Vietnam’s economic growth and progressive real estate policies create a surge of interest among domestic and international investors. With its attractive cityscape and peaceful beachfront, Vietnam offers a unique opportunity to invest in a rapidly developing market that promises adventure and return on investment. This article will discuss the top seven best places to buy property in Vietnam for foreigners.
1. Ho Chi Minh City
Ho Chi Minh City, formerly known as Saigon, is the most populous city in Vietnam. Home to over 9 million residents, it is a dynamic hub of culture, history, and commerce. Ho Chi Minh City’s blend of French colonial architecture and towering modern skyscrapers, alongside street markets and the historic Cu Chi Tunnels from the war era, makes it one of the best places to buy property in Vietnam.
Reasons to buy property in Ho Chi Minh City
- Economic growth: Ho Chi Minh City is Vietnam’s economic powerhouse, consistently recording high GDP growth rates of approximately ₫ 1371 billion ($54.84 million) in 2022. This thriving economic environment makes it an attractive city for foreign investors buying a house in Vietnam.
- Surging housing demand: With over 50% of the population under 35, modern and affordable housing demand is rising, making it one of the best places to buy property in Vietnam. This increases the potential for property investments to meet the growing need for residential and commercial spaces.
- Increasing international attention: Ho Chi Minh City is attracting global attention, with $915.6 million in Foreign Direct Investment (FDI) and over 3 million tourists visiting in 2024, establishing it as one of the best places to buy property in Vietnam.
- Major infrastructure development: Infrastructure projects such as the $4.2 billion Metro Line 1 and the planned Long Thanh International Airport, set to be the largest airport in Vietnam, are enhancing connectivity. These megaprojects are poised to raise property values in their vicinity and reflect the government’s commitment to modernizing the city’s transport systems.
Property prices in Ho Chi Minh City
| Type | Median price | Median price/sq. | Median rent price | Rental yield |
|---|---|---|---|---|
| Condo | ₫ 4.3 billion ($171,800) | ₫ 86.22 million ($3,449) | ₫ 29.72 million ($1,189) | +8.3% |
| House | ₫ 4.3 billion ($171,800) | ₫ 171.37 million ($6,855) | ₫ 73.43 million ($2,937) | +20.5% |
| Townhouse | ₫ 4.3 billion ($171,800) | ₫ 68.48 million ($2,739) | ₫ 45.24 million ($1,810) | – |
| Land | ₫ 4.3 billion ($171,800) | ₫ 167.24 million ($6,690) | ₫ 42.53 million ($1,701) | – |
| Commercial | ₫ 4.3 billion ($171,800) | ₫ 151.9 million ($6,076) | ₫ 34.87 million ($1,395) | +9.7% |
| Apartment | ₫ 4.3 billion ($171,800) | ₫ 96.3 million ($3,852) | ₫ 28.52 million ($1,141) | +8.0% |
2. Hanoi
Hanoi, the capital of Vietnam, is a burgeoning center of culture, commerce, and historical heritage. With a population of approximately 8 million, this city is known for its centuries-old architecture, street markets, and a rich culinary tradition that attracts food enthusiasts from around the globe. Beyond its cultural allure, Hanoi is rapidly emerging as a critical financial hub, making it one of the best places to buy property in Vietnam.
Reasons to buy property in Hanoi
- Cultural and historical wealth: Home to over 600 temples, pagodas, and more than 1,000 historical sites, Hanoi’s deep cultural roots enhance property values. It offers a unique living experience and is the best place for culturally inclined foreigners to buy property in Vietnam.
- Booming tourism sector: In 2024, Hanoi attracted approximately 11.4 million international tourists. This affirms the city’s status as a premier tourist destination, fueling short-term rentals and hospitality properties. With total tourism revenue estimated at ₫ 586100 billion ($23.44 billion), investors in this sector are well-positioned to achieve substantial returns.
- Education and tech hub: Hanoi has over 50 universities and a burgeoning tech scene, particularly in the Hoa Lac Hi-tech Park, which aims to attract up to $3 billion in investment. Hanoi has become one of the best places to buy property in Vietnam for students and tech professionals, continuously driving rental housing demand.
- Sustainable urban development plans: The government’s $12 billion investment in infrastructure improvements by 2030 underlines Hanoi’s future as a sustainable and smart city. Green housing projects and developments conforming to international environmental standards are expected to offer significant long-term value retention through enhanced liveability and efficiency, making it one of the best places to buy property in Vietnam.
