Vietnam’s real estate market has been growing rapidly over the past few years, driven by a growing economy, increasing foreign investment, and a rising middle class. This growth is evident in the market’s three key segments: residential, commercial, and industrial, which are expanding quickly and providing ample opportunities for investment and development.

Developers like Vingroup, Novaland, and FLC Group are taking advantage of this trend by building more affordable housing projects to address the surging demand, especially in major cities like Hanoi and Ho Chi Minh City. Vinhomes, a subsidiary of Vingroup, recently made headlines by raising $1.35 billion in Vietnam’s biggest-ever initial public offering (IPO).

These funds will be used to finance the company’s expansion plans, including the development of new residential and commercial projects. With these developments, Vinhomes and other developers will help to meet the growing demand for quality properties in Vietnam and play a crucial role in driving the continued growth of the country’s real estate industry in the years to come.

The growth of Vietnam’s PropTech industry is evident from the numbers. According to TechSciResearch, the market was valued at USD 446.08 million in 2021. Moreover, a report by JLL Research projects that the industry is expected to surge to a value of USD 25 billion by 2025. This highlights the tremendous potential and opportunities for investment and development in the country’s burgeoning PropTech market.

Now that we have a better understanding of the proptech landscape in Vietnam, let’s take a closer look at some of the companies that are leading the way in changing the game for the industry.

Rever

Rever is a promising proptech startup that is revolutionizing the way real estate properties are viewed by utilizing the power of virtual reality (VR) technology. Rever offers immersive 3D tours of real estate properties that can be accessed from anywhere in the world, making it convenient for potential buyers or renters to view properties without the need to physically visit the location. This not only saves time and money for both buyers and sellers, but also offers a unique and interactive experience for users, allowing them to virtually walk through the property and get a feel for the space.

Rever’s platform is user-friendly and easily accessible. It allows users to view properties in high definition and with incredible detail, which makes it easier to assess the property and make informed decisions. In addition, Rever’s VR tours offer a level of convenience that is unprecedented in the real estate industry, as they eliminate the need for in-person property visits, which was especially beneficial during the COVID-19 pandemic.

Moreover, the use of virtual reality technology can also help reduce the environmental impact of real estate marketing, by decreasing the need for physical tours and printed marketing materials. Rever’s innovative approach to property viewing is not only convenient and efficient, but also sustainable and environmentally friendly. As such, Rever’s platform is quickly gaining popularity among both buyers and sellers, making it a promising addition to Vietnam’s booming PropTech industry.

In its latest funding round in 2021, Rever raised an impressive US$10.2 million from Mekong Enterprise Fund IV (MEF IV), bringing its total funding to US$16.5 million.

JupViec

JupViec is a home cleaning and maintenance platform based in Vietnam. The company was founded in 2012 and has quickly become one of the leading players in the market. JupViec’s platform connects homeowners with service providers, making it easier for people to find reliable and affordable cleaning and maintenance services for their homes.

The platform offers a range of services, including cleaning, repairs, and maintenance. Customers can easily book a service provider through the platform and manage their booking online. The service providers are carefully selected and trained to ensure a high standard of service quality.

JupViec has been able to rapidly expand its business due to the growing demand for home cleaning and maintenance services in Vietnam.

Overall, JupViec is a promising proptech startup that is transforming the home cleaning and maintenance industry in Vietnam. With its convenient platform and high-quality service, the company is well-positioned for continued growth in the coming years.

LuxStay

Luxstay is a vacation rental platform that offers a wide range of properties across Vietnam. The company was founded in 2017 and has quickly become a popular choice for travelers seeking comfortable and affordable accommodations.

Luxstay’s mission is to provide travelers with high-quality vacation rentals that offer more space and amenities than traditional hotels. The platform offers a diverse range of properties, including apartments, villas, and homestays, in popular destinations across Vietnam.

One of the key features of Luxstay is its focus on safety and security. All properties are carefully vetted and verified by Luxstay’s team of experts, ensuring that guests can enjoy a worry-free vacation. Additionally, the platform offers a secure payment system, giving guests peace of mind when booking their stay.

Another important aspect of Luxstay is its commitment to sustainability. The company has implemented a range of environmentally friendly initiatives, such as reducing plastic waste and promoting energy conservation. This has earned Luxstay recognition as a responsible and eco-friendly company.

Luxstay’s user-friendly platform allows travelers to easily search for and book their ideal vacation rental. The platform offers a range of services, including property listings, booking management, and property management, making it an all-in-one solution for both property owners and guests.

Luxstay, a Vietnamese vacation rental platform, raised a significant amount of capital in its Series A funding round in 2018. The round was led by GS Shop, a South Korean investment firm. The exact amount of funding raised by Luxstay in the Series A round is undisclosed, but it has been reported to be in the range of $3-4 million USD. This funding has allowed Luxstay to continue expanding its operations and providing high-quality vacation rental options to travelers across Vietnam.

Overall, Luxstay is a reliable and reputable vacation rental platform that offers a wide range of properties in Vietnam, with a strong focus on safety, sustainability, and user experience.

Homedy

Homedy is a Vietnam-based real estate marketplace that connects buyers, sellers, and renters with properties throughout the country. Founded in 2015, the platform offers a range of services to make the real estate market more accessible and affordable for all parties involved. These services include property listings, virtual property tours, and real estate transactions.

One of Homedy’s main goals is to simplify the real estate process by providing a one-stop-shop for buyers, sellers, and renters. This allows users to easily search for properties that meet their needs, connect with potential buyers or renters, and complete transactions quickly and efficiently.

Homedy also offers virtual property tours, allowing potential buyers or renters to view a property remotely, which can save time and resources. This feature has become increasingly important in the wake of the COVID-19 pandemic, as more people are looking to limit their in-person interactions.

Overall, Homedy is a reliable and reputable platform for anyone looking to buy, sell, or rent property in Vietnam. The platform’s user-friendly interface and range of services make it an all-in-one solution for those looking to navigate the country’s real estate market.

Citics

Vietnam’s proptech industry is rapidly growing, and one of the startups that have made a significant impact is Citics. Established in 2018, Citics is dedicated to developing an intuitive real estate data platform by digitalizing and unifying numerous data sources to improve real estate dealings. The platform enables users to value their properties accurately, lease, and sell them.

Citics has attracted the attention of both local and foreign investors, including Nextrans, a Vietnamese company, South Korean firm, The Ventures, and Singapore-based Vulpes Investment Management. In March 2021, Citics announced it had secured a $1 million pre-series A funding round, which it plans to use to develop its DaaS and SaaS products and expand business operations throughout Vietnam.

Citics’ innovative approach to real estate data management aligns with Vietnam’s proptech industry’s growing demand. The increasing demand for real estate services has fueled the growth of proptech startups, and Citics is at the forefront of this transformation. The company’s digital solutions provide a much-needed approach to traditional real estate, helping to simplify real estate transactions, boost transparency, and increase efficiency in the industry. With further investment, Citics is well-positioned to continue its expansion and growth in the Vietnamese real estate market