Hai Phong's real estate market has been developing rapidly in recent years. Expats from around the world have settled in Hai Phong, in the northeast of Vietnam. This city has been attracting thousands of foreigners wishing to invest in property as well as an array of related projects. Through the sprouting of modern houses, apartments, and villas, the real estate market has contributed greatly towards the economic growth of this city.
Features of Hai Phong
With a population of just over 1,3 million inhabitants, Hai Phong is one of the largest cities in Vietnam. Being home to the main port in northern Vietnam, the city is also known as the country's second industrial centre and in 2020, Hai Phong also ranked 2nd in regards to its GRDP growth…
Many urban sites are being built all across Hai Phong, giving the real estate market a new momentum. Modern and luxurious homes are attracting more and more people from around the world. Other new buildings include shopping malls and various types of entertainment establishments, further making Hai Phong an attractive destination for all.
Why should I live in Hai Phong?
Hai Phong has an attractive and unique look about it: imagine streets adorned with crimson flame flower trees, architecture with a colonial look, as well as a variety of cultural activities available that will keep the enthusiasts busy! Attractions include the Du Hang Pagoda, Cat Ba national park, Pelican Cave, hopping onto a bike tour, catching some sunshine at Do Son beach, as well as visiting a local village.
If you live in Hai Phong you won't find a shortage of exciting events to attend. The city is well known for the festivals it hosts, including events that celebrate temples, buffalo fighting, boat racing, and firecrackers! A particularly noteworthy festival is the 'Du Hang' communal house festival which celebrates the establishment of relationships between local communes. Activities include a worshipping ceremony, followed by wrestling, cockfighting, and Chinese chess.
Good to know:
There is less of nightlife in Hai Phong compared to the other major cities in Vietnam.
Hai Phong is also a good starting base to travel to other nearby areas, such as Cat Ba island and Ha Long Bay, where tourist boat trips are particularly popular. These are a short bus ride or drive away from the city, and are great for day or weekend trips.
Renting property in Hai Phong
Hai Phong is more modern than Hanoi, but a bit more traditional than Ho Chi Minh City, and this is reflected in the accommodation choices available to you.
Rental prices in Hai Phong vary depending on the number of rooms' available, neighborhood and level of comfort offered. In the past, it was far more difficult for foreign individuals to invest in real estate. However, in 2015, the Law on Residential Housing (LRH) was passed, equipping foreigners with easier access to property in Vietnam.
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