10 Best Cities To Invest In Real Estate In Vietnam

Vietnam’s real estate market has been experiencing a remarkable growth over the years, attracting both domestic and foreign investors. The country’s Gross Domestic Product (GDP) surpassed US$409 billion in 2022, more than triple of what it was a decade earlier [1]. With such sustained growth, Vietnam has maintained its status as an enticing investment destination for foreign investors.

Here are the top 10 cities in Vietnam for real estate investment:

1. Ho Chi Minh City: 

Imagine owning a piece of the vibrant, bustling heart of Vietnam. Ho Chi Minh City, a city that never sleeps, offers you just that opportunity. With a mere $1 million, you can claim 162 square meters of this dynamic city as your own [2]. This city is not just a popular choice among locals, but also has a special place in the hearts of foreign investors. Singapore, for instance, has invested nearly $14.02 billion in this city, making it the biggest investor in HCMC [2].

But what makes Ho Chi Minh City so special? It’s a city that beautifully blends tradition and modernity. From the timeless charm of its French colonial architecture to the sleek skyscrapers that dot its skyline, Ho Chi Minh City is a place of contrasts. It’s a city where you can enjoy a bowl of pho in a bustling street market in the morning, and attend a high-end art gallery opening in the evening.

Investing in real estate in Ho Chi Minh City is not just about owning a piece of property. It’s about becoming a part of a city that’s constantly evolving and growing. It’s about being a part of a city that’s not just a place, but a lifestyle.

Ho Chi Minh City – a piece of the vibrant, bustling heart of Vietnam

2. Hanoi: 

Hanoi, the capital city of Vietnam, where the old world charm meets modern sophistication. This city is a treasure trove of cultural experiences, from the ancient architecture of the Old Quarter to the serene beauty of Hoan Kiem Lake.

In Hanoi, you can explore the rich history of Vietnam at the Ho Chi Minh Mausoleum or the Temple of Literature, indulge in the city’s vibrant street food scene, or shop for unique souvenirs at the bustling Dong Xuan Market. The city is also home to a thriving arts scene, with numerous galleries and theaters showcasing the best of Vietnamese culture.

But Hanoi is not just about history and culture. The city is also a hub of innovation and entrepreneurship. It’s a place where traditional industries coexist with cutting-edge technology, creating a dynamic business environment that’s full of opportunities.

Whether you’re a foodie, a history buff, an art lover, or an entrepreneur, Hanoi has something to offer you. 

Hanoi, the capital city of Vietnam, where the old world charm meets modern sophistication

3. Binh Duong:

Binh Duong had the highest occupancy rate at 95% nationwide in 2023 [3].

4. Ba Ria-Vung Tau: 

Home to the Ho Tram project, one of the largest FDI ventures in the country [5].

5. Da Nang: 

Unveiling the ‘Dynamic City’ of Vietnam, a burgeoning hub for real estate investors. Da Nang, one of the five cities directly under the control of the central government, is a key driver of socio-economic development in the central key economic zone of Vietnam, making it a prime location for real estate investments [6].

Da Nang’s strategic location, coupled with its robust economic growth, makes it an attractive destination for real estate investments. The city’s office rental occupancy has remained strong at approximately 79% across all segments, indicating a healthy demand for commercial properties [8].

The city has also seen significant foreign direct investment (FDI), attracting 977 FDI projects with a total investment of over $4 billion, primarily in manufacturing and processing, real estate, and tourism [6]. This trend is expected to continue, with the city striving to attract $7 billion worth of FDI by 2030 [7].

Da Nang’s industrial zones have attracted 77 projects with a total investment capital of USD 27.6 million in the first half of 2023, indicating a strong interest in the city’s industrial real estate [8].

Moreover, the city’s residential condo market is showing signs of recovery, offering potential opportunities for investors in residential real estate [8].

Whether you’re looking to invest in commercial, industrial, or residential properties, Da Nang offers a diverse range of opportunities to meet your investment objectives.

Da Nang, one of the five cities directly under the control of the central government, is a key driver of socio-economic development in the central key economic zone of Vietnam

6. Nha Trang:

Another coastal city with a booming tourism industry, Nha Trang is a popular choice for property investors.

7. Phu Quoc:

Discover the ‘Emerald Island’ of Vietnam, a promising land of opportunity for real estate investors. Phu Quoc, the largest island in Vietnam, is a rapidly developing region with a robust tourism industry, making it an attractive destination for real estate investments.

The island’s strategic location, coupled with its natural beauty and thriving tourism industry, makes it a hotspot for real estate investments. The proximity to amenities, scenic views, and the status of the neighborhood are key factors that contribute to the profitability of real estate investments [9].

Phu Quoc’s real estate market is diverse, offering a range of opportunities from commercial properties such as hotels and resorts to residential properties. The island’s growing popularity as a tourist destination has led to an increase in demand for accommodations, making it an ideal location for investing in rental properties.

The island’s infrastructure is also rapidly developing, with new entertainment complexes like VinWonders Phu Quoc adding to its appeal [10]. Such developments are likely to increase the value of properties in the vicinity, offering potential for capital appreciation for real estate investors.

Moreover, the long-term view of the real estate industry suggests that current prices may seem like a bargain in the future, indicating the potential for significant returns on investments [11].

Phu Quoc presents a compelling opportunity for real estate investors, offering a combination of strategic location, robust tourism industry, and promising long-term growth prospects. Whether you’re looking to invest in commercial or residential properties, Phu Quoc offers a diverse range of opportunities to meet your investment objectives.

JW Marriott Phu Quoc Emerald Bay

8. Can Tho:

As the largest city in the Mekong Delta, Can Tho is experiencing rapid urbanization and economic growth.

9. Hai Phong:

As one of the major port cities in Vietnam, Hai Phong has seen significant infrastructure development, making it an attractive location for real estate investment.

10. Quy Nhon:

With its beautiful coastline and growing tourism industry, Quy Nhon offers promising opportunities for property investors.

The Vietnamese residential real estate market size is expected to grow from USD 22.44 billion in 2023 to USD 40.53 billion by 2028, at a CAGR of 12.55% during the forecast period (2023-2028) [4]. This growth is supported by the country’s rapid demographic and social change, strong economic growth, and rapid urbanization growth.

Investing in real estate in Vietnam is a trend that both domestic and foreign investors are pursuing in 2023. This is a sign of the stability of politics, the economy, supportive policies, and the potential of the Vietnamese market in the context of an economic crisis [3].

In conclusion, Vietnam’s real estate market offers a wealth of opportunities for investors. Whether you’re interested in residential, commercial, or industrial properties, these top Vietnamese investment locations offer promising prospects for high returns on investment.