Khanh Hoa real estate market after merger: Nha Trang rises to international standards.
After a long period of adjustment, the real estate market in Khanh Hoa is showing clear signs of recovery in the first half of 2025. In particular, Nha Trang – the province's economic and tourism center – is emerging as a bright spot with significantly improved liquidity, a return of capital, and strengthened long-term prospects.
Transactions surge, market shifts towards real value
Data for the first six months of 2025 shows that Khanh Hoa province recorded nearly 16,200 real estate transactions, with over 9,200 transactions in the second quarter alone, an increase of approximately 32% compared to the first quarter. The total transaction value in the second quarter exceeded VND 11,700 billion, clearly reflecting the market's recovery despite the limited supply of new properties.
A noteworthy point is the change in transaction quality. Despite the lack of new projects meeting the launch criteria, the market remains vibrant thanks to increased real demand. Short-term speculative transactions are gradually shrinking, replaced by capital flowing towards land plots with clear legal status, strategic locations, and long-term development potential.
In particular, although the number of land plot transactions tended to decrease slightly, the total transaction value increased dramatically, indicating that investors are prioritizing high-value products instead of small-scale speculation. This is considered a positive sign, reflecting the "health improvement" of the Khanh Hoa real estate market.
In the former Ninh Thuan area, despite the smaller market size, liquidity also recorded a significant improvement with over 1,400 transactions, mainly focusing on suburban land plots, townhouses, and new urban projects. Prices remain relatively low, ranging from 8-16 million VND/m², attracting both homebuyers and medium-term investors.
Provincial Mergers, New Legal Frameworks, and Infrastructure Drive the Market
One of the key drivers boosting the Khanh Hoa real estate market in Q2 2025 is the administrative reorganization and provincial merger, which officially took effect at the beginning of July. This information created a positive psychological effect, triggering a wave of transactions, especially in areas with clear planning and directly benefiting from the expanded development space.
Simultaneously, amended laws related to housing, land, and real estate business, effective from 2025, have helped resolve many long-standing obstacles. Local authorities are also proactively reviewing and supporting the restart of eligible projects, gradually bringing quality supply back to the market.
Regarding infrastructure, Khanh Hoa is accelerating investment in strategic projects. Expanding transportation routes connecting Nha Trang city center with new development areas not only helps to reduce urban density but also opens up large land reserves for real estate development in the medium and long term. Projects connecting Cam Ranh International Airport with the city center are also being studied to increase regional connectivity and reduce pressure on the coastal axis.
Infrastructure investment is becoming a crucial lever, increasing the value of real estate products and creating a foundation for sustainable development instead of rapid growth.
Tourism recovery – a driving force for real estate
As one of the leading tourism destinations in the country, Khanh Hoa continues to benefit greatly from the recovery of the "smoke-free industry." After a period of decline due to the pandemic, local tourism is gradually regaining its growth momentum, with Nha Trang playing a key role.
The resurgence of tourists has not only helped revive service and accommodation activities but also created a positive ripple effect on the real estate market. Segments such as apartments, rental properties, resort properties, and commercial real estate have all seen higher levels of interest compared to the same period last year.
Notably, Khanh Hoa is focusing on improving the quality of tourism, concentrating on attracting high-spending international tourists, rather than chasing quantity. This strategy is expected to create a sustainable foundation for the real estate market, especially in the central and coastal areas of Nha Trang.
Tourism in Nha Trang city (Source: Collected.)
Nha Trang aims to become an international tourist city
In the overall picture, Nha Trang is being identified as a development hub, with the goal of becoming an international tourist city in the future.) According to the plan for 2030, Khanh Hoa will become a centrally-governed city, developing based on its advantages in coastal areas, tourism, and high-quality services.
As the political, economic, and cultural center of the province, Nha Trang is planned to elevate the urban space along the coast, islands, and peninsulas, while preserving the landscape and promoting sustainable development. The long-term vision aims for a smart city with its own unique identity, capable of competing with leading destinations in the Asian region.
This orientation is creating great expectations for the Nha Trang real estate market, especially for products associated with the urban center, tourism, and high-end services.
The "golden" time for medium- and long-term investors
The combination of factors: provincial merger, streamlined legal framework, strong infrastructure connectivity, and increasing real demand is bringing the Khanh Hoa real estate market into a new development cycle. Among them, Nha Trang stands out not only as a "livable city" but also as a promising long-term investment destination.
With prices still in the process of being established and the market not yet overheating, this is considered a favorable time for medium- and long-term investors.