Apartments for sale in Vietnam
Today, buying apartment in Vietnam is a relatively easy task for foreigners. You can come here on a tourist visa without any special conditions or permits and buy a property you like. There are several cities that are particularly popular with migrants, expatriates, tourists, and local residents:
- Ho Chi Minh City (Saigon). The country's economic and financial center, where you can find plenty of options in both densely populated areas and on the outskirts.
- Hanoi. The capital and second largest city in the northern part of the country, serves as the political and cultural center.
- Nha Trang. A resort city on the coast of the South China Sea that attracts both tourists and potential investors. It offers a large number of sea view apartments near the beaches.
- Da Nang. Located on the southern coast of the country, this city is also popular with investors and is known for its beaches and natural attractions.
Currently, almost all the new flats for sale in Vietnam are in the mid- to high-end residential segment. The elite segment has dominated the real estate market in Vietnam for quite some time. New apartments are mainly located in ultra-modern residential complexes that include:
- Rooftop pools, including infinity pools;
- Gyms, yoga, and meditation studios, running tracks and spas;
- Supermarkets and shops;
- Parking facilities;
- Cafes and restaurants;
- Children's playgrounds;
- Zen gardens and other world-class internal infrastructure.
In addition to the typical studios and apartments with 1, 2, 3 or more bedrooms, Vietnam also has Officetel apartments. These are multi-functional properties that combine both residential and office space. They typically have an area of 25–50 sq. m and include a work area with a separate entrance, business areas, a living room, and a full living space.
There are also commercial apartments, which are usually located on two separate floors within multi-apartment buildings.
Another type of property is Sky Villa Apartments, which are also located in multi-family buildings. Their average size is about 150 sq. m, and they occupy the upper floors with access to an open terrace.
Apartments prices in Vietnam
In 2023, the price in major cities will be around $2,122 per square meter for Hanoi and around $2,700 per square meter for Ho Chi Minh City. Apartments priced around $1,000 per square meter are only available in a few commercial housing projects in remote areas away from the city center.
For a better understanding, here are some recent examples of prices for 1-bedroom apartments in the major cities mentioned:
- In Ho Chi Minh City, a 59-square-meter apartment in the Thủ Đức location, fully furnished and equipped with appliances in the elite Vinhomes Grand Park complex, can be purchased for $82,000.
- Wonderful apartments in Vietnam for investment and living in Hanoi, in the Gia Lâm area in the Vinhomes Ocean Park complex, with a size of 47 sq. m, are priced at $56,000.
- In Nha Trang Province, Khanh Hoa City, a 1-bedroom unit with a size of 45 sq. m in the new CT1 Riverside Luxury complex costs $60,900.
- In Da Nang, in the Ngu Hanh Son area, a 55-square-meter sea-view apartment is selling for $74,000.
On average, excluding VAT and service charges, the cost of apartments in Vietnam is around $1,960 per square meter by 2023.
Investment apartments in Vietnam
Prices for flats in Vietnam are growing at about 2–3% per quarter. The southern real estate market, including Ho Chi Minh City and neighboring provinces, leads in terms of primary supply volume in the first 9 months of 2023. However, the number of properties available for sale does not yet meet the high demand, making investment profitable in the short term.
Vietnam is a popular tourist destination with a large number of foreign visitors. In the first half of 2023, the number of foreign visitors reached 5.6 million people, which is nine times more than the same period in 2022. The country's GDP has grown by 3.72% compared to the previous year.
Good economic indicators, an influx of tourists and a high standard of living justify investment in property in Vietnam. Based on the constant demand from expatriates and tourists for rentals, especially in major cities, investors can generate a steady income from renting out their apartments. Buying property in Vietnam is relatively straightforward for foreigners.
However, it's important to remember that, as in many Southeast Asian countries, residential property in Vietnam is not fully owned. Ownership is usually in the form of a leasehold with a term of up to 50 years. The buyer is granted a leasehold, which allows him to use and inherit the property for his purposes during the specified period.
After the lease expires, it can be renewed. An exception is when a foreigner marries a Vietnamese citizen, in which case the property can be owned without restriction. In addition, foreigners cannot own more than 30% of the flats in an apartment building.
Profitable to buy apartment in Vietnam
To find a suitable option, we recommend using our aggregator website. The catalog contains the most current and verified apartments and villas in Vietnam from reliable developers and agencies. You can use convenient filters to sort listings by price, square footage, location, and other parameters. This is the fastest way to find the right property for you and buy flat in Vietnam!