valued.

People who argue Hai Phong homes are overpriced typically point to the rapid price increases of 80% to 120% over five years, concerns about speculative buying in peri-urban areas without completed infrastructure, and comparisons to lower historical price levels before the industrial investment boom began.

Those who believe Hai Phong prices are fair counter that the city has maintained double-digit GRDP growth for over 10 consecutive years, attracted nearly $5 billion in FDI in 2024 alone (a 42% increase), and offers substantially lower prices than Hanoi while delivering higher rental yields, making current valuations justified by economic fundamentals.

Hai Phong's price-to-income ratio remains more favorable than Hanoi or Ho Chi Minh City, with central apartment prices at VND 45 million per square meter compared to Hanoi's VND 60-100 million and HCMC's VND 65-120 million, though affordability is tightening for local buyers as prices outpace average wage growth.

What are common buyer mistakes people regret in Hai Phong right now?

The most frequently cited buyer mistake that people regret in Hai Phong is purchasing cheap peri-urban land plots without verifying official planning and zoning status, which leads to situations where buyers cannot build, cannot get title documentation, or discover their land is designated for future infrastructure projects, not residential use.

The second most common buyer mistake in Hai Phong is underestimating transaction friction, where buyers expect quick closings but face months of delays due to title checks, building compliance verification, bank approval timelines, and document preparation, especially when dealing with resale properties that have complicated ownership histories.

If you want to go deeper, you can check our list of risks and pitfalls people face when buying property in Hai Phong.

It's because of these mistakes that we have decided to build our pack covering the property buying process in Hai Phong.

How easy is it for foreigners to buy in Hai Phong in 2026?

Do foreigners face extra challenges in Hai Phong right now?

Foreigners face a moderately difficult buying process in Hai Phong compared to local buyers, primarily due to the 30% foreign ownership quota per apartment building, the requirement that properties must be in approved commercial housing projects, and the 50-year leasehold structure rather than freehold ownership.

Under Vietnam's Housing Law 2023 (effective August 2024) and Land Law 2024 (effective January 2025), foreigners can only own apartments and houses within approved commercial developments, cannot own land directly, are capped at 30% of units per condo building and 250 houses per ward-equivalent area, and receive ownership certificates for 50 years with one possible renewal.

Practical challenges foreigners commonly encounter in Hai Phong include the fact that most contracts, negotiations, and government paperwork are conducted in Vietnamese with limited English support, that developers outside major projects may be unfamiliar with foreign buyer procedures, and that the resale market for foreign-owned units remains narrow since your eventual buyer pool is limited to other foreigners or Vietnamese citizens willing to pay the quota premium.

We will tell you more in our blog article about foreigner property ownership in Hai Phong.

Do banks lend to foreigners in Hai Phong in 2026?

As of early 2026, mortgage financing for foreign buyers in Hai Phong is available but limited, with most Vietnamese banks hesitant to lend to non-residents, so the majority of foreign purchasers plan for cash transactions or bring financing from their home countries rather than relying on local mortgages.

When banks do lend to foreigners in Vietnam, typical loan-to-value ratios are 50% to 70% (meaning you need 30% to 50% down payment), interest rates range from 8% to 12% annually, and loan terms usually max out at 15 to 20 years, though these terms depend heavily on your residency status, income documentation, and the specific bank's appetite for foreign lending.

Banks in Vietnam typically require foreign mortgage applicants to provide proof of legal residence (work permit or long-term visa), income verification that often must be earned within Vietnam, a Vietnamese bank account with transaction history, and the property must have clear legal status with the Pink Book (ownership certificate) either issued or guaranteed by the developer.

You can also read our latest update about mortgage and interest rates in Vietnam.

How risky is buying in Hai Phong compared to other nearby markets?

Is Hai Phong more volatile than nearby places in 2026?

As of early 2026, Hai Phong shows moderate price volatility, sitting between the stability of Hanoi's core districts and the sharper swings of tourism-dependent markets like Quang Ninh (Ha Long) and Da Nang, because Hai Phong's demand is anchored by industrial employment rather than seasonal tourism or pure speculation.

