Despite being in the shadow of Da Nang and Ho Chi Minh City, Vung Tau is the preferable weekend gateway for expats, locals, and travelers alike who reside in Southern Vietnam, especially Ho Chi Minh City.
With improved infrastructure and connectivity, you can reach this harmonious island within 2-3 hours. With a long shoreline, there are a number of condos and condotels that pop up here and there, attracting the attention of property buyers.
In this article, I explain the basics you need to know if you’re interested in buying a property in Vung Tau.
Can foreigners buy property in Vung Tau?
The same as it goes in other parts of Vietnam, you’re legally allowed to buy and own condo units in your own name. There’s no restriction on the number of units you can buy, but foreigners can own a maximum of 30% of the units in a condo building.
It’s important that you confirm with your agent or developer and assure that the quota hasn’t been filled.
Buying villas is also a popular option, where you can lease the land for a period of up to 50 years, even if the government has talked about increasing the term to 99 years. In general, the regulations for foreign ownership are going in the right direction.
If you buy a villa, 250 can be owned by foreigners in a given ward. This was not the case before 2015 when the Vietnamese relaxed the regulations to foreign ownership.
Why is Vung Tau interesting for property purchases?
Vung Tau is not a sleepy backwater, but actually a city with hundreds of cafés and restaurants, many decide to settle down here for a long time.
One of the greatest benefits is Vung Tau’s proximity to Ho Chi Minh City, making it a perfect weekend getaway for locals, expats, and travelers alike. In a way, it resembles Hua Hin in Thailand, which is also a coastal city with proximity to Bangkok.
Vung Tau has an impressive heritage and colonial culture and not only relies on tourism but is commercially active thanks to its gas and petroleum industry, attracting many expats.
Areas in Vung Tau
In case you’re not familiar with Vung Tau, there are 16 wards in total. The first twelve wards are simply numbered as 1, 2, 3, and so it goes on.
The remaining are Thắng Nhất, Thắng Nhì, Thắng Tam, Nguyễn An Ninh, Rạch Dừa. There’s also one commune, Long Sơn.
What kind of property is popular among investors in Vung Tau?
Being a coastal resort city, Vung Tau brings many similarities with Da Nang.
You’ll notice that so-called condotels (condo hotels) are popular among foreigners and locals, along with villas.
What is a condotel (condo hotel)?
As it speaks, condotels are sold by developers or individual owners to buyers who wish to rent out their condo units. The main difference between a condotel and a hotel is that the owner shares the rental incomes, and have the opportunity to stay in his or her unit for a couple of weeks every year.
Condotels are famously known for bringing in good rental incomes in coastal areas in Vietnam, sometimes stretching up to 8-12%. It’s important that you hire a credible agent that and to be cautious, to avoid deals that are too good to be the truth.
Property Prices in Vung Tau vs Ho Chi Minh
Property prices are around 25% cheaper on average in the city center, compared to the city center in Ho Chi Minh City.
This will probably change over the years as Ho Chi Minh City will follow a similar path as cities like Shanghai, becoming more urbanized and prices will increase in the central areas.
A 25% difference is not so big in my view and a proof that Vung Tau is popular among both locals and foreigners, especially retirees. I’ve included a better overview of the average price differences in Vung Tau and HCMC below:
The following prices derive from Numbeo’s website, as of the moment I’m writing this article.
- Apartment (1 bedroom) in City Center – VND 7,741,667 (around USD 336)
- Apartment (1 bedroom) Outside of Center – VND 5,000,000 (around USD 217)
- Apartment (3 bedrooms) in City Center – VND 20,925,000 (around USD 909)
- Apartment (3 bedrooms) Outside of Center – VND 9,958,333 (around USD 433)
- Price per Square Meter, City Center – VND 36,500,000 (around USD 1587)
Price per Square Meter, Outside of Center – VND 22,500,000 (around USD 978)
Ho Chi Minh City
The following prices derive from Numbeo’s website.
