The study was conducted to determine the relationship between capital structure and value of listed real estate firms with the regulatory role of science and technology. Data were collected from financial statements of real estate firms listed on the Vietnam stock market from 2010 to 2021. Linear and nonlinear regression methods determine the capital structure threshold and firm value. The research results show a positive correlation between capital structure and firm value; the value reached the maximum level with the ratio of debt to total assets reaching 70.5565%; firm using much short-term debt will increase the firm value, but it only rises to 61.9246% then the value will get the maximum level; firm expanding the use of long-term debt will reduce firm value when long-term debt to total assets increases higher than 29.3137%. Firms setting science and technology funds contribute to increasing firm value. In addition, firm size, fixed asset ratio, and total asset return positively impact firm value. The study proposes recommendations to help real estate firm managers build an optimal capital structure to contribute to increasing firm value.