Over the past decade, Hai Phong experienced a 20% to 25% price correction during 2022-2023 when Vietnam's broader property market faced credit tightening, compared to Hanoi's core which held steadier with single-digit corrections, and some Quang Ninh resort areas which saw drops of 30% to 40% during the same period, showing Hai Phong's middle-ground risk profile.

If you want to go into more details, we also have a blog article detailing the updated housing prices in Hai Phong.

Is Hai Phong resilient during downturns historically?

Hai Phong has shown moderate resilience during past economic downturns, with its industrial and port-driven economy continuing to generate jobs and income even when property sentiment cooled, supporting underlying housing demand better than pure tourism or speculative markets.

During the 2022-2023 property market correction, Hai Phong prices dropped 20% to 25% from peak levels in some segments, with certain speculative land plot areas falling as much as 40% to 50%, but the recovery was relatively quick, with transaction volumes rebounding over 50% by late 2024 as economic growth remained strong.

Properties in Hai Phong that historically held value best during downturns are those in central, well-established districts like Ngo Quyen and Le Chan with clean legal documentation, practical commuting access to industrial zones, and properties generating steady rental income from industrial-zone workers or expatriate managers, rather than speculative land plots in undeveloped peri-urban areas.

How strong is rental demand behind the scenes in Hai Phong in 2026?

Is long-term rental demand growing in Hai Phong in 2026?

As of early 2026, long-term rental demand in Hai Phong is growing at around 5% to 8% annually in the strongest submarkets, driven by the city's continued industrial expansion and the steady flow of managers, engineers, and skilled workers arriving to staff the 480+ FDI projects operating in Hai Phong's industrial parks and economic zones.

The tenant demographics driving Hai Phong's long-term rental demand include foreign expatriate managers and engineers working at major companies like LG, Bridgestone, and Pegatron, young Vietnamese professionals relocating for manufacturing and logistics jobs, and families moving from smaller provinces seeking better opportunities in the city's growing economy.

The neighborhoods in Hai Phong with the strongest long-term rental demand right now are Hai An district (convenient for airport and industrial park access), Ngo Quyen and Le Chan districts (central location with modern amenities and walkable lifestyle), and areas along the corridor connecting to major industrial zones where commute convenience drives tenant preferences.

You might want to check our latest analysis about rental yields in Hai Phong.

Is short-term rental demand growing in Hai Phong in 2026?

Vietnam does not have strict nationwide short-term rental regulations like some Western countries, but operators in Hai Phong must register their business, obtain appropriate licenses for tourist accommodation, and comply with fire safety and tax requirements, with enforcement varying by district and building management policies.

As of early 2026, short-term rental demand in Hai Phong's coastal areas, particularly Cat Ba Island, is growing strongly, supported by Cat Ba welcoming approximately 3.7 million visitors in 2024 with targets of 4 million for 2025, driven by the UNESCO World Heritage recognition of Ha Long Bay - Cat Ba Archipelago in 2023 and major tourism infrastructure investments by Sun Group.

Average occupancy rates for short-term rentals in Cat Ba and Hai Phong's coastal zones typically range from 45% to 55% annually, with significant seasonality that sees peak months (May through August) achieving 70% to 85% occupancy while winter months drop substantially.

Guest demographics driving Hai Phong's short-term rental demand include domestic Vietnamese tourists escaping summer heat in major cities (the majority of visitors), international backpackers and adventure tourists attracted to Cat Ba's rock climbing, kayaking, and Ha Long Bay cruises, and increasingly, foreign business travelers combining work trips with weekend excursions to the islands.

By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Hai Phong.

What are the realistic short-term and long-term projections for Hai Phong in 2026?

What's the 12-month outlook for demand in Hai Phong in 2026?

As of early 2026, the 12-month demand outlook for residential property in Hai Phong is positive, with most analysts expecting continued buyer interest supported by the city's strong economic fundamentals, improved legal framework under the 2024-2025 housing and land law reforms, and the ongoing flow of industrial investment creating jobs and income.

