Overseas investment in Vietnam is on the rise, attracted by newly opened markets and a growing economy.  Property values are expected to be the latest beneficiary, with foreigners now able to buy legally.  One expert, however, is urging patience and caution to new entrants in this emerging market.

Ngo Dinh Han is a lecturer at Ho Chi Minh City’s University of Economics.  He expects foreigners to reap the benefits of legislation introduced on July 1^st, allowing them for the first time to own property in Vietnam.  He reminds would-be buyers to be aware of these 7 common errors when taking their first steps on Vietnam’s property ladder.

Riverside Vinhomes Central Park Project of Vingroup developer

1. Don’t follow the crowd

The projects with the most hype are not necessarily the best investments.  Some unscrupulous agents have ploys to simulate high interest and attract those looking for quick wins.  Don’t be fooled by promises of quick profits – do your homework. 

“Look beyond headline figures to the developer’s track record in timely delivery.  Check and double check the payment schedule and conditions.  Don’t sign anything you don’t understand – get an agent or legal expert to translate every document if you don’t speak Vietnamese.  Some, like Vinhomes Central Park, offer everything in English, which is great – but check, and check again before making any commitment.”

2. Avoid early-stage peaks

The last round of ‘early bird’ offers before completion are designed to prompt impulse buys – but are often the least profitable in the short-term.

“This is the highest price before general release, and, with over-capacity issues prevalent at the minute, is something to avoid.  You may well see a return in the long-run, but its unlikely prices in the first 12 months will match those final totals offered in the last cycle of development.”

Luxury Gateway Thao Dien Apartment in District 2

3. Look at value before prices

This advice is applicable in every market, but is perhaps more relevant here.  Some prices reflect the low appeal of a neighborhood or confidence in a developer, while other higher prices reflect surrounding development such as the new metro system.

“Always remember why you’re buying somewhere.  Profit is likely in a growing market – the only question is how long you want to wait.  Are you buying to live, or buying to let?  Are you looking at long-term growth or a short-term flip?  Make judgments based on your value strategy.”

4. Limit your leverage

With some uncertainty over the viability of long-term profits, be sure to bank on a conservative return rather than the maximum, and plan your borrowing around that to limit your exposure to market changes.

“There’s been a great deal of fluctuation in local interest rates, and these could eat up your profits if you’re not careful.  Look at properties where large-scale lending isn’t necessary.”

5. Wait and see

Unit prices are much lower than neighboring metropolises like Bangkok and Kuala Lumpur currently.  But the effect of the recent property laws have yet to be felt, and Ngo Dinh Han believes it may be a little while before a true picture of market values emerges.

“Getting in on a good development early is always preferable – but don’t go too soon.  Property speculation can feel like a gamble, so look at the whole board.  Observe the progress of promised infrastructure developments, population changes in your chosen area, and any new amenities opening up.  Transport, city-wide migration and services are the trinity of any property investment decision.  Take your time.”

6. Don’t bank on a quick flip

For all these reasons and more, speculators banking on fast turnaround at profit are likely to be disappointed.

“Emerging markets do offer enormous potential – but equally, enormous risks.  Patient, sensible investors with research in-hand who are not over-leveraged are likely to succeed.  Speculators looking for a fast profit are not, however.  Don’t go beyond your financial limits, and don’t gamble what you can’t afford to lose on the promise of a quick win.”

The Sun Avenue from Novaland – middle-income apartment in District 2

7. Vary your investments

Buyers on a larger scale should follow the ‘Buffet model’ in all areas, but in an emerging property market especially.

“Don’t risk it all in one sector or one area.  Diversify your interests across districts, cities, and property types.  The luxury end is most profitable right now – but will that remain the case in the long-term?  Hedge your bets, and look at middle-income apartments, houses, tourist villas and commercial property to keep you in the game until the end.”

—

We offer regular updates on the Vietnamese property market, specializing in helping foreigners and Viet Kieu buy property in Ho Chi Minh City and beyond.  We offer regular market updates on these pages, so stay tuned for the latest news.  Get in touch with any questions about how you can invest in Vietnamese property, or with any issues you’d like to see covered in these pages.

VietApartment NEWS

In the early years following Doi Moi reforms, Vietnam hoped for much needed investment from across the globe.  It was its near neighbors, however, who were the first to show financial faith in the slowly-opening country.

Foreign involvement in property began in the 90s, with investors from Singapore, Hong Kong and Japan leading the way.  Such pioneers were instrumental in modernizing Vietnam’s property infrastructure.  Hotels, offices and residential units were conceived and constructed throughout the country through these early collaborations, giving the country its first modern property boom.

