One unique aspect of Vietnamese real estate is that property purchases were traditionally made in gold, as was customary for large transactions. Today, however, all real estate transactions, especially with developers, must be conducted with the Vietnamese currency, also known as Dong.
It’s no secret that Vietnam is fast becoming one of the most sought-after countries in the region for property investment. With investors expecting to reap sizeable returns of 6% to 7% for residential properties and 9% to 11% for commercial ones, the only question that remains is: Exactly where in Vietnam should a savvy investor look?
That place is Ho Chi Minh City (HCMC)—Vietnam’s largest urban area, and one of Asia’s fastest-growing cities. With the value of HCMC’s real estate market among the region’s most attractive, it’s easy to see why expats and entrepreneurs, even retirees are drawn to it.
Thu Thiem: HCMC’s New Urban Area (NUA)
Among the many investment opportunities in HCMC, the area touted to be the most exciting is the upcoming Thu Thiem NUA in the city’s District 2.