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

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

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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!

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

Vinpearl Premium Villa Facing the ocean

Many of these rules might be plain common sense to some, but the best routes to a successful transaction are often the simplest.  The new law which came into effect on July 1^st 2015 has added a new dimension to the property market never before seen in Vietnam: legal ownership options for foreigners.

Mr. Ngo Dinh Han, real estate lecturer at the University of Economics Ho Chi Minh City, is positive about the impact of these changes, but is keen to reinforce good practice in this brave new world.  Here are his 8 key rules of thumb for a safe and productive investment:

• Get certified

It’s not enough to have a Vietnamese name.  To qualify as a Viet Kieu, and enjoy the same ownership rights as citizens of the country, you need to have your identity documented.

Currently, Vietnamese origin can be certified by the diplomatic missions of Vietnam abroad, the State Committee of Vietnamese living abroad, or regional Departments of Justice.  This should be done as early as possible, or your ability to buy as a Viet Kieu will be limited.

If you can’t verify your origin, you can still buy legally on the same terms as non-Vietnamese foreigners.

Vinhomes Central Park Overview

• Clear your cash flow

If you’re paying via a bank transfer, consult with financial institutions at either end of the transaction to ensure the specific needs of the law are met.  There needs to be a paper trail documenting the origin of your money before a purchase can be ratified.

As for where the money comes from, it’s advisable to generate the cash from your overseas base, to limit exposure to Vietnamese banks’ lending rate fluctuations.

• Keep it legal

Do not part with money without legalities being entirely secured.  This means ensuring the property has a “Pink book”, without which ownership cannot be verified.  If someone offers you a bargain but doesn’t have the paperwork, run away from them. Quickly.

If you’re looking to buy into a new or developing project, double check both the legalities, reputation and realities of the developer you’re planning to do business with.

• Know what you want

Don’t just look at prices and promising rates of return.  Is the property what you actually want?

If you’re buying for rental purposes, is the Villa in Thu Dau Mot really your best option?  If you’re buying now to live in later, will you want to have a property next to a university or industrial park?

Location, as ever with property, is the biggest factor.  But not the only one.  If you’re planning to buy without a deep understanding of the area, conditions, prospects and outcomes of similar projects, then – take a breath, step back and do your homework.

• Work with professionals

A professional, independent brokerage firm might be the wisest part of your investment plans.  Regulations and legislation can be cumbersome, and stump even the natives, despite them being long-exposed to Vietnamese bureaucracy.

Engaging a third party to assist in the purchase is vital in negotiating what is still a new, emerging market.  A trusted partner on the ground will have up to date insight into the real state of the market, as well as essential knowledge of how to deal with all aspects of the agreement.

• Off-plan legalities

By law, new developments must be fully guaranteed by the banks.  If you’ve met all of your own obligations, this is hugely advantageous: if the developer fails to deliver as agreed, this guarantees a refund of all your payments to that date.

You can check which projects have been certified via the State Bank, who can tell you which of 33 banks are backing your project of interest.  If you can’t get this verified, then do not buy off-plan.

• Manage your property

Your investment is only as good as the state of your property.  Ensuring the property is well-maintained is vital to securing any kind of return.

If you have family happy to keep an eye on the place and respond to the needs of tenants, great.  If you don’t, use an asset management company – it’ll pay for itself in the end.

Beautiful riverside Saigon Pearl-good investment now 

• Get a lawyer

If you’re doing this right, then you will have a lot of legalities to manage – your own Viet Kieu origin, dealings with brokerage and asset management companies, not to mention contracts, money transfers and keeping up to date with legislative changes.

Don’t be a hero – get a specialist lawyer you trust, and let them carry the load.

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Of course there are things you can’t predict, and bad luck and dodgy dealing can always happen.  But with the post-1^st July law changes already boosting the market, it’s still a great time to buy – and these tips are a great place to start.

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>Share if this blog is useful

In the first day, 1st of July, Vinhomes Central Park of Vingroup investor opened a event at night at the showroom, in connection with CBRE and 26 companies in the area with mostly custormers are foreigners and Vietkieu. The number of the potential customer attend in this event up to 400 so that in Vinhomes Central Park showroom that day is very crowded with customers than usual.

