Vietnam’s residential property market has attracted the interest of High-Net-Worth Individuals (HNWIs) and investors, fuelled by robust GDP growth, urbanisation, and its strategic position in the “China+1” strategy, according to a report by Knight Frank.

The Asia-Pacific Horizon Report Part 4: “Quality Life-ing: Mapping Prime Residential Hotspots,” published on 25th November, highlights Vietnam as a standout market in the region’s luxury real estate sector.

The report assesses 15 markets using five key indicators – Economy, Human Capital, Quality of Life, Environment, and Infrastructure & Mobility – to help investors and potential movers identify the best locations.

With a projected GDP growth of 6.1% in 2024, Vietnam ranks as the second-fastest-growing economy in the region, just behind India, signalling a strong outlook for its real estate market, Vietnam Plus reports.

The average selling price for luxury apartments in Ho Chi Minh City and Hanoi ranges from $5,400 to $15,000 per square metre, comparable to global markets while offering considerable room for growth.

The continued development of highways, metro systems, and airports is also improving connectivity and driving up property values in emerging urban areas.

The report highlights that Vietnam’s affordable, yet high-quality real estate is drawing expatriates and investors, especially in areas like District 1 and Thu Duc City in Ho Chi Minh City, known for their business hubs and peaceful riverside views.

Nguyen Truong Anh, Research Manager at Knight Frank Vietnam, noted that Vietnam’s rapid economic growth and strategic location make it an attractive destination for both investors and expatriates. With a blend of luxury and affordability, the market is set for sustained long-term growth.

Whereas Kevin Coppel, Managing Director of Knight Frank Asia-Pacific, observed that as global wealth shifts and geopolitical landscapes change, wealthy individuals are increasingly seeking prime residential hotspots that offer both lifestyle advantages and financial security. 

Markets such as Singapore, Japan, and Australia remain top choices for the world’s most discerning investors, the report goes on to add.