As the decade ended and the millennium dawned, it all changed.  Regional powerhouses were pulled back to matters at home, with stagnating economies limiting capital for overseas investment.

Internal Services in Gateway Thao Dien Apartment

Law changes

Western companies filled the void they left behind, and regional giants were thought reticent to return to Vietnam.  Until now.

Since changes to the property market laws were announced in 2014, Asian investors are back. The changes – allowing overseas ownership of property for the first time – came into force on July 1^st 2015, and have clearly proved tempting to investors of yore.

This month (9/2015) will see one such stalwart return.  HongKong Land were responsible for 2 Hanoi developments in the 90s – 63 Ly Thai To (in 1998) and Central Building (in 1995).  They are expected to announce a new luxury development in the east of Ho Chi Minh City, in conjunction with Hammond and SonKimLand – themselves responsible for HCMC’s Gateway project in Thao Dien.

Jen Capital is another Hong Kong returnee.  Jen, a member of the city-state’s Chiaphua Group, are set to top $50m in its most recent investment cycles, having already been instrumental in modernizing HCMCs District 2, including Thao Dien.  This area has proved particularly popular for foreign investors – as it has with foreign residents in the city – but is far from the only beneficiary of new pan-Asian investment.

Rising demand in luxury segment

Japanese investors are also back with big ideas, for HCMC especially.  One such company, Creed Group manages equity of $5bn. A year ago, Creed partnered with a local group (Nam Bay Bay) in signing contracts to add more affordable units to the market in the shape of District 8’s City Gate Tower. 

It has its eyes on the higher end, however.  Creed has committed $200m to An Gia Investment, a major player in Vietnam’s luxury housing sector.  The investment will see Creed become equal partners with An Gia in its property portfolio, with additional loans and cash in the pipeline to expand its interests still further.  This group accounts for around $1bn total investment value in HCMC, with deals for land in districts 2, 4, 7 and Tan Binh considered imminent.

Luxury villas in Vinhomes Central Park Project

It may be only the beginning.  Mr. Toshihiko Muneyoshi – chairman of Greed Group – suggests the $200m investment is simply a seed, from which he expects great growth.  “The key appeal of this market is the youth of the population.  The average age here is much lower, while the middle class is expanding rapidly.  Currently, there are too few luxury units to cater for this expected growth, so the potential is huge.”

Another recent law change allowed 100% foreign ownership in certain Vietnamese business sectors, but collaboration between foreign and native investors is likely to continue in the property sector.

How will the return of these investors shape the market?  Keep up to date on these pages as we share the latest news about Vietnam’s property market.

VietApartment NEWS

Vinhomes Golden River Apartment Project

Vinhomes Golden River Bason Location

Vinhomes Golden River (Vinhomes Ba Son) Apartment is a super project just has been accelerated to build in Saigon (Ho Chi Minh City). Vinhomes Golden River which is a compound project of luxury apartment, office-tel, office and villas expected to be a new hit of the real estate market in the South of Vietnam in the very near future.

Overview of historical Ba Son harbor where Vinhomes Ba Son is on

Vinhomes Golden River (Vinhomes Ba Son) Apartment owns a stunning location of the city, is on 1 among 3 golden harbor of historical Saigon Ba Son, Tan Cang and Khanh Hoi. And Ba Son is known as a diamond location of the city in District 1 and have a Saigon River covers. Residents in Golden River apartment can easily access to City Business Center and the rest area of City including new financial center in Thu Thiem Urban.

From Vinhomes Golden River apartment location, you can quickly get surrounding area by railway, road and water-ways.

+Railway: first metro-lines number 1 Ben Thanh – Suoi Tien is connected directly to Vinhomes Golden River give residents a chance to use this kind of modern traffic vehicle among complicated traffic system full of smoke and traffic vehicles.

+Land-roads: on the front side of Ton Duc Thang and Nguyen Huu Canh avenues in District 1, you can keep in touch with Binh Thanh, District 2, District 3, 5, 6, 7, and 10 just in 5 to 10 minutes.

+River-way: with a long side towards the Saigon River and have a deep harbor of Ba Son, in the future will be a yolk harbor for residents, Vinhomes Golden River Project is the second project just after Vinhomes Central Park Project has luxury harbor to express the level of residents staying in.

In the future, there will be a bridge connect Dinh Tien Hoang – Ton Duc Thang avenues to Thu Thiem new financial center. It will be convenient way for resident in Vinhomes Golden River Project to access to new business center of HCMC. This bridge will ease the traffic of this area when new Vinhomes Central Park project and Vinhomes Golden River apartment will open for residents to live. This is Thu Thiem 2 Bridge and you can see in below video.