This day is not the first time real estate developer work with foreigner but we see that they work very hard to explain about the information, payment, law and anything related to the profitable investment of customer come form many country. As we record, the source of customers is various: USA, Great Brittain, France, Japan, Korea,…This proves that new law has reach a large impact all over the world to the investor and customer.

Vinhomes Central Park is supposed to be the biggest project in Vietnam now, both in the area and the quality of living. Vinhomes Central Park Residence scales total area of over 43.91 hectares. Building density of Vinhomes Central Park apartment is approximately about 16% of the whole area. Most of the rest area designated as a scenic campus and residential utility. That makes Vinhomes Central Park have a truly attractiveness to many people especially to foreigners and Vietnamese who want to invest in to this project. Vinhomes Central Park Project is divided into several main areas which meets a wide range of entertainment and hobbies of people staying here.

Total area: 43.91 ha
Construction density: approximately 16%
Green plans area: 13.8 ha
Construction Completion expected on 2017
Vinhomes Central Park structure:
+ Modern and luxury apartment: Includes apartments and officetel (from 1-4 bedrooms) / apartment duplex / penthouse.
+ Over 70 villas (3.65 ha)
+ Vincom commercial center (59.000 sqm)
Project area: 439.100sqm, Total investment budget: 30.000 billion VND

+ Vinmec, a luxury international 5-star hospital reach over all standards, is a good address of health care at high level in Vietnam
+ Vinschool is an associated-level education system from Kindergarten to Elementary, Middle School and high School which are invested by famous Vingroup.
+ Vincom Center is designed according to the “all in one” way including the shopping center – food shop and entertainment center in an area of 59.000sqm.
+ Unique cruise harbor on Saigon River is completely different point which Vinhomes Central Park Residence present to business men and foreigners having a different favorite.

READ MORE>>

We are waiting for different number from Sala Premium Residence to inform you as quick as possible.

VietApartment NEWS

In section 6 of the new real estate law issued in 2014, Vietkieu has ability to buy property in Vietnam in the same right as Vietnamese. It means that Vietkieu has no limit in the number of apartment or property in one project or has no limit of 500 sqm of the property their buy. These privilige applied only when Vietkieu has been certified origional hometown in Vietnam therefore some paper of instruction should be noted. The problem is when Vietnamese move out of Vietnam and they lost all of paper then which organization could official certified for them? In order to solve this problem, the head of Horea Mr. Le Hoang Chau propose that the original of Vietkieu should be noticed by the hometown on the passport of America. From the second generation forths, it should be a paper shown the relationship with the fisrt one has these criteria.

About the real estate market after the first day of new law application, foreigners and Vietkieu are still finding the best way to know all the law and ensure that their investment will be protect in the future. Number of transaction is not high as expected of many experts. That is some information we collect form some project like Vinhomes Central Park and The Sun Avenue apartment in District 2.

The new law of foreigner can buy and own property in Vietnam is just applied one day and you should, as foreigner and Vietkieu should carefully read it. We want to remind you again following.

READ MORE >>

VietApartment NEWS

Today, we introduce you one project that may excite you right at the Saigon Business Center, RiverGate apartment Residence. You have only to pass the river then you can get the Saigon Properous Center. The location is very convenient and that place is a dreaming place for any one to own an property in Saigon.

River Gate apartment designed in luxurious and modern way is a most high quality residence project in central region that Novaland is developing now. The project is a harmonious combination between offices, commercial centers and apartment into a perfect unity.

River Gate Apartment consists of two buildings from 27 to 33 high floors which area varies from 56.80sqm to 114.24sqm. After finish, River Gate Apartment is a symbol of beauty, harmony, grace and elegance beside Saigon River. All apartments hear are designed in open-air style in harmony with at least two surfaces exposed to river space.

River Gate Apartment: 151 – 155 Ben Van Don, ward 6, District 4, Tp HCM
Type of properties: Complex buildings of apartment-commercial and offices.
River Gate Structure: project includes 5 substair, 6 floors of commercial offices, 7th floor especial for all of conveniences and services for residents, and the rest are apartment from 27 to 33 floors in 2 block of buildings.
6 foot floors: 3 floors for commercial offices and 3 floors of officetel + commercial.
River Gate apartment is on area of 9600sqm
River Gate apartment ’s height: 27-33 floors

READ MORE>>

VietApartment NEWS

The Landmark81 is estimated 350m high, which has 81 floors and would be the most convenient and highest building in Vietnam in future.

