Buying Off-Plan Property in Vietnam: A Foreign Buyer’s Guide

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Vietnam’s real estate market opened in 2015 as restrictions were lifted on foreign ownership.

A decade or two back, you could barely find new highrise condominiums as few foreigners were living in the country and developers eyed opportunities elsewhere.

Regulations have become significantly more relaxed and you can invest in real estate if you’re allowed to enter the country. There’s no regulation on the number of condo units you can buy as well.

With that said, the buying process differs much from what many people are used to at home. In this article, I explain how it works when buying off-plan properties in Vietnam.

Topics covered:

  • What is an off-plan property?
  • Buying Process for Off-Plan Property in Vietnam
  • Payment in Instalments
  • Receiving a Delegation Letter
  • The Differences of Buying From Vietnamese and International Developers
  • Opening a Bank Account

What is an off-plan property?

Off-plan and pre-construction properties are properties or pieces of land that are not yet developed or with any structures.

By selling units as construction commence, the developer can secure funding and proceed to the next stage of the development.

Buyers, on the other hand, can purchase units at lower prices as the value will increase as the construction commence and the surrounding areas develop.

Novice investors can even make great profits by procuring and selling units before construction has started.

Of course, there might be risks of investing in off-plan properties as well. The market might drop, the final result be different from your expectations, or the developer might not be able to finalize the project.

In such scenarios, other developers can take on and finalize the project, if they are willing to.

Buying Process for Off-Plan Property in Vietnam

Below I’ve included the step-by-step process that foreign buyers adhere to when booking and paying for an off-plan property in Vietnam. Continue reading Buying Off-Plan Property in Vietnam: A Foreign Buyer’s Guide

Top 7 Property Developers in Korea: A Complete Guide

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Kore has a developed and large-sized real estate market that is well-known for struggling with ever-increasing prices, a reason why the government has informed new measures to curb investments.

With that said, there aren’t that many foreign property developers operating in Korea, you can mainly find a handful of big local companies that control the market.

Many foreigners ask what the biggest and most popular real estate developers are in Korea, therefore I’ve written this article where I list the most renowned brands.

1. Dongbu Corporation

Established in 1969, Dongbu Corporation is one of the oldest and most recognized property developers in Korea. It’s part of one of the country’s biggest conglomerates, the Dongbu Group.

The company has several subsidiaries working in real estate, manufacturing, shipping, insurance, chemical industry, and finance. Some include DB Insurance (Forbes 2000 Company), DB Savings Bank, DB Hitek, and DB Capital.

Dongbu Corporation was founded by Junki Kim as Miryung Engineering & Construction but later changed its name to the Dongbu Corporation in 1989. The head office is based in Seoul. Continue reading Top 7 Property Developers in Korea: A Complete Guide

Frasers Property Projects in Ho Chi Minh City 2021

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It’s well-known that Vietnam attracts many Singaporean developers who do their utmost to grab a share of this quickly growing market.

Frasers Property is one of the biggest property developers in Singapore that has finalized one commercial project in Ho Chi Minh City and is in the process of finalizing one of the most bespoke condominium projects in Thao Dien, District 2.

In this article, we review the projects, what makes them unique, the facilities and amenities, unit types, how much you have to pay, and more. Let’s get started.

Overview:

Locations of the projects

1. Q2 Thao Dien

Q2 Thao Dien is located in the expat-friendly neighborhood of Thao Dien, District 2, and a stone’s throw away from other well-known projects like Masteri, Estella Heights, The Nassim, and The Vista.

The project is built by a local and a Singaporean investor, An Duong Thao Dien (Vietnam) and Frasers Centrepoint (Singapore). The construction started in 2017 and is set to be finalized in 2021.

In addition to 333 apartments, Q2 Thao Dien will have 6 villas, 12 townhouses, and 5 penthouses. It has a panoramic view of the Saigon River and many amenities in the area, including shopping malls, international schools, restaurants, and bars.

Another benefit of buying a unit here is that Q2 Thao Dien will be located just next to the future An Phu Metro Station on the 1st Metro line in Ho Chi Minh City. Analysts claim that real estate in the eastern parts of Saigon near the metro line is likely to increase from 10% – 20%.

