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

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According to the Law on Housing, which took effect from 2014 foreign individuals are eligible for ownership if they are allowed to enter Vietnam. You only need a tourist visa to buy, it’s simple as that.

As you can see, Vietnam’s property market opened up very recently. This in combination with the country’s rapid economic growth makes Vietnam one of the top spots for foreign investors. You can buy, rent, receive or inherit ‘commercial’ housing, including condos and detached houses in projects of housing construction.

However, before you buy, it’s important that you study the buying process and payment schemes well in advance, as these might differ quite much compared to home. Therefore, I’ve written this guide where I explain the following:

  • Process when buying off-plan
  • Information about payment instalments
  • Other useful information

Process when buying off-plan property in Vietnam

Below I’ve included a step-by-step guide when booking and paying for an off-plan property in Vietnam.

1. Get in touch with a real estate agent

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Top 10 Property Developers in Dubai: A Complete Guide

dubai-developers-1

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In 2006, almost 25% of all cranes in the world were located in Dubai for constructing purposes. There’s been a property boom since the government introduced new property legislations in 2002, which favoured foreigners in a remarkably better way.

Dubai is the commercial center in the Middle East and it’s said that only 15% of its population are emirates, while the remaining 85% are foreigners.

Buying off-plan is a preferable choice for many investors, a reason why I’ve written this guide where you’ll learn more about some of the biggest and most popular real estate developers in Dubai. Let’s have a look.

Introductory remark

The developers are listed in a random order.

1. Deyaar

Founded in 2002, Deyaar emerged as one of the leading regional property development companies in the last decade. Deyaar offers its services under four different business units that include:

  • Property development
  • Property management
  • Facilities management
  • Owner’s association management

In the beginning, Deyaar was working as the property management unit of Dubai Islamic Bank, but as the company expanded, it later became an independent private company.

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Buying Under-Construction Property in Malaysia: A Complete Guide

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Under-construction and off-plan property are preferred choices when foreigners decide to invest in real estate in Southeast Asia. There are both benefits and drawbacks when going for this option, the buying process is also somewhat different.

I often receive questions related to the buying process, financing, payment schedules and taxes for these kind of properties, but it can be difficult to find summarized information about these items. In this article you will learn the following for under-construction property:

  • The buying process
  • Financing
  • Payment schedule
  • Legal fees and stamp duty
  • Procedure of the SPA (Sales and Purchase Agreement)

Buying process for under-construction property

a. First of all, you need to find a handful of properties, shortlist them and choose a property

b. You pay a booking fee to enter into the buying process. There is no fixed amount, as the booking fee is decided by the developer. Generally, it’s 2% of
the purchasing price but can be any other amount

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Top 7 Property Developers in Cambodia: The Ultimate Guide

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Many foreign residential property buyers decide to go for off-plan properties when investing in Cambodia. There are also a number of foreign companies who actively work to improve the infrastructure and develop new properties.

Either way, a property developer is normally involved and many people wonder which the biggest and most reputable developers in Cambodia are. It’s not strange that people perform due diligence in this emerging market, where there’s many pitfalls to come across.

Therefore, I’ve written this article where I summarize some of the biggest and most well-known developers in Cambodia.

Introductory remark

The developers are listed in a random order.

1. Borey Peng Huoth Group

Borey Peng Huoth Group is one of the leading and biggest property developers in Cambodia. Founded in 2005, it soon becomes the prominent property developer in the country due to its large scale residential projects.

The Group consists of three subsidiaries, all working in real estate sector. The three companies working under the umbrella of the Borey Peng Huoth Group are
Borey Peng Huoth Construction, Borey Peng Huoth Property Development, and Borey Peng Huoth Shopping Mall.

They’ve sold around 10,000 houses by 2017. The CEO of the group is Mr. Siv Meng. You can also read his recent interview about current and future projects and goals of the Borey Peng Huoth Group here.

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Top 6 Property Developers in Korea: A Complete Guide

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Korea doesn’t receive as much attention as other Asian countries when it comes to investing in property. You’ll also find a limited amount of developers who operate in the country, in comparison with Singapore for example.

Still, some individual buyers and corporations want to know more about the biggest developers, when buying off-plan property, for example. There’s a limited amount of information about Korean developers, and you rarely find it summarized. Therefore, I’ve written this article where I list some of the biggest developers in Korea.

Let’s have a look.

Introductory remark

The companies are listed in a random order.

1. Dongbu Corporation

Established in 1969, Dongbu Corporation is one of the oldest and well-recognized property developers in Korea. Dongbu Corporation is part of one of the biggest conglomerates in Korea, the DB Group, also known as Dongbu Group.

It has several subsidiaries working in real estate, manufacturing industry, shipping, insurance, chemical industry, and financial products. Some of its subsidiaries are 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 name to the Dongbu Corporation in 1989. The head office of Dongbu Corporation is based in Seoul, Korea. Even though they’re based in Korea, but they’ve developed several infrastructure projects in other parts of the world as well.

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Top 10 Property Developers in New Zealand: A Complete Guide

property-developers-new-zealand

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New Zealand has attracted many foreigners, especially Chinese, who wish to have a safe haven in the future. Property prices have increased much over the years, forcing the government to introduce cooling measures.

Not surprisingly, a preferred option is to buy off-plan, giving you the opportunity to design and move into a brand new property. Therefore, I decided to write an article about the top developers in New Zealand.

Let’s have a look.

