{"id":2826,"date":"2019-04-23T05:36:06","date_gmt":"2019-04-23T05:36:06","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=2826"},"modified":"2021-06-04T14:20:57","modified_gmt":"2021-06-04T07:20:57","slug":"ho-chi-minh-city-bangkok-among-worlds-cheapest-residential-cities","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/ho-chi-minh-city-bangkok-among-worlds-cheapest-residential-cities\/","title":{"rendered":"Ho Chi Minh City, Bangkok among world&#8217;s cheapest residential cities"},"content":{"rendered":"<p>These Southeast Asian metropolises boast relatively affordable luxury homes on average<\/p>\n<figure id=\"attachment_2827\" aria-describedby=\"caption-attachment-2827\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-2827\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/04\/shutterstock_678485314-compressor.jpg\" alt=\"\" width=\"1000\" height=\"670\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/04\/shutterstock_678485314-compressor.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/04\/shutterstock_678485314-compressor-300x201.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/04\/shutterstock_678485314-compressor-768x515.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-2827\" class=\"wp-caption-text\">Skyline above Saigon River in Ho Chi Minh City. NGUYEN THI KIM THANH\/Shutterstock<\/figcaption><\/figure>\n<p>Ho Chi Minh City and Bangkok landed last on CBRE\u2019s latest annual Global Living Report ranking the most expensive property markets in key cities around the world.<\/p>\n<p>The fifth edition of the report saw the Vietnamese metropolis and Thai capital placing 34th and 33rd, respectively, among 35 key global cities.<\/p>\n<p>Bangkok offers an average residential property price of just THB3.4 million (USD106,383), followed by Ho Chi Min City with a residential price of USD103,057 on average.<\/p>\n<p>Istanbul was the world\u2019s most affordable with USD97,396 in average home price.<\/p>\n<p>\u201cHouse prices increased year-on-year across 30 out of the 35 cities we looked at, although generally at lower rates than previously,\u201d said Jennet Siebrits, head of residential research at CBRE UK.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/where-to-live-in-a-future-vietnamese-casino-resort\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Where to live in a future Vietnamese casino resort<\/strong><\/a><\/p>\n<p>\u201cIn general, CBRE is seeing house price growth slow across our cities as we move towards the end of a long property cycle. We would expect increasing interest rates to be affecting cities in the US, and various cooling measures affecting the Asia Pacific region, although Shanghai still saw robust growth,\u201d she added.<\/p>\n<p>Condominiums are meeting high demand for housing brought by rapid population and employment growth in Ho Chi Minh City. New units sell very quickly: in the second quarter of 2018 the absorption rate of freshly launched units was 80 percent, CBRE noted.<\/p>\n<p>Yet the average prime residential price in the city also known as Saigon stood at just USD403,270.<\/p>\n<p>An \u201cemerging technology-driven powerhouse\u201d, Bangkok is subsisting on strong demand for condos from international buyers, especially the Chinese. Over 50,000 condominium units were completed in 2017, compared to a total supply of 645,000 units. The average prime home price in the city stood at USD455,927.<\/p>\n<p>\u201cThe world\u2019s greatest cities continue to transform to encourage innovation, increase their working and living populations and create new commercial opportunities for businesses,\u201d commented Siebrits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>These Southeast Asian metropolises boast relatively affordable luxury homes on average<\/p>\n","protected":false},"author":8,"featured_media":20010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[134,132,133,135],"class_list":["post-2826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bangkok","tag-hcmc","tag-thailand","tag-vietnam","news_country-asia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO 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