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How’s the Real Estate Market These Days?

Take a quick trip around town and you’ll be sure to notice a lot of buildings under construction.  Many of these projects are apartment buildings, continuously adding options to what previously felt like a low supply.

In 2018, Vientiane had nearly a 45% increase in the number of apartment units, and that trend doesn’t appear to be slowing down anytime soon. If you’re a renter, you now have a multitude of choices compared to a mere two years ago. Choosing a modern apartment in your preferred location – such as near your workplace or close to your children’s school – has become much easier. 

Newcomers are sometimes surprised at the higher prices for apartments in Vientiane when compared to cities in neighboring countries. The increase in supply is helping to bring these prices down. With the conveniences of housekeeping, Wi-Fi, and full furnishings, the greater affordability is causing many to consider moving out of houses and into apartments.

In case two bedrooms aren’t enough for your family, don’t worry! Recently completed housing projects and renovated houses are being added to the market, in addition to more three-bedroom apartments planning to open in the near future.

While apartments continue to become more plentiful, finding the ideal house in a specific location can be more challenging. However, more people living in apartments means more houses are available and at better prices, with most ranging from four hundred on the low end to four thousand dollars at the higher end. Prices are influenced by location, size of the property, and the condition of the house.

Once you know your budget and preferred location, you may still have plenty of options to choose from, allowing you to find properties that not only include your “must-haves,” but also your “nice-to-have” features. A knowledgeable real estate agent will be able to present the top selections to you, allowing you to find a place you’ll love to call home during your temporary or long-term stay in Vientiane.

Have another question or seeking advice? Send J&C Real Estate an email today at realestate@jclao.com