Top 4 Cities In Vietnam To Watch in 2021
Vietnam is booming! Forget about the
traditional real estate hotspots like Hong Kong and Singapore. Vietnam is
becoming Asia’s latest property hotspot. In 2015, Vietnam opened up to foreign
real estate investors, and it has become one of the hottest topics among the
real estate community ever since. Currently, foreigners can purchase as many
real estate units as they want, provided that they do not buy more than 30
percent of the units in each new residential project.
With a relatively strong economy (data released by the General Statistics Office of Vietnam estimated a 1.81 percent growth to Vietnam’s GDP in the first half of 2020. The numbers are promising as Vietnam is one of few countries that achieved positive growth during the pandemic) and an ambitious infrastructure plan. The property market in Vietnam is enticing and offers excellent yields.
For newbies, you may have heard of Hanoi or Ho Chi Minh City. But Vietnam is more than that. In this article, we’ll introduce 4 cities that you should pay attention to in 2021.
Hanoi is the country’s capital and the second-largest city. It is also the cultural and industrial centre. Life in Hanoi is very enchanting for those who love to explore Vietnamese history and culture. The city retains its Old Quarter, which features very distinctive Vietnamese architecture and tradition. Meanwhile, Hanoi is where embassies, start-ups, and NGOs locate, which increases the size of the rental market. The average price of apartments in Hanoi is estimated to be US$1,493 per sq. m. in Q2 2020. Despite rising prices, Hanoi’s luxury apartments seem like an attractive deal for wealthy investors from regions like Hong Kong and mainland China. Thanks to its strategic location, flying to Hanoi takes you less than 2 hours from Hong Kong and about 5 hours from Shanghai.
Ho Chi Minh City
Being the largest city in Vietnam, Ho Chi Minh City is praised as Vietnam’s economic hub. It has attracted the largest expats because it is the largest financial and economic hub in the country. The rapid growth of the population increases the demand for apartments. For years, Ho Chi Minh City led Vietnam in terms of FDI attraction. In 2017, there were 7,494 projects issued with valid investment certificates, accounting for 13.9% of the country’s total FDI. Ho Chi Minh City has 11 industrial zones with a total area of more than 1,700 hectares; practically anything of business significance happening in Vietnam goes through Ho Chi Minh City. Real estate experts believe the real estate market of Ho Chi Minh City will remain strong in the coming years.
Looking for luxury holiday flats? Nha Trang is for you! Being the coastal area of central Vietnam, the economy of Nha Trang rises significantly. Nha Trang is well known for its beaches and scuba diving and has developed into a popular destination for international visitors. While the tourism industry is greatly affected by the pandemic, it will bounce back as Vietnam has received international praise for its efficient and effective response to the COVID-19 outbreak. Nha Trang is the city to watch in 2021!
In 2017, Da Nang was chosen to host the APEC Economic Leaders’ Week, a sign to show its importance to the country. Da Nang is only hours away from significant domestic and foreign markets such as Hanoi, Ho Chi Minh, China and India, making a favourable destination for foreign real estate investment. According to real estate experts, the most popular properties for foreign investors in Da Nang are high-end resorts, hotels and beachfront villas.