Property investment in Vung Tau

Porkypig wrote:

Hi everyone,

I currently live in HCMC but I like the ocean and beaches, I want to move to somewhere near the ocean with easy access from HCMC, and all I can think of is Vung Tau.

Perhaps some of you expat living in Vung Tau can advise where is a good location to buy a property.

Here are some of criteria on my wish list;
1. Land on high ground with good ocean view
2. Within 20mins drive from downtown center
3. Location that is easy to rent out to tourists as I plan to live there only 6 months in a year and I want to rent it out when I live in HCMC the other 1/2 of the year.
4. Willing to knock-down and rebuilt the property if location is perfect.

I hold Vietnamese passport, so land purchase isn't an issue here.

Anything high with a view is going to cost big dollars, what are you wanting to spend?

I have a budget in mind but prefer not to disclose it publicly, I'm more interested in a free standing house than high-rise apartment due to its potential. I own a free standing house in HCMC and I knows the usual issues with house purchases. Nice if someone can also tell me if there is any difference between purchasing houses in HCMC as compare to purchasing in Vung Tau.

Porkypig wrote:

I have a budget in mind but prefer not to disclose it publicly, I'm more interested in a free standing house than high-rise apartment due to its potential. I own a free standing house in HCMC and I knows the usual issues with house purchases. Nice if someone can also tell me if there is any difference between purchasing houses in HCMC as compare to purchasing in Vung Tau.

Why not say, nobody on here knows you. I could give you a better idea knowing your budget, you may get a shock at the prices here.

Just took a look online, 200 sqmts of vacant land with full ocean view 15 billion in Tran Phu.

That price doesn't sound like good value to me but not exactly shocking, given the fact the seller always believe they are sitting on a pot of gold and wants price as high as possible.

I like some advise on an established homes, between 80-120m2 land, doesn't matter if it is old and in a run-down condition. A full knock-down and rebuilt should costs only 1-2 billions. The expensive portion is the land and location.

Porkypig wrote:

...A full knock-down and rebuilt should costs only...

That one word--"should"--is an indicator that, although you say you are looking for advice/guidance, you already have your own opinion about what you "should" be able to find and how things are "supposed" to be.

Are you here to learn or instruct?

We recently had a "teacher" from Thailand try to teach us why anyone who invests in Việt Nam real estate is an idiot.

Some very smart people in Vũng Tàu will be happy to tell you what they know.

They probably won't be looking for an argument.

I do hope you have a successful search.

Everyone is entitled to their opinions, but yours is rather un-constructive. I'm here looking for real advise, from wisemen who perhaps are experts in their fields or have real life experience they like to share. Please do bear in mind not all people who seek advise are Idiots, some know exactly what they are looking for, and for those who have no idea what they are talking about, please feel free to skip to the next tread.

Well, I'm by no means an expert in real estate, but as a resident of Vung Tau what I see is extreme over-development that seems to be leading to:

1) over-supply

2) degradation

However, I have heard that renting out a large house or villa to families/large groups of weekenders can be profitable since that type of accommodation is somewhat limited as opposed to all of the condos and hotels being built.

I do think that Vung Tau will become a less and less attractive area soon though as that seems to be the general trend already.

TBH, best to contact an agent. I have a friend who is an agent, but without an idea of how much you want to spend, it's a waste of time.

colinoscapee wrote:

Just took a look online, 200 sqmts of vacant land with full ocean view 15 billion in Tran Phu.

Porkypig wrote:

That price doesn't sound like good value to me but not exactly shocking, given the fact the seller always believe they are sitting on a pot of gold and wants price as high as possible.

I like some advise on an established homes, between 80-120m2 land, doesn't matter if it is old and in a run-down condition. A full knock-down and rebuilt should costs only 1-2 billions. The expensive portion is the land and location.

The price Colin saw is not bad at all when it comes with full ocean view. Some parts of Tran Phu is Instagram worthy.

If you think that's not a good value, you'll have difficulty finding a property that fits your requirements.  It's not that sellers "believe they're sitting on a pot of gold", it's simply that properties in VT are not cheap. 

The house next door to us (on the street, not a hẻm) is 110m2 and was sold for 15B about 3 months ago.  The new owner knocked it down to the foundation and has been building 3 stories plus ground floor out of that rubbles.  This location (on what is termed an expats street) is 8 minute walk to the beach but with full view of the Lighthouse, not the ocean.  So, whatever the construction cost plus 15B is the value of the property. 

The land on which our building sits is also 110m2, 5 stories plus ground floor and full basement, not quite 7 years old, doesn't need any repair or alteration now or for the next couple decades because it's built to last a lifetime through fire, hurricane, and any other natural disaster.  Before Covid, the owners halfheartedly said they were thinking of selling for 20B or 21B completely furnished, offers came in left and right, some were only slightly short of that amount.