Authored by the expert who managed and guided the team behind the Vietnam Property Pack
Yes, the analysis of Ho Chi Minh City's property market is included in our pack
What do the latest numbers reveal about Ho Chi Minh City’s real estate market? Are property prices on the rise, or are they stabilizing? Which districts offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Ho Chi Minh City, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
How this content was created 🔎📝
1) Properties in District 7 are favored by expatriates, making up 40% of all rentals
District 7 is a top choice for expatriates, with 40% of all rentals in the area.
Back in 2023 and 2024, District 7 was seen as a rising star in Ho Chi Minh City. It drew in digital nomads and those who loved a suburban vibe, naturally attracting many expatriates. The area boasts modern apartment blocks, tree-lined streets, and quiet roads, making it perfect for those wanting a peaceful and comfortable lifestyle.
While we don't have exact figures to confirm that District 7 makes up 40% of all rentals, the area's reputation speaks volumes. It's known as a hotspot for digital nomads and remote workers, which often includes expatriates. This reputation likely contributes to its high demand among expatriates.
District 7's appeal lies in its blend of modern living and tranquility. The area offers a unique mix of urban convenience and suburban calm, making it a preferred choice for those seeking a balanced lifestyle. This combination is a big draw for expatriates looking for a home away from home.
Expatriates are particularly drawn to District 7 for its serene environment and modern amenities. The district's peaceful atmosphere and contemporary living spaces make it an attractive option for those looking to settle in Ho Chi Minh City.
With its growing popularity, District 7 continues to be a magnet for expatriates. Its modern infrastructure and tranquil setting make it a standout choice for those seeking a comfortable and serene living experience in the city.
Sources: Digital Nomads World, William Russell, AIRINC
2) High-end apartment maintenance fees average $1.50 per square meter annually
In Vietnam, maintenance fees for high-end apartments are often calculated as a percentage of the apartment's value, typically around 2%.
These fees are crucial for keeping common areas and facilities in top shape, like elevators and lighting systems. In upscale developments, these amenities are more luxurious and advanced, which can justify a higher maintenance fee.
In bustling cities such as Ho Chi Minh City, property prices range from $2,000 to $4,500 per square meter. This suggests that maintenance fees could be quite significant, reflecting the cost of maintaining these upscale amenities.
Interestingly, the average annual maintenance fee for apartments in high-end developments is $1.50 per square meter. This figure might seem modest, but it aligns with the need to maintain the luxurious features these properties offer.
For potential buyers, understanding these fees is essential. They ensure that the property remains in excellent condition, preserving its value and appeal. The investment in maintenance is a small price to pay for the comfort and prestige of living in such a development.
So, when considering a property purchase in Vietnam, factor in these maintenance fees. They are a key part of the overall cost and ensure the longevity and quality of your investment.
Sources: Luat Vietnam, William Russell, PSA Vietnam
We made this infographic to show you how property prices in Vietnam compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
3) Residential property values in suburban areas like Binh Chanh increased by at least 6% in 2024
In 2024, residential property values in suburban districts like Binh Chanh grew by at least 6%.
The real estate market in Ho Chi Minh City, including Binh Chanh, bounced back after a challenging 2023. By the first nine months of 2024, the market showed positive growth, reaching about 6-7%. This was a big shift from the previous year, showing renewed interest and investment in the area.
Specific projects in Binh Chanh played a role in this growth. Gamuda Land started taking reservations for The Meadow, a low-rise development with 212 townhouses and villas. Nam Long Group also announced a new phase of high-rise apartments at Mizuki Park, launching in September 2024. These projects boosted the supply of homes and drew more buyers to the area.
Land transactions saw a significant rise, increasing by 28% in Q2 2024 compared to Q1. While residential transactions dipped due to high prices and buyer hesitation, the strong demand for land helped push property values up.
These developments indicate a robust recovery in the suburban real estate market, with Binh Chanh leading the way. The combination of new projects and increased land transactions has made the area more attractive to potential buyers.
Sources: Arcadia Consult, VietnamPlus
4) Short-term rentals near tourist areas are yielding up to 10% annual returns in 2025
In 2025, short-term rental properties near tourist hotspots are seeing up to 10% annual returns.
Despite the 2023 Housing Law tightening regulations, the demand for these rentals remains strong. In bustling areas like Phú Nhuận, Bình Thạnh, and District 1, property prices have surged by 10-15% in the first half of 2024. Travelers are drawn to short-term rentals for their affordability, privacy, and flexibility, making them a preferred choice over hotels.
This preference keeps the market lively, even with regulatory hurdles. Short-term rentals are often more budget-friendly than hotels, attracting tourists and driving demand, which supports higher rental prices. The location of a property plays a crucial role in its potential for high returns.
Properties in prime tourist areas naturally attract more visitors, boosting occupancy rates and profitability. Effective management and adherence to local regulations are key for investors looking to capitalize on this trend. Those who master these elements can tap into lucrative opportunities in the short-term rental market.
Investors who navigate these factors effectively can benefit from the rising demand and prices. The market's resilience, even amid regulatory changes, highlights the enduring appeal of short-term rentals. With the right strategy, investors can maximize their returns in this thriving sector.
In summary, the combination of location, management, and compliance with regulations creates a promising landscape for short-term rental investments. As demand continues to grow, properties in tourist areas offer significant financial rewards for savvy investors.