1. Conrad Properties

Conrad Properties Group is one of the biggest property developers and investment companies in New Zealand. Cornard Properties is also known as the largest apartment developer as they mostly develop medium and high-rise apartment buildings.

Cornard Properties was founded in 1994 with its head office situated in Auckland. It also has regional offices in Sydney, Singapore, and Hong Kong. They develop properties outside of New Zealand, mainly in Australia, but also in Canada, Bermuda, China and Singapore.

Property types

Almost all of their projects are high-rise apartment buildings. Although one of their first projects, G Urban Work Spaces, was mixed-use project but after that, they’ve only developed residential apartment buildings.

Current projects

  • Queens Residences
  • The Ivory Epsom
  • Urba Residences
  • The Vincent
  • Soho Apartments

Future projects

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Top 10 Property Developers in Vietnam: A Complete Guide

property-developers-vietnam

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Vietnam is growing with a rapid pace and has opened up to foreign investors since 2015.

The same as it goes in other Asian countries, most foreigners, expats and locals with some spare cash prefer to buy off-plan or new properties, especially in places like Saigon, Da Nang or Hanoi.

In this article, I’ve listed some of the most notable and reputable property developers operating in Vietnam.

1. Dat Xanh Group

Founded in 2003, Dat Xanh Group is headquartered in Ho Chi Minh City, a company that’s been ranked as one of the best developers in Vietnam.

The company owns one of the largest real estate companies in Vietnam, the Dat Xanh Real Estate Service & Consultation JSC. They develop both residential and commercial projects, and offer other real estate services like distribution of properties, brokerage and real estate consultancy services.

Property types

You can buy a number of different property types, including apartments, housing projects (townhouses), land and villas. In addition to residential projects, Dat Xanh Group also develops commercial, office, and leisure properties.

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Top 10 Property Developers in China: A Complete Guide

property-developers-china

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China is one of the fastest growing countries in the world and has developed rapidly the past decade. The real estate market has also increased immensely, bringing wealth to locals who decided to invest early.

If you’re a foreigner and plan to buy property in China, you might want to buy off-plan or a new unit directly from a developer. Or maybe it’s just good to know more about the developer who built that newly finished building.

In this article, I list the biggest property developers in China.

1. Vanke

Founded in 1984, Vanke is one of the largest property developers in China with its head office located in Shenzhen, China. Worth mentioning is that Vanke is also included in the 2017 “Fortune Global 500” companies.

In addition to building 1800 residential projects in more than 60 Chinese cities in the last three decades, it’s engaged in different residential and commercial projects in Malaysia, UK, the United States and Hong Kong.

Vanke has been ranked as one of the top three property developers for a number of consecutive years, with tens of billions of dollars in earnings each year, proving that it’s a big player in the industry.

Property types

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Top 10 Property Developers in Japan: A Complete Guide

property-developers-japan

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Japan has a long economic history and is famous for doing things “the right way”.

Not surprisingly, there are a number of real estate developers that build different kinds of property, not only in Japan, but also overseas.

In this article, I list the biggest and most reputable property developers in Japan.

1. Mori Trust

Mori Trust Co., Ltd. is a leading Japanese real estate developer, headed by Akira Mori, the 7th richest person in Japan. The company was founded in 1970 with a base in Tokyo and is one of the oldest property developers in the country.

It was formerly known as Mori Building Development Co., Ltd but changed name to Mori Trust in 1999. The company owns a multiple number of subsidiaries, including Mori Trust Hotels & Resorts.

Mori Trust is also developing office buildings in the United States.

Property types

They build residential projects, office buildings, apartments, condominiums, hotels, resorts, and retail projects. However, they’re best known for their high-rise condominium residential projects.

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Top 10 Property Developers in Indonesia: A Complete Guide

property-developers-indonesia

Do you plan to buy property in Indonesia?
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Even if Asians and expats prefer to buy new property in Southeast Asia, Indonesia is one of a few countries where you have no option than to buy directly from developers.

In this article, I list the biggest property developers in Indonesia, many of them with headquarters in Jakarta:

  • Agung Podomoro Land Tbd Pt
  • Lippo Group
  • Sinas Mas Land
  • Agung Sedayu Group
  • RDTX Group
  • Ciputra Group
  • Duta Anggada Realty Tbk PT
  • Permata Birama Sakti PT
  • PP Properti PT
  • Tokyu Land Indonesia PT

1. Agung Podomoro Land Tbk PT

Founded by Anton Haliman in 1969, Agung Podomoro Group is one of the top developers in Indonesia, known for building large scale projects. It’s property arm APLP is a relatively new subsidiary founded in 2004, but has already won several awards in the last few years, including the best developer in 2017 by BCI.

So far, they’ve completed more than 70 residential projects.

Property types

APLN develop mostly residential projects including townships, large scale villages, integrated development projects and high-rise apartments. They’ve also developed a few industrial parks along with other commercial, retail and leisure properties.

Current projects

  • Orchard Park
  • Podomoro Golf
  • Metro Park Residence
  • Makassar Project
  • Borneo Bay Residence
  • Future projects
  • Pluit City
  • SOHO City
  • Harco Glodok
  • Plaza Kenari Mas
  • Vimala Hills

Prices & Areas

a. The price of a house in the Podomoro City ranges from around USD 1.5 – 2 million

b. The price of a 630 square meter house in Kuningan City is around USD 3 million

2. Lippo Group

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