While the central real estate market lacks new supply, The Grand Manhattan is seen as a sustainable settlement option, seizing opportunities ahead of real estate market recovery. Real estate in downtown areas has long been in the favored portfolio of experienced investors. Property Launch is your real estate finder in Vietnam, offering a wide range of properties for rent and for sale in Saigon. While foreigners have been able to buy property since 2008, the policies allowing foreigners to own land have been restrictive. It’s permitted, but generally buying property has not really taken off with the expatriate community in Saigon real estate.
Property prices here remain remarkably low with massive potential for growth, so buying a condo in Ho Chi Minh City presents a unique opportunity to take advantage of Vietnam’s economic boom. Vietnam’s real estate market stayed closed to foreign investors until fairly recently. Today, you can effectively obtain a long-term, 50 year lease on practically any property in the whole country. However, the Vietnamese government has warmed up to outside investment in recent years. In 2015, for instance, it lifted restrictions on foreign property ownership.
However, Districts 5 and 10 do not have the international amenities of more central areas. Street stalls and markets are more common than restaurants, and only a handful of expats live here. Condos here are extremely affordable, and these districts are poised to gain from HCMC’s continued expansion. While you won’t find sprawling gated communities in District 3, you’ll find plenty of high-end developments alongside historic buildings. This gives you plenty of interesting options when buying a condo in District 3.
Gaining in popularity, this area has potential investment opportunities in the long term. 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. 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. 4 Bedroom Apartment for sale at Masteri Lumiere RiversideMasteri Lumiere Riverside is an apartment project located in heart of Thao Dien’s neighborhood, District 2, Ho Chi Minh City. The Saigon River and the Hanoi Highway surrounds the apartment building….
However, as to ownership duration, foreigners married to Vietnamese citizens or to Viet Kieus are entitled to an indefinite term, whereas foreigners who are not can only own residential housing for a period of 50 years. This can be extended for another 50 years, subject to approval by the provincial People’s Committee where the house is located. Unlike other foreigners, those who are married to Vietnamese citizens are also exempt from notifying the housing administration authority at the district level prior to leasing their houses to others. Apart from that, the new legal framework grants foreigners the same rights of Vietnamese in the cases of subleases, mortgages, etc. of residential housing. Despite certain remaining limitations, the NHL has provided a more open approach to ownership of residential housing for foreigners.
Our website is updated on a daily basis with the most intensive house database. A foreigner with this certification is only allowed to live in the property but not to lease the property to others. Once the ownership certificate has expired, the foreign homeowner can extend the lease for another 50 years. Finding a house or an apartment to rent or to buy in Saigon is probably one of the most crucial factors in making your transition to Vietnam a success story. When there is that mismatch of the developer and the user of the building, it can be harder to make it green because the immediate incentive is not there. You can argue that there is an incentive that you price the units higher when you sell them – President’s Place proved that correct.
Saigon Real Estate Joint Stock Company offers real estate leasing and sale services. The 1,514 feet tall and 81-storey Landmark 81 tower is under construction in Binh Thanh District, near Saigon Bridge. It is part of a 1.5 billion luxurious and multi-functional urban area scheduled to be inaugurated in 2018. Envisaged as an extension of the CBD on the East bank of the Saigon river and estimated to be completed by 2025, it is aimed at becoming a service, finance and trade hub of high quality.
At ibis Saigon Airport, we provide you with all the facilities to truly reenergise you. What is very important to us is the ibis ‘sweet bed’ that can give you a really good rest. And all that, I believe, shows how we really cater to the customers’ needs. Ibis Saigon Airport is the latest addition to AccorHotels’ vast hospitality network in Vietnam. Since establishment, we have always been offering professional and proactive support to both tenants and landlords. Our commitment to building a strong relationship with the landlords has allowed us to become the agent of choice for many tenants and landlords.
Average property values in HCMC are substantially lower than in similar cities, such as Bangkok or Kuala Lumpur. They’re also a small fraction of housing costs in Singapore or Hong Kong. Owning real estate in these areas also allows residents to affirm their status. I have a property for rent, and Property Launch always makes it easy for me and for my client to transact. Young people are interested in sustainable development, which is good to see. Saigon in some ways doesn’t have to follow the same practices as other countries – they have the luxury of learning from others’ mistakes, one would hope.