Distance to other districts and cities:

  • 15 minutes to move to District 1, Thu Thiem Urban Area
  • 30 minutes to move to District 7, Tan Son Nhat Airport
  • 45 minutes to Bien Hoa
  • 30 minutes to Binh Duong
  • 1 hour and 15 minutes to Vung Tau
  • 1 hour 30 minutes to Dau Giay

Continue reading Frasers Property Projects in Ho Chi Minh City 2021

Sun Group Projects in Vietnam 2021

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Many foreigners are not as familiar with Sun Group compared to other big property developers in Vietnam, including Vinhomes and Novaland. With that said, Sun Group has many well-known projects under its name.

A difference between Sun Group and other developers is that they build both residential property, infrastructure developments (like bridges), and branded hotels.

In this article, we list Sun Group’s projects in Vietnam and explain what makes each project unique. Let’s start with one of its bespoke and high-end apartment projects.

1. Sun Grand City Thuy Khue Residence

Sun Grand City Thuy Khue Residence is a premium condominium project with a large shopping center complex. Finalized in 2018, the project is merely 100 meters away from West Lake, offering a tranquil environment.

Residents can enjoy many green areas and vegetation as 45% of the total area is dedicated to green landscape, square, and different amenities. The project has high-end apartments built in a modern design and with contemporary furniture.

Continue reading Sun Group Projects in Vietnam 2021

Keppel Land Projects in Ho Chi Minh City 2021

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Ho Chi Minh City is well-known for being the home to several leading Singaporean developers who fight head-to-head, trying to grasp market shares. Keppel Land is undoubtedly one of the leading developers in Ho Chi Minh, you can even find their logo at the top of the Saigon Centre, right in the city center.

Keppel Land is also in the process of building a massive mixed-use project that is set to become the new financial center of Ho Chi Minh, something that I will explain more about later in this article. Today, we review Keppel Land’s projects that are finalized, under construction, or planned for the future in Ho Chi Minh.

Overview:

Locations of Keppel Land’s projects in Ho Chi Minh

1. Palm City

Palm City is an integrated waterfront development located in District 2. The project comprises 12 blocks, including Palm Residence: 135 landed houses (Phase 1), Palm Heights: 816 apartment units (Phase 2), and Palm Garden: 617 apartment units (Phase 3).

Covering 30.2 hectares, it has a strategic location at Giong Ong To and Muong Kinh rivers and just a 15-minute drive from the central business district in District 1. Besides, residents will be only a 5-minute drive away from the Thu Thiem New Urban Area, the new financial district of Ho Chi Minh.

In addition to residential units, you can find shop houses, commercial buildings, a shopping center, school, kindergarten, and hospital here. Continue reading Keppel Land Projects in Ho Chi Minh City 2021

Mapletree Projects in Vietnam 2021

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Vietnam might not be the biggest market for Mapletree, with that said, it’s a leading Singapore-based developer that operates in dozens of countries. Since it entered the market, Mapletree has primarily built commercial projects in Vietnam, such as office space, business centers, and warehouses.

But, you’ll also be able to find a handful of residential and mixed-use projects built by the company.

In this article, we review Mapletree’s projects in Ho Chi Minh, Hanoi, Bac Ninh, and Binh Duong. Keep in mind that the two latter ones are industrial cities so all of the projects there are commercial.

Mapletree Projects in Ho Chi Minh

Locations of the projects listed

1. One Verandah

One Verandah was completed in District 2 in 2018 and has become one of the most popular and bespoke projects in Ho Chi Minh. In 2018, One Verandah one several rewards at the PropertyGuru Vietnam Property Awards, including:

  • Best High-End Condo Architectural Design
  • Best High-End Condo Landscape Architectural Design

The project has a modern design with many green areas in the surroundings. Thu Thiem, the new financial district, is located a short drive away. Residents and investors can enjoy high yields and plenty of facilities and amenities, including a BBQ pavilion, gym, tennis court, library, swimming pool, and more.

