Condotel in Vietnam

Hi foreigners and locals, what do you think about investing in condotel in Vietnam? Actually that would be more a question for locals but my Vietnamese skills are so bad haha.
I heard about a new project in Vin Pearl Phu Quoc but last time I've been there it was empty on a Sunday.

There are and will be some condotels in Vietnam such as Vinpearl Condotel Phu Quoc, Condotel Grand World Phú Quốc of LDG Group, Havana Nhatrang, Vinpearl Condotel Nhatrang,  A la Carte Danang, Olalani Resort and Condotel Danang, New Life Tower Ha Long Bay. You can check them.

I thought the link I gave you on another thread would have scared you off condotels...seems not.

colinoscapee :

I thought the link I gave you on another thread would have scared you off condotels...seems not.

Hello Colinoscapee,

That is what you wrote:
"Condo-hotels are a bad investment, they promise the earth and give you very low returns, read below.

Additionally, there are tons of financial risks with condo-hotel investments. First, there are risks when buying into an HOA community. You also have the risks that come with owning part of a hotel such as a downturn in the economy or poor management of the property. Lastly, the allocation of expenses between the condo-hotel units and other portions of the property – such as a developer-owned hotel or retail space – presents a risk."

Was that your link? Maybe it's been removed?
Well, I always try to get as much info as I can. I appreciate your infos, I haven't bought anything so far, I just try to dig down and understand more. But yeah in Vietnam it's surprising when someone tries to understand and make researches.

We have had this very same system in Australia for many years, it's not popular for one reason, you don't make any money from it. Do a search online, you won't get too much info from agents here as it's virtually a new form of real estate.

Yeah I also think it's risky investment... making at least 10%... so why don't the developers do it for themselves?
But as it's new, I was thinking the developers could inject a lot of money to make it work and reassure the investors.
I still try to get as much info as I can but I will prolly don't invest in here.

My brother looked into this years ago.

Rental return 24000.00 aud
Outgoing costs mainly to the hotel 22000.00 aud

Profit over one year 2000.00 aud.

Yep, I see... Thanks, I really appreciate your contribution :)

To be honest, if I was going to buy something it would be either a house or land. Apartments always have associated costs.

Yeah difficult for foreigners to own land or house.
I'm thinking more and more about apartment. I got plenty of offers. Now I need to make the right choice.

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