- Apartment (1 bedroom) in City Center – VND 12,064,016 (around USD 524)
- Apartment (1 bedroom) Outside of Center – VND 6,428,571 (around USD 279)
- Apartment (3 bedrooms) in City Center – VND 23,791,223 (around USD 1034)
- Apartment (3 bedrooms) Outside of Center – VND 14,103,506 (around USD 613)
- Price per Square Meter, City Center – VND 49,205,034 (USD 2139)
- Price per Square Meter, Outside of Center – VND 23,970,588 (around USD 1042)
Real Estate Agents in Vung Tau
Vung Tau is located with proximity to Ho Chi Minh City and you can be certain to find real estate agents in the latter one, offering services for Vung Tau property.
Asia Property HQ can help you to get in touch with reliable agents who sell properties in Vung Tau and surrounding areas.
Condotels and Condos in Vung Tau
As mentioned above, many foreigners decide to buy so-called condotels (condo hotels) in Vung Tau. Some of the most popular condotels include:
Premium Beach Condotel 2 and 3
Being one of the most popular condotel in Vung Tau, Premium Beach condotel is located just a minute walk from the beach. You’ll be able to enjoy a seaside view and amenities like pools and on-site restaurants.
The units are spacious and perfect for local or foreign travelers who wish to get some rest from the hustle and bustle. Premium beach condotel 2 and 3 are popular choices, as can be seen from the reviews on sites like booking.com.
The Grand Condotel
The Grand Condotel has similarities with Premium beach condotel and a preferred option when people visit Vung Tau. You’ll also find the amenities you need here.
The Grand Condotel is located only a two minutes walk from the beach and offers a spectacular view.
Other popular condotels
- Sea View Residence
Getting from Ho Chi Minh City to Vung Tau
Thanks to infrastructural developments, you can reach Vung Tau from Ho Chi Minh City in two different ways.
Greenlines and Petro Pacific speed boats depart from Ho Chi Minh City several times a day and won’t cost you around VND 300,000 (USD 13) per ticket (roughly twice the cost of a bus ticket, but well worth the price). This is one of the most popular options when foreigners go for a weekend trip to Vung Tau.
You’ll find buses that drive between Ho Chi Minh City several times a day. The buses are a bit cheaper compared to the speedboats and will set you back around VND 80,000 (USD 3.5).
Other options you have when going by road is to hire your own driver, that can pick you up conveniently at the airport if needed. Some people are a bit more adventurous and decide to rent scooters or motorbikes.
The distance by road is around 95 km and it will take you 2 – 2.5 hours to reach Vung Tau from Ho Chi Minh City.
Vung Tau is a preferred destination for locals, expats, and travelers alike in Vietnam. Located only 100 km away from Ho Chi Minh City, it’s been a weekend gateway since decades back and has a preserved colonial heritage, restaurants, and many bars.
Many people even decide to settle down here, using it as a base, while visiting Ho Chi Minh City when feeling appropriate.
Property prices are not as high compared to Ho Chi Minh City and you’ll be able to enjoy a great quality of life with a budget as low as USD 1000 a month. Something that’s rarely heard of in Western countries, like Australia.
You can reach Vung Tau either by road or boat, with departures several times a day. For a first-hand experience, I’d recommend you pay a visit to Vung Tau the next time you have your ways by Ho Chi Minh City.
Below I have included some commonly asked questions and our replies.
How can I find properties for sale in Vung Tau?
Both agents in Ho Chi Minh City and Vung Tau and the surrounding region can help you to acquire real estate in Vung Tau.
You won’t find as many international property agencies as in Hanoi and Ho Chi Minh, but mainly have to rely on local ones.
With that said, it can make sense trying to find a partner or agency in Ho Chi Minh that brings you to Vung Tau for a property screening.
How does a typical property buyer look like?
Vung Tau relies heavily on tourism and you’ll mostly find local property buyers that either reside in Vung Tau or commute from Ho Chi Minh.
It’s common that people work in Ho Chi Minh during the weekdays and go back to Vung Tau during the weekends. That said, some people also reside in Vung Tau full-time and work in Ho Chi Minh.