Vietnam’s Real Estate Market Shifts Toward Competition Based on Asset Quality
As Vietnam’s real estate market evolves, asset management, sustainability and data-driven decision-making are becoming increasingly important to long-term asset performance.
On 19 October 2026, Diễn đàn Doanh nghiệp published an interview with Mr. Nguyen Thanh Tam, Principal of NAI Vietnam, examining how competition in Vietnam’s real estate market is shifting beyond location and rental pricing towards asset quality, operational performance and long-term value creation.
In the interview, Mr. Tam discussed the capabilities that real estate businesses need to strengthen to remain competitive, highlighting professional asset management, green building standards, data infrastructure and technology adoption as key priorities for the sector.
From Project Development to Asset Management
As Vietnam’s real estate market matures, the ability to develop a quality project is no longer sufficient on its own. Long-term competitiveness increasingly depends on how effectively an asset is managed, operated and positioned to meet changing occupier requirements.
As Mr. Tam explained:
Developing a good project is only the first step.
Mr. Nguyen Thanh Tam, Principal, NAI Vietnam
He emphasised that the value of a commercial real estate asset over the following 10–20 years depends significantly on its ability to attract and retain tenants, optimise operating costs, maintain occupancy, upgrade facilities and manage cash flow effectively.
This perspective highlights the importance of a more integrated approach to real estate, in which market research, investment decisions and operational management work together throughout the asset lifecycle. Understanding occupier demand before developing a product, rather than seeking tenants after completion, is becoming increasingly important in a more competitive market.
For property owners and investors, professional asset and property management can help maintain asset relevance, improve operating efficiency and support long-term value preservation.
Green Buildings: From Market Differentiator to Business Imperative
Sustainability is also becoming a more significant consideration in commercial real estate decisions, particularly as multinational occupiers incorporate environmental objectives into their corporate strategies.
When selecting offices, factories or logistics facilities, occupiers increasingly assess energy efficiency, indoor environmental quality, emissions measurement and building operating standards alongside rental costs. Certifications such as LEED, LOTUS, EDGE and WELL can strengthen a property’s position when competing for tenants, but certification alone may not be enough to demonstrate long-term performance.
Mr. Tam highlighted this shift in the interview:
The green transition should not be viewed merely as a marketing activity.
Mr. Nguyen Thanh Tam, Principal, NAI Vietnam
He noted that tenants and investors are likely to place greater emphasis on measurable operational outcomes, including energy and water consumption, indoor air quality, emissions and the efficient use of space.
From an investment perspective, these factors have direct commercial implications. Energy-efficient buildings can help reduce operating costs, maintain their appeal to quality occupiers and mitigate the risk of obsolescence. Conversely, properties that fail to adapt to evolving environmental standards may face increasing pressure to upgrade and remain competitive.
The implication is clear: sustainability is becoming an integral part of asset management and long-term investment strategy, rather than a standalone marketing claim.
Data and Technology: Improving Real Estate Decision-Making
Digitalisation presents another opportunity to strengthen real estate performance, from market analysis and investment evaluation to day-to-day property operations.
However, Mr. Tam emphasised that successful digital transformation begins with identifying the information needed to make better decisions, rather than simply adopting new software.
Digital transformation in real estate should not begin with the question, ‘Which software should we buy?’ but rather, ‘What data do we need to make better decisions?’
Mr. Nguyen Thanh Tam, Principal, NAI Vietnam
In investment and brokerage activities, reliable and regularly updated market data can improve visibility into supply, demand, rental rates, transactions, tenant activity, absorption and capital flows. Better data can support more timely decisions and reduce reliance on individual experience alone.
At the property level, digital tools can support the monitoring of lease agreements, revenue, receivables, occupancy, operating expenses and cash flow forecasts. Building Management Systems (BMS), the Internet of Things (IoT) and connected sensors can also help optimise energy consumption, air conditioning, security and equipment maintenance.
- Supply
- Demand
- Rental rates
- Transactions
- Tenant activity
- Absorption
- Capital flows
- Lease agreements
- Revenue
- Receivables
- Occupancy
- Operating expenses
- Cash flow forecasts
- Building Management Systems (BMS)
- Internet of Things (IoT)
- Connected sensors
- Artificial intelligence
Artificial intelligence offers further opportunities to support market analysis, contract review, financial modelling, demand forecasting and administrative processes. Yet these applications depend on the quality, structure and consistency of the underlying data.
The ultimate objective is not simply to introduce more software or reporting dashboards. It is to connect data, people and processes within an effective management framework, enabling businesses to improve decision-making, reduce operational inefficiencies and enhance productivity across their real estate portfolios.
Implications for Vietnam’s Commercial Real Estate Market
The perspectives shared in the interview reflect a broader shift in the commercial real estate sector: asset performance is increasingly assessed through a combination of location, occupier demand, operational efficiency, sustainability and the ability to generate durable income.
For owners and investors, this places greater importance on understanding market fundamentals, maintaining asset competitiveness and applying professional management practices throughout the property lifecycle. For occupiers, building performance, operating costs and workplace quality are becoming increasingly relevant alongside rental considerations.
As Vietnam’s real estate market continues to mature, businesses that integrate market intelligence, effective asset management and measurable operational improvements will be better positioned to respond to evolving occupier expectations and investment requirements.
NAI Vietnam provides commercial real estate services across sales and leasing, consulting and market research, asset and property management, and capital markets and investment advisory. These capabilities support clients in evaluating market opportunities, making informed property decisions and managing real estate assets in an increasingly performance-driven market.
- Sales and leasing
- Consulting and market research
- Asset and property management
- Capital markets and investment advisory
Read the Original Interview
This article draws on the interview with Mr. Nguyen Thanh Tam, Principal of NAI Vietnam, published by Diễn đàn Doanh nghiệp on 19 October 2026.
Read the original article in Vietnamese: “Bất động sản bước vào cuộc cạnh tranh về chất lượng tài sản”→Note: Quotations in this English-language article are translated from the original Vietnamese interview.
