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Find the latest rental rates on the Ho Chi Minh City property market
Ho Chi Minh City was formerly known as Saigon. It’s the largest city in Vietnam, with a population of about 8 million people and is the commercial and business center of the region as most of the banks and financial organizations have their headquarters in this city.
The land that the city stands on was once a part of the Kingdom of Cambodia. Vietnamese entered the region in the 17th century, followed by the French in the 18th century. Saigon was taken over by the French in 1862 and was made as the capital of Cochinchina. It was under Japanese rule from 1940-1945. In 1954, after the First Indochina War, Vietnam was divided into North and South Vietnam in a Geneva Conference, and Saigon was made the capital of South Vietnam.
On April 30, 1975, North Vietnamese military forces, under the leadership of revolutionary and spiritual leader, HoChi Minh, captured Saigon, and the city was later renamed Ho Chi Minh City after the leader. Local Vietnamese however still prefer to call it as Saigon. The city was also formerly known as Prey Nokor when it was a part of the Khmer Empire.
In 1976, North and South Vietnam were reunited under a communist government. It remained weak, backward and politically isolated until 1986 when the newly-elected Communist party began a series of economic and political reforms to improve Vietnam and to make it more attractive to foreign investors. People from all over the world come here to work and holiday, which in turn has created a demand for rental property in Ho Chi Minh City.
The real estate market has correctly identified the demands of the rental market, especially those of expats coming to the city to work, on a short-term or long-term basis. There is a wide choice of properties available for rent, but you need to be clear about your requirements and understand the demographics of the districts correctly, before choosing a rental property.
All types of properties are available here. Cheaper options for student accommodation such as rooms in shared houses, where you share the living room and kitchen and divide the cost of the utilities. If you can afford more and want to have private space, there are expensive options like independent homes, townhouses, villas, condos, penthouses, and serviced apartments. Each type comes has its advantages and disadvantages and with different budgets. The rentals vary depending on the location of the property.
Ho Chi Minh City is the largest city in Vietnam and contains 24 districts which are named by numbers, District 1, District 2 and so on. Some regions are largely occupied by native Vietnamese residents, while there are a few districts which are predominantly occupied by the expat population. Each district, depending on its proximity to schools, hospitals, markets, and recreational facilities demand different rentals for the same size and type of property. Therefore, before embarking on a property hunt, you should have your research done and prioritized the locations you wish to live in.
Ho Chi Minh City has a cosmopolitan feel and is more liberal in its outlook. Its young population is highly ambitious and it is the commercial hub of the country which reflects in the opportunity, optimism, and the enterprising nature of the city.
When it comes to food, the city is a paradise for food lovers. You can taste traditional food like Pho (noodle soup), Banh mi (egg or meat sandwich) and Xoi ga (sticky rice with chicken or quail eggs) for very cheap prices.
Ho Chi Minh City offers a lot of recreational activities, most of which are around the city center. You have city tours, massages, spas, and boat cruises and day trips to Mekong Delta, Chu Chi Tunnels, local villages, and riverside markets.
The city has good medical facilities with both Vietnamese and International hospitals.