If you plan to purchase property in Vietnam, then usually foreigners choose one of the capitals – this is Hanoi or Ho Chi Minh City or one of sea resort towns.
In general, real estate prices in Vietnam are the same everywhere, the only city that stands out is Ho Chi Minh City, the economic capital.
Property Prices in Ho Chi Minh City
The strongest recent jump in prices occurred in 2019 – the average cost for 1m2 in the premium segment was $ 2009, which is 21.6% more than in 2018. An even greater increase in prices was observed in the luxury category – an increase of 52.9%, or $ 4,569 / m2.
Real estate price in Ho Chi Minh City at the time of writing of the article per 1 m2: premium – $ 2751, luxury – $ 7327, economy – $ 1204.
Moreover, very interesting statistics are that this is only 18% of the cost of similar real estate in Singapore and 14% of Hong Kong. And if you take the luxury segment, then only 8%, i.e. at least 12 times cheaper than in the most developed economic capitals of Asia.
For several years Ho Chi Minh City has been in the top-3 of the City Momentum Index (in 2020 – 3rd place), which includes 130 major cities in the world.
Average property prices in Vietnam and Hanoi
The remaining regions of Vietnam, including the capital Hanoi, have a standard price increase. Over the past year, it amounted to 6.9%, an average of $ 1,417 / m2 in the premium segment, which is about 30% lower than in Ho Chi Minh City. The ratio is approximately the same in the luxury and economy segments.
The above prices are average, i.e. if you wish, you can find apartments in economy class for $ 500 / m2 on the beach, which is undoubtedly cheap, and buying in the premium segment is promising and profitable.