Vietnam ranks among top 10 most improved global real estate markets

Vietnam has made significant strides in improving its real estate market transparency, ranking among the top 10 most improved markets globally according to the 2026 Global Real Estate Transparency Index (GRETI) released by JLL. Vietnam is currently ranked 50th out of 88 countries and territories, with a transparency score of 3.15, placing it in the Semi-Transparent category. This ranking is notable as it marks a substantial improvement from Vietnam's previous classification in the Low Transparency group before 2020.

The GRETI evaluates 88 markets based on 256 criteria across six categories, including Performance Measurement, Regulatory and Legal, Market Fundamentals, Transaction Process, Listed Vehicle Governance, and Sustainability. The index serves as a crucial reference for investors, lenders, and corporate occupiers, as market transparency directly impacts investment risk and opportunities.

The improvement in Vietnam's transparency score can be attributed to several key reforms implemented since 2016. These include the country's accession to the Trans-Pacific Partnership, the proposal for a national real estate database, the adoption of the amended Land Law, Housing Law, and Real Estate Business Law, and the implementation of the new Price Law requiring appraisers to hold professional certifications.

Additionally, Vietnam has completed the national land database by the end of 2026, with the goal of further enhancing transparency.

The upgrading of Vietnam's real estate market transparency is expected to have a significant impact on the country's real estate sector. Markets with high transparency levels, such as the Highly Transparent group, attract over 98% of total global commercial real estate investment, compared to only about 1.3% in the Semi-Transparent group where Vietnam currently stands. By advancing its transparency efforts, Vietnam can tap into this substantial investment potential and strengthen international investor confidence.

Several factors are expected to contribute to Vietnam's continued improvement in market transparency. These include the ongoing digitization of land records, the establishment of a unified nationwide real estate registration system, the adoption of international valuation standards, and the publication of data on commercial real estate.

The JLL report identifies six key areas for Vietnam's roadmap to achieve transparent market status, focusing on land record digitization, a unified real estate registration system, international valuation standards, and the publication of commercial real estate data.