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Nha Trang: Vietnam’s premier home buying center

The real estate market in Vietnam is now developing by leaps and bounds, and speaking about housing in this country, the resort town of Nha Trang is most often meant – one of the most promising places for acquiring square meters in Southeast Asia.
The tremendous push in the real estate market of Vietnam was largely due to the fact that in 2015 this country opened the real estate market to foreigners. Now any foreigner can purchase Vietnamese real estate – both apartments and private houses, as well as rent them out, which was previously impossible. It is logical that the tourist center Nha Trang attracts the most attention in the country. The undoubted advantage of the city is its geographical position on the coast of the South China Sea in central Vietnam. The local relief is characterized by mountains that border the city on both sides, so home buyers on the first line of the sea will soon be able to become the owner of an exclusive property due to the limited coastal area, which will have a significantly higher price relative to today’s realities.

Buy real estate in Nha Trang

The main distinguishing feature of Nha Trang is the lack of seasonality. As a result, there are excellent conditions for acquiring real estate specifically for renting out. In addition, in Nha Trang at the moment there are still quite affordable prices, compared with the same coastal Danang in the neighborhood. According to the current legislation of Vietnam, foreigners have the right to purchase real estate only in certain projects, namely in Nha Trang there are a considerable number of such projects, especially if you want to buy housing at an affordable price. At the moment, apartments and condominiums are in special demand in the city (significantly exceeding the supply).

Russian Nha Trang
A great advantage for home buyers in Nha Trang may be the fact that this resort began to develop recently, so everyone who wants to not only rent out their property, but also move to permanent residence, as well as open their own business, it makes sense to do it right in the near future, as the resort has many unoccupied niches and very little competition. An additional bonus may be the simplicity of the procedure for opening a business for a foreigner. Currently, about 70% of Vietnamese and 30% of foreigners live in Nha Trang.

However, the city has a fairly well-established infrastructure for Russian speakers, which makes this city one of the best places in Vietnam for the purchase of housing by immigrants from the CIS countries. Today there are several exclusively Russian kindergartens working here, and a comprehensive school also operates on the basis of one. In addition, there are several good international kindergartens with a very serious program. A lot of Vietnamese people living in Nha Trang knowing the Russian language – most of them studied and worked in the USSR at one time, so strong problems with the language barrier will not arise here.

Buy real estate in Nha Trang

Customer portrait
Real estate in Nha Trang is ideal for many representatives of the CIS countries who plan to change their place of residence in search of a favorable climate. In Nha Trang throughout the year, there is a comfortable summer temperature, and as for the rainy season, it is in this region that it flows in the most mild form – primarily due to the location and topography.

Here you can often meet buyers who are looking for affordable real estate by the sea in Asia with growth potential. Investors who invest in local square meters are looking for simple and reliable projects with a guarantee of the preservation and increase of capital. Therefore, most often they choose projects with condominiums – most of them offer a guaranteed income of 6-12% per annum. At the same time, the bulk of tourists are very solvent guests from China and South Korea, and the most frequent buyers among foreigners are Chinese, Koreans, Thais and Russians. In most cases, the purpose of the purchase is an investment in rental housing.

Nha Trang Areas
If we consider the geography of Nha Trang from the point of view of the areas most in demand for buying and living, then there are practically no contrasts. In fact, everything is simple: in the tourist center, prices and demand for real estate are higher than in other parts of the city. But due to the fact that in Nha Trang, demand significantly exceeds supply at almost any point in the resort, now almost any district is considered suitable for investment. If we talk about an apartment for living, then real estate in the north of Nha Trang will be more suitable for those who prefer a quieter life, and for those who need constant activity, it makes sense to consider the center.

Buy real estate in Nha Trang

Prices
As of December 2019, a two-bedroom apartment with a good repair can be purchased for $ 50,000, which can then be rented out for $ 450-500 a month. Fluctuations in the cost of housing during the purchase depend on its area, view from the window, district, prestige of the project, etc.

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