Real Estate Spotlight: Vietnam

Pictured: Nam Hai Villas, Hoi An

Real estate in Vietnam is on the brink of blowing up. Foreign investment dollars are starting to roll in, funding developments in major cities and resort towns. Demand for higher-end properties currently exceeds supply, which has caused prices to rise. But, real estate in Vietnam still remains a bargain, and it’s not too late to make your mark.

Earlier this month, Dubai-based real estate developer Limitless broke ground on its $220 million Halong Star development at Halong Bay (near Hanoi, Vietnam’s capital city). The project will include luxury residential units, a five star hotel, conference facilities, and other resort amenities when it’s completed in five years.

In Ho Chi Minh, the country’s largest city, plans are under way to construct a new urban town on the Thu Thiem Peninsula in District 2. The new town, to be built in the next 20 years at a cost of US $20 billion, will house a population of 110,000 to 120,000 people.

If you aren’t willing to wait to buy, and we aren’t suggesting that you do, there are still some pretty cool options to snag your own luxury property in Vietnam now. For $3.5 million in Hoi An, you can purchase 580 feet of beachfront on just under one acre adjacent to the first-class Palm Garden Resort. Or, for about $3.3 million you can purchase the 3,745 square foot villa in Hoi An’s Nam Hai resort, just named Asia’s “Best New Beach Resort” by the Travel Trade Gazette.

While $3 million isn’t exactly cheap, we’re betting that prices are only going up.

Sources: Indigore, Glo-con, AmeInfo, VietnamNet