Ho Chi Minh is one of the fastest-growing cities in the world, something that can be reflected in its most central district, District 1.
Being the home to most of the city’s colonial and heritage buildings, the district has the most commercial activity and goes through a rapid transformation.
In this article, we review what makes District 1 unique and what makes it interesting for property investments.
Property Developments in District 1
Let’ start and review some of the city’s most notable developments that are finalized, under construction, or planned for the future.
Alpha Hill is one of the most bespoke projects in Ho Chi Minh and a luxury real estate complex developed by Alpha King. The project comprises of 1,076 units with prices ranging up to USD 10,000 per square meter.
Alpha King is based in Hong Kong and has several notable projects under its belt, including Peninsula Hotel (Shanghai), Disney Land (Shanghai), Lan Kwai Fong (Hongkong), and Xintiandi (Shanghai).
The project is located right in the heart of Ho Chi Minh:
- 2 minutes walk to Saigon Nightlife
- 5 minutes walk to Metro Station
- 5 minutes to Ben Thanh Market
Address: Cong Quynh Intersection – Nguyen Cu Trinh Street, District 1, Ho Chi Minh City
Vinhomes Golden River
Vinhomes Golden River is developed by the reputable Vietnamese company Vingroup. The project has 5 tall buildings with a modern-style architecture in glass, built on the Ba Son grounds and just next to the Saigon River.
You can see Thu Thiem just across the river, an upcoming financial district that resembles Pudong in Shanghai in the 90’s. The project will have plenty of facilities and comprehensive infrastructure.
Property prices are lower here and up to around USD 5,000 per square meter, which is still high by Southeast Asian standards.
Address: No 2 Ton Duc Thang Street, Ben Nghe Ward, District 1, Ho Chi Minh City
The Marq is another bespoke project that will be one of Ho Chi Minh’s prime residential developments. Being built by Hongkong Land and Hoa Lam Corporation build, The Marq will have 515 units in 26 floors.
The prices are comparably high and around USD 8,000 per square meter. Having said that, you’ll get access to great facilities, amenities, and be right in the heart of Ho Chi Minh.
Address: 29B Nguyễn Đình Chiểu, P, District 1, Ho Chi Minh City
Real Estate Agents in District 1
Below, I’ve listed some of the most reputable real estate agents in Ho Chi Minh City. If you fill in the form at the bottom of the article, we can also help you get in touch with a real estate agent that we recommend.
Colliers International Vietnam
Colliers is one of the biggest real estate companies in the world, having 15,000 professionals working all over the globe. The company offers a wide range of real estate services, not only to companies but to foreign individuals.
Over the years, they’ve won many awards and manage many renowned projects in Ho Chi Minh, including:
- HMTC Tower, Ho Chi Minh City
- Saigon Pearl Apartments, Binh Thanh
- Somerset Chancellor Court, Ho Chi Minh City
Address: 33 Lê Duẩn, Bến Nghé, District 1, Ho Chi Minh City
JLL is another major real estate company that has 80,000 professionals working in 300 offices worldwide. They primarily focus on the market in Ho Chi Minh and opened their first office here in 2006.
In addition to helping individual residential real estate buyers, JLL helps with everything from valuations, property management, tenant representation, and more.
Address: 26/F Saigon Trade Center, 37 Ton Duc Thang Street, Ho Chi Minh City, Vietnam
CBRE is the biggest commercial real estate company in the world and headquartered in the US. With 80,000 professionals working in 400 cities around the world, they’ve become a leader in the real estate industry.
CBRE opened their office in Ho Chi Minh in 2003 and have one office in Da Nang and one in Hanoi.
Address: 12th Floor, Me Linh Point Tower, 2 Ngo Duc Ke St, District 1, Ho Chi Minh City
District 1 will benefit significantly from the ongoing infrastructure developments in Ho Chi Minh, where the new Metro plays a vital role.
The city becomes increasingly crowded as people urbanize and the population grows. At the same time, the amount of cars and scooters increase rapidly, which add to the shortage of space.
The Metro line 1 will connect the central parts of District 1 and stretch from the iconic Ben Thanh market to Suoi Tien Park in District 9. It will have a major impact on the city’s transportation network and connectivity.
We also see new bridges being built, for example, Thu Thiem 2 Bridge that will connect District 1 with District 2.
Something that caught many people’s attention is the construction of underground spaces. Such spaces will be built connecting Ben Thanh Station with the Saigon Opera House Station (Metro line 1) and have underground pedestrian walkways in District 1.
Land and commercial property prices have skyrocketed in District 1 in the past years, especially since the government introduced new favorable foreign property ownership regulations in 2015.
Dong Khoi Street and Nguyen Hue Boulevard are the two main commercial centers in Ho Chi Minh as a whole, having some of the highest property prices nationwide.
As local and foreign developers fight head-to-head trying to grasp land plots in District 1, we see an increased demand for property in District 2 and District 9. Most of the office supply will be dedicated to these districts until 2025, as the city expands to the East.