For the reason of this area has metro-lines system goes through and historical memorial purposes of Ba Son Harbor, government set decision to build this area to be an opened area with riversides park, entertainment construction, historical places and luxury residences. Vinhomes Golden River Apartment in Ba Son will be a great place to live to enjoy life with over 80% is green park riversides and have big green zoo on the opposite side.

To visit our showroom address of Vinhomes Golden River Ba Son on No.2 Ton Duc Thang Street, District 1, HCMC, please call hotline 0982895089 (Viber or WhatsApp) or fill in this form

 Vinhomes Golden River Apartment Developer

Vingroup is the most prosperous and powerful corporation in financial investment. Vingroup was established in Ukraine in 1993 by the first Vietnamese billionaire dollar Mr. Pham Nhat Vuong. Since 2000, Vingroup come back to Vietnam market with a big desire to contribute to the national development, concentrating in investments field which are retail, electronic devices, e-commerce, tourism and real estate with many brand names, such as: Vinhomes, Vincom, Vinpearl, Vinmec, Vinschool. Vinhomes Central Park Apartment is the biggest construction that is the pride of Vingroup. Just after success of Vinhomes Central Park Apartment in Binh Thanh District, Vinhomes open Vinhomes Golden River in Ba Son habour for higher luxury segment and for billionaires.

Vinhomes Golden River Bason Information

• Developer official name: “CTCP Đầu tư dịch vụ Thương mại TPHCM” of Vinhomes Golden River apartment.
• Vinhomes Golden River Bason Address: 2 Ton Duc Thang Street, District 1, HCMC.
• Total area: 25.29 ha
• Construction density: 18,6%
• Height : maximum 60 floors
• Underground floor: maximum 4 floors
• Compound area: office, office-tel, hotel, villas and luxury apartments.
• Vinhomes Golden River Apartment in Ba Son Harbor has: 16 buildings of office, hotel, apartment and 63 villa that are divided into 4 areas:

The Aqua: 4 block of apartment – earliest building to sell with 2 side towards the Saigon River and Thi Nghe canal.

The Front: 3 block of apartments in the middle site.

The Luxury: 6 block of apartment on very luxury condition

The Victoria: 63 luxury villa area from 225sqm – 475sqm.

All apartment in Vinhomes Golden River Project is applied the latest technology in the world that bring to billionaire residents a luxury life and friendly to environment.

• Smart-home system
• Centered air-conditioner system.
• Low-E glass preventing heat and ultraviolet from outside, keep your apartment stable temperature and save electricity for air-conditioning task.
• Solar energy for heating water.
• Water filter follow European standard.
• Duravit sanitary from Germany
• Bosch from Germany from kitchen.

Typical layout of Aqua 1 building in Vinhomes Golden River Apartment in Bason

Legal basement for project development

People Committee of HCMC has just approved detail plan ration 1/500 of Saigon – Ba Son Complex Residence. This is plan of Ba Son Corporation (belong to Ministry of Defense) conduct and develop.

Detail plan of Saigon – Bason complex residence proposed by Ministry of Defense 

From the detail plan of Vinhomes Golden River Apartment above, you can see an area of 25.29 ha covered by the borders: Eastern and North-Eastern closed to Saigon River, West-Southern closed to Ton Duc Thang and Thu Thiem 2 (under construction), Western and North-Western closed to Nguyen Huu Canh and Northern closed to Thi Nghe Canal.

As the planning of Vinhomes Golden River Apartment on Ba Son, development will have over 14 ha for villas, apartment and shopping center, 11 ha for office, hotel, park and the rest area is for historical and conservative museum and metro station

To be privilege with golden location in District 1 and long border along Saigon River, Vinhomes Golden River Apartment in Ba Son will be a great place to live next to green zoo of the city. Involved with Vinhomes Central Park Project, Vinhomes Golden River Apartment in Ba Son will form a cultural and entertainment park from Saigon Bridge to Tan Thuan Bridge. Especially, architectural environment in Vinhomes Golden River Ba Son Apartment will be constructed on low ratio of development, with height of building decrease on trend towards the river blank to maximize mutual environment of residents. Among all luxury apartment projects in HCMC, Vinhomes Golden River Apartment will attract billionaire and wise investors by its central location and its river as golden point of our project. Every picky residents will like a luxury life besides cooling Saigon River. Hence, this place will be a point in the the map of the city where people are wishing to live. As the purpose of Vingroup developer, Vinhomes Golden River Apartment in Bason, as Vinhomes Central Park, will be a little city besides river only for luxury life. Owning a property like office-tel, apartment or villa will be very persuasive point to show your level and differences.

