As a hotspot for foreign investment, Vietnam property market offers foreign investors one of the most promising price in the region. With its attractive combination of affordability and excellent quality, property prices in Vietnam are currently at a low level compared to region.
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1. HOW CHEAP ARE THE PROPERTY PRICES IN VIETNAM COMPARED TO ASIA?
Vietnam, one of the countries with the lowest property prices in Asia, has been an attractive destination for foreign investment inflows in recent years. In popular cities such as Ho Chi Minh City, real estate can be purchased for around US$2,269 per square meter, with an average appreciation of up to 22 percent. Compared to country like Thailand, where utilities offer the same level of value, Vietnam’s real estate is much attractive option to investors, with growth rates of 0.8-1.5 times higher.
With a growing middle class and a lower cost of living, Vietnam offers great opportunities for real estate investment with this current affordable price.
2. 3 CITIES WITH THE CHEAPEST PROPERTY IN VIETNAM
Ho Chi Minh City
Investing in Ho Chi Minh City offers tremendous opportunities due to its status as the economic hub of Vietnam. With a GRDP of over $48.2 billion and a growth rate of 8.26% in 2022, the city leads the country in terms of FDI attraction. Boasting more than 7,300 FDI projects with a registered capital of over $44 billion, Ho Chi Minh City attracts significant foreign investment.
One key advantage is its modern infrastructure, including the largest airport in Vietnam and the busiest port in the country. The city also features 11 industrial zones, with available land for rent, and the renowned Ho Chi Minh Hi-tech Park, attracting leading international corporations.
At current prices and the convenience of housing in Ho Chi Minh City, this is very affordable compared to other countries in the region. Compared to central cities in the world such as Tokyo, Seoul, or New York, you only pay 1/5 of the price for a house in here.
Ha Noi
Hanoi, the capital of Vietnam, offers immense investment opportunities in the property market for foreigners. With a rich history dating back a thousand years, Hanoi’s charm and potential are evident. In 2021, its GRDP reached $ 44,7 billion, showcasing a growth rate of 2.92% and US $1.7 billion of foreign direct investment (FDI), accounting for 43.7% of the FDI flow into the country.
Investing in Hanoi’s property market as a foreigner offers a blend of cultural immersion, favorable incentives, and promising returns. Compared to other Asian capitals, Hanoi stands out for its relatively low property prices, making it a destination for both domestic and foreign investors.
Da Nang
Located in the central of Vietnam, Da Nang is the fifth largest and highly developed city, offers exceptional opportunities. With its stunning natural landscapes and prime location facing the South China Sea, Da Nang attracts both tourists and businesses. Unlike other tourist destinations, Da Nang boasts a diverse economy with significant commercial activities and a growing presence of high-tech and marine industries.
Real estate values currently sit at US$1,200 per square meter, the lowest of any coastal tourist city in Asia. By investing in housing in Da Nang, investors have both the opportunity to earn high profits in the future and a great vacation destination.
3. FEES AND TAXES WHEN BUYING PROPERTY IN VIETNAM
Vietnam is classified as a country with a low real estate tax rate. And for foreign investors who want to buy a house in Vietnam, you do not have to pay any special fees on the value of the house.
