Tag Archives: Vietnam

6 Reasons Why You Should Invest in Vietnam Property

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Many people contact me and ask for investment advice in Asia. Not rarely, they’re interested in countries like Indonesia and Korea. Sure, Indonesia may have potentials over the long run, but ownership regulations are still not favorable to foreigners.

Korea doesn’t grow compared to many countries in Southeast Asia, unless you plan to stay there for personal reasons, I’d look elsewhere.

One of my favorite countries is undoubtedly Vietnam. I see a lot of potentials in Vietnam, even in the long run. In this article, I present 6 reasons why Vietnam’s property market is becoming increasingly interesting.

1. Eased ownership regulations since 2015

District 1 in Ho Chi Minh City, a quickly developing area

Prior to 2015, it was virtually impossible for foreigners to buy and profit from Vietnam’s real estate market. You were only allowed to own one condo unit, for self dwelling purposes.

However, with the new Law on Residential Housing (LRH) introduced in 2015, it’s become remarkable easier to buy property in Vietnam. Prior to that, people were eagerly standing on the sidelines, waiting for the market to open up.

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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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Buying Property in Vung Tau (Ba Ria): A Foreigner’s Guide

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Despite being in the shadow of Da Nang and Ho Chi Minh City, Vung Tau is the preferable weekend gateway for expats, locals and travelers alike who reside in Southern Vietnam, especially Ho Chi Minh City.

With improved infrastructure and connectivity, you can reach this harmonious island within 2-3 hours. With a long shoreline, there are a number of condos and condotels that pop up here and there, attracting the attention of property buyers.

In this article, I explain the basics you need to know if you’re interested in buying property in Vung Tau.

Can foreigners buy property in Vung Tau?

The same as it goes in other parts of Vietnam, you’re legally allowed to buy and own condo units in your own name. There’s no restriction to the amount of units you can buy, but foreigners can own a maximum 30% of the units in a condo building.

It’s important that you confirm with your agent or developer and assure that the quota hasn’t been filled.

Buying villas is also a popular option, where you can lease the land for a period of up to 50 years, even if the government has talked about increasing the term to 99 years. In general, the regulations to foreign ownership is going in the right direction.

If you buy a villa, 250 can be owned by foreigners in a given ward. This was not the case before 2015, when the Vietnamese relaxed the regulations to foreign ownership.

Why is Vung Tau interesting?

Vung Tau is not a sleepy backwater, but actually a city with hundreds of cafés and restaurants, many decide to settle down here for a long time.

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Getting a Property Loan in Vietnam: The Ultimate Guide

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Vietnam’s property market is hot and massive infrastructural projects are planned in places like Hanoi and Ho Chi Minh City. The new metro lines and other investment help to drive up the property prices, rental yields ranges up to 8%.

Investors sometimes ask me whether it’s possible to receive local financing to buy property in Vietnam. I decided to do more deep research on the topic and to write this article, where I explain how to finance your property in Vietnam as a foreigner. Let’s have a look.

Can foreigners get mortgages in Vietnam?

I’ve done my research and been in contact with local branches, to understand what regulations that apply.

Truth be told, even if the Vietnamese property market opened up since 2015, and I’ve seen a great interest in the market, it’s still not that easy to get a local mortgage, unless you fulfil any of the following criteria:

  • You are married to a Vietnamese spouse
  • You are an Overseas Vietnamese person, sometimes referred to as Viet Kieu
  • You have a residence card. However, these are only valid for 3 years and the loan normally needs to be paid back before expiry

Despite the fact that it’s becoming generally more accepted to use mortgages in Vietnam, it’s not as common compared to the Western world, or other developed Asian countries. Saving or pooling money is a more common option. Things are a bit different in here, maybe you’ve even heard about the past times when Vietnamese paid property with gold.

What financing options do I have as a foreigner?

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Top Property Management Companies in Vietnam: The Ultimate Guide

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Vietnam is one of the most sought after countries when foreign investors look for lucrative opportunities in Asia. With a quickly growing economy and a young population, a lot of interesting things will happen here in the coming decade.

If you decide to buy or rent property a property in Vietnam, you also need to make sure that someone can look after it for you. In this article, I present some of the biggest and most popular property management companies in Vietnam.

Ho Chi Minh City (Saigon)

Below I’ve listed property management companies in Ho Chi Minh City.

Savills

Savills is a well-known global property management company and the leading in the Asia Pacific region. The head office of the company is based in London, UK. It was founded in 1855 which makes it one of the oldest real estate agencies in the world.

The company currently has around 30,000 employees. They have a presence in 60 countries and manage over 700 offices.

