REAL ESTATE IN HO CHI MINH CITY IS MORE ATTRACTIVE THAN HANOI
Housing prices in HCMC tend to increase sharply, there are some areas that rise beyond Hanoi. This reflects the fact that the real estate market in HCMC is much more attractive than in Hanoi.
Reports from some real estate research firms show that prices in HCMC in the Quarter III/2019 are higher than in Hanoi, across all segments. In particular, the central area of Hanoi used to have a recorded high price, but now ranks behind Ho Chi Minh City.
| (including the first 3 quarters of 2019) | HO CHI MINH CITY | HANOI |
| APARTMENT | ||
| Total sales | More than 17,000 | 6,400 |
| No. of projects for sale | 14 | 4 |
| Average primary price (all segments) |
2,067 USD/sqm | 1,473 USD/sqm |
| Growth year over year | Increase 23.8% | Increase 6.5% |
| Status | Strong growth | Growth slowing |
| VILLAS, TOWNHOUSES, SHOPHOUSES (only include products in real estate projects; houses built based on master plan and design from the investor) |
||
| Total new launches | 264 | N/A |
| Total sales | 229 | N/A |
| Average primary price | 4,689 USM/sqm | N/A |
| Growth year to year | Increase 20.2% | N/A |
| Status | Strong growth | N/A |
| OFFICE MARKET | ||
| Average rental value | 28.8 USD/sqm/month | 17.8 USD/sqm/month |
| Growth year to year | Increase 5.9% | Increase 4.0% |
| Status | Rising | Rising |
| RETAIL MARKET | ||
| Average rental value | 45.8 USD/sqm/month | 29.3 USD/sqm/month |
| Growth year to year | Increase 0.2% | Increase 2.8% |
| Status | Stable | Stable |
| INDUSTRIAL MARKET | ||
| Land price | N/A | 95 USD/sqm |
| Growth year over year | N/A | Increase 6.7% |
| Status | N/A | Rising |
According to some real estate transaction companies, HCMC real estate market has selling prices and price growth rate are significantly higher than the Hanoi market.
The reasons why real estate in HCMC is always more attractive than Hanoi:
- Most foreign companies coming to Vietnam choose HCMC to set up their representative office.
- HCMC have more real estate choices than Hanoi.
- The demand for buying and investing real estate in HCMC is always higher than in Hanoi.
- Many investors from Hanoi choose HCMC as a target to invest.
- The ability to exploit real estate business in Ho Chi Minh City market is high, so the fluctuations in price and profit margin are also superior.
Earlier, in a research report, real estate experts from the UK said that HCMC will develop similar to Shanghai (China), but house prices in Ho Chi Minh City are still low currently. In the coming time, it will increase due to the dynamic development of this large economic center.
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