(Legal basement information is compiled from internet for informative purposes)

Vinhomes Golden River Bason Services

Vinhomes Golden River in Bason harbor is very luxury project with all of services 5 stars standard. Working and living in Vinhomes Golden River in Bason, you will have both factors: diamond location and golden river in one project.

Pricing and Payment and promotion of Vinhomes Golden River Bason

Pricing of Vinhomes Golden River Bason:

– Apartment 1 bedroom (included office-tel) percentages 17%
– Apartment 2 bedrooms (included office-tel) percentages 50%
– Apartment 3 bedrooms percentages 33%
Average selling price of Aqua 1, Aqua 2, Aqua 3, Aqua 4 (both sides are river and big green zoo) is from 3.500$-4000$/1sqm.

Price depend on type of property whether office-tel or apartment freehold, view, floor and unit.

Example price of Aqua 1 in Vinhomes Golden River Bason Apartment few days after official selling day on April 10^th, 2016. White units are available unit. Numbers shown in bil VND unit. First row is orientation of apartment, second row is area and third row is number of bedroom. OT signs stand for office-tel type and CH stands for apartment type.

This stage is great for buyers and investors buy Vinhomes Golden River Bason for several unique reasons:

+ Diamond location in District 1 where properties for rent and for live are very expensive.

+ Golden River and big green environment of the zoo behind project make Vinhomes Golden River Apartment is worthy to live than any others project in District 1.

+ Profit from investment would be around 7 to 9%/year just from rental yield make every investor be totally persuaded.

This compiled table of several main properties in District 1 can show you big difference of Vinhomes Golden River in Bason and that is also a reason you should buy/invest property in this project.

Payment Schedule of Vinhomes Golden River Bason Aqua 1-2-3-4

Sales and promotion program of Vinhomes Golden River Bason

Financial support from Techcombank, Vietin Bank and VP Bank up to 75% value of apartment to Vietnamese, Viet Kieu and foreigners who has Vietnamese relatives.

For customers who pay early money will have discount 7% from developer calculated on total prepaid days with any unit in Vinhomes Golden River Bason.

To have all detail information before buying, contact hotline 0982895089

The expansion of the city has seen investment from authorities, foreign speculators and developers to the tune of $8billion up to the 3^rd quarter of 2015.  Beneficiaries include:

• Transport improvements in the areas between Saigon Bridge and Vung Tau, including highway and bridge improvements, account for $3billion.
• New luxury units – around 40,000 individual residences – are under construction in Binh Thanh, Thu Thiem and District 2, with an estimated worth of $5billion.
• 300,000sqm of retail space are on their way in the same areas, as well as Thu Duc and District 9. Upon 2018 completion, experts predict a valuation of $300/1sqm for a total of $90million.

The Sun Avenue Apartment of Novaland developer in District 2

Experts excited

The estimates have emerged from reports by industry experts and observers.  One such company, who put forward the transport development figure, are Global Investment and Business Corporation (GIBC).  “We think this investment will result in a relocation of the city’s commercial and service sectors into these purposes built areas” said Mr Huynh Phuc Nghia of GIBC.

Another real estate expert suggested these investments represent a golden opportunity for investors.  “The follow on benefits from the $3billion infrastructure improvements are likely to be upwards of $5billion as additional commercial, recreational and educational ventures flock to the areas”, said University of Economics lecturer Ngo Dinh Han.

“The current central districts for these areas are saturated, and new additions like Thu Thiem Channel, Thu Thiem Bridge 1, Saigon Bridge 2, and Thu Thiem Bridge 2 are ideal in relieving some of the bottlenecks” continued Mr. Han.  “These new areas will also connect the city with outlying provinces, creating a greater metropolitan area, radically altering the shape of the city over the next decade.”

Connectivity to Saigon’s current central districts will be aided by completion of the Metro system, in addition to a new financial center in Thu Thiem.  Upwardly mobile Saigoneers may turn their attention to big new developments like Vinhomes Central Park and Sala premium residential areas over the next 2 years.

Such a churn of development leaves plenty of opportunities for investors, with prices in the new areas estimated at a quarter of D1/D3 equivalents.

Estella Heights apartment from Keppel Land and Tien Phuoc Developers

Some skepticism.

Not everybody is as taken with the sales pitch, however.

General Director of Viet An Hoa Company is one such skeptic.  “$8billion is an attractive headline number, but may not be entirely accurate.  The $3billion is in place but may not do the job of radically improving regional connectivity, while the rush to providing 300,000sqm of additional commercial space may lead to over capacity.”

