Many European and American investors massively underestimate Hanoi and Ho Chi Minh City property prices. Do you know that the average asking price of apartments in Hanoi is closed to USD 1,400 per square meter? For a modern house, prices go even higher and can reach up to $5,000 per square meter! Of course, these prices are still low compared to other major Asian cities like Hong Kong, Shanghai or Tokyo. However, Vietnamese salaries are still way lower than in these cities. In other words, Vietnamese property prices are not cheap.