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Buy apartment in HCMC

Hi

I want buy an apartment in HCMC, before I thought just buy one in the building which I rent for years, but been told buy the agent foreigners can't buy from vietnames.( and seem agent is not interested in me, haha, no one chase me around)

So now I'm looking for new ones, but I even don't know what's on market, the only way I thought is going out to check the construction site.( too hot and dumb). Is there any information about new apartment sale information? How I contact the agent?:)

Any experience sharing ?

Buy things in VN is really hard

Before u go look for condo to buy, u need a Vietnamese friends to help you to translate.  What district u want to invest in,  what is ur budget?  Let me know I can help,  I already two condos,  I am USA citizens

I have contacts working in CBRE and Savills who can steer you in the right direction. Best you stick with a reputable company when spending large amounts of money here in VN on an apartment or villa.

Msg me if you need further info.

Right on that foreigner can own property in Vietnam but for apartment, you just can own up to 50 years. If you want the properties belonged to you permanently, you ask a Vietnamese who you trusted to help you with it.

The law about foreigners buying properties in Vn is still changing.

Is it true that foreigners can only buy new built properties or can they buy second hand properties?

You can visit the website: Batdongsan and find there a lot of offers for renting and selling.

Just purchased in Vinhome Central Park. You need to set the Quality expectations for both workmanship and materials. Many issues attempting to resolve which is taking sufficient time from my busy schedule. Even with this said a good place to buy.

The Level of Quality in Asia is much different that that in the west.

Good Luck

How does the financing work?  Or you need to pay all cash installed payments until completion as foreigners.

Yada,

Sorry no clue...paid cash

There are several of new projects, especially in District 2.

it really depends on the location you want and your budget.
It also seems that foreigners can only purchase to project developers or to others foreigners. This is to control the market and avoid big properties to fall under non sovereign hands (Chinese??)

For the payment, they usually have 2 ways:
1) Cash and you may have a certain discounts (5-8%)
2) Settlement, like you need to follow the construction progress. 5% every 2 months, etc... If the project has already started, you may need to catch up. (40% now and 5% every 2 months, etc..)

Good luck

Hi Wesser,

You should go around the place you want to live. But according to me, dist. 7 (Phu My Hung Area) or dist. 2 is the place suitable for expats or foreigners, busy person who need to have a good environment with many utilities, market, school, trade center, bank, etc... and short distance to dist. 1 (Ben Thanh market).

Firstly, you should rent one apartment to live in the short time, and feel ...
If it is ok, you can buy.

***

Thank you very much
Best wishes to you !

Moderated by Priscilla 9 months ago
Reason : No free ads please
dudumomo :

There are several of new projects, especially in District 2.

it really depends on the location you want and your budget.
It also seems that foreigners can only purchase to project developers or to others foreigners. This is to control the market and avoid big properties to fall under non sovereign hands (Chinese??)

For the payment, they usually have 2 ways:
1) Cash and you may have a certain discounts (5-8%)
2) Settlement, like you need to follow the construction progress. 5% every 2 months, etc... If the project has already started, you may need to catch up. (40% now and 5% every 2 months, etc..)

Good luck

With novaland, they offer a 5% discount if you pay up front but it's not a great incentive. If you work out that 5% over the 2-3 years it takes for the project to complete... you're better off letting that money work for you elsewhere and you could get a 5% return in a single year. Paying in installments can also get you a discount depending on how much you pay as a desposit.

Yogi this week got some good "mail" from a senior exec working for one of the two biggest Property groups here ( no names).

What he said seems to stack up.   He is of the view that in about 12 to 18 months the buying opportunities will be substantially more attractive.   The following words keep bobbing up, Oversupply, Bubble, market correction etc... The flippers are getting nervous, the Bankers  that financed the flippers are on "suicide watch"😆

Those 5% discounts for getting in quick  .......Given what this guy said, they will be dwarfed by the correction that's coming.

If you look around, most markets in the region are tanking.  There having big problems selling in Thailand, Malaysia , Philippines etc.   Turnover in Malaysia is down nearly 40%.   Empty apartments are now being flogged off as hotel accommodation.   I recently rented an upmarket apartment in KL for peanuts.  The building was nearly empty .

Even in Australia , front page news is talking about a property Armageddon.😆

Some of these pundits are suggesting the only safe thing to invest in is canned food. 
Better get a good can opener huh.....

Thinking of food...Yogi better go find some bush tucker.....so....Armageddon out of here.

😆😆😆couldn't help it...had to throw that in.

Moderated by Christopher 9 months ago
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