With many luxury utilities ever-seen for the first time, The Landmark81 will not only be the highest building in Vietnam but also be the most luxury one – which is a symbol for the dynamic development in Ho Chi Minh City.

The Landmark81 is estimated to be 350 meters high, which has 81 floors, is built at the central of the urban Vinhomes Central Park, along with the Saigon River. The total area for construction is 141.000 m2, included functional zones such as: hotels, serviced apartments, commercial office Office-tel, shopping mall and restaurants, bars, watching towers…

The five star hotel zone in The Landmark81 has about 450 rooms with the luxurious “President room”, which is 1.000 m2 and you could have a 360 degree view around the city. It also has about 900 of elegant serviced apartments Vinhomes and commercial office Office-tel, and you could easily choose for yourself a standard of 5 stars apartment and a super privilege 6 stars one, which is 400 m2 in square and 180 degree view. Especially, the restaurant Skybar at 66th and 67th has 360 degree wide view. This will be the world-class luxurious and attractive system of restaurant and bar. The observing zone located at 79th, you could have a very wide view for all around uncle Ho City and surroundings.

At its basement, we have the super mall Vincom Center with area of 59.000 m2, create a special luxurious space for shopping. There is also a large Square with the modern system of fountain, next to the urban landscape with green parks and the Saigon ahead.

From The Landmark81, you could have a panoramic view along the windy Saigon River, especially, class marina when it finished the construction.

The Landmark81 include the combination of shopping mall, hotel, restaurants and privilege serviced apartment which is modern, convenience and world class.

With all the strong points mentioned which is the first ever appeared in Vietnam, the Landmark81 is not simply break the records in height but also it is: the highest watching tower in Vietnam, the highest apartment building in Vietnam and the highest bar in South East Asia. Also, it is the most luxurious building, converged many world class designing and consulting partners.

Namely, Atkins is in charge for the designing. Atkins is known as the designing partner for big constructions such as: Bahrain World Trade Center, International Airport Kind Abdulaziz at Arab Saudi, Lotus Hotel at ShangHai…

Arup, which is one of the most reputed construction designer by having Opera Sydney Theater or the Center Pompidou in Paris in its credential profile, took its part for building structure. The interiors are designed by privileged brands such as Versace, Armani…

Being the heart of the city, The Landmark81 easily connect to other functional construction and buildings in the area, create the attraction for the whole center zone of this project. It is also a “wonder” for living space, luxurious and crowded in Ho Chi Minh City.

As estimated, after completion at the end of 2017, The Landmark81 will also be the symbol for the dynamic and prosperity of the city, which is the best destination for exploring to all the local and global people.

Vinhomes Central Park, invested by Vingroup, located at Tan Cang Zone, Binh Thanh District, Ho Chi Minh City. Vinhomes Central Park is considering as a sized green city with the area of 43.91 hectares, the constructed density about 16%, the total green zones up to 14 hectares, the façade stretches over 1 kilo meters on the bank of the Saigon River, included some major subdivisions: apartments and villas; office for lease and serviced apartment, shopping mall and other utilities zones. In particular, the villas and apartments is modern built and best in class in Vietnam. Also, Vinhomes Central Park has first class marina in Vietnam.

Viet Apartment NEWS

In Icon 56 apartment, you will have very big and attractive promotion and please note it as a grateful present for all the people who are  giving a trust in Novaland as a big company in Vietnam.

PROMOTION OF ICON 56 APARTMENT
( Applied from April 1st to June 31th, 2015 )

Furniture promotion
Customers who buy apartment in ICON 56 project from 4th to 13th will receive furniture promotion:
– 1 bedroom apartment: furniture values 150.000.000 VND (number 7, 8, 9, 12A, 12B)
– 2 bedrooms apartment: furniture values 205.000.000 VND (number 1, 4, 5)
– 3 bedrooms apartment: furniture values 240.000.000 VND (number 2, 3, 6)
– 3 bedrooms apartment: furniture values 330.000.000 VND (number 10, 11)
Furniture promotion can be directly calculated in to selling price included VAT.
Pricing
Selling price from 26.000.000 VND per square meter depend on location. High discount up to 7%. Flexible payment. You will be financed by Techcombank with loaning rate 8.99%/year fixed in 3 years

Pricing of ICON 56 apartment for normal payment.

Pricing of ICON 56 apartment for short payment.