Property prices in Hanoi
| Type | Average price | Average price/sqm. | Median rent price |
|---|---|---|---|
| House | ₫ 4.19 billion ($167,560) | ₫ 102.91 million ($4,116) | ₫ 48.72 million ($1,949) |
| Condo | ₫ 3.23 billion ($129,200) | ₫ 41.78 million ($1,671) | ₫ 11.52 million ($461) |
| Townhouse | ₫ 4.3 billion ($171,800) | ₫ 124.7 million ($4,988) | ₫ 28.65 million ($1,146) |
| Land | ₫ 2.25 billion ($90,040) | ₫ 36.93 million ($1,477) | ₫ 31.98 million ($1,279) |
3. Da Nang
With an estimated population surpassing 1.2 million, Da Nang is where tradition meets modernity. It is renowned for its beaches, the iconic Marble Mountains, and the Dragon Bridge that lights up the night sky. This city has quickly become one of the best places for tourists and investors to buy property in Vietnam.
Reasons to buy property in Da Nang
- Enhancing quality of life: Da Nang has been internationally recognized for its strategic urban planning. The city is ranked as one of the most livable cities in Vietnam, and its low crime rates, clean air, and modern amenities make it one of the best places to buy property in Vietnam.
- World-class infrastructure: The city has seen substantial infrastructural investments, with over $2 billion funneled into various projects over the past five years to enhance connectivity and facilities.
- Diverse property options: The city offers many properties, from high-rise condominiums with ocean views to luxury villa compounds. Tourist-popular areas in Da Nang experience strong rental demand, making it one of the best places to buy property in Vietnam, delivering investment returns of 6-8%.
- Thriving tourism industry: In the first half of the year, Da Nang witnessed a 40% increase in international visitor arrivals. This surge has markedly boosted the hospitality sector, making investments in short-term vacation rentals more profitable.
Property prices in Da Nang
| Type | Median price | Median price/sq. | Median rent price |
|---|---|---|---|
| Condo | ₫ 3.89 billion ($155,760) | ₫ 66.6 million ($2,664) | ₫ 11.21 million ($448) |
| House | ₫ 4.3 billion ($171,800) | ₫ 96.24 million ($3,850) | ₫ 22.43 million ($897) |
| Townhouse | ₫ 3.91 billion ($156,480) | ₫ 30.07 million ($1,203) | ₫ 19.01 million ($761) |
| Land | ₫ 3.39 billion ($135,480) | ₫ 31.9 million ($1,276) | ₫ 11.61 million ($464) |
| Commercial | ₫ 4.3 billion ($171,800) | ₫ 24.73 million ($989) | ₫ 32.66 million ($1,306) |
| Apartment | ₫ 4.24 billion ($169,720) | ₫ 87.59 million ($3,504) | ₫ 13.95 million ($558) |
4. Nha Trang
Nha Trang, a coastal city in Khanh Hoa Province with over 500,000 residents, is renowned for its crystal-clear waters and nightlife. This city is Famous for its dive sites, island getaways, and the beauty of islands such as Hon Mun and Hon Tre. Its unique blend of natural beauty and urban convenience attracts foreigners.
Reasons to buy property in Nha Trang
- High demand for accommodations: Nha Trang’s properties boast 70% higher occupancy rates during tourism peaks, attracting over 6 million tourists annually. This constant influx translates to a high demand for vacation rentals, making it one of the best places to buy property in Vietnam.
- Growth in real estate value: The real estate market in Nha Trang has shown a Compound Annual Growth Rate (CAGR) of approximately 8-10% in property values over the past five years. This steady appreciation makes it one of the best places to buy property in Vietnam, strongly indicating the city’s potential for long-term capital gains.
- Expanding expat community: Nha Trang’s foreign community is booming, increasing by over 15% in the last decade. This growth has led to a heightened demand for rental and residential properties tailored to meet Western comforts, further stimulating the local real estate market.
- Natural and cultural attractions: Nha Trang is blessed with natural beauty and cultural heritage. The city’s 6-kilometer-long beach, various water sports activities, and sites like the Po Nagar Cham Towers make it one of the best places to buy property in Vietnam.
Property prices in Nha Trang
| Type | Median price | Median price/sq. |
|---|---|---|
| Condo | ₫ 4.02 billion ($160,920) | ₫ 62.49 million ($2,500) |
| House | ₫ 4.2 billion ($167,880) | ₫ 40.69 million ($1,627) |
| Land | ₫ 3.94 billion ($157,560) | ₫ 36.24 million ($1,449) |
| Commercial | ₫ 1.6 billion ($64,000) | ₫ 34.88 million ($1,395) |
| Apartment | ₫ 1.85 billion ($73,840) | ₫ 38.58 million ($1,543) |
5. Hoi An
Hoi An, a peaceful town on the central coast of Vietnam, is known for its well-preserved Ancient Town, brimming with history and culture. This locale, recognized as a UNESCO World Heritage Site, is the best place to buy property in Vietnam for cultural enthusiasts. With a population of approximately 150,000 and a neighborly vibe, Hoi An fascinates visitors with its lantern-lit streets, traditional shopfronts, and calm river setting.
