Saigon property – real estate in Ho Chi Minh City

As Vietnam’s biggest and most popular city, Saigon commands the highest property prices in the country, with prime locations downtown fetching the same prices they would in New York, Tokyo or London. Freehold property is not available as this is, after all, a Communist state so all land technically belongs to the government.

However, 50-year leases are easy to come by, which is how most expats set up their homes here. Perhaps the most important thing in getting started is to find a reliable agent who can steer you through the legal process safely and without getting stung by mountainous bureaucratic red tape.
 
Saigon rental costs in Ho Chi Minh City

Many foreigners in Saigon are on short-term contracts of a couple of years, so it makes more sense to rent than buy. At the bottom of the scale, a small studio apartment with air-con, hot water, cable TV and WiFi will cost in the region of around US$400 a month. One-or two-bedroom apartments, depending on area, can fetch between US$1000-2000.

Serviced apartments in the centre start at around US$3000 and go up to around US$10,000. To rent a house or villa in an outlying area will cost about the same as an apartment downtown. A couple of agencies with plenty of properties on their books are VN Renting (IndoChina Park Tower, 4 Nguyen Dinh Chieu St, District 1, Tel: +84 (0)9 1402 2806) and Living in Vietnam (Dist.2, An Phu – Ho, Tel: +084 (0)9 1869 4880).

Districts in Saigon for real estate in Ho Chi Minh City

The first thing you’ll need to do to consider yourself a resident of Saigon is to get to know the significance of each district number, as these numbers are key when it comes to seeking somewhere to live. Naturally, to avoid spending a long time in traffic jams, you’ll want to live near your work, which for most people means District 1 or downtown.

If you can find yourself an affordable place here, then you’ll certainly manage to avoid the city’s worst traffic congestion, which takes place on streets leading into and out of District 1 each morning and evening. You’ll also be in the heart of the city’s nightlife with a huge range of restaurants and bars within walking distance.

Needless to say, as the most desirable district for Saigon property, it commands the highest rents, which are climbing all the time. An example of the difficulties this leads to is that recently several well-established downtown restaurants have had to re-locate outside the centre as they could not afford the rents despite their popularity.

More and more expats these days are giving up on downtown locations and heading for outlying areas that involve a commute, but at least allow the luxury of a spacious house and maybe a garden too. The two most popular such areas are An Phu in District 2 and Phu My Hung in District 7. Both these districts are around 30-40 minutes from downtown, and are characterised by smart villas with swimming pools and apartment in new high-rise blocks.

Both also have a high proportion of expats and although the areas are quite new, they both have international schools, medical clinics and a growing range of restaurants and bars, making it less necessary to head to District 1 to socialize.

Saigon costs
Visas for Saigon
Saigon expats

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