In Vietcombank Securities’ (VCBS) 2025 Residential Real Estate Business Results Forecast Synthesis Report, VCBS predicts that the final two quarters of 2025 will not yield high results. This is primarily due to the focus on legal procedures, capital mobilization, project implementation, and sales throughout the year.
However, many companies have seen significant improvements in sales volume and cash flow. There remains potential for stock price increases. Priority is given to companies with projects in the Southern region, where property prices still have room to grow over the next year.
VCBS forecasts Q3/2025 business results for the residential real estate group.
Notably, among the nine residential real estate companies mentioned by VCBS, Phat Dat (PDR) is projected to achieve outstanding growth. Revenue is expected to surge by 19,041% to 503 billion VND, with post-tax profit reaching 63 billion VND (+23%).
VCBS attributes this performance to the handover of 300 land plots at the Bac Ha Thanh project, compared to a handover gap in the same period in 2024. Additionally, the company has completed the transfer procedures for the Thuan An 1 & 2 projects (Binh Duong), with payment and profit recognition expected in early 2026.
Another standout performer is Ba Ria – Vung Tau Housing Development (HDC), with estimated Q3/2025 revenue of 585 billion VND (+336%), driving post-tax profit to 460 billion VND (+3,185%). HDC’s improved results stem from a 1.6 trillion VND payment from the divestment of the Dai Duong project in 2025 (with the remaining 400 billion VND to be received in 2026). The company also launched the NOXH Phu My and Ngoc Tuoc 2 projects, capitalizing on Vung Tau’s real estate market entering a new growth phase, supported by infrastructure projects and Sun Group’s mega-projects.
Southeast Region Real Estate Credit Surges by 10.9%
By the end of August 2025, the total outstanding credit for real estate loans in the Southeast region (Ho Chi Minh City and Dong Nai Province) reached 1,465 trillion VND, marking a 10.9% increase compared to the end of the previous year and a 16.7% rise year-on-year.
The Long and Winding Road to Recovery: Real Estate’s Nine-Month Journey Back to the Starting Line
As of Q3, several residential real estate firms have exceeded their annual targets. However, many are still lagging behind. A significant number of companies reported declining profits, causing the industry’s overall performance to regress compared to the same period last year.
The Real Estate Market Sees a Trio of M&A Deals in the Last Quarter
The residential real estate market is cautiously progressing. Amidst economic fluctuations and a wait-and-watch approach adopted by potential buyers, investors are keenly assessing market sentiment as they unveil new projects.
The Benefits of Using a Brokerage Firm for Real Estate Transactions
The real estate market is a bustling and vibrant arena, full of potential rewards but also rife with risks and challenges. It is imperative for anyone venturing into this landscape, especially those brave souls opting to sell or buy property independently, to arm themselves with comprehensive knowledge and expertise. This empowers them to navigate the intricacies of the market and make enlightened decisions.