Reasons to buy property in Hoi An
- Protected cultural landscape: As a UNESCO World Heritage Site, major structural changes within Hoi An are strictly regulated. Due to these preservation efforts, properties in or near the Ancient Town are more likely to appreciate, helping to maintain the historical charm that attracts tourists and property buyers.
- Eco-tourism potential: The local government has introduced initiatives like the Sustainable Tourism Development Project, funded with $3 million to promote eco-friendly practices, making it one of the best places to buy property in Vietnam. This push towards sustainability underscores the appeal and profitability of eco-tourism-related investments in the area.
- Peaceful lifestyle: Hoi An offers a rare combination of tranquil living and rich cultural exposure. Strict regulations on structural developments and vehicle use in key areas preserve the town’s peacefulness and historic charm, making it the best place to buy property for those seeking a quiet life.
- Boutique accommodations: Hoi An’s boutique hotels, often repurposed from iconic shophouses or designed to align with the city’s historical aesthetics, are among the best places to buy property in Vietnam for foreigners seeking personalized and culturally rich experiences. With occupancy rates often exceeding 80%, boutique accommodations in Hoi An represent a substantial investment opportunity with considerable returns.
Property prices in Hoi An
| Type | Median price | Median price/sq. |
|---|---|---|
| Condo | ₫ 2.24 billion ($89,680) | ₫ 44.14 million ($1,765) |
| House | ₫ 4.3 billion ($171,800) | ₫ 61.52 million ($2,461) |
| Apartment | ₫ 3.901 billion ₫ 3.9 billion ($156,040) | ₫ 54.66 million ($2,186) |
6. Phu Quoc
Phu Quoc, Vietnam’s largest island in the Gulf of Thailand, is known for its clear waters, white sandy beaches, and tropical landscapes. With a population of approximately 179,48, Phu Quoc is a thriving tourist destination and a significant cultural hub, famous for its high-quality fish sauce and local markets. Designated as a Special Economic Zone (SEZ), Phu Quoc is poised for rapid economic growth, making it one of the best places to buy property in Vietnam from across the globe with its unique blend of natural beauty and investment potential.
Reasons to buy property in Phu Quoc
- Special Economic Zone (SEZ) advantages: When buying a house in Vietnam, investors can enjoy tax exemptions and reductions, such as a 50% reduction in income tax and exemptions from land lease fees for projects started before 2024.
- Sustainability commitment: Initiatives like the Phu Quoc Marine Protected Area aim to conserve marine biodiversity, adopt green practices in new developments, align with global environmental trends, and add long-term value to the island’s properties.
- Resort-style living: Phu Quoc has become a hotspot for luxurious living and vacation homes. Its property market makes it one of the best places to buy property in Vietnam, showcasing a 30% demand spike in beachfront villas, sophisticated apartments, and exclusive gated communities.
- Direct international flights increase: Phu Quoc International Airport has expanded its list of direct flights to include over ten countries, making it one of the best places to buy property in Vietnam. In 2019 alone, the airport facilitated the travel of around 4 million passengers, marking a 27% increase from the previous year, thereby significantly enhancing the island’s accessibility and property value.
Property prices in Phu Quoc
| Type | Median price | Median price/sq. |
|---|---|---|
| Condo | ₫ 3.65 billion ($146,040) | ₫ 81.7 million ($3,268) |
| House | ₫ 4.3 billion ($171,800) | ₫ 40.26 million ($1,611) |
| Townhouse | ₫ 4.3 billion ($171,800) | ₫ 28.45 million ($1,138) |
| Land | ₫ 1.36 billion ($54,520) | ₫ 10.63 million ($425) |
7. Vung Tau
Vung Tau, a coastal city on the southern tip of Vietnam, is an emerging beacon for sea lovers. With a population of approximately 464,860, it enjoys the harmony of urban development and natural beauty. Vung Tau is known primarily for its significant role in Vietnam’s oil and gas industry and stunning seaside vistas. This city, merely a few hours’ drive from the dynamic Ho Chi Minh City, is the best place to buy property in Vietnam for foreigners seeking a weekend retreat.
Reasons to buy property in Vung Tau
- Weekend retreats: The city promises an easy transition from urban chaos to beachside relaxation, making it one of the best places to buy property in Vietnam focused on short-term rentals and vacation homes. Its proximity to Ho Chi Minh City ensures a steady influx of weekend tourists, bolstering demand for accommodation and services.
