NAC Weekly No. 05: Vietnam's Q1 GDP Grows 7.83%
7 min read1,433 wordsĐọc bằng tiếng Việt →

NAC Weekly No. 05: Vietnam's Q1 GDP Grows 7.83%

Vietnam's Q1 GDP grows 7.83%, Dubai home sales reach AED 176.7bn in Q1 and Portugal votes for a 10-year path to citizenship. Five stories from the week.

Vietnam's Q1 GDP grew 7.83%, the fastest first quarter since 2011, but March consumer prices rose 4.65% on fuel. Dubai closed Q1 with AED 176.7 billion of home sales despite the war in the region. Portugal's parliament voted to raise the residence needed for citizenship to ten years for non-EU nationals.

Market pulse, week of 30/3–5/4/2026

Vietnam GDP, Q17.83%▲ from 7.07% in Q1 2025Statistics Office, 4 Apr
Vietnam CPI, March4.65%▲ year on year; 1.23% on FebruaryStatistics Office, 4 Apr
Dubai home sales, Q1AED 176.7bn▲ March value up 23.4%fäm Properties, 5 Apr
US payrolls, March178,000▲ unemployment steady at 4.3%BLS, 3 Apr
Turkey inflation30.87%▼ from 31.53% in FebruaryTurkStat, March 2026
Residence for Portuguese citizenship10 years▲ from 5, awaiting the PresidentPortuguese parliament, 1 Apr

Source: Statistics Office via Mekong ASEAN and Tuổi Trẻ (4 Apr); fäm Properties via Khaleej Times (5 Apr); BLS (3 Apr); TurkStat via Trading Economics (3 Apr); IMI Daily (1 Apr)

Signals this week

Prices and dealsMoney and ratesRules and process
🇻🇳 VietnamPrices and dealsConsumer prices up 4.65% on a yearMoney and ratesRegistered FDI up 42.9%Rules and process—
🇦🇪 DubaiPrices and dealsMarch sales value up 23.4%Money and rates—Rules and process—
🇵🇹 PortugalPrices and deals—Money and rates—Rules and processCitizenship after 10 years, not 5
🇺🇸 USDPrices and deals—Money and ratesSolid jobs keep rates highRules and process—
🇹🇷 TurkeyPrices and dealsInflation eases to 30.87%Money and rates$44.3bn of reserves sold for liraRules and process—
▲rising▼falling●steady / watch

Source: NAC, compiled from the sources in this issue

🇻🇳 Vietnam · Q1 GDP grows 7.83%, the fastest first quarter since 2011

Ho Chi Minh City at night, Landmark 81 on the Saigon River+7.83%

Q1 2026 GDP year on year; industry and construction up 8.92%, services up 8.18%Statistics Office, 4 AprPhoto: Minh Khiem, Wikimedia Commons, CC0

On the morning of 4 April the Statistics Office estimated Q1 GDP growth at 7.83%, up from 7.07% a year earlier and the strongest first quarter since 2011, Mekong ASEAN reported. Per Tuổi Trẻ, registered FDI reached USD 15.2 billion by 31 March, up 42.9%. March consumer prices rose 4.65% on a year, the steepest March rise in five years, driven mainly by fuel.

For Vietnamese investors: strong growth alongside inflation near 4.7% makes it hard for domestic rates to fall in Q2. FDI flowing into manufacturing supports housing demand around the southern industrial parks. Per NAC's listing data, CapitaLand's The Sycamore in Bình Dương New City starts at USD 118,000, with phased handover from 2026.

🇦🇪 UAE · Dubai home sales reach AED 176.7 billion in Q1

Dubai Creek Harbour marina at sunset+23.4%

value of Dubai home sales in March 2026 versus a year earlier, despite the regional warfäm Properties, via Khaleej Times 5 AprPhoto: Yousrafayed, Wikimedia Commons, CC BY-SA 4.0

fäm Properties' figures, published by Khaleej Times on 5 April, show 47,996 home sales in Q1 worth AED 176.7 billion, about 70% of them off-plan. In March alone volume rose 5.5% and value 23.4% on a year. Earlier, on 21 March, Reuters cited Goldman Sachs estimating UAE transactions down 37% in the first 12 days of March.

