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Vietnamese (HOSE) Real Estate Sector Analysis
UpdatedJul 10, 2025
DataAggregated Company Financials
Companies62
- 7D3.3%
- 3M42.2%
- 1Y58.6%
- YTD60.4%
Over the last 7 days, the Real Estate industry has risen 1.7%, driven by gains from Vinhomes of 7.6%. In the last 12 months, the industry was up 55%. Looking forward, earnings are expected to remain mostly flat in the next few years.
Sector Valuation and Performance
Has the Vietnamese Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 10 Jul 2025 | ₫1102.3t | ₫454.1t | ₫50.6t | 26.9x | 21.8x | 2.4x |
| Sat, 07 Jun 2025 | ₫1056.9t | ₫455.5t | ₫50.2t | 25x | 21x | 2.3x |
| Mon, 05 May 2025 | ₫835.0t | ₫453.1t | ₫49.2t | 24.5x | 17x | 1.8x |
| Wed, 02 Apr 2025 | ₫827.2t | ₫370.0t | ₫47.1t | 30.3x | 17.6x | 2.2x |
| Fri, 28 Feb 2025 | ₫696.2t | ₫367.7t | ₫47.0t | 32.5x | 14.8x | 1.9x |
| Sun, 26 Jan 2025 | ₫668.7t | ₫293.5t | ₫37.1t | 32.3x | 18x | 2.3x |
| Tue, 24 Dec 2024 | ₫682.4t | ₫298.7t | ₫37.9t | 23.3x | 18x | 2.3x |
| Thu, 21 Nov 2024 | ₫696.6t | ₫298.6t | ₫37.8t | 19.7x | 18.4x | 2.3x |
| Sat, 19 Oct 2024 | ₫711.8t | ₫282.4t | ₫32.0t | 30.6x | 22.2x | 2.5x |
| Mon, 16 Sep 2024 | ₫713.5t | ₫282.0t | ₫39.1t | 31.8x | 18.2x | 2.5x |
| Wed, 14 Aug 2024 | ₫662.7t | ₫278.6t | ₫38.8t | 29.7x | 17.1x | 2.4x |
| Fri, 12 Jul 2024 | ₫697.1t | ₫287.6t | ₫42.1t | 24.7x | 16.6x | 2.4x |
| Sun, 09 Jun 2024 | ₫715.9t | ₫289.0t | ₫42.5t | 24.2x | 16.8x | 2.5x |
| Tue, 07 May 2024 | ₫712.3t | ₫291.2t | ₫43.3t | 23x | 16.4x | 2.4x |
| Thu, 04 Apr 2024 | ₫774.5t | ₫331.1t | ₫48.3t | 35.1x | 16x | 2.3x |
| Sat, 02 Mar 2024 | ₫753.0t | ₫328.7t | ₫47.6t | 32.5x | 15.8x | 2.3x |
| Mon, 29 Jan 2024 | ₫720.1t | ₫367.0t | ₫54.5t | 20.5x | 13.2x | 2x |
| Wed, 27 Dec 2023 | ₫722.3t | ₫371.6t | ₫54.3t | 20.5x | 13.3x | 1.9x |
| Fri, 24 Nov 2023 | ₫689.2t | ₫372.3t | ₫54.2t | 21.5x | 12.7x | 1.9x |
| Sun, 22 Oct 2023 | ₫716.8t | ₫341.5t | ₫60.6t | 20.5x | 11.8x | 2.1x |
| Tue, 19 Sep 2023 | ₫805.0t | ₫341.6t | ₫60.6t | 17.9x | 13.3x | 2.4x |
| Thu, 17 Aug 2023 | ₫970.0t | ₫341.2t | ₫61.0t | 19.7x | 15.9x | 2.8x |
| Sat, 15 Jul 2023 | ₫807.7t | ₫277.9t | ₫53.3t | 20x | 15.2x | 2.9x |
| Mon, 12 Jun 2023 | ₫796.1t | ₫277.7t | ₫53.2t | 20.9x | 15x | 2.9x |
| Wed, 10 May 2023 | ₫745.9t | ₫277.7t | ₫53.0t | 23x | 14.1x | 2.7x |
| Fri, 07 Apr 2023 | ₫772.7t | ₫239.2t | ₫48.5t | 21.9x | 15.9x | 3.2x |
| Sun, 05 Mar 2023 | ₫692.1t | ₫239.1t | ₫48.3t | 17.8x | 14.3x | 2.9x |
| Tue, 31 Jan 2023 | ₫798.7t | ₫225.9t | ₫43.8t | 15.8x | 18.3x | 3.5x |
| Thu, 29 Dec 2022 | ₫750.1t | ₫232.2t | ₫46.1t | 10.1x | 16.3x | 3.2x |
| Sat, 26 Nov 2022 | ₫786.5t | ₫232.2t | ₫46.1t | 11.4x | 17.1x | 3.4x |
| Mon, 24 Oct 2022 | ₫918.3t | ₫233.0t | ₫40.0t | 13x | 22.9x | 3.9x |
| Wed, 21 Sep 2022 | ₫1085.6t | ₫233.9t | ₫40.0t | 18x | 27.1x | 4.6x |
| Fri, 19 Aug 2022 | ₫1119.7t | ₫233.7t | ₫42.4t | 19.4x | 26.4x | 4.8x |
| Sun, 17 Jul 2022 | ₫1053.8t | ₫279.7t | ₫49.0t | 17.8x | 21.5x | 3.8x |
Price to Earnings Ratio
21.5x
Current Industry PE
- Investors are optimistic on the Vietnamese Real Estate industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 21.4x which is higher than its 3-year average PE of 17.1x.
- The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 2.4x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 18% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the Vietnamese Real Estate sector?
| VN Market | 3.46% | |
| Real Estate | 3.34% | |
| Real Estate | 3.34% | |
| Specialized REITs | 1.36% | |
| REITS | 0% | 0 |
Industry PE
- Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 17.1x.
- Analysts are expecting annual earnings decline of 0.5%, which is lower than the prior year's growth of 0.2% per year.
- Investors are most pessimistic about the Real Estate industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 17.1x.
Forecasted Growth
- Despite it being negative, analysts are least pessimistic on the Real Estate industry since they expect its earnings to decline by only 0.5% per year over the next 5 years, which isn't as bad as the other industries.
- This is a reversal from its past annual earnings growth rate of 0.2% per year.
- In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| VHM Vinhomes | ₫86.00k | 12.7% +₫39.8t | 123.7% | PE10.5x | |
| VIC Vingroup | ₫101.60k | 7.5% +₫26.4t | 147.2% | PE36.4x | |
| VRE Vincom Retail | ₫28.45k | 13.6% +₫7.7t | 37.4% | PE15.4x | |
| BCM Investment and Industrial Development Corporation - JSC | ₫68.60k | 3.3% +₫2.3t | 6.0% | PE30.6x | |
| KDH Khang Dien House Trading and Investment | ₫30.85k | 5.1% +₫1.5t | -12.0% | PE38.6x |