Buy apartment in HCMC

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 !

dudumomo wrote:

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.

Hi, how's your apartment? Vincom Central Park is really a good choice. But I heard that it is difficult for foreigner to get the ownership certificate, the procedure is long and complicated. Worried about it

My wife is from Vietnam so no issues with buying. If I had to do it over again I would have NEVER selected VH Central Park. Spoke to 2 site inspectors whle construction continued. They both indicated things were out of control. Nothing got fixed. My guess is because of deadlliness and Completion Bonus to upper Management. I have 40 years of Global experience in Quality for the Construction and Manufacturing Sectors. I still may Consult with Major Companies as I am considered an Expert in my field. VH is a poorly managed company...top - down...high turnover..our unit has had 14 unit managers in 2.5 years. The quality of materials and workmanship is poor at best. Almost everything has had to be replaced or repaired  Many times they have left the issue in a  worse condition.Not once has anyone from their Senior Management contacted me. Look for the projects from Japan as there are a couple. I had visited one which had excellant Design and materials. They indicated only Japanese workers but can not confirm.The only reason we did not move forward as the complex seen sun all day.

Understand how the Vietnamese view Quality...' Good Enough' is their approach. Vinhomes want foreign investment but  can not deliver the Quality expectations.

I just stayed at VinHomes central park (airbnb) and was pleased.  Which builders are good in HCM?  I'm really interested in buying something in a year.  I'm staying at Masteri right now, and I think the quality is a level down from VinHomes.

as x pat use a lawyer, its a mine field out there! I bought an apartment 3 months back, cost me 2k usd lawyers fees but well worth it believe me!