For Vietnamese investors: the full-month data is far better than early-March fears suggested, but off-plan still dominates, so read build progress and payment plans closely. Per NAC's listing data, DAMAC Golf Greens in DAMAC Hills starts at USD 300,000, is due around Q1 2028 and is paid 80/20.

🇵🇹 Portugal · Non-EU residents to wait 10 years for citizenship

The 25 de Abril Bridge over the Tagus, Lisbon10 years

residence required for citizenship by non-EU nationals outside the Portuguese-speaking bloc, up from fiveIMI Daily, 1 AprPhoto: xiquinhosilva, Wikimedia Commons, CC BY 2.0

On 1 April Portugal's parliament passed the revised Nationality Law by 152 votes to 64, IMI Daily reported. The residence needed for citizenship becomes seven years for EU and Portuguese-speaking nationals and ten for everyone else, with no transitional protection for current residents. It now awaits President António José Seguro, who can sign, veto or refer it to the Constitutional Court.

For Vietnamese investors: the golden visa and permanent residence after five years are unchanged, but the road to a Portuguese passport doubles if the law is signed. Families choosing Portugal for citizenship should redo their timeline. The qualifying routes are in NAC's Portugal golden visa programme guide.

🇺🇸 United States · Payrolls add 178,000 in March

A now-hiring sign at a restaurant in Ohio+178,000

non-farm payrolls in March 2026; February was revised to a loss of 133,000BLS, 3 AprPhoto: Andre Carrotflower, Wikimedia Commons, CC BY-SA 4.0

On 3 April the Bureau of Labor Statistics said the US added 178,000 non-farm jobs in March, with unemployment steady at 4.3%. February was revised to a loss of 133,000 and January up to a gain of 160,000, leaving the two months 7,000 lower than first reported. Average hourly earnings rose 3.5% on a year to USD 37.38.

For Vietnamese investors: the job market bounced back from a weak February just as oil pushes inflation up, so the Fed has little reason to cut at its 28–29 April meeting. Borrowing in dollar-linked markets such as Dubai and Panama is unlikely to get cheaper soon, which keeps equity buyers in the stronger position.

🇹🇷 Turkey · March inflation eases to 30.87%

Apartment blocks along the E5 highway in Beylikdüzü, İstanbul30.87%

Turkish inflation in March 2026, year on year, from 31.53% in February; housing alone up 42.06%TurkStat, via Trading Economics 3 AprPhoto: buzkozan, Wikimedia Commons, CC BY 3.0

TurkStat data, reported by Trading Economics on 3 April, shows inflation easing to 30.87% in March from 31.53% in February, below the 31.4% forecast. Prices rose 1.94% in the month. To hold up the lira, the central bank sold USD 44.3 billion of reserves between the start of the war and 30 March, by former chief economist Hakan Kara's count, Türkiye Today reported on 31 March.

For Vietnamese investors: per NAC's programme data, the property threshold for Turkish citizenship is set in dollars, from USD 400,000, so a weak lira does not raise the capital required. Referans Residence in Beylikdüzü, İstanbul is complete and starts at USD 400,000. Details are in NAC's Turkey citizenship programme guide.

Next week

Mon6/4
Tue7/4
Wed8/4Fed minutes of the 17–18 March meeting
Thu9/4
Fri10/4US March CPIEU Entry/Exit System becomes fully operational
Sat11/4
Sun12/4

Source: Calendars of the Fed, the US Bureau of Labor Statistics and the EU

NAC strategic insight

This week Vietnam grew fast but inflation crept up, and Europe lengthened the road to citizenship. We favour keeping part of a family's wealth in dollar-linked markets, buying assets that are finished or close to handover, and choosing a residence programme on its real-world timeline rather than the one on paper. If you'd like to see where your family's portfolio stands after this week, book a consultation with NAC.

Markets in this issueVietnam, Dubai and Turkey all published new data this week
🇻🇳 VietnamBranded homes in Da Nang, Ho Tram and HCMCSaigon by nightExplore the market →🇦🇪 UAEThe Dubai Golden Visa through propertyBurj Khalifa, DubaiExplore the market →🇹🇷 TurkeyCitizenship through Istanbul propertySunset over the BosphorusExplore the market →

The Sycamore Bình Dương · DAMAC Golf Greens · Referans Residence İstanbul · W Suite İstanbul · The NAC Residence Index

Sources