Nominal house prices up by 21.6% in HCMC, by 6.9% in Hanoi during the year to Q2 2019
In Ho Chi Minh City, apartment prices surged 21.6% in Q2 2019 from a year earlier, to an average of US$2,009 per sq. m, according to Jones Lang La Salle Vietnam. Likewise in Hanoi, the capital, the average price of apartments rose by 6.9% y-o-y to US$1,417 per sq. m. in Q2 2019.
Outlook for Vietnam’s property market remains bullish
The outlook for the Vietnamese housing market is positive due to continued strong economic growth, rapid urbanization growth, and the construction of several mega projects in major cities. In 2018, the Vietnamese economy grew by a robust 7.1%, from expansions of 6.8% in 2017 and 6.2% in 2016.
Rents, rental yields: yields data is unavailable
The average rent for apartments in HCMC was $1,214.
| Vietnam: typical city centre apartment buying price, monthly rent (120 sq. m) | |||
| Buying price | Rate per month | Yield | |
| Hanoi | n.a. | $1,315 | n.a. |
| Ho Chin Minh City | n.a. | $1,214 | n.a. |
Recent news: The Vietnamese economy grew by 6.71% y-o-y in Q2 2019, following annual expansions of 6.79% in Q1 2019 and 7.31% in Q4 2018, mainly driven by robust exports and foreign investment, according to the General Statistics Office (GSO). Vietnam is expected to continue its stellar growth in the coming years, with projected annual GDP growth rate of 6.5% both this year and in 2020, according to the IMF.