Sources: Source 1, Source 4, Source 5
5) Homes within 500 meters of metro stations are priced about 15% higher than those farther away
Living near a metro station in Ho Chi Minh City means paying about 15% more for a property.
Why? It's all about better connectivity and convenience. People love the idea of hopping on a train and getting anywhere in the city quickly. This isn't just a local trend; it's a pattern seen in cities worldwide. Reports consistently show that properties close to metro stations are in high demand, driving up prices.
Take a look at the numbers: properties within 701 to 900 meters of a metro station have seen a 13% price increase. While this isn't exactly the 500-meter mark, it clearly shows that being near a metro station boosts property values. The closer you are, the more you pay, and the more you benefit from the convenience.
Consider Bcons Avenue, a project near the Suối Tiên Metro station. It's a prime example of how proximity to metro lines makes an area more attractive. People are drawn to these locations because they offer easy access to transportation, which is a huge selling point.
In Ho Chi Minh City, the trend is clear: residential properties near metro stations are hot commodities. Buyers are willing to pay a premium for the convenience of living close to a metro line. This demand is reflected in the higher property values observed in these areas.
So, if you're considering buying a property in the city, think about how much you value easy access to public transport. It might cost more upfront, but the benefits of living near a metro station could be worth it.
Sources: Vietnam Plus, Bcons, Dantri
Don't buy the wrong property, in the wrong area of Ho Chi Minh City
Buying real estate is a significant investment. Don't rely solely on your intuition. Gather the right information to make the best decision.
6) Properties with river views are priced up to 20% higher than those without views
In Ho Chi Minh City, properties with river views are priced up to 20% higher than those without.
This price difference is largely due to the luxury perception associated with river views. People see these properties as exclusive and prestigious, which naturally boosts their value. In a bustling city like Ho Chi Minh, the demand for such desirable living spaces is high, contributing to their elevated price tags.
Market trends reveal a growing interest in high-end condos and penthouses, many of which boast river views. This demand for upscale living spaces with scenic views has significantly influenced the real estate market, pushing property prices upward.
In recent years, particularly in 2023 and 2024, the desire for luxurious living spaces has surged. This trend is evident in the increased demand for properties with river views, which are seen as more desirable and exclusive.
As the city continues to grow, the appeal of river views remains strong. The combination of urban living with natural beauty makes these properties highly sought after, further driving up their prices.
For those considering a property purchase in Ho Chi Minh City, understanding the premium placed on river views is crucial. This knowledge can help buyers make informed decisions in a competitive market.
Sources: FazWaz.vn, Real Estate Asia, DotProperty.com.vn
7) Renovating older properties in Ho Chi Minh City costs between $20,000 and $50,000
Buying an older property in Ho Chi Minh City means considering renovation costs, which typically range from $20,000 to $50,000.
These costs are driven by rising construction expenses, with new builds costing between 3,350,000 to 6,700,000 VND per square meter, depending on the finish. If you're thinking about updating an older home, expect to pay for essential tasks like flooring, painting, and window replacements.
For example, redoing the floors in a 200m² space might set you back 8,800,000 VND. Painting a larger house, say 810m², could cost around 27,540,000 VND. And if the doors and windows need an upgrade, you're looking at spending between 22,950,000 VND to 38,400,000 VND.
Don't forget about the crucial systems like electrical and plumbing. Installing new ones is vital for safety and can cost about 28,800,000 VND. These are not just optional upgrades; they're necessary to bring older homes up to modern standards.
When you add up all these individual expenses, a full renovation project can range from 150 million to over 300 million VND, or roughly $6,500 to $13,000 USD. But remember, older properties often come with hidden challenges, pushing the total closer to that $20,000 to $50,000 mark.
Sources: Kien Truc Viet Quang, Kien Truc Viet Quang, Numbeo
8) Buildings in the city center average 20 to 25 years old
Ho Chi Minh City has seen rapid urban development over the past few decades.
This boom has led to the rise of modern high-rise buildings, dramatically changing the city's skyline. In bustling areas like District 1 and District 3, many historic buildings have been replaced, creating a unique blend of old and new architecture.
The city center's buildings are relatively young, with an average age of 20 to 25 years. This reflects the recent surge in urban development and the constant renewal of the cityscape.
This quick turnover of buildings affects the property market. The age of a building can influence apartment prices, with older buildings often being cheaper due to their age and condition.
In the heart of the city, the mix of architectural styles is a testament to the ongoing transformation of Ho Chi Minh City. The contrast between sleek skyscrapers and older structures tells a story of change and growth.
As the city continues to evolve, the property market remains dynamic, offering opportunities for those looking to invest in a place where modernity meets tradition.
Sources: Britannica, MDPI, Saigoneer
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Vietnam. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
9) Construction costs for new residential buildings rose by 4% to 6% in 2024
The construction cost for new residential buildings in 2024 has seen an increase of 4% to 6%.
In 2023, the labor cost index jumped by 6.5% from the previous year. This rise was largely due to a shortage of skilled workers and a surge in demand for construction projects.
Material costs also played a role, with the index climbing by 2%. Supply shortages and inflationary pressures pushed up prices for key materials like asphalt, paint, and geotechnical supplies.
These combined factors have driven up construction costs for new residential buildings, particularly in Ho Chi Minh City.
For potential property buyers, understanding these cost dynamics is crucial. The increase in construction costs can impact property prices and availability.
Keeping an eye on these trends can help you make informed decisions when considering a property purchase in the area.
Sources: Thoisbaonganhang.vn, Kientrucvietquang.net
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.