He added some particular concerns of over-subscription in luxury development: “The market should be rebalanced.  Right now the rush is to provide high-end accommodation but the value of such construction should be spread across varying segments to accommodate eventual variations of demand.”

Whilst District 2 and Binh Thanh, he concluded, can provide valuations of up to $2000/1sqm which hold up, developments in Thu Duc and District 9 should be focused on sub-$100k/unit offerings.

What do you think?  Let us know in the comments below

VietApartment NEWS

—————————————————————————————————————————-

Riverside and luxury Vinhomes Central Park apartments of Vingroup developer are open to sell The Park building in this September! Register now to have the best apartment!

For the last decade, Vietnam has been opening its doors to the world.  In that time, McDonalds have opened their first branches here, WTO membership has been secured, and foreign tourism – though currently stagnating – has become an integral part of the Vietnamese economy.

Beautiful riverside Saigon Pearl apartment price from $125.000

On July 1^st 2015, another milestone was met: for the first time, foreigners were allowed to buy property in Vietnam.  2 months on, a steady flow of purchases have been welcomed by the industry as a sign the policy will boost a market which has suffered over-capacity in recent years. 

While bottom-line contributions to the economy – which is still experiencing robust growth – are the key driver of the changes, there is fervent hope that an additional benefit will be felt in improvement of Vietnam’s international business reputation.

Although cross-border trade and exports are healthy, Vietnam still suffers an unwanted reputation for ‘dodgy dealing’ and limited transparency.  Concerns abound that this may discourage foreigners from investing capital in.

But what are the realities of the situation?

Question time

If our inbox is anything to go by, the realities matter far less than suspicions that all is not as it seems.  Expats resident in Vietnam and buyers overseas have inundated us with questions, laden with concern and cautiousness.  Some have had bad experiences trading on the ground, or dealing with the authorities, while others have simply read horror stories on the internet and fear the worst.

The questions have a repetitive ring to them:

• “Can I actually buy property, and then sell it afterwards?”
• “Is it true that I can’t take my money out of Vietnam?”
• “Are there any safeguards if it all goes wrong? I’ve heard it’s the wild west out there….”

Simple questions, but – as with any aspect of life in a developing country – the answers are not always straightforward.  We’ve tried our best, however, to come up with answers for these and other key points which honestly reflect the situation as it stands.

1. “Is it really ownership, or just a lease?”

Perception: Foreigners don’t have the same right to buy as locals, and ‘foreign property ownership’ is effectively just a lease with severe limitations.

Reality:  In many media articles and in government output, the allowed ownership term has been described as a ’50 year lease’.  The term ‘lease’ is interchangeable in modern English with ‘rent’, and this is the source of confusion. 

The new law does limit the term of ownership to an initial 50 years, with an extension of 50 years allowable after that.  However, this is very different from a ‘lease’, and is in line with neighboring countries like Singapore and Thailand.

And unlike a lease, if a foreigner buys a property, there is no other ‘owner’ with overall rights to the residence, office etc. The foreigner owns the property entirely, just as a Vietnamese person would own it. 

The difference between local and foreign ownership is this: after 50 years, or 100 years after extensions, you are compelled to sell the property. You can sell it to whoever is eligible to buy it, and revenue from the sale would be yours. Period.

Vinhomes Central Park overview

2. “Can I transfer cash out of Vietnam?”

Perception: Getting cash into Vietnam is easy, but banks and the authorities will block any transfer of money out of the country.  They want to keep the money in the country at all costs.

Reality: It’s not as quite as easy transferring money from bank to bank in your own country, but it’s pretty straightforward – as long as everything is legal and above board – although exchange rates might prove problematic.

Sending money home from a sale does require a few hurdles to be jumped, but it is a transparent process regulated by the State Bank.  They stipulate the procedures to the commercial banks, who are required to check the legality of all money going out of the country.

We spoke to Techcombank, which is backing some big new projects like Vinhomes Central Park and Masteri Thao Dien, and were told the steps to transferring your cash out following the sale of a property are:

1. Retain all documentation, including banking transactions, proving the property you’ve sold is yours and the proceeds are rightfully yours.
2. Take this, along with ID like passport, Visa and/or resident’s card, to the relevant bank, and fill out the transfer order forms
3. The bank then checks your paperwork, and that the amount being transferred doesn’t exceed the proceeds of the sale. If it all checks out, they process the transfer.

There is one issue which might cost foreigners to lose some cash in such a transaction: exchange rates.  By law, all purchases must be in the local currency – Vietnamese Dong (VND).  The buyer is required to transfer the cash into the country in foreign currency, and then convert it to VND prior to purchase.

The reverse then applies after a sale – VND has to be converted back into foreign currency before it can be transferred out.

