Vietnam maintains fast-growth position among Southeast Asia-6

According to the fourth annual Southeast Asia Outlook report by Cushman & Wakefield, Singapore, Malaysia, Thailand, and Vietnam benefit from robust trade corridors and well-developed manufacturing ecosystems, while Indonesia and the Philippines are supported by resilient domestic consumption.

In 2025, data centres emerged as the most valuable real estate asset class for investment in Southeast Asia. Johor continued to attract spillover demand from Singapore, while Thailand, Indonesia, the Philippines, and Vietnam remained supply-constrained markets with significant growth potential. Recent large-scale investment commitments underscore sustained investor confidence in the region’s digital infrastructure prospects.

Notably, Vietnam recorded the highest real GDP growth among the Southeast Asia-6 in 2025, reaching 8%, significantly higher than the pre-pandemic average of 7.1%.

The growth was driven by exports, alongside a strong rebound in manufacturing and service sectors, reflecting stable global demand and Vietnam’s increasingly prominent role in regional production and trade networks.

At the same time, stable domestic consumption continued to highlight the long-term consumption potential of the economy. Manufacturing and trade sectors benefited from the trend of supply chain diversification and foreign investment in export-oriented industries.

In the near future, the economic growth is expected to moderate slightly. Population growth has slowed to 0.6%, while lending rates at commercial banks tend to rise towards the end of the year, potentially exerting short-term pressure on housing demand and consumer spending.

However, Vietnam’s economy is still projected to grow by 6.3% in 2026, maintaining its position as one of the fastest-growing economies in the Southeast Asian-6 group.

From a real estate perspective, the industrial segment is expected to remain the key market driver. Meanwhile, the retail real estate segment is anticipated to flourish in 2026, with retail sales projected to increase by over 15%, thereby boosting demand for modern retail spaces in major cities.

Overall, Southeast Asia’s economy is forecast to grow by 4.3% in 2026, maintaining its position as one of the fastest-growing regions globally. Total personal consumption across Southeast Asia (excluding Singapore) is expected to reach US$ 5 trillion by 2035, growing at an annual rate of around 8%.

According to Mr. Anshul Jain, Head of India and Southeast Asia and in charge of Office and Retail for Asia Pacific at Cushman & Wakefield, the region’s growth momentum is driven not only by investment demand but also by expanding consumer markets, a young workforce, and ambitious infrastructure development programs.