Is it possible to buy an apartment for under 1 billion VND in Ho Chi Minh City?

Ho Chi Minh City boasts exceptional economic growth and the largest population in the country. Its real estate market, particularly the apartment segment, is highly vibrant, attracting a large number of customers and investors of all sizes. Due to increasingly limited supply, apartment prices are steadily rising. According to recent data from Cushman & Wakefield, apartment prices in Ho Chi Minh City have been continuously increasing. Prices updated at the end of 2022 were: Class A apartments: approximately 85 million VND/m2, Class B apartments: approximately 40 million VND/m2, and Class C apartments: approximately 27 million VND/m2.

Therefore, buying an apartment for under 1 billion VND in Ho Chi Minh City is a difficult task. However, if you are willing to search further away from the central districts and accept smaller apartments, buyers can still find an apartment that suits their budget.

Apartment projects in Ho Chi Minh City priced under 1 billion VND are mainly concentrated in districts such as Binh Chanh, Tan Binh, District 2, and District 9. For immigrants or young couples with a budget under 1 billion VND, you can immediately refer to the 5 projects below.

Diyas Sky

This apartment project is located at 16 Nguyen Duc Thuan Street, Ward 13, Tan Binh District. The selling price is approximately 26-33 million VND/m2.

The Diyas Sky apartment complex, introduced by developer CT Group, is presented as an affordable living solution for creative, dynamic young people, with prices starting from 800 million VND.

The project is located just a few hundred meters from Cong Hoa Street, a major thoroughfare in Tan Binh District. From the project's location, residents can quickly travel to Tan Son Nhat Airport Terminal 3, District 3, District 1, and other areas.

Located in the heart of Tan Binh district, the project benefits from all nearby external amenities such as: BigC supermarket, Tan Binh Labor Cultural Center, clinics, hospitals, Hoang Van Thu Park, Gia Dinh Park, Plaza, Pico, etc.

Furthermore, the project also boasts valuable internal amenities such as: a children's playground, a gym, an outdoor reception area, smart parking, a common room, a library, and a playroom...

Diasky Apartment

Apartments at Diyas Sky are currently being offered by the developer at prices starting from just 861 million VND per unit. However, Diyas Sky are mini-apartments with a 30-year ownership period, and the purchase condition is having temporary residency in Ho Chi Minh City. Additionally, the management fee is 8,000 VND/m2.

The Pegasuite 2

The apartment building is located on Ta Quang Buu Street, Ward 6, District 8, Ho Chi Minh City. The selling price is 38 million VND/m2. The Pegasuite II project, launched by the investor PVINVEST, aims to provide high-end apartments in a central location in District 8, featuring a youthful, modern, convenient style with a strong focus on green spaces.

The Pegasuite II Apartment Complex

The project is located on major roads such as Binh Tien Bridge, Ta Quang Buu Street, and Vo Van Kiet Boulevard, and is adjacent to District 5, District 1, and District 6. With this location, residents can easily travel to other areas of the city and access existing amenities such as AEON Mall District 8, Binh Tay Market, Cho Ray Hospital, Crescent Mall, Phu My Hung Urban Area, and schools of all levels.

Amenities within the complex include a gym, swimming pool, shopping center, spa, supermarket, coffee shop, golf course, children's park, daycare center, etc.

Apartments at Pegasuite II are being sold on the market at prices ranging from 35-42 million VND/m2. At this price point, buyers need less than 2 billion VND to own one. However, with a budget of around 1 billion VND, buyers can only choose officetel apartments ranging from 23-40m2, priced from 990 million VND.

Ehome S Phu Huu

The project is located on the frontage of the Long Thanh - Dau Giay Expressway, Phu Huu Ward, District 9. Although situated far from the city center, the project boasts comprehensive infrastructure and a perfect transportation network.

Ehome S Phu Huu Project

The project is priced from 24-36 million VND/m2. Ehome S Phu Huu, developed by Nam Long, is planned based on three criteria: economical and optimized design, and a civilized community targeting intellectuals and office workers. The project features internal amenities such as: a gym, wellness area, primary school, landscaped lake, swimming pool, commercial area, plaza, etc.

