JLL Vietnam’s November 2025 market snapshot spotlights Hai Phong’s rapid transformation into a focal point on Vietnam’s real estate map following its merger with Hai Duong. Now the nation’s third-largest city with a population surpassing 4.6 million and a GRDP near $25 billion, Hai Phong is leveraging its strategic location to drive industrial, logistics, and urban development—fueled by an expanding Free Trade Zone (6,200 ha) and robust FDI inflows exceeding $50 billion.

Industrial real estate is booming, with supply rising to over 4,100 ha and occupancy rates above 85%. Ready-built factories and warehouses continue to expand, supporting vibrant sectors such as high technology, logistics, and electronics. On the residential side, leading projects have pushed apartment and landed house supply up to 7,700 and 13,000 units, respectively, with primary sales surpassing 80% in many developments, and prices remaining attractive compared to other major cities.

Supported by modern infrastructure, investment incentives, and a talented workforce, Hai Phong is positioned for sustainable growth across all real estate segments. JLL expects the city’s dynamic ecosystem to reinforce its role as a leading industrial and residential hub in Vietnam for years to come.

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