Investing in Vietnam: Ho Chi Minh City or Hanoi?
Investing in Vietnam: Ho Chi Minh City or Hanoi?
Vietnam’s main two cities may be poles apart in terms of personalities, but both have plenty to offer investors
The real estate industries of Vietnam’s biggest two metropolises, Ho Chi Minh City and Hanoi, have enjoyed steady growth in recent quarters, thanks to reforms in the market and a renewed interest from local and foreign investors.
Per CBRE Vietnam research, Hanoi property grew by 70 percent in the past year, while the condo segment in Ho Chi Minh City reported an increase of 38 percent in the first quarter.
“People are buying, and queuing to buy,” says Marc Townsend, managing director of CBRE Vietnam. “I didn’t expect to see that again in my lifetime. The last time we had a cycle like this was in 2007.”
Ho Chi Minh City, or Saigon as it is often known, is the commercial hub of the country and has its flashiest bars and restaurants. This glitzy reputation, however, belies the fact that the city boasts plentiful local character and charm, with tree-lined boulevards hosting one of the world’s healthiest street food scenes.
Investors in Ho Chi Minh City will benefit from year-round good weather and cleaner air than in Hanoi as well as better schools and shopping, as well as a future Metro Line to be completed by 2020. However, there are concerns about security as petty crimes are prevalent.
Hanoi, meanwhile, maintains a stronger sense of identity than its southern counterpart.
Full of things to see, from the architecture of the Old Quarter and the French Quarter to Ho Chi Minh’s Mausoleum and the Temple of Literature, the Vietnamese capital lends itself to exploration, the city of Hanoi is also home to one of Asia’s stronger indigenous culinary traditions and features a stellar range of international dining options.
Both cities are attractive property investment destinations, according to CBRE’s Townsend, who will give the State of the Market Address at the upcoming Property Report Congress Vietnam 2016, the country’s biggest real estate conference to be held at the InterContinental Asiana Saigon.
Aside from the keynote speech, the high-level conference will feature engaging panel discussions about Vietnam’s exciting property market, an intensive online real estate marketing workshop, sponsor exhibit from Timhome.vn, and a networking lunch.
The conference, which runs from 10:00 to 16:00 on 10 June, will be immediately followed from 18:00 to 22:30 by the black-tie Vietnam Property Awards 2016 gala dinner and awards ceremony, an exclusive event that will reward the achievements of Vietnam’s exciting property sector with more than 400 in attendance.
Both events are organised by PropertyGuru, Asia’s leading online property group.
Interested parties can register and purchase tickets here to join the Property Report Congress. Special bundle packages for the Congress and the Gala Dinner are still available.
For tickets and bundle packages, email conference director at [email protected] or visit the official website.
With reporting by Thomas Maresca and Richard Allan Aquino
Source: Property Report