In 2015, Vietnam revised its housing law to allow foreigners to purchase property in the country if they simply have a valid entry visa. This change has had a significant impact on the local real estate market, especially in categories such as ocean view apartments, downtown units, beach residences, and golf course villas. Since 2015, foreign direct investment in these types of property has increased sharply. What features are inherent in houses and residential developments in Vietnam? Let’s talk about this in this article.
Content:
- Most popular destinations and average housing prices
- Features of Vietnamese real estate
- Features of traditional houses in Vietnam
- Buy a home in Vietnam with us!
Most popular destinations and average housing prices
Today, the most popular locations in Vietnam include:
- Da Nang
- Hoi An
- Ho Chi Minh City
- Hanoi
- Phu Quoc
- Quy Nhon
Da Nang, Hoi An, Phu Quoc, and Quy Nhon attract people with a peaceful, relaxed atmosphere and beach holiday opportunities. These cities are located on the coast and have beautiful sandbars and health resorts. Properties in these locations, including ocean view apartments and beach villas, are in high demand among those seeking comfortable seaside living.
Ho Chi Minh City and Hanoi are the business and administrative centres of Vietnam. These cities offer a variety of business, employment, and educational opportunities. Ho Chi Minh City, also known as Saigon, is the country’s largest commercial city with many business centres, restaurants, shops, and cultural attractions. Hanoi, the Vietnamese capital, is a political, economic, and cultural centre with a rich heritage and historical monuments.
Home prices in Vietnam are still relatively low compared to other Asian countries. For example, here, you can find studio apartments on the seafront from $70,000. Another option to save money is to buy real estate in the early stages of construction of the project. In such cases,
investors can sometimes earn a return of up to 12%.
There are also payment plans that allow buyers to purchase a home in the early stages of construction and pay off the entire amount in instalments until the project is completed. In this case, the down payment is 20–30%, and the remaining debt is paid as construction progresses, i.e. within 12–24 months.
Property prices in different parts of the country vary significantly. For example, the most affordable options are in Da Nang and Hoi An; you can keep your budget between $100,000 and $250,000. Housing in Ho Chi Minh City and Hanoi is much more expensive. Starting prices here are almost twice as high—between $200,000 and $300,000.
Features of Vietnamese real estate
One of the most popular real estate options in Vietnam is apartments. These are residential units in high-rise apartment houses. Such buildings are especially popular in large cities, such as Ho Chi Minh City.
Nowadays, a large focus is placed on the internal infrastructure of residential developments. Here are the most common amenities:
- Cafes
- Playgrounds
- Swimming pools
- Gyms
- Small ponds
- Underground parking
The most luxurious residential developments can even have schools, banks, and shopping centres to provide residents with maximum comfort.
Villas are spacious detached homes in gated communities. As is the case with apartments, villa complexes have community centres and internal infrastructure facilities such as swimming pools, fitness centres, and meeting rooms. A striking example is LakeView City in Ho Chi Minh City, the total area of which exceeds 121,400 m². It is located close to schools, shopping malls, and medical facilities. Internal infrastructure includes playgrounds, a large park, and a swimming pool. Prices for villas in such communities start at $300,000.
Officetels are a common type of housing in Vietnam. They are a combination of an apartment and office space, making them a great option for those who want to avoid commuting. Typically, officetels are located in large residential developments, where you can use an apartment for both living and working. Many of these properties are in different districts of Ho Chi Minh City, including Districts 2, 4, and 7. For example, in District 2, there are the Lexington Residence and The Sun Avenue projects; in District 4, Millenium, Rivergate, and The Goldview; and in District 7, Sunrise City View.
A condotel is a portmanteau of condominium and hotel, a development that combines the characteristics of both types of real estate. These are condominiums that operate like hotels and provide the appropriate level of service. They are usually located in large cities or resorts.
Condotel unit owners are investors who buy and resell property, wealthy people who use them as holiday homes, or ordinary buyers who have invested spare funds to generate additional rental income. Condotels are especially popular in the coastal cities of Nha Trang and Da Nang.
Features of traditional houses in Vietnam
In addition to modern types of real estate, Vietnam also has traditional housing. Here are its most interesting types:
- Stilt houses are a striking architectural feature of Vietnam. They impress with their charm and practicality. They are erected on durable wooden poles, specially designed to suit different landscapes, especially when located in floodplains. They protect against rising water levels and make a comfortable living space. The elevated position of the houses creates natural ventilation, keeping the interior cool during the hot season.
- Rammed earth houses are an example of Vietnam’s traditional architectural heritage. When visiting locations such as Sa Pa or Ha Giang and exploring the villages of local ethnic communities, you can see a large number of this type of house. They are built using clay, mud, and straw. Thick earthen walls provide natural insulation, keeping the indoor space cool in summer and warm in winter. Earthen-wall houses often have low sloping roofs and compact layouts.
- Houses with bamboo walls and thatched roofs are traditional Vietnamese buildings. The walls are made from bamboo sticks tightly woven together, ensuring a strong and durable structure. Thatched roofs, made up of layers of dry leaves or grass, provide excellent protection from heat and rain.
- Ruong houses can often be seen in the central region of the country, especially in the ancient imperial capital of Hue. They feature elaborate wooden frames and tiled roofs. During their construction, wooden beams are connected to each other without the use of nails. The roofs are decorated with layered tiles.
In each region, houses have their own unique architecture. For example, in the north, buildings are often constructed using bamboo or timber frames. Roofs are usually steeply pitched to effectively drain rainwater and prevent leaks during downpours. A large yard is a distinctive feature of houses in this part of the country.
In Central Vietnam, houses have an unusual design where the lower and upper levels are perpendicular to each other and oriented towards the front yard. This gives the buildings a unique look. In the southern part, traditional houses are usually built using coconut leaves and ironwood. The upper part of the buildings is used as a place for worshipping ancestors, and the lower part is used for everyday life. In the provinces in the Mekong Delta, you can find “nha be” (houseboats). They allow people to easily navigate the canals and fish.
Buy a home in Vietnam with us!
To find a suitable housing option, use our aggregator website. We feature properties only from trusted developers and reliable agencies. You can sort listings by price, living space, and many other parameters. Photos and additional information will help you make an informed decision. Now is the best time to invest in real estate in Vietnam. Good luck in purchasing your dream home!