Five Best Areas for Your Next Vietnam Property Investment | Property for Sale/Rent
Are you looking for villas, condominiums for sale, townhomes for rent, a property for sale, or any other properties for rent in Vietnam? This country is one of the best choices for an overseas property investment. But then another question that pops in your head is “Where should I live in Vietnam?”
In this article, you will see the areas that are best for property investment because of its favourable location and its high return of investment potential. But before that, let’s take a look into the credibility of Vietnam’s economy and real estate market. This information is crucial, especially if you want your property to have high price appreciation.
Is it safe to invest in Vietnam?
Vietnam reached its highest GDP growth in 8 years with a record of 6.98% y-o-y in Q3 of 2018. Moreover, its Foreign Direct Investment (FDI) has surged a 6% y-o-y. On the other hand, its Industrial Production Index increased 10.6% y-oy, the highest it has been since 2012.
Furthermore, as one of Asia’s rapidly rising countries, Vietnam faces a bright future in the real estate market. The Vietnam Investment Review reported that Vietnam is unlikely to have a property crisis for the next two years. In the seminar “Crisis Cycle and Investment Opportunity in the Property Market,” Ho Chi Minh City Real Estate Association Chairman Le Hoang Chau said that Vietnam is safe from the crisis in the near future until 2019. He further explained that this phenomenon is due to Vietnam lacking reasons for a crisis to arise. Indicators of a crisis include, which include a rapid increase of economy, loosening policies from government credit management, and a big gap between supply and demand.
Certainly, the outlook of the Vietnam property market looks good. So there’s no question that Vietnam’s fertile land for property investment. Below are five areas in Vietnam that offer both great real estate return of investment in highly desirable locations in Vietnam.
Ho Chi Minh City, Vietnam (HCMC)
Ho Chi Minh City is the largest city in Vietnam and is praised as Vietnam’s top performing financial hub. For the third quarter of the year, Ho Chi Minh’s GDP reached 7.89% y-o-y while leading the country’s FDI investments as well. This just goes to show that Ho Chi Minh City is foreign investment friendly and a place where you could expect a return of investment.
Is home to Tan Son Nhat International Airport, the largest airport in the country as well as Saigon Port, the busiest port in the city. This city even has 11 industrial zones and a well-established Hi-tech Park containing international brands such as Samsung and Intel. With a good economic growth, Ho Chi Minh City provides great property investment opportunity as well as returns.
What makes Ho Chi Minh’s location even more attractive is its proximity to other thriving ASEN nations. Within its radius of 3,500 km, other areas such as Cambodia, China, India, and Thailand.
You can experience an upbeat living in Ho Chi Minh, especially with a lot of great food, shopping centres, and nightlife aside from financial buildings. So, expect it to be full of people, especially at District 1. However, there are many other Districts apart from HCMC’s District 1 to explore. Scattered in the area are lots of condos for rent and for sale.
Within the north side of the country sits Hanoi, the political centre and the capital of Vietnam. According to CBRE Vietnam, Hanoi’s GDP reached up to 7.17% up the previous year, as for the third quarter for 2018.
Hanoi presents favourable property investment opportunities as well due to its highly functional and efficient transport system. Due to the government’s conscious effort to improve the city’s transport infrastructure, Hanoi is known for being the transport hub of the Red River Delta. Inside Hanoi, you can find Noi Bai International Airport, the second largest airport in the country, as well as a broad network of waterways, railways, and highways effectively connecting the region.
Boasting of its deep cultural heritage, Hanoi is home to vast Vietnam history, culture, and thriving art scene. Expats who plan to live here will be thrilled to see uniquely Vietnam architecture, trading practices, and tradition. Such cultural sites include Turtle Tower, One-Pillar Pagoda, Hanoi’s Opera House, the Temple of Literature, and many more.
In Q3, new property launches in the area are mostly focused in the West and South of the city. With that, Hanoi’s property market seems to experience a decentralisation trend because of the new project launched in areas such as Thanh Tri and Hoai Duc Districts.
For some, Tay Ho poses as the most desirable residential area. This place is dotted with properties of Vietnam’s political elites. The special thing about Tay Ho is riverside living that is serene. However, Tay Ho’s prices are among the most expensive in Hanoi, so be wary.
You can also find more property for sale in Hanoi’s Cau Giay District, Long Bien District, Bac Tu Liem, and Hoang Mai District.
Da Nang, Vietnam
Da Nang, known as being the city of bridges and festivals, presents a coveted vibrant yet serene coastal living. This plus its 70km stretch of awe-striking coastal line and white sand has even earned it a place in TripAdvisor’s Top 10 destinations on the rise for 2015 and Asia’s leading festival and event destination by World Travel Awards Asia in 2016.
Da Nang sits in a strategic location because of its proximity to neighbouring big cities such as Hanoi and HCMC and other Asian countries as well. Further connecting it to other neighbouring countries is the East-West Economic Corridor, linking Da Nang’s port to countries such as Laos, Cambodia, Thailand, and Myanmar. Hence, Da Nang serves as an entry and exit points of goods and people in the area.
Despite being a small city, Da Nang’s infrastructure passes international standards. But unlike the two aforementioned cities, Da Nang exudes calmness. Expatriate community is ever growing along this area, reaching 5,000 people in 2017 alone. This area is also replete with property for sale, especially luxury ones near the coast. There is an ample supply of luxury villa and homes and even condominiums if you want to invest in those kinds of properties.
Bac Ninh, Vietnam
Another promising province in Vietnam include Bac Ninh, an agricultural turf turned into one of the major industrial hubs in the Northern Key Economic Zone. Currently, this province is attracting a lot of FDI for Vietnam. Major international companies such as Canon (Japan), Samsung (South Korea), Nokia (Finland), and ABB (Sweden) have established their presence in Bac Ninh. With more companies to international companies to come, it will definitely attract more people. And, with more people comes a higher demand for more homes.
Be on the lookout for property investment opportunities in this area!
Binh Duong, Vietnam
The province of Binh Duong is known to be a leader of “hi-tech investment.”
Its government has been focusing on uplifting both less-labour intensive, and environment-friendly policies to attract more foreign investments. It has even improved foreign investment procedures in terms of business establishment and registration process for investors’ ease.
CBRE Vietnam said that what draws investors here is the presence of high-quality educational, healthcare, and entertainment facilities. General Director of CBRE Vietnam Marc Townsend further explained that Binh Duong’s industrial parks are “The main factor for foreign investors to invest in the land fund and build luxury apartments for hire…” Taiwan is currently Binh Duong’s top investor followed by Japan, Korea, and Singapore.
While focusing on improving transportation, infrastructure, and the overall quality of living, Binh Duong aims to become a Tier 1 city by 2020, adapting the name Binh Duong New City. If you want to live in a hi-tech area full of top-notch amenities, you are very much welcome here.
Have you found your desired area? If you have, visit our updated property listing for Vietnam properties for sale and other property for sale around Asia.
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