The big banks offer globally competitive currency exchange fees, and remain a better option than using secondary or ‘black market’ sources, especially for preserving the legality of the sale.  The real question for every buyer and seller – as with any international transaction – is: will global exchange rates help or hinder your profit margin at the end of the day?

3. “Are there any agents we can trust?”

Perception: Everything in Vietnam is about getting quick cash today and not thinking about tomorrow, and it makes vendors impossible to verify.  Can any local agent be trusted?

Reality: Sadly, there are too many bad agents out there for this to be entirely in the ‘myth’ category.  But there ARE good ones, and there are ways to find them.

Though there are isolated cases of outright theft in the industry, the biggest issue that all buyers – foreign and domestic – face with disreputable agents is what can be charitably called ‘misdirection’:

• assurances that facilities can be included when they can’t;
• promises of lovely views tarnished by the reality of a new adjoining construction;
• wildly overestimating completion and delivery times; and
• a complete lack of transparency in dealing with problems and questions on every level.

As agents ourselves, we despair at hearing tales of dodgy dealings.  Most Vietnamese people are honest, and feel genuine anger and embarrassment each time a fellow countryman behaves dishonorably towards an honest foreigner.

Don’t despair though – here are some tips on avoiding the bad guys:

1. Check their trade memberships: the industry as a whole is keen to improve its reputation, and bad agents tend to shy away from its glare by acting alone. Always check whether an agent is part of an association which regulates its membership, such as Ho Chi Minh City Real Estate Association, the Hanoi equivalent, or the national association, VnREA.
2. Take on two: want to verify the answers you get from an agent? Speak to a competitor, and compare the information.  If something doesn’t add up, then move on.  It’s a buyer’s market out there, so use this to your benefit.
3. Ask lots of questions: don’t be afraid of asking the most searching queries. If the answer is always “Yes, of course” or a broad, smiley shrug, they’re probably a wrong ‘un: good agents want you to have all the information you ask for, not just tell you what you want to hear.
4. Research, research, research: Found somebody whose website looks great? Ask around about them, whether a friend or an online expat/business community.  Check and double check every reference you get, and if they don’t provide them, say goodbye.
5. Check the menu: does an agent keep offering you property in a development you’ve already rejected? If so, go elsewhere.  A good agent is there to help you find the right solution for you, not their mates at a project offering them extra commission, and should have a wide range of options available.

We of course can’t guarantee these steps will always lead to a good experience, but they will help.

4. “Won’t the government change its mind?”

Perception: Vietnam’s communist government lacks transparency, and is prone to sudden changes.  They are pro-foreign money now, but they could well change their policies in a heartbeat.

Reality: It’s true that the Vietnamese policy-making machine is far from open and accountable, and remains a mystery to those outside its inner circle.

However, it’s track record suggests it isn’t prone to knee-jerk changes in big chunks: in fact, quite the opposite.  Big changes happen slowly – too slowly for some – and any major policy shifts which would reduce their standing in international circles (apart from China perhaps) are thought to be seriously unlikely.

Especially so in 2015, when the previous decade has seen the Government double down time and again to increase – not decrease – its entanglements with foreign bodies.  From WTO membership in 2007 right through to the imminent TPP deal, international trade ties are deepening all the time, and any moves – like suddenly changing foreign property laws – would do lasting harm to these pursuits.  Details have been amended through subsequent circulars, and further updates are expected, but the core of the legislation is likely to be unmoved for some time.  Foreign ownership is here to stay.

Of course, there is technically the possibility that a big change could occur. But isn’t there also a technical possibility that Canada could declare war on the USA?

5. “Is it true we can buy property but not land?”

Perception: the law says that while foreigners can buy property, they can’t own land.

Reality: Entirely accurate – but this goes for all buyers, not just foreigners.  Officially, the state is the sole owner of all land in the country.

Gateway Thao Dien, Beautiful riverview apartment

6. “Why can we only buy apartments, and in certain areas?”

Perception: Foreigners are corralled into buying in certain districts, and certain types of property.

Reality: The law is clear on this: though there are some restrictions on the quantities of foreign ownership, individuals retain the right to buy any kind of property, in any part of the country.

The broadest restriction is this: each individual ward (or Phuong) can only allow 250 houses, or 30% of an apartment block, to be purchased by foreigners.  Currently, there’s plenty of capacity for anyone to buy where they want, and any local authority resisting this faces investigation higher up the food chain, and even by the police.

There are other caveats yet to be clarified, such as foreign ownership being disallowed in areas owned by the military, but risks around contravening this are minimal.

7. “Is our investment safe in Vietnam?”

