Ho Chi Minh real estate market – A quick review
Ho Chi Minh, the most populous city of Vietnam is also the economic hub of the country. It plays a vital role in the economic growth of the country. With several historic monuments attracting the tourists there are also plenty of modern amenities for the expats and locals settling in this Vietnamese city. Ho Chi Minh real estate has been displaying a positive growth in the recent years. Local buyers, expats settling in the city after purchasing a house and foreigners investing in properties have all led to the growth of real estate in this city.
Luxury accommodation redefined
For all those looking for a luxury home without having to spend a fortune Vietnam is becoming one of the hottest new favorite. The steadily growing demand and the prices rising steeply are indicative of the growth in the real estate. In spite of the rise in prices the effective amount spent for buying a house is relatively cheaper in Ho Chi Minh city than buying a similar sized house in Hong Kong, Singapore and other popular cities in the Asia Pacific regions. In fact a huge house furnished with all the modern amenities can cost much less than a simple condo for sale in the neighbouring countries.
Welcoming foreign investors with open arms
The low prices of real estate in Ho Chi Minh has attracted investors from nearby countries. Chinese buyers and buyers from Hong Kong consider Ho Chi Minh and Vietnam on the whole to be a worthy investment. Besides the posh accommodation options available there are also some low budget and mid-range options. This is one of the few cities that allows foreigners to buy nearly all types of properties including townhouses and villas besides apartments and condos. Owning a piece of land freehold is possible if the spouse of the buyer is a Vietnamese citizen. In the other cases, land leasing option for up to a 50 year tenure is allowed. In the case of condo communities a 30% cap is imposed on the sale to foreigners and it is 10% in the case of the communities with individual housing options. Besides buying a property, renting as well as leasing terms for the foreigners is are very flexible in Ho Chi Minh.
There is a property for everyone who dreams to buy a home
Besides the diversity in the budget criterion, different localities in Ho Chi Minh offer different types of architectural variations as well. There are plenty of high rise buildings coming up balanced by the increase in demand for luxury villas. District 3 is one of the neighborhoods that has always stood out as a popular residential location. And for the first timers District 1 makes all the amenities easily accessible. For the younger crowd looking for a busy nightlife there is Pham Ngu Lao. So for every type of home buyer the city has offered a very diverse type of real estate to explore. For anyone who is new to real estate investment this city offers one of the most dependable markets.