Sector Insight

Update on real estate sector

Residential real estate sector in 2025 is recovering with positive spillover effects in areas with real demand, along with supporting factors: (1) low interest rates stimulate demand from developers and homebuyers, leading to positive growth in real estate credit; (2) increased public investment in infrastructure development and strong growth in FDI into the real estate sector; (3) streamlined legal frameworks and strong supply recovery. 

Prospects of the real estate industry in 2026

Real estate market outlook for 2026: (1) interest rates for home loans and real estate project development increase; (2) credit control in the real estate sector leads to a slowdown in market transactions, and bond issuance is expected to be a channel for raising additional capital; (3) however, legal easing helps increase overall market supply, reducing pressure on capital costs for real estate development businesses.

Stock pick

VHM, PDR, NLG, KDH, DXG