Apartments and flats for sale in Hai Phong

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Apartments for sale in Hai Phong

Anyone interested can now purchase apartments in Hai Phong for investment and living. This Vietnamese port city, situated along the coast, boasts a strategic location favourable for economic, tourism, and service sector growth. It's located in the western region of the Gulf of Tonkin, just 102 km away from Hanoi, another major city. In total, Hai Phong comprises 15 administrative units, including 7 districts and 8 sub-districts. While the metropolis already has numerous modern residential complexes, active construction continues. Given the decent living standards and relatively lower prices of flats for sale in Hai Phong compared to the capital, many are keen to relocate here permanently or invest.

Since 2015, every foreigner has been entitled to purchase residential property in Vietnam. Previously, this was only available to specific individuals, such as those who made significant contributions to the country's development. Now, foreigners can buy flat in Hai Phong regardless of personal achievements. This means there's no need to consider:

  • specific property requirements;
  • investments in the country's economy;
  • work permits.

In Vietnam, one can buy property under a leasehold ownership form with a usage term of up to 50 years. After approval from the People's Committee, the ownership right is extended for a similar period. Moreover, foreigners marrying locals acquire full property ownership.

The new regulations allow citizens from other countries to rent out their property, resell it, manage it as they see fit, and even buy it on a mortgage or instalment plan. Developers offer flexible payment plans, typically involving 5–10 equal payments. Another key point: with residential property and a residence permit, a foreigner can enter and exit the country without needing a visa.

Is it possible to buy apartment in Hai Phong remotely? Yes. One can either use a company in their home country that collaborates with partners in Vietnam or directly approach local estate agents. To purchase property remotely, a power of attorney drafted by a lawyer in Vietnam is required. This document is sent to the client's country, where they sign it in the presence of a notary. In the power of attorney, the buyer grants the real estate agency the rights to complete the transaction on their behalf.

Apartments prices in Hai Phong

As of 2023, the price per square metre for housing in the city centre is around $1,200. The cost of apartments in Hai Phong outside the centre is approximately $500–600 per square metre. Here are a few examples:

For $94,300, in the Ngo Quyen district on the western coast, one can purchase a 2-bedroom apartment spanning 61 m². It comes fully furnished and equipped. The property is situated in a location with excellent infrastructure. Nearby, there are numerous supermarkets, restaurants, and shopping centres. Within the residential complex, amenities include a swimming pool, fitness centre, and a children's playground.

In the city centre, a luxurious 94 m² apartment is up for sale, boasting 3 spacious bedrooms and panoramic windows. It features a separate room for domestic help. The interior is designed in a minimalist style with natural wood finishes. The kitchen is fully equipped. The residential complex has security services. In this case, the price of the flat in Hai Phong is $205,000.

Let's also consider a studio apartment of 46 m² located in the Le Chan district. This north-western location is one of the most densely populated areas. The residential complex offers a gym and a wellness centre. Nearby facilities include schools, hospitals, and supermarkets. The cost of this flat in Hai Phong is $105,000.

Investment apartments in Hai Phong

According to the Master Plan, Hai Phong is set to expand following the satellite city development model until 2040, with active developments projected to continue until 2050. The aim of this plan is to transform the city into a modernised industrial hub within the country. It's forecasted that by 2030, its population will reach approximately 3 million, leading to a growing demand for housing.

Currently, developers are actively launching commercial and residential projects, attracting investors. Most of the market offerings are concentrated in the Le Chan district, with the Tui Nguyen area also gaining popularity. Since 2019, the average price of apartments in Vietnam in the primary housing market has been increasing by 8% annually.

Experts attribute the real estate market's growth to the city's historical significance and its economic potential. New roads, docks, and transport links are being constructed, connecting Hai Phong to other regions of the country, making the city more accessible. The development of industry and tourism is leading to new job opportunities, drawing more workforce to the city.

The housing market is promising, as properties can always be sold at a higher price than their purchase value. Additionally, with the constant influx of people, properties can be rented out, making investments in flats in Hai Phong worthwhile.

Buying apartments in Hai Phong

Our real estate aggregator website offers a convenient and reliable search for houses in Vietnam. Our catalogue offers search filters to sort listings by price, area, district, and other essential criteria. Start your search for apartments in Hai Phong today! Best of luck!