Barring the acts of criminals, it’s as safe as it is at home.  Of course, the value of property can go down as well as up, but the same is true anywhere.  Right now, the market looks positive, and the deepening of US-Viet ties look set to keep it buoyant in the long term.

Just the beginning

So, is it safe for foreigners to buy property in Vietnam?  We think so.  We think it’s a good investment too, but it’s important to note that there are hurdles to jump along the way.  These are just some of the issues facing all buyers – foreign and domestic – in an emerging market taking its biggest steps to openness in history.  We’re only 2 months into this ‘brave new world’ and some parts are still to settle down and reveal themselves, while other issues are yet to emerge.  When they do, we’ll let you know about it honestly and objectively.

It’s important to note that, yes, we are an agency – and we would love to sell you a property –  but in addressing these questions, we feel the right thing to do is to give you an honest appraisal based on facts and experience.

Got any questions you want answered about the property market here in Vietnam?  Get in touch and let us know.
Subcribe our Newsletters

VietApartment NEWS

(Any reproduction of this material by any means, in whole or in part, is prohibited without written permission from VietApartment.com)

Just after a post about the price of Vinhomes Golden River Apartment in Bason, payment schedule is the next thing customer should know. With this basic payment, you can follow or pay at once to have big discount from developer Vinhomes Golden River.

Payment Schedule of Vinhomes Golden River Bason Apartment in Aqua 1-2-3-4

Sales and promotion program of Vinhomes Golden River Bason

Financial support from Techcombank, Vietin Bank and VP Bank up to 75% value of apartment to Vietnamese, Viet Kieu and foreigners who has Vietnamese relatives.

For customers who pay early money will have discount 7% from developer calculated on total prepaid days with any unit in Vinhomes Golden River Bason Apartment.

To visit our showroom address of Vinhomes Golden River Ba Son Apartment on No.2 Ton Duc Thang Street, District 1, HCMC, please call hotline 0982895089 (Viber or WhatsApp) or fill in this form

To learn more about Vinhomes Golden River Bason Apartment, click the link to have a wider view of information. Thank you.

Viet Apartment

Distributor of Vinhomes Central Park Apartment

Pricing of Vinhomes Golden River Bason:

– Apartment 1 bedroom (included office-tel) percentages 17%
– Apartment 2 bedrooms (included office-tel) percentages 50%
– Apartment 3 bedrooms percentages 33%
Average selling price of Aqua 1, Aqua 2, Aqua 3, Aqua 4 (both sides are river and big green zoo) is from 3.500$-4000$/1sqm.

Price depend on type of property whether office-tel or apartment freehold, view, floor and unit.

Example price of Aqua 1 in Vinhomes Golden River Bason Apartment few days after official selling day on April 10^th, 2016. White units are available unit. Numbers shown in bil VND unit. First row is orientation of apartment, second row is area and third row is number of bedroom. OT signs stand for office-tel type and CH stands for apartment type.

This stage is great for buyers and investors buy Vinhomes Golden River Bason for several unique reasons:

+ Diamond location in District 1 where properties for rent and for live are very expensive.

+ Golden River and big green environment of the zoo behind project make Vinhomes Golden River Apartment is worthy to live than any others project in District 1.

+ Profit from investment would be around 7 to 9%/year just from rental yield make every investor be totally persuaded.

This compiled table of several main properties in District 1 can show you big difference of Vinhomes Golden River in Bason and that is also a reason you should buy/invest property in this project.

And from this table, you can see a differences of price in early stage of Vinhomes Golden River Bason Apartment compared to others projects in District 1.

To visit our showroom address of Vinhomes Golden River Ba Son on No.2 Ton Duc Thang Street, District 1, HCMC, please call hotline 0982895089 (Viber or WhatsApp) or fill in this form

To learn more about Vinhomes Golden River Bason Apartment, click the link to have a wider view of information. Thank you.

Viet Apartment

Distributor of Vinhomes Central Park Apartment

Vinhomes Golden River apartment is located in an area of over 25 hectares includes 16 buildings shown in below picture. All services of Vinhomes Golden River apartment is numbered from 1 to 25. All are exceptional, all are different!

To visit our showroom address of Vinhomes Golden River Ba Son Apartment on No.2 Ton Duc Thang Street, District 1, HCMC, please call hotline 0982895089 (Viber or WhatsApp) or fill in this form

To learn more about Vinhomes Golden River Bason Apartment, click the link to have a wider view of information. Thank you.

