Vietnam’s real estate bond market continued to expand strongly in the first nine months of 2026, with issuance reaching VND149.5 trillion ($5.7 billion), up 126% year on year, according to VIS Rating.
The average bond issuance interest rate stood at around 11.4%, an increase of 110 basis points from the same period last year.
VIS Rating expects real estate bond issuance to remain high as developers face refinancing needs for VND167 trillion of property bonds maturing during the fourth quarter of 2026 and 2027, alongside funding requirements for major development projects.
Meanwhile, housing policy in the first half of 2026 shifted towards affordable rental housing and greater private-sector participation. Key measures include incentives for rental housing projects, exemptions from land-use fees, infrastructure support and the allocation of land for rental housing in urban development plans.
The Government is also considering measures to reduce input costs for developers, including reviewing mechanisms for determining land-use fees and further streamlining approval procedures to accelerate project implementation.
However, housing demand weakened in the second quarter as mortgage rates remained high and supply increased significantly.
Real estate credit growth slowed to 8.6% in the first half of 2026 as regulators continued efforts to curb excessive expansion.
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