Ho Chi Minh Japan Real Estate
The revival has led to the creation of many new condominiums throughout the city, which have transformed the historic buildings of Old Tokyo and other parts of Japan. Will you work with Ho Chi Minh Japan Real Estate and Vingroup to build a new condominium in the heart of downtown Tokyo?
In another urban development project, Mitsubishi Nomura Real Estate has partnered with Vin Homes to build a new residential complex in Ho Chi Minh City, Vietnam. The newly formed joint venture will develop a 1,000-unit housing development in Hanoi, the country's second largest city. It will pump $1 billion into Vietnam's real estate market over the next 10 years, initially focusing on residential, commercial, office and retail space.
In June last year, the group also formed a joint venture with CapitaLand rival Keppel Land in Ho Chi Minh City, Vietnam's second-largest city, and has been involved in construction projects in Hanoi and other parts of the country. It has also worked with Vin Homes to implement a number of residential projects in Ho Chi Minh City. In June last year, it also launched an investment fund to develop a 1,000-unit residential complex in the city's central business district.
Another notable deal was Nomura Real Estate of Japan, which announced the acquisition of the real estate holdings of Ho Chi Minh Real Estate Group in the Hanoi district of Ho Hoa Phuong. Meanwhile, it has acquired the real estate assets of the Vietnam-Japan joint venture Wah Dinh Hao Real Estate Group and is in the process of announcing plans to build a 1,000-unit residential complex in Vietnam's second-largest city.
The return on the purchase price of the rental property, after taxes, vacancy costs and other costs, is quite attractive. The property is located on the grounds of Bien Hoa Aqua City, which is not far from Ho Chi Minh National Park and is one of Vietnam's most popular tourist destinations. It is a property near Hanoi International Airport and a few kilometers from the city's main train station.
Ho Chi Minh City offers some of the highest rental yields in Asia, according to a recent study by Savills International, a global property research firm. They looked at the average rental yield on rental properties in the city of Hanoi and found it was 4.5 per cent, compared to just 1.2 per cent in Hong Kong. By comparison, Savill says the average price of a one-bedroom flat in Ho Chi Minh City is 3.7 cents per square metre.
Ho Chi Minh City continues to attract large numbers of investors, and as a result, Mizuki Park expects to be one of the country's most successful real estate investors in the coming years. Vietnam opened up to foreign property buyers in 2015, and foreigners were actually attracted. When the government first allowed foreigners to buy homes in 2015, the legal framework was revised to create more favourable conditions, "he says.
Sherwood Residence is one of the oldest serviced apartments in Saigon, located on the Golden River in Ho Chi Minh City, just minutes from the city center. Vinhomes on the Golden River are the best apartments to rent for less than $1,000 a month, or even less if you are in an upscale area such as Hanoi, Ho Hoa Kien or Hoi An.
Vinhomes in Central Park is one of the most popular residential complexes in Ho Chi Minh City, and Masteri Millennium is just a few blocks from the Golden River. Description Madison is surrounded by beautiful views of Ho Hoa Kien and Hoi An, as well as the city center of Hanoi.
Rental apartments in the area can cost between $250 a month and more than $10,000 a month, and swanky condos can cost up to $1 million a month or even more if they show up. But it often costs more to buy a one-bedroom apartment in Ho Chi Minh City, where most expats live, according to the Hanoi Real Estate Authority. A single-family home in one of the city's most popular neighborhoods, Ho Hoa Kien, Mansion Global says it can cost between $2 million and $3 million a year, much more expensive than in Japan.
Many landlords in Hanoi are renovating and expanding their properties with additional services to make their properties more attractive. One notable deal was Nomura Real Estate in Japan, which bought a 1,000-square-foot apartment in Ho Chi Minh City in the Ho Hoa Kien district for $1.5 million in January last year. Although relatively more affordable than in Lai Phuong, a relatively upscale neighborhood in the city, it is now overrun by more affordable rental housing in other parts of the country.