Comfort is a priority when it comes to humans, everything we do leads to us being able to live our lives comfortably, and this claim still speaks true when it comes to real estate. Real estate involves the acquisition and trade of land or landed properties, which might be an empty land or one with properties or structures whether man-made or natural.
There are many reasons why one would want to buy a property but one can also round them up and say there are two reasons; for investments or tourism. Buying real estate in Vietnam is easy as pie, there are no restrictions on foreigners owning landed properties, coupled with the fact that they are one of the top commercial hubs in the entire Southeast Asia, they have a lot of supportive policies in place to help foreigners settle in with little to no hassle. This must be why real estate is thriving in Vietnam now.
What does real estate in Vietnam look like?
Real estate in Vietnam is on the rise at the moment, and it doesn’t even seem to be nearing its peak yet. Over the years, local specialization jobs like farming, fishing, and forestry have been the leading industry, followed closely by the manufacturing industry. However, in the past three years, the real estate industry has entered the fray and is now second only to the manufacturing industry which is now topping the commercial market in Vietnam. The rapidly growing economy of Vietnam has led to a rise in demand for real estate.
Vietnam is already a country with a lot of heritage sites that serve as cool tourist spots. They have 8 UNESCO heritage sites in different cities of the country and over 100 temples dating back 100 years. The fact that their politics and policies are stable and accommodating also led to the rise in demand for residential and commercial real estate properties by foreign investors and expatriates. Right now, real estate accounts for about 3.46% of the country’s GDP, and the market size is expected to continue to increase exponentially. Do you need a few pointers on buying real estate in Vietnam?
Tips for buying property in Vietnam
As a potential investor of real estate in Vietnam or a tourist looking for residential properties, here are a few tips for buying real estate in Vietnam:
- Compare and Analyze the Market: It is not always advisable to jump at the first prices that you are offered when buying a property. Well, if it checks all the boxes then you can go ahead and seal the deal. Optimally, you want to have different options, you never know, you might get a better deal. Tourists buying residential buildings would have to consider the prices and value of these properties. How does this best the others? Why should I pay this much for one bedroom when I can get a 2-bedroom at the same price? Etc. Investors however have to do more analysing since they will likely be holding onto the property longer than the former. Since there is a risk of fluctuation in property value, they need to look through all agents of economic changes starting from the local to the country level.
- Location: As a country, Vietnam is filled with lots of cities each with its distinct characteristics and advantages. From their precious capital city of Hanoi to their proud metropolis Ho Chi Minh, to other cities hosting the heritage sites Hoi An, Hue, Ha Long, Thang Long, Trang An Phong Nha-Ke, and lots more. Vietnam without exaggeration is not an expensive place to live or buy real estate but do not expect the prices of these cities to be the same. Expect Ho Chi Minh to be the most expensive place on this list, it is their commercial center and a top choice for many foreigners to set up their business. The priorities for a tourist and an investor change at this point, so choose the location based on your preference.
- Timing: Timing is another important factor to consider, as it greatly affects the prices of real estate. You need to know when to actively enter the market to maximize your gains. This is not only to investors but even tourists. Things can be a little hectic in countries like Vietnam especially when they have a festival coming or ongoing. There is no harm in renting or buying a place in preparation for your visits.
You would have to admit that these three conditions are easier said than done, right? But what if you can fulfill them from the comfort of your home?
Taking the first step to buy real estate in Vietnam
What is more convenient than being able to buy real estate in another country from your home, compare prices, analyze the market, internally debate on a location of your choice, and do it anytime you want? Sounds impossible? Vietnam-real.estate is what you would call a real estate aggregator, whose job is to find and make a catalog of all available real estate for rent or sale in Vietnam. Said properties are always displayed with their image or proposed building in the case of an off-plan type of properties, alongside the prices and their locations. The possibilities are nigh endless, you can assess properties from the different cities, districts, and regions of Vietnam. Property types include but are not limited to:
Residential Properties like:
- Apartments
- Townhouses
- Villas
- Penthouse
- Condominiums
Commercial properties like:
- Cafes
- Restaurants
- Office/Office buildings
- Hotels/Hotel buildings
- Shops
- Warehouses
Lands and off-plan buildings are also available, how amazing is that?!
Conclusion
All That is Left
Investment takes a lot of thinking like tourism takes a lot of planning, but with this article, you can be confident that the real estate aspect is settled. It introduced the state of real estate in Vietnam and there are three simple tips for you to peruse and deliberate on. This article also introduced Vietnam-real.estate as a top real estate aggregator website, they have an active customer service that can take care of any questions you might have later. In conclusion, buying real estate in Vietnam is easy, and like they say: the world makes way for a man who knows where he is going. All that is left is for you to take the first step.