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It Is Difficult To Buy A House In Saigon

It is difficult to buy a house in Saigon

Every year, thousands of people flock to Saigon to work and push the demand for housing up. Unfortunately,  buying a home in Saigon is not simple.

While in many other countries, the population favors rental housing, Vietnam, the psychology of the population, is “prosperous”, so supply and demand for housing are never lacking, especially in big cities like Saigon. However, there are still too many unmarried people, and buying a house in Saigon is becoming more difficult than ever.

~**~See more information about the real estate law here: Vietnam real estate law

Housing prices in Vietnam are too high

It can be said that the need to buy houses in Saigon mainly comes from immigrants – people from the province to the city to seek employment. With the increase in immigration rates up to 37%, the demand for housing in the city called Uncle is growing rapidly.

It is difficult to buy a house in Saigon
Housing prices in Vietnam are too high compared to the average income of the people

However, housing prices in Vietnam are too high compared to many other countries in the region and the world. In South Korea, the price of a mid-sized house is only five to six times higher than that of people, while in our country, this figure is 20-25 times higher than that of people with a lower income. medium. Since the preferential loan policy of VND30,000 billion has been closed since the end of 2016, the Government has not yet issued any preferential policies for people who have a need to buy a house. Therefore, to invest in buying houses in Saigon, laborers have to work very hard, sometimes contributed to life is not enough money.

The supply of Saigon apartments is in the middle and high-end segment

The need to buy cheap Saigon home is always high, this owner is the one who knows better than anyone else, but the supply of affordable housing is always the shortage, if not to say it is scarce. Meanwhile, the segment of middle and high-end apartments almost exploded supply, where only a 2 km stretch of thousands of apartments were built, typically Nguyen Huu Canh and Nguyen Huu Tho in Ho Chi Minh City.

It is difficult to buy a house in Saigon
Saigon is flooded with high-end projects

~~>>Update on new information on the real estate market in Vietnam here: Vietnam real estate market

The demand for Saigon home buyers is increasing

Besides the main reason comes from the limited supply and the high selling price, the request from the buyer is also a major cause leading to the purchase of Sai Gon house increasingly difficult. With the concept of “a customer is a god” plus the explosion of supply as today, customers buy more and more, sometimes require the “sky” requirements that the price of the apartment is difficult satisfactory.

Property disputes often cause buyers to lose confidence

It is difficult to buy a house in Saigon
Apartment disputes happen as the rice causes buyers to be confused

In addition to the demand for quality products increasingly demanding, the dispute between residents and investors occur as often as rice meal makes the homebuyer bewildered when deciding to put pen to sign contracts. According to statistics, in Saigon, 10% of the projects are subject to dispute, which is mainly related to the quality of works.

In general, buyers of Saigon homes and the supply of houses and land are never lacking, but for various reasons, the ratio of people who want to buy-not-buy-is still 70%. Hopefully, this rate will be improved in a more positive way.

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It Is Difficult To Buy A House In Saigon
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