VinHomes Central Park

Kooler42 wrote:

Thanks for the info...much homework to do

Gday Kooler,
That's probably the best angle to take.   I've been reading about the property markets in neighbouring countries and they are all slowing......eg  Malaysia is down 35% in turnover.

Only this week in the local "news" the previous 3 months sales figures for apartments are down.  And that word "bubble" keeps getting mentioned.   Most of the buyers are speculators & flippers.   Once the gamblers here the word bubble they start backing off.     Now wouldn't be a good time to get in. 

I'm in Nha Trang and they are building like crazy.  Everyone from taxi drivers to hairdressers is an agent for selling these apartments.  And the rents are dropping......over supplied.   

I'd be sitting back and watching everything in the region unfold.    We've got problems in the Philippines, foriegners are getting out, they're trying to sell.   Thailand is totally up in the air as far as its future is concerned.    The new guy in charge promoted his dog to Admiral of Thailands Navy......WTF. 

With Donald Trump rumoured to be withdrawing support from the East China Sea things could get nasty around here.  When the cats away they mice will play.

I'd be hesitant at the moment in buying .   The timing could be better. 

You've heard Warren Buffett say be fearful when others are greedy, and greedy when others are fearful.  Too many greedy speculators here at the moment.   When everyone's bailing out , that's the time to think about picking up the bargains .

Yogis always thought the best time to buy something of anyone is when the shits running down the backs of their legs.

Deepsix6 wrote:

Yogi!

Slightly off topic but I heard that banks try to cover up repossessions and they apparently  give the owner a chance to sell the property on before they take legal action for the reason that it takes so long through the courts...!

Not off topic.
Buying a house anywhere isn't just about the house in question but also about the conditions in the housing market.
A downturn and/or punters getting into trouble could hit prices, and that's very on topic.

Fred wrote:

Deepsix6 wrote:

Yogi!

Slightly off topic but I heard that banks try to cover up repossessions and they apparently  give the owner a chance to sell the property on before they take legal action for the reason that it takes so long through the courts...!

Not off topic.
Buying a house anywhere isn't just about the house in question but also about the conditions in the housing market.
A downturn and/or punters getting into trouble could hit prices, and that's very on topic.

Greetings Fred, I was talking about my reply being off topic not Yogi's!!

Cheers

Deepsix6 wrote:

Greetings Fred, I was talking about my reply being off topic not Yogi's!!

Cheers

Neither were off topic.

Our smarter than average bear's idea is handy, one that most would be unlikely to think about, and absolutely a good idea for a house hunter.

Your post was about the same . Background information could well make buying less risky.

The forum is all about helping people, and those were very helpful posts.
Thank you.

Kooler42 wrote:

It would seem to be difficult to get the information on the materials used in construction like flooring, tile grout, doors. In addition I have requested the standards used for the construction of the actual highrise building. These are standard questions/request in purchase of homes in the US. Why so difficult?

There is a very simple answer to that, this is not the US and they do things the VN way,lol.

Kooler42 wrote:

It would seem to be difficult to get the information on the materials used in construction like flooring, tile grout, doors. In addition I have requested the standards used for the construction of the actual highrise building. These are standard questions/request in purchase of homes in the US. Why so difficult?

What I have been doing is visiting the companies other completed projects.

I looked at the sales brochure of central park then made the effort to visit the finished Vinhomes Royal city and Times City in Hanoi which was still under construction at the time. Not that impressed with Vinhome projects, they are large scale and densely packed projects than say Novaland but usually come with various vingroup stuff like vin school, vin hospital, vin gym, vin something something....

I wouldn't touch anything built by Phat Dat Real Estate. Back when i first began visiting vietnam they were building the first ever rich project. 10 years later that building needs to be knocked down as it's dangerous. Can't imagine what their other projects are like. The ground floor retail space has been abandoned by Parksons. The building exterior panels are falling off and there are signs outside warning people of falling debris. I'd be pissed off if i had an apartment there.

It has been some time since my original post. We bought in December. We are still dealing with them to get things fixed. If Vinhomes want foreign buyers they need to go to school to learn about Quality....in all aspects. Almost every item had to be fixed or replaced. The materials and craftmenship are very poor to the price paid. There is a large turnover of people working here. Just where is the talent pool?

When everything is fixed I believe it will be a decent places to live.

Debating if I will post the over 60 side power point I have started with all the BS we have been through on Youtube. The inconvienences and time have been unbelievable.

Yes...I know this is Vietnam....

Sorry to hear of your issues your are having. I can see why you are frustrated.
I would be too if i invested alot of money in a place to live.

You are right, it's Vietnam and the way they do things there may not be how the western world would. That said, if you paid a substantial amount towards your home, you should get what you paid for and not unfinished work,

If others are in the same position as you, and if youve formed that group, maybe get together and approach management rather than the guys who don't listen? may not be an easy task there, but worth a try ?

Hope it gets sorted out soon.

Good luck 

tvkk42 wrote:

Does any expat member live here? How do you feel about this place? I'm thinking about buying a 1BD apartment here.

We live there. 3BD, in Park 6 (Smart home building, but not very smart, very buggy in fact).

The quality of the building itself looks good and the design is nice. The park is amazing and we are seeing more and more shops opening around. The vinmec is already quite appreciated.
However, not sure how easy it is to rent it, if this is your purpose (A lot of apartments there).

And at the moment, I don't feel too crowed but at night I can tell that very few apartments are being occupied.
When all will be built (Especially the Landmark 81, with its shopping mall), I believe it will be much more crowded. If this is not an issue for you, then it's a good location and environment.

Also one important point for me (tecky), you can only take VNPT as your ISP. It works okay, but not at the level of Viettel or FPT. And they don't offer some competitive package. Anyway, this is for tecky users. My wife don't see much issue with internet