- A paradise for seafood lovers: The city promises maritime riches, with fisheries landing thousands of tons of seafood annually. This is reflected in the local markets and restaurants, offering seafood delicacies at prices significantly lower than in the larger cities.
- Central to the oil and gas sector: Vung Tau hosts significant operational bases and refineries. This industry drives the economy and creates jobs for diverse locals and foreigners. It is one of the best places to buy property in Vietnam because there is a constant demand for housing from people looking for convenient places to live.
- Advancements in healthcare: The development of international-standard clinics and hospitals, some offering advanced treatments, is raising the city’s living standards. This makes it one of the best places to buy property in Vietnam for foreigners because it signals a positive environment for long-term investment and residency.
Property prices in Vung Tau
| Type | Median price | Median price/sq. | Median rent price |
|---|---|---|---|
| Condo | ₫ 2.76 billion ($110,400) | ₫ 57.11 million ($2,284) | ₫ 9.9 million ($396) |
| House | ₫ 4.3 billion ($171,800) | ₫ 64.82 million ($2,593) | ₫ 14.81 million ($592) |
| Townhouse | ₫ 4.3 billion ($171,800) | ₫ 75.79 million ($3,031) | – |
| Land | ₫ 2.62 billion ($104,920) | ₫ 7.27 million ($291) | – |
| Commercial | ₫ 4.3 billion ($171,800) | ₫ 51.24 million ($2,050) | – |
| Apartment | ₫ 2.7 billion ($108,040) | ₫ 51.99 million ($2,080) | ₫ 12.87 million ($515) |
What is the best place to live in Vietnam for expats?
Ho Chi Minh City is the best place to live in Vietnam for expats, especially those moving there for work. Despite its notorious traffic, it is an opportunity hub in fields like teaching, technology, and tourism, offering immense professional growth. The city’s growing foreign community makes it one of the best places to buy property in Vietnam, ensuring newcomers quickly feel home. Accommodations are plentiful and varied, fitting any budget, and the lifestyle in Ho Chi Minh City is enhanced by its abundance of facilities, including international schools, top-notch healthcare, diverse dining options, and leisure activities. This city is where personal life and professional opportunities flourish, making it one of the best places to buy property in Vietnam for foreigners and job seekers.
What are the best cities in Vietnam for foreigners to invest in property?
Vietnam’s dynamic growth and welcoming foreign investment approach make it an attractive market for property investors. Here are the best cities in Vietnam for foreigners to invest in property:
- Ho Chi Minh City: Showcases a compelling mix of modern skyscrapers with historic French colonial architecture. Its focal point of rapid development and an expanding foreign community makes it one of the best places to buy property in Vietnam.
- Hanoi: Steeped in rich cultural history yet with a booming economy, Hanoi embodies the soul of Vietnam, merged with modern aspirations. This dual charm makes it one of the best places to buy property in Vietnam, attracting a diverse pool of investors drawn to its residential and commercial properties.
- Da Nang: Marked by its enchanting coastline and status as a portal to central Vietnam’s UNESCO Heritage sites, Da Nang marries natural splendor with urban development. This unique combination makes it one of Vietnam’s best places to buy property. It has a burgeoning hub for tourism and residences and promising lucrative investment opportunities in residential and holiday rental properties.
Looking to buy property in Vietnam? Let our experts guide you!
Buying property in Vietnam as a foreigner can be challenging, from understanding local laws to finding the right location that matches your investment goals. Our experienced team is here to assist you throughout the process, ensuring that you make informed decisions and avoid any pitfalls. Whether you need help with the entire purchase or just specific steps, we’re ready to provide expert support. Leave your details below, and we’ll be in touch, or email us directly at [email protected] for personalized advice.
Frequently Asked Questions (FAQs)
What are the cheapest places to live in Vietnam?
The cheapest places to live in Vietnam are Da Nang, Hoi An, Nha Trang, and Vung Tau, where a budget of ₫ 19.73 million ($789) to ₫ 27.13 million ($1,085) per month covers housing, utilities, housekeeping, groceries, and dining out.
Are there any restrictions on foreign ownership in Vietnam?
Yes, there are restrictions on foreign ownership in Vietnam; foreigners cannot directly own land but can acquire property rights through long-term leases of up to 70 years.
Which areas in Vietnam offer the best rental yields for property investors?
The areas in Vietnam that offer the best rental yields for property investors are Ho Chi Minh City and Hanoi, which provide high returns, with Ho Chi Minh City having rental yields of around 5.5% and Hanoi around 4.8%.
Is it better to buy property in coastal areas or major cities in Vietnam?
Buying property in major cities in Vietnam for investment purposes is better due to their higher economic growth and rental demand.