In Vietnam, Savills was established in 1995. Their first office and the current head office is based in Ho Chi Minh City. However, in the next few years, they established two more offices in Danang and Hanoi.

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Top Conveyancing Lawyers in Vietnam: The Ultimate Guide

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Vietnam is one of the hottest property market at the moment and everything from individual buyers, to corporations and fund managers want to invest here. But one should be careful and do thorough due diligence before taking any hasty decisions.

A preferred choice should be to hire a local conveyancing lawyer, before getting involved in deals with big transactions. The fact is that things aren’t as transparent and straightforward as you might be used to in developed countries.

Therefore I’ve written this article where I present some of the biggest and most popular conveyancing law firms in Vietnam.

1. Baker & McKenzie Vietnam

Baker & McKenzie is a leading multinational law firm worldwide. It was founded in 1949 in the United States, with its head office situated in Chicago. In terms of revenue, it is ranked as the second biggest law firm in the world, with an annual revenue of USD 2.67 billion.

The company has 77 offices, more than 4,600 attorneys, and around 13,000 employees in globally (including 47 countries). They’ve had a presence in Vietnam for two decades and have two offices, one in Hanoi and one in Ho Chi Minh City.

There are around 45 persons working for the offices and several partners are foreigners, like Frederick R. Burke, an American national who is also a member of the Prime Minister’s Advisory Council for Administrative Reform in Vietnam.

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Top Real Estate Agencies in Da Nang: The Ultimate Guide

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Da Nang is the fourth biggest city in Vietnam, it becomes increasingly popular among foreigners due to various reasons. Some worth mentioning are that Da Nang is generally more developed, it’s cleaner, calmer, has mountains, beaches and simply more attractive if you look for a calmer lifestyle, but still access to diners and bars.

The number of real estate agencies is less and the major companies like Savills, Colliers and CBRE have all set up head offices in the capital, Saigon. Still, you’ll find a handful of real estate agents that have years of experience of helping foreigners.

In this article I list some of the biggest and most popular real estate agencies in Da Nang.

Introductory remark

The real estate agencies are listed in a random order.

1. Savills

Savills is one of the biggest and oldest real estate agencies globally. Originally founded in 1855 and with 30,000 professionals worldwide, the company has managed to establish a strong presence in Vietnam. Their first Vietnam office was opened in 1995 in Ho Chi Minh City.

Savills is also one of the few international agencies that has set up a separate office in Da Nang. The current managing director of Savill’s Da Nang branch is Matthew Powell, he has been residing in Vietnam since 1995 and has a long experience of the local real estate industry.

The company has won a number of awards over the years, for example:

a. Asia Pacific Property Awards – Best Property Consultancy in Vietnam (2015-2018)

b. Asia Pacific Property Awards – Best Real Estate Agency in Vietnam (2014 – 2016)

Property types

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Top Real Estate Agencies in Vietnam: A Complete Guide

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Do you plan to buy property in Vietnam?
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Vietnam has opened up since 2015 and grows with a rapid pace, this has resulted in many foreigners looking for investment opportunities in the country. The market is not as mature compared to Thailand’s whatsoever, which gives you less options when looking for a local real estate agency.

Finding a credible solicitor and real estate agency is crucial to reduce the risks of coming across any pitfalls later. In this article, I list some of the biggest real estate agencies in Vietnam.

Introductory remark

The real estate agencies are listed in a random order.

1. Colliers International Vietnam

Colliers International is one of the biggest real estate agencies in the world. It has more than 15,000 people with an annual revenue of around USD 2.6 billion. The company is based in in Seattle, Washington, but also have offices in 69 countries including Vietnam.

Founded in 1898 in Canada as a small agency, it became a global name and shifted to the United States in 1976 after a merger of three real estate agencies to form Colliers International.

Colliers International owns two subsidiaries in Vietnam:

  • Colliers International Vietnam
  • Colliers Home

The first one was founded in 1996 while the latter one was founded in 2016.

The head office of Colliers International Vietnam is based in Ho Chi Minh City, but in 2008, they also opened an office in Hanoi.

Property types and areas in Vietnam

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Top 10 Property Developers in Vietnam: A Complete Guide

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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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Why You Should Contact a Solicitor Before Buying Property in Asia

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You’ve signed the contract and transferred the down payment. Your agent insists that all is well, and you can move in next week.

Only to find out that foreigners are not even allowed to buy that type of property.

These things happen, and overseas property buyers find themselves in hot water all the time – often as a result of working with the wrong local partner.

In this article, you will learn why you should not go directly to a local real estate agent when buying property in Vietnam, Cambodia, the Philippines or other developing countries in Asia – but to a law firm that can navigate you through a risky and complex process. Continue Reading →

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