Vietnamese nationals have emerged as the fourth-largest group of foreign residential property buyers in Australia, following China, Hong Kong and Singapore, reflecting the growing interest in overseas investment and housing linked to education and migration.
Recent data from Australia’s Foreign Investment Review Board revealed that international buyers snapped up over 5,000 residential properties in 2022–23, with transactions valued at approximately A$4.9 billion (US$3.1 billion). Purchases by Vietnamese nationals rose by 15% during this timeframe, underscoring their growing footprint in the Australian property sector.
Vietnamese buyers now account for between 8% and 10% of all off-the-plan apartment sales across Australia. These pre-construction properties are particularly attractive to foreign investors, as they are not subject to the same restrictions on existing housing. Current regulations prohibit foreign ownership of already-built homes, steering international demand toward new developments.
Victoria, home to a large Vietnamese community and the most Vietnamese international students in Australia remains a preferred destination. In 2024, the number of apartments purchased by Vietnamese buyers in the state grew by 10–12% year-on-year. Properties priced between US$800,000 and US$1.2 million are especially popular, aligning with the needs of affluent families investing in their children's education or future migration.
A recent CBRE report analysing foreign property investment trends in the Asia-Pacific shows that Vietnamese buyers are motivated primarily by education and accommodation purposes (60%), followed by investment (30%) and migration (10%). Melbourne, Victoria’s capital, has become a focal point for this demand, driven by its urban lifestyle, economic resilience, and multicultural environment. The city has also established itself as a hub for international students, with over one million enrolments recorded last year.
However, the rising population, projected to grow by 1.8% annually over the next five years, threatens to widen the housing supply gap.
Melbourne alone is expected to face a shortage of around 28,000 apartments by 2028, with housing prices forecast to surge from mid-2026 following the end of a land transfer duty concession in Victoria.
Despite a 10% tax on off-the-plan purchases for foreigners, Australia remains relatively competitive compared to countries like Singapore, where foreign buyers face significantly steeper levies.
According to Knight Frank, approximately 5,500 individuals with a net worth exceeding US$10 million were living in Vietnam as of 2024. With steady post-pandemic growth in high-net-worth individuals, Vietnamese interest in overseas property will continue rising, driven by aspirations for security, education, and long-term investment.
