Vietnam’s booming economy has guaranteed a lucrative growth in the country, which in turn, tremendously boosted the property market in its cities, including its capital Hanoi and Ho Chi Minh City (HCMC). Both cities has implemented a number of strategic infrastructure and developmental projects to power its economic trajectory, coupled with the new residential housing law implemented which allow foreigners to buy properties in the country for a 50-year leasehold, stimulating an active growth in Vietnam’s property market.
The capital, Hanoi, has implemented a number of strategic infrastructure and developmental projects to further increase its comparative advantages including a major metro system to be completed in 2020, the expansion of Noi Bai International Airport, and transforming Nam Từ Liêm into the new CBD. These factors are predicted to stimulate an active growth in Hanoi’s property market. With the farseeing scarce supply of housing, a rising middle class population and income, the demand for housing will continue to increase, which may promise a high investment yield.
Ho Chi Minh City, formerly known as Saigon, is a thriving metropolis and Vietnam’s centre of commerce. As the most populous city, it accounts for over 20% of GDP of Vietnam, playing a vital role in economy, culture and education. Its comprehensive plan for socio-economic development includes the new airport terminal by Year 2025 and the upcoming Metro Lines (MRT) by Year 2020 has successfully nurtured the promising city to bloom to greater heights.