Viet Apartment

Distributor of Vinhomes Central Park Apartment

Vinhomes Golden River (Vinhomes Bason Apartment) will be like the video you see below

• Developer official name: “CTCP Đầu tư dịch vụ Thương mại TPHCM” of Vinhomes Golden River apartment.
• Vinhomes Golden River BasonAddress: 2 Ton Duc Thang Street, District 1, HCMC.
• Total area: 25.29 ha
• Construction density: 18,6%
• Height : maximum 60 floors
• Underground floor: maximum 4 floors
• Compound area: office, office-tel, hotel, villas and luxury apartments.
• Vinhomes Golden River Apartment in Ba Son Harbor has: 16 buildings of office, hotel, apartment and 63 villa that are divided into 4 areas:

The Aqua: 4 block of apartment – earliest building to sell with 2 side towards the Saigon River and Thi Nghe canal.

The Front: 3 block of apartments in the middle site.

The Luxury: 6 block of apartment on very luxury condition

The Victoria: 63 luxury villa area from 225sqm – 475sqm.

All apartment in Vinhomes Golden River Project is applied the latest technology in the world that bring to billionaire residents a luxury life and friendly to environment.

• Smart-home system
• Centered air-conditioner system.
• Low-E glass preventing heat and ultraviolet from outside, keep your apartment stable temperature and save electricity for air-conditioning task.
• Solar energy for heating water.
• Water filter follow European standard.
• Duravit sanitary from Germany
• Bosch from Germany from kitchen.

Typical layout of Aqua 1 building in Vinhomes Golden River Apartment in Bason

To visit our showroom address of Vinhomes Golden River Ba Son Apartment on No.2 Ton Duc Thang Street, District 1, HCMC, please call hotline 0982895089 (Viber or WhatsApp) or fill in this form

To learn more about Vinhomes Golden River Bason Apartment, click the link to have a wider view of information. Thank you.

Viet Apartment

Distributor of Vinhomes Central Park Apartment

Vinhomes Golden River (Vinhomes Ba Son) Apartment is a super project just has been accelerated to build in Saigon (Ho Chi Minh City). Vinhomes Golden River which is a compound project of luxury apartment, office-tel, office and villas expected to be a new hit of the real estate market in the South of Vietnam in the very near future.

Overview of historical Ba Son harbor where Vinhomes Ba Son is on

Vinhomes Golden River (Vinhomes Ba Son) Apartment owns a stunning location of the city, is on 1 among 3 golden harbor of historical Saigon Ba Son, Tan Cang and Khanh Hoi. And Ba Son is known as a diamond location of the city in District 1 and have a Saigon River covers. Residents in Golden River apartment can easily access to City Business Center and the rest area of City including new financial center in Thu Thiem Urban.

From Vinhomes Golden River apartment location, you can quickly get surrounding area by railway, road and water-ways.

+Railway: first metro-lines number 1 Ben Thanh – Suoi Tien is connected directly to Vinhomes Golden River give residents a chance to use this kind of modern traffic vehicle among complicated traffic system full of smoke and traffic vehicles.

+Land-roads: on the front side of Ton Duc Thang and Nguyen Huu Canh avenues in District 1, you can keep in touch with Binh Thanh, District 2, District 3, 5, 6, 7, and 10 just in 5 to 10 minutes.

+River-way: with a long side towards the Saigon River and have a deep harbor of Ba Son, in the future will be a yolk harbor for residents, Vinhomes Golden River Project is the second project just after Vinhomes Central Park Project has luxury harbor to express the level of residents staying in.

In the future, there will be a bridge connect Dinh Tien Hoang – Ton Duc Thang avenues to Thu Thiem new financial center. It will be convenient way for resident in Vinhomes Golden River Project to access to new business center of HCMC. This bridge will ease the traffic of this area when new Vinhomes Central Park project and Vinhomes Golden River apartment will open for residents to live. This is Thu Thiem 2 Bridge and you can see in below video.

For the reason of this area has metro-lines system goes through and historical memorial purposes of Ba Son Harbor, government set decision to build this area to be an opened area with riversides park, entertainment construction, historical places and luxury residences. Vinhomes Golden River Apartment in Ba Son will be a great place to live to enjoy life with over 80% is green park riversides and have big green zoo on the opposite side.

With all of features that brings convenience to billionaires residents by its location, we again can see the importance of central location not only to Vinhomes Golden River developer but also for customer and investors to buy and in the future to live.

To visit our showroom address of Vinhomes Golden River Ba Son on No.2 Ton Duc Thang Street, District 1, HCMC, please call hotline 0982895089 (Viber or WhatsApp) or fill in this form

To learn more about Vinhomes Golden River Bason Apartment, click the link to have a wider view of information. Thank you.

Viet Apartment

Distributor of Vinhomes Central Park