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HồChí Minh City: A Desirable Market and Location for Real Estate

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For some time now, the property market in Vietnam, especially in HồChí Minh, has been heating up, thanks to the country’s continued economic growth and the fact that the nation boasts an ever-increasing contingent of middle-class citizens. After an approximate five-year housing slump and the passing of a new housing law, which went into effect on July 1,2015, both overseas Vietnamese and foreign investors are able to transfer, sell, or own real estate properties in attractive cities such as HồChí Minh.

 

An Introduction to HồChí Minh City

HồChí Minh City, once known as Saigon, is the biggest city in the country of Vietnam. Back in the 17th century, the city was called Prey Nokor and was an important seaport. When the city was called Saigon, it was the capital of Cochinchina, a French colony, and later the capital of the republic of South Vietnam. The city has been called HồChí Minh since 1976.

 

The metro area of HồChí Minh City, also abbreviated to HCMC, is home to more than nine million residents, making the city the most populated of all Vietnamese locales. The real estate market in HCMC continues to thrive, as the city’s population is expected to burgeon to almost 14 million people in 2025. If you are looking for a condo for sale in HồChí Minh City, then you will no doubt like some of the luxurious condos that are currently on the market.

 

A New Day and Time

Many expatriates live in the metro area, adding to the continually prospering real estate market. The newly enacted law for housing in HồChí Minh and the rest of Vietnam makes the city an attractive and desirable place to live. The new law lifts many of the restrictions that were formerly in place that made it hard to invest in real estate.

 

So, if you are interested in a rental or investment property, you will want to review the market in HCMC. To get a good overview of the real estate for sale, it is first helpful to review some of the major attractions or architectural structures that are prominent in the city.

 

An Interesting Contrast

HCMC is an amazing combination of heritage sites that feature colonial-era villas and contemporary-looking glass and steel buildings and monuments. The architecture that is featured is often a product of the time when the city was the capital of French Indochina.

 

Expatriates who live in HCMC often send postcards from the city’s Central Post Office. Completed in 1891 by Gustave Eiffel, who also built the Eiffel Tower, the building is famous for its architectural design and beautiful artwork.

 

People who visit or live in HCMC cannot help but appreciate the significance of the Reunification Palace, a historical landmark with a notable distinction. In 1975, the main gate of the building was broken on the day the war ended with the U.S.

 

People who live in HCMC also can enjoy such sites as the Bitexco Financial Tower. Formed into the shape of a lotus bud, the high-rise, 68 stories tall building is the tallest structure in the country. The prominent building, one might say, stands for the escalating real estate market of HCMC.



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