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What You Need to Know About Ho Chi Minh

Formerly Saigon, Ho Chi Minh is a high-energy, cosmopolitan city brimming with sophisticated restaurants, swanky hotels, mouthwatering street stalls, bustling markets, and modern skyscrapers.

Tan Son Nhat is the busiest airport across Vietnam and is situated less than nine kilometers from the center. This vibrant cityscape blends ancient passageways with designer boutique stores and sleek buildings. Appealing to foreign investors, there has been rapid property interest and strong economic growth across the country.

Vietnam’s property boom shows no sign of holding up with numerous top-quality condo complexes based in downtown Ho Chi Minh. This includes the upmarket development project by Vin Homes enjoying majestic riverside views of the Saigon River. Featuring 2,500-plus stylish condos and around 60 villas, it boasts an international school, exclusive shops, several restaurants, and a marina.

Types of Property in Ho Chi Minh

Currently one of the hottest global leisure destinations, there is growing property demand in Ho Chi Minh City. This is due to a burgeoning middle class, new projects and the increase in real estate prices across regions such as Hong Kong and Thailand. Investors will benefit from an extensive collection of high-end condos and penthouses across the city.

Extending across different towers and developments, there have been nearly 40,000 high-quality apartments constructed in the past few years alone. In fact, the majority of new developments are now being built in Ho Chi Minh. Condo projects tend to be clustered around a couple of zones with many located in the main tourist, retail and business district known as Zone 1.

The biggest development initiative in Golden River offers premium one, two and three-bed apartments. Mid-range condos in Ho Chi Minh City and affordable condo developments can usually be found in Zone 2, 7 and 9.

Popular Areas in Ho Chi Minh

Divided into 19 districts, Zones 2 and 7 is where investors can find affordable properties alongside further planned development projects. Centrally located, Zone 1 is popular with foreigners and is considered the priciest area among numerous areas in Ho Chi Minh. Zone 1 is home to Ho Chi Minh main attractions including the Notre-Dame Basilica, and the Bitexco financial tower. Despite expensive real estate, an upward price appreciation is expected in the next few years.

Zone 2, especially around Thao Dien, is popular among foreign buyers due to its high-quality apartments and family-friendly vibe. Greater investment, an abundance of schools, malls and spacious homes make this district highly livable. Furthermore, a brand new metro line is set to open in 2020 ensuring not only price increases but easy travel between Zones 1 and 2. District 3 is just as bustling and very popular with foreign buyers offering a broad range of cultural influences, cafes, and bars.

Other budget apartments are situated around Zone 5 which has fantastic Chinese restaurants and temples. Far more affordable than central developments, Zone 5 is still within close proximity of downtown Ho Chi Minh.

Zone 7 is a favorite for families looking for more cost-effective properties. With access to golf courses and an array of dining options, it is away from the built-up areas of central Ho Chi Minh. Gaining in popularity, this area has potential investment opportunities in the long term.

Lifestyle in Ho Chi Minh

Ho Chi Minh is Vietnam’s pulsating hub with a dizzying variety of culture, modernity, golden sandy beaches and street-food.

Explore tree-lined boulevards that line this former French colony via bicycle taxi whilst sun-seekers can head to Phan Thiet beach. For retail therapy and vibrant nightlife, there is an abundance of boutique stores, cafes, and bars around Dong Khoi Street. Don’t miss Ben Thanh Market selling numerous goods including traditional cone-shaped hats as well as a host of authentic outdoor restaurants.

Take a stroll around Tao Dan Park based in District 1 and gaze at the Buddhist temple or discover the largest park in the city situated in Saigon Zoo and Botanical Garden. Hire a scooter and ride to explore Vietnam’s past at the War Remnants Museum whilst culture vultures can enjoy a traditional Vietnamese show at the Golden Dragon Water Puppet Theatre.

Top 5 Reasons Why to Invest in Ho Chi Minh

  1. Retail Prospects—there are more and more shoppers in Ho Chi Minh who are displaying their new found wealth and style. With interest in luxury brands reaching an all-time high, consumer spending is on the rise. The city is the main entry for a host of international brands including Louis Vuitton, Prada, and Dior who have opened their first stores in Vietnam. With an emerging brand loyalty, there is lots of market potential.
  2. Economic Epicentre—Ho Chi Minh is at the heart of the majority of economic activities in Vietnam. It is responsible for 20% of Vietnam’s GDP whilst it is growing from strength to strength despite the worldwide recession. The city remains the most appealing destination for foreign investment across the country.
  3. Improving Infrastructure—Ho Chi Minh’s new metro system is being constructed and is due to be completed by 2020. Apartments and condos situated close to brand new metro stations are set to see price increases of up to 20% after the system is completely finished. Tan Son Nhat International Airport is the biggest airport in Vietnam welcoming more than 20 million travelers annually with 40-plus flight routes to several territories from China and Japan to Korea and major European countries.
  4. Rental Yields—Expect steady improvements in rental returns with average potential rates around 6%-8% per annum. This is relatively higher when compared to neighboring cities such as Bangkok, Hong Kong, and Singapore.
  5. Foreign Interest—one of the fastest growing tourist destinations in the world, Ho Chi Minh is in the Top 20 must-visit cities. Predicted to grow rapidly in visitor numbers, overseas tourist arrivals are set to reach more than 10 million people in the next five to six years.