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Real Estate in Phú Quoc Island, Vietnam | Digital Nomad Exchange
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Real Estate in Phú Quoc Island, Vietnam

By Joshua Wood, LPC

Last updated on Apr 10, 2024

Summary: Expats and retirees talk about real estate in Phú Quoc Island, Vietnam? How do you find a home in Phú Quoc Island? Should you buy or rent? What is the cost of housing?

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How do I find a place to live in Phú Quoc Island?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Phú Quoc Island involves several steps. First, you need to decide on the type of accommodation you want. This could range from a hotel or resort for short-term stays, to a rental apartment or house for longer stays. Next, you should research the different areas of Phú Quoc to decide where you want to live. The island is divided into several districts, each with its own unique characteristics. For example, Duong Dong is the largest town and a bustling commercial center, while An Thoi is quieter and more rural. Once you've decided on a location, you can start searching for available accommodations. There are several online platforms that list rentals in Phú Quoc, such as Booking.com, Airbnb, and Agoda. These sites allow you to filter by location, price, and type of accommodation, and view photos and reviews of each property. In addition to online listings, you can also find accommodations through local real estate agents. They can provide valuable insight into the local market and help you negotiate a fair price. Before making a decision, it's important to visit the property in person. This will allow you to check the condition of the property, the amenities, and the surrounding area. Finally, once you've found a place you like, you'll need to sign a lease or rental agreement. Be sure to read the contract carefully and understand all the terms and conditions before signing. Remember, finding a place to live in Phú Quoc may take some time and patience, but with careful research and planning, you can find a place that suits your needs and budget," remarked one member in Phú Quoc Island.

What is a typical expat home or apartment like in Phú Quoc Island?

"A typical expat home or apartment in Phú Quoc Island, is often located near the beach, offering stunning sea views. These homes are usually modern and spacious, with open-plan living areas, fully equipped kitchens, and multiple bedrooms. They often come furnished, with contemporary furniture and decor, and may include amenities such as air conditioning, Wi-Fi, and cable TV. Some homes may also feature private balconies or terraces, perfect for enjoying the tropical climate. Many expat homes in Phú Quoc are part of larger residential complexes or resorts, providing access to shared facilities like swimming pools, gyms, restaurants, and bars. These communities often have security services, providing a safe and secure living environment. Despite being on an island, these homes are usually not far from local amenities. Supermarkets, shops, restaurants, and healthcare facilities are often within easy reach. Some homes may also be close to international schools, making them ideal for expat families. The architecture and design of these homes often blend modern and traditional Vietnamese elements. They may feature large windows and doors to let in natural light and allow for ventilation, high ceilings, and tiled or hardwood floors. Some homes may also have gardens, providing a green space for relaxation or outdoor activities. In terms of location, many expats choose to live in the island's main town, Duong Dong, or in the southern part of the island, which is known for its luxury resorts and quieter atmosphere. However, there are also expat homes available in more rural or secluded parts of the island, offering a peaceful and tranquil living environment," explained one expat living in Phú Quoc Island, Vietnam.

What is the average cost of housing in Phú Quoc Island?

If you are thinking about moving to Phú Quoc Island, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Phú Quoc Island can vary greatly depending on the location and type of property. For a standard apartment in the city center, the cost can be relatively moderate. However, for a larger house or a property with sea views, the price can be significantly higher. Luxury villines and beachfront properties are the most expensive. It's also worth noting that the cost of living in Phú Quoc is generally lower than in larger Vietnamese cities like Ho Chi Minh City or Hanoi," said one expat who made the move to Phú Quoc Island.

Should I buy or rent a home in Phú Quoc Island?

If you have not spent a lot of time in Phú Quoc Island, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Phú Quoc Island, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Phú Quoc for a long period, buying a home could be a good investment. The island is a popular tourist destination, and property values may increase over time. Owning a home also gives you stability and the freedom to make changes to your property as you see fit. On the other hand, renting a home can be a more flexible and less financially burdensome option, especially if your stay in Phú Quoc is temporary. Renting allows you to move easily if your circumstances change, and you won't have to worry about property maintenance or fluctuating property values. It's also worth considering the legal aspects of buying property in Vietnam as a foreigner. While it's possible for foreigners to buy property in Vietnam, there are certain restrictions and conditions that you need to meet. In conclusion, both buying and renting a home in Phú Quoc Island have their pros and cons. It's important to carefully consider your personal situation and seek professional advice before making a decision," remarked one foreigner who made the move to Phú Quoc Island.

About the Author

Joshua Wood Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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