Saigon, located in Vietnam, once known as a city of great poverty after the Vietnam war, has increasingly become a place for U.S. tourists to visit more increasingly. Now in 2015, we have seen the growth of the housing market in Saigon reach an even greater level by becoming what we think will be a seller’s market in the very short term.
Why? Because we look at leading economic indicators when we predict real estate growth in markets across the world, including Vietnam, China, the U.S., and other well-known markets. One of those leading indicators is new franchises and large retail chains deciding to plant their roots and make significant investments, like Mc Donald’s recently did by opening up a store in Vietnam.
This is absolutely great news for home owners in Saigon, that own a house that are looking for a quick house sale, because if the Vietnam economy is booming, so will the influx of home buyers in the area. We saw this same phenomenon in San Antonio, TX many years ago when an economic boom occurred. You see, if a local economy soars, then companies will need to hire more employees, and guess what? Those employees will need a place to live, right? Well, that can only equate to an increase in home sales and a lack of inventory for Saigon/Vietnam residents.