Digital Data: A Foundation for Greater Transparency in Viet Nam’s Real Estate Market

Su Ngoc Khuong

Senior Director
Investment
Savills Vietnam

Answer:

Digitalisation is not solely about enabling faster access to information for the public. Its broader objective is to establish a unified data infrastructure capable of integrating land, planning, construction, finance, taxation, and other related datasets. 

While many databases have already been digitised, they continue to operate in silos, lacking interoperability and consistent updates. This remains the most significant bottleneck in the digital transformation of Viet Nam’s real estate sector. An effective data system must be a “living” ecosystem that is continuously updated and capable of sharing information across stakeholders, rather than a collection of isolated databases.

Su Ngoc Khuong

Senior Director

Investment

Savills Vietnam

Answer:

Real estate is inherently a market characterised by significant information asymmetry, where sellers often possess substantially more information than buyers. A transparent data system would help narrow this gap, reducing the unforeseen costs and risks that buyers may otherwise encounter. 

For financial institutions, comprehensive information on planning, legal status, and asset history would support more accurate property valuations, thereby mitigating lending risks. 

From an investment perspective, access to transparent information can lower due diligence costs, improve decision-making efficiency, and enhance the market’s attractiveness to domestic and international capital. Transparency is also a key criterion considered by global investors when evaluating market opportunities. 

Over the long term, digital data infrastructure will not only benefit the real estate sector but also strengthen the forecasting and governance capabilities of the broader economy. 

Su Ngoc Khuong

Senior Director

Investment

Savills Vietnam

Answer:

Building an effective data ecosystem requires coordinated participation from three key stakeholder groups. 

First, the government plays a pivotal role in establishing a unified data infrastructure while continuing to refine governance frameworks, access rights, and data ownership protections. 

Second, businesses need to adopt a new approach to data management. In practice, many companies still regard data as a proprietary asset and remain reluctant to share it, resulting in fragmented “information islands.” With appropriate data-sharing mechanisms in place, businesses can gain access to richer datasets and leverage technologies such as artificial intelligence to enhance analytics and decision-making. 

Third, public trust is essential. Any data system can only achieve its full potential if citizens are confident that their personal information is protected and governed by transparent oversight mechanisms. 

Furthermore, data must be updated in real time to accurately reflect market developments, rather than functioning merely as static repositories of information.  

Su Ngoc Khuong

Senior Director

Investment

Savills Vietnam

Answer:

If Viet Nam succeeds in establishing a comprehensive and integrated digital data infrastructure over the next five to ten years, it will gain a significant competitive advantage in attracting investment capital and enhancing economic competitiveness. 

For the real estate market, access to transparent data will enable investors to better assess planning frameworks, legal conditions, development trends, and location-specific risks. As transparency improves, both risk assessment costs and the cost of capital are likely to decline, contributing to more efficient project development and greater affordability of real estate products. 

Ultimately, real estate is expected to be one of the sectors that benefits most directly from the completion of Viet Nam’s national digital data platform.