NAC Weekly No. 20: Vietnam's New-Condo Sales Drop 62% in the First Half

Vietnam sold only about 26,100 new condos in the first half of 2026, 62% fewer than in the second half of last year, with mortgage rates typically at 12–14% a year. In the US, cheaper petrol pulled June inflation down to 3.5%. Dubai granted about 66,000 golden visas in six months, foreign home buying in Turkey turned up again, and Antigua tabled a bill writing a 30-day stay rule into its citizenship-by-investment law.

Market pulse, week of 13–19/7/2026

Signals this week

🇻🇳 Vietnam · New-condo sales drop 62% in the first half

▼−62%

new condos sold in H1 2026 versus H2 2025, down to about 26,100 unitsDXS-FERI, via Tuổi Trẻ 13 JulPhoto: Le Thanh Nguyen, Wikimedia Commons, CC BY-SA 4.0

The DXS-FERI research institute at Dat Xanh Services estimates that Vietnam sold about 26,100 new condos in the first half of 2026, 62% fewer than in the second half of 2025, Tuổi Trẻ reported on 13 July. Absorption fell to 20–30%, up to 30 points below late last year. Typical mortgage rates sit at 12–14% a year.

For Vietnamese investors: buyers paying with their own cash now have more room to negotiate. The same survey found 96.9% of buyers put clear legal status first. Per NAC's listing data, The Prince Residence in Phu Nhuan was handed over in 2015, starts at about USD 144,000 and yields roughly 5.5% gross (NAC estimate).

🇺🇸 United States · June inflation eases to 3.5% as petrol falls

▼3.5%

US inflation over the 12 months to June 2026, down from 4.2% in MayUS Bureau of Labor Statistics (BLS), 14 JulPhoto: David Wilson, Wikimedia Commons, CC BY 2.0

On 14 July the US Bureau of Labor Statistics reported that consumer prices fell 0.4% in June. Greenleaf Trust noted it was the largest monthly drop since April 2020, and that annual inflation came in below expectations. Petrol fell 9.7% in the month, though energy is still 15.7% dearer than a year ago. Core inflation stood at 2.6%.

For Vietnamese investors: the Fed holds its range at 3.50–3.75% and meets again on 28–29 July. At home, the State Bank set its central rate at 25,254 dong per dollar on 17 July, 11 dong up on the previous session. Families paying for an overseas home in instalments should line up foreign currency early for the next payments.

🇦🇪 UAE · Dubai grants about 66,000 golden visas in six months

●66,000

golden visas Dubai granted in H1 2026, alongside 1 million new residence permitsGDRFA, via IMI Daily 16 JulPhoto: Jimmy Baikovicius, Wikimedia Commons, CC BY-SA 2.0

Figures from Dubai's General Directorate of Identity and Foreigners Affairs (GDRFA), published by IMI Daily on 16 July, show about 66,000 golden visas granted in the first half of 2026. At that pace the year would close near 132,000, below the record 158,000 of 2023. Advisers say most applicants are two-year residents upgrading to the ten-year visa.

For Vietnamese investors: the ten-year route needs property worth AED 2 million, about USD 545,000, and off-plan homes count before they are fully paid. Per NAC's listing data, DAMAC Safa Gate starts at about USD 542,000, right at that line, so check the dirham price of the exact unit. Full requirements are in NAC's UAE golden visa programme guide.

🇹🇷 Turkey · Foreign buyers take 2,015 homes in June

▲+20.1%

homes bought by foreigners in Turkey in June 2026 versus a year earlier, the first rise since DecemberTÜİK, 17 JulPhoto: ampersandyslexia, Wikimedia Commons, CC BY-SA 2.0

Data released on 17 July by the Turkish Statistical Institute (TÜİK), reported by Hürriyet Daily News, show foreigners bought 2,015 homes in June, 1.6% of all sales. Türkiye Today noted it was the highest share since July 2024. Over the first six months, foreign purchases are still down 9.2%.

For Vietnamese investors: per NAC's listing data, Turkish citizenship by investment needs property from USD 400,000. Referans Residence in Beylikdüzü, Istanbul is complete, starts at about USD 400,000 and yields about 7.5% (NAC estimate). A finished building removes the risk of a late handover. Full requirements are in NAC's Turkey citizenship programme guide.

🇦🇬 Antigua and Barbuda · Investor citizens must now stay 30 days

▲30 days

required stay in the first five years after citizenship, up from five daysIMI Daily, 17 JulPhoto: Dr. Thomas Liptak, Wikimedia Commons, CC BY 4.0

Prime Minister Gaston Browne has tabled an amendment to the citizenship-by-investment (CBI) law, IMI Daily reported on 17 July. Successful applicants and their dependants must stay 30 days rather than five. The programme's unit (CIU) faces annual independent audits and regular reporting to ECCIRA, the regional regulator.

For Vietnamese investors: Browne said the 30-day rule was already applied in practice; the bill would put it into law. The larger risk is still the European Commission's request that five Caribbean states end their programmes by June 2028. Current requirements are in NAC's Antigua and Barbuda citizenship programme guide.

Next week

NAC strategic insight

With mortgages at home still at 12–14% and the dong edging lower, we favour finished assets, bought with equity, in places where residence is tied to a clear investment threshold. For Caribbean citizenship routes, policy risk now deserves the same scrutiny as the purchase price. If you'd like to see where your family's portfolio stands after this week, book a consultation with NAC.

Related on NAC

The Prince Residence, Phu Nhuan · DAMAC Safa Gate · Referans Residence, Istanbul · InterContinental Grenada Resort · The NAC Residence Index

Sources

• Tuổi Trẻ — Rising rates, falling property liquidity (13 Jul 2026, Vietnamese)
• Người Quan Sát — Exchange rates, 17 July (17 Jul 2026, Vietnamese)
• US Bureau of Labor Statistics — Consumer Price Index, June 2026 (14 Jul 2026)
• Greenleaf Trust — June CPI Report Better Than Anticipated (14 Jul 2026)
• Federal Reserve — Open Market Operations, target range changes · Federal Reserve — July 2026 calendar
• IMI Daily — Dubai Issues 66,000 Golden Visas, Over 1M New Residence Permits in H1 2026 (16 Jul 2026)
• Hürriyet Daily News — Home sales increase 15.8 pct in June (17 Jul 2026)
• Türkiye Today — Foreign demand returns to Turkish housing as June sales rise (17 Jul 2026)
• IMI Daily — Antigua's New CIP Bill Mandates Independent Audits, Raises Residency to 30 Days (17 Jul 2026)
• ONS — Consumer price inflation, UK: June 2026 (scheduled 22 Jul 2026) · ECB — Monetary policy statement (23 Jul 2026) · Türkiye Today — Turkish central bank's 2026 meeting calendar (29 Dec 2025)