Currently, the Ehome S Phu Huu project is selling small 40m2 apartments with a 1-bedroom design, unfurnished, for 980 million VND. Alternatively, customers can pay an additional 120 million VND to own an apartment with furniture included.

Le Thanh Twin Towers

Located on Ma Lo Street, Binh Tri Dong A Ward, Binh Tan District, Ho Chi Minh City, the apartments in the project are priced from 20-23 million VND/m2. Le Thanh Twin Towers is built to meet the needs of middle-income earners. The project focuses on modern design, ensuring ample natural light and ventilation to provide residents with a relaxing living environment.

Le Thanh Twin Towers apartment complex.

Le Thanh Twin Towers is conveniently located on Huong Lo 2 road, 3.5km from Dam Sen amusement park, near a bustling residential area. The project also boasts comprehensive amenities to meet basic needs such as restaurants, supermarkets, swimming pools, shopping centers, tennis courts, etc.

Currently, the reference price for apartments in Le Thanh ranges from 680 million to 1.4 billion VND. Buyers have many choices in terms of size: 38m2 apartments priced at 770 million VND, 32m2 apartments priced at 680 million VND, and 40m2 apartments priced at 800 million VND. However, the project is under a 49-year lease contract, meaning buyers do not have ownership rights but only stable residency for 49 years.

Vinh Loc Apartment Complex Project

The project is located at 68 Huong Lo 80 Street, Vinh Loc A Commune, Binh Chanh District, Ho Chi Minh City. The selling price ranges from 20-21 million VND/m2.

The project is located in Vinh Loc A commune, Binh Chanh district, an area experiencing rapid development of shopping malls, industrial zones, supermarkets, and is approximately 7km from Tan Son Nhat airport. In addition, the project is adjacent to major roads such as Phan Van Hon, Truong Chinh, Cong Hoa, and Le Trong Tan...

Vinh Loc Apartment Building

Despite being a low-priced project, Vinh Loc apartments are still equipped with a full range of modern internal amenities including: a landscaped lake, primary school, supermarket, shops, security system, shopping center, etc.

In terms of price, the Vinh Loc apartment complex offers quite reasonable prices to the market, ranging from 750 - 800 million VND for a 1-bedroom 38m2 apartment, and 850 - 950 million VND for a 2-bedroom 49m2 apartment...

Things to note when buying an apartment in Ho Chi Minh City for under 1 billion VND.

Affordable apartments in Ho Chi Minh City always attract a lot of attention from homebuyers, especially those with low to medium incomes. However, buyers also need to consider other factors to ensure a good quality of life.

Financial capability

Whether buying an affordable or mid-range apartment, your financial capacity remains a crucial factor. Buyers need to clearly determine their income level, available funds, and daily living expenses to balance their finances. This will help avoid breaches of contract terms, such as late payment issues.

Buyers need to determine if they have enough money available to cover the cost of the house and whether they can borrow more from family and friends. If they cannot borrow, they should consider taking out a bank loan. Note that some banks support buyers in borrowing up to 70-90% of the value; however, according to financial experts, it is advisable not to borrow more than 50% to avoid debt burdens that could affect quality of life.

Thoroughly investigate the apartment's legal status.

Affordable apartments here are typically those priced under 1 billion VND, a relatively low price compared to mid-range and high-end apartments. However, when buying a home, it's still necessary to carefully investigate the legal aspects. In reality, there are various types of affordable apartments being offered for sale, including low-cost apartment projects, social housing, and apartments with 50-year ownership rights.

Carefully consider the project location.

When considering buying any apartment project, it's essential to assess the distance from the project to surrounding areas, the convenience of transportation, and the distance to city centers. Additionally, attention should be paid to available internal and external amenities, the orientation of the apartment, whether it aligns with feng shui principles, the interior design of the apartment, and the quality of the parking garage.

Linh Chi (compiled)

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Source: https://vtc.vn/co-the-mua-chung-cu-duoi-1-ty-dong-o-tp-hcm-khong-ar800804.html