Vietnam is booming and becoming one of the most popular real estate spots in Asia, even if the country only welcomed foreign investors as late as 2015. Today, Ho Chi Minh is the commercial centre and the largest urban city in the country.
Ho Chi Minh also known as Saigon is divided into 24 districts. Each area differs because of its economic growth, history, and attractions. Districts 1, 2, and 3 are the hip locations to check because within these zones are promising prime properties.
The Central Business District (CBD) of Ho Chi Minh has the greatest number of well-known international companies and commercial facilities. Five-star hotels, banks, and luxury retail shops are common in the area.
The real estate industry in District 1 has grown exponentially even if property value in the area is expensive. According to CBRE Vietnam, 88% of luxury units are already sold and the price increases every year. But investors can expect a stable return of investment eventually.
New metro lines, schools, hospitals, and high-rise developments are popping up in District 2. Not long time ago, Thu Thiem was an under-developed land on the east bank of the Saigon river. But due to the number of expats entering the city and investors financing multi-million projects, District 2 is one to watch.
Project developments and constructions are currently in the process. Besides, even if the place is not yet the same as District 1, District 2 is now a popular among Korean and Western expats.
Investing near schools, malls, and the new metro line will give foreign investors a kick-start since price appreciation is expected.
Known for its stylish cluster of colonial French-inspired houses, District 3 is an alternative place for foreign investors who want the convenience of living near the city centre but still enjoy a quiet environment.
Property prices, either rental fee or housing fee, are slightly lower in District 3. But take note, there are also exclusive neighbourhoods for those who are looking for a grandeur lifestyle. Overall, the area is recommended for those who are moving in with their family.
Location: District 1
Address: No. 02 Ton Duc Thang Street, Ben Nghe Ward
One of the most anticipated real estate projects in Saigon is the Vinhomes Golden River. Units range from USD$4,500 – $5,000 per square metre.
Location: District 2
Address: Mai Chi Tho Street, Binh Khanh Ward
This modern and luxurious property is considered to be the top real estate project in Ho Chi Minh as they see it as the next financial centre in Vietnam. 7% is the expected rental yield.
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