Completion: 2018

Address: Thanh My Loi Ward, District 2, Ho Chi Minh City, Vietnam

Continue reading Mapletree Projects in Vietnam 2021

Vinhomes Projects in Vietnam 2021

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Vinhomes is a subsidiary of the large conglomerate, Vingroup, and one of the biggest commercial real estate developers in Vietnam. Since its inception, Vinhomes has become a publicly listed company and builds projects in 40 cities all over Vietnam.

As Vinhomes has built projects in so many cities, it would be difficult to cover them all in this article. Therefore, we have limited the selection to the three most popular cities for foreign property buyers in Vietnam: Ho Chi Minh City, Hanoi, and Da Nang.

Vinhomes Projects in Ho Chi Minh

Location of Vinhomes projects in Ho Chi Minh

1. Vinhomes Central Park

Vinhomes Central Park is one of Ho Chi Minh City’s most famous condominium projects and finalized in 2017. The project has 18 blocks, 10,000 condominium units, and 80 villas, located along Saigon River in Binh Thanh District. The condo units are modern and bright with balconies, new appliances, and suitable for families and couples.

Residents have access to a large park with jogging tracks, BBQ pits, ponds, and more. Besides, there are plenty of restaurants, barbershops, supermarkets, and cafes in the area. You can also find Southeast Asia’s tallest skyscraper in the project next to the project, Landmark 81, stretching 461 meters.

Completion: 2017

Continue reading Vinhomes Projects in Vietnam 2021

Meridian’s Expansion in Phnom Penh: A Complete Overview

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Meridian International Holding is an international corporation established more than 3 decades ago. The group started from a base in textiles and garments but has diversified its business through property development and investment.

In the past years, Meridian has invested hundreds of millions of dollars in a handful of high-end projects in Phnom Penh. Today, the CEO of Meridian International Holdings in Cambodia, Mr. Ko Sek Yan, will explain more about the projects, unit prices, yields, and buying process.

1) What makes Phnom Penh interesting for property investors?

First of all, Phnom Penh is located in the Central South Peninsula, bordering to the West and Northwest of Thailand, Northeast of Laos, East and Southeast of Vietnam, and facing the Gulf of Siam in the South.

One Belt One Road Initiative” (OBOR) is one of the key geopolitical and strategic developments shaping the world today. Touted as the 21st century Maritime Silk Road, OBOR aims to connect the eastern part of China’s coastal cities with Europe via the Indian Ocean and South China Sea. Continue reading Meridian’s Expansion in Phnom Penh: A Complete Overview

Novaland Projects in Ho Chi Minh City 2021

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Novaland is one of the biggest companies in Vietnam and has expanded aggressively in Ho Chi Minh in the past years. In February 2019, Bloomberg reported that as many as 25% of all sold residential projects were built by Novaland.

Up until now, this major developer has primarily built projects in Ho Chi Minh. In this article, we list all Novaland’s projects that are under construction or finalized in the city.

We start and review projects that are under construction or planned for the future. After, we check Novaland’s completed projects. Continue reading Novaland Projects in Ho Chi Minh City 2021

CapitaLand Projects in Vietnam 2021

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CapitaLand is a renowned property developer in Singapore and entered Vietnam as early as 1994. It was one of the first foreign developers in the country and has built up a strong local presence.

Even if CapitaLand is based in Singapore, they primarily build residential, mixed-use, and commercial projects in other Asian countries, such as China and Vietnam. The company is famous for its high-quality and modern developments, priced in the medium to the high segment.

In this article, we list CapitaLand’s residential projects that are finalized, under construction, or planned for the future in Vietnam.

CapitaLand Projects in Ho Chi Minh

Locations of CapitaLand’s projects in Ho Chi Minh

1. Feliz en Vista

Feliz en Vista is a large project with 4 blocks, 1,200 units, and more than 100 facilities. It’s strategically located in District 2 with just a 5-minute drive to the new financial district, Thu Thiem. Also, it’s only a 7-minute drive to District 7, one of the most developed and expat-dense areas. Continue reading CapitaLand Projects in Vietnam 2021