GM_EN_PC_ARTICLE_LEFT_FLOATING
GM_EN_PC_ARTICLE_RIGHT_FLOATING
GM_EN_PC_ARTICLE_TOP_BANNER

Saigon cost of living compares favorably to prominent SEA cities

Housing and food cost less in Ho Chi Minh City than Bangkok, Kuala Lumpur and Singapore, says a major real estate consultancy firm.

GM_EN_PC_ARTICLE_OUSTREAM_VIDEO

saigon cost of living compares favorably to prominent sea cities hinh 0
Ho Chi Minh City skyline and the Saigon River at sunset. Photo by Shutterstock/Efired

According to the Global Living 2019 report prepared by CBRE, the average price of a house in HCMC is around $103,000, ranking 34th among 35 cities surveyed in the report, just above Istanbul in Turkey.

The prices in Singapore, Kuala Lumpur and Bangkok were ranked 2nd, 32nd and 33rd, respectively. A house in Singapore costs $874,000 on average.

House prices in HCMC in 2018 rose 2 percent year-on-year, while that of Kuala Lumpur and Bangkok saw a 4 percent increase.

Average price of a prime residential property in HCMC, estimated at $403,000, was lower than $415,000 in Kuala Lumpur and $456,000 in Bangkok, the report said. The corresponding price in Singapore was almost triple that of Vietnam at over $1.2 million.

The report said apartments were becoming a popular housing choice for HCMC residents.

GM_EN_PC_ARTICLE_Native_ads

"Rapid population and employment growth is creating high demand for new housing. This is partly being met by the condominium market, which has emerged as a hugely successful concept in recent years," the report said.

It also referred to HCMC as a ‘Silicon Valley of Asia".

GM_EN_PC_ARTICLE_Inpage_Banner

"More than 24 incubators and 12 start-up spaces have been created, encouraging more than 800 new ventures to begin operating and attracting overseas technology companies to invest," it said.

The CBRE report said that a mid-range meal for two people in HCMC costs $17, compared to $26 in Bangkok. HCMC had the lowest food costs among all the cities listed in the report.

Vnexpress
GM_EN_PC_ARTICLE_Article_1
GM_EN_PC_ARTICLE_Article_2
GM_EN_PC_ARTICLE_Middle_1
GM_EN_PC_ARTICLE_Middle_2
GM_EN_PC_ARTICLE_BOTTOM
GM_EN_PC_ARTICLE_POPUP