The key factors most likely to influence Hai Phong property demand over the next 12 months include the pace of FDI inflows into the city's industrial parks, Vietnam's overall credit conditions and bank lending appetite for real estate, and any potential global trade disruptions that could affect the export-oriented manufacturing sector that drives much of Hai Phong's economy.

Forecasted price movement for Hai Phong over the next 12 months is in the range of 5% to 10% appreciation in central districts and 3% to 5% in suburban areas, reflecting continued demand growth without the sharp speculative spikes that characterized earlier market cycles.

By the way, we also have an update regarding price forecasts in Vietnam.

What's the 3-5 year outlook for housing in Hai Phong in 2026?

As of early 2026, the 3 to 5 year outlook for housing prices and demand in Hai Phong is positive but corridor-specific, with the strongest appreciation expected in districts tied to port and logistics growth, industrial zone expansion, and tourism infrastructure upgrades, while peripheral areas without clear infrastructure timelines may lag.

Major development projects expected to shape Hai Phong over the next 3 to 5 years include the continued expansion of Lach Huyen deep-sea port capacity, the Vinhomes Vu Yen Island mega-project adding over 7,000 villas and substantial apartment supply in Thuy Nguyen, the Cat Ba Central Bay tourism complex by Sun Group, and the elevation of Thuy Nguyen district to city status with associated urban planning upgrades.

The single biggest uncertainty that could alter Hai Phong's 3 to 5 year outlook is the trajectory of Vietnam's real estate credit policy, because the market has shown it can slow sharply when banks tighten lending standards, and any sustained credit squeeze would impact both developer activity and buyer purchasing power.

Are demographics or other trends pushing prices up in Hai Phong in 2026?

As of early 2026, demographic trends are having a moderately positive impact on Hai Phong housing prices, with the city's expanding population, growing middle class, and influx of workers for industrial jobs creating steady underlying demand, though the impact is less dramatic than the industrial investment and infrastructure factors.

The specific demographic shifts most affecting Hai Phong prices include the inward migration of young professionals and skilled workers from smaller provinces seeking employment in the city's industrial parks, the formation of new households as these workers establish families, and the gradual increase in the expatriate population as more multinational companies expand operations.

Non-demographic trends pushing Hai Phong prices include the massive FDI inflows (nearly $5 billion in 2024), the government's strategic positioning of Hai Phong as a modern international logistics hub, infrastructure investments that reduce commute times and improve quality of life, and the spillover effect as Hanoi prices push middle-class buyers to seek more affordable options in the satellite city.

These demographic and investment-driven price pressures in Hai Phong are expected to continue for at least the next 5 to 10 years, as Vietnam's industrial upgrading strategy places Hai Phong at the center of northern export manufacturing and the city continues building the infrastructure and urban amenities needed to attract and retain a growing skilled workforce.

What scenario would cause a downturn in Hai Phong in 2026?

As of early 2026, the most likely scenario that could trigger a housing downturn in Hai Phong is a combination of tightened bank lending to real estate and a broader financial market confidence shock, similar to what occurred during 2022-2023 when credit restrictions and corporate bond market stress quickly rippled into property transaction activity.

Early warning signs that such a downturn might be beginning in Hai Phong would include rising days-on-market beyond 120 days for normal properties, increasing price gaps between asking and transaction prices beyond 10%, developers offering unusually aggressive payment terms or discounts above 10%, and a decline in new project launches as developers delay in response to weakening pre-sales.

Based on Hai Phong's historical patterns, a potential downturn could realistically see price corrections of 15% to 25% from peak levels in the broader market, with speculative land plots and lower-quality suburban properties experiencing sharper drops of 30% to 40%, while well-located, legally clean properties with rental income would likely experience more modest corrections of 10% to 15%.

What sources have we used to write this blog article?

Whether it's in our blog articles or the market analyses included in our property pack about Hai Phong, we always rely on the strongest methodology we can and we don't throw out numbers at random.

We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.