Property valuation in Vietnam: A Guide for Foreign Buyers

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This article is a part of the Real Estate 101 series by Homebase, a leading PropTech company that provides a more flexible alternative to mortgages for foreigners in Vietnam, and is co-created with their team.

In recent years, the Vietnamese real estate market has grown rapidly and attracted foreign investment. Transactions are in the millions of dollars per unit, making Vietnam an appealing place to live and invest.

As a potential property buyer, it’s important that you can recognize a good deal when you see one. An important question to ask, though: What are the most useful property valuation methods in the market?

As you browse property listings, you’ll encounter many shapes and sizes with potentially varied prices. By using the methods we recommend in this article, you can better estimate the value of these assets and have a higher chance for a good deal.

Today, we review what real estate evaluation is and explain seven core methods when evaluating properties.

What is real estate valuation?

In short, real estate valuation is the gathering, analysis, and assessment of information and data to evaluate the worth of real estate. Continue reading Property valuation in Vietnam: A Guide for Foreign Buyers

Vietnam Real Estate Market Outlook 2022: A Complete Overview

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Do you plan to buy property in Vietnam?
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Vietnam opened up to foreign property investors as late as 2015 and has experienced fast growth since. Buyers from Hong Kong, Mainland China, Singapore, and Korea in particular, see Vietnam as a lucrative market with high ROIs.

Unfortunately, the market was hit by the COVID-19 pandemic in 2020 and 2021, we saw prices and rents fall by double digits.

Many investors are eager to understand what the predictions are for the market in 2022. As borders start to open, real estate buyers can resume traveling and visit Vietnam, which is crucial.

In this article, we explain how the market has performed in previous years and our predictions for 2022.

Topics covered:

Vietnam’s Real Estate Market in Previous Years

Vietnam’s property market has emerged as one of the fastest-growing in Southeast Asia. Suffering from a housing bust in 2009, the market recovered in 2013 and has seen constant and fast growth since.

The reasons why investors have opened their eyes to Vietnam’s property market are:

Continue reading Vietnam Real Estate Market Outlook 2022: A Complete Overview

How to Get a Property Loan in Vietnam: Foreign Buyer’s Guide

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Do you plan to buy property in Vietnam?
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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 investments help to drive up the property prices, rental yields can range up to double digits.

Investors sometimes ask me whether it’s possible to receive local financing to buy property in Vietnam.

I decided to do more research and write this article, where I explain how to finance your property in Vietnam as a foreigner.

In short, it’s difficult to own property in Vietnam and impossible to own land without Vietnamese citizenship.

But here’s the good news: Even when foreign ownership is not favored, you can still get property financing through several emerging real estate companies that offer a better alternative.

There are several alternatives to home financing in Southeast Asia that provide a different route to loans and financing at the moment. Perhaps the market leader is Homebase, a leading Southeast Asia Proptech company that offers services in Vietnam. Continue reading How to Get a Property Loan in Vietnam: Foreign Buyer’s Guide

How to Buy Property in Nha Trang: A Complete Guide

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Many foreigners buy condominium units or villas for retirement or holiday purposes in Nha Trang.

Compared to Da Nang, the city relies heavily on tourism and doesn’t have as much commercial activity as Ho Chi Minh, Hanoi, and Hai Phuong.

Its relaxed vibe, tasty seafood, and low real estate prices make Nha Trang one of the prime options for real estate buyers. Before you buy real estate here, you must get your feet first though.

In this article, we review some of the most important topics for foreign real estate buyers.

Topics covered:

  • Nha Trang as a Tourist Destination
  • Buying Villas in Nha Trang
  • Buying a Condo in Nha Trang
  • Realtors in Nha Trang

Nha Trang as a Tourist Destination

Nha Trang is slightly smaller than Da Nang and the 6th biggest city in Vietnam with a population of around 600,000. Being located between Ho Chi Minh and Da Nang has other major cities just around the corner. Continue reading How to Buy Property in Nha Trang: A Complete Guide

Top 8 Furniture Stores in Hanoi: An Overview

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Finding furniture stores that suit foreigners’ tastes is not an easy task for real estate buyers in Hanoi.

While Vietnam is a large producer of wooden products and furniture, the Vietnamese have traditionally gone to individual furniture stores, markets, or turned to local brands.

With that said, there are a handful of international stores available in Hanoi, and that primarily comes from Denmark.

It’s not strange, as increasingly more locals and foreigners look for products with a modern touch and simplistic style.

In this article, we list the top furniture stores in Hanoi, explaining their history, what products they offer, and their addresses.

1. BoConcept

BoConcept is a premium Danish furniture company that offers modern and unique products with a Scandinavian design. Continue reading Top 8 Furniture Stores in Hanoi: An Overview

Top 8 Furniture Stores in Ho Chi Minh City

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Vietnam might be a big producer of furniture, but foreign property buyers often spend much time trying to find stores for the furnishing of apartments.

While IKEA has sourcing operations in the country, it doesn’t have any retail stores here yet. This leaves many foreign property investors with the only option to visit multiple furniture stores.

Of course, some people seek more premium and unique products than IKEA too.

In this article, I list some of the top furniture stores in Ho Chi Minh City. Worth mentioning is that many of the brands have stores in Hanoi as well.

1. BoConcept

BoConcept is a Danish brand providing modern furniture with a Scandinavian design and minimalist features. Continue reading Top 8 Furniture Stores in Ho Chi Minh City

Vietnam Property Booking Fee: An Overview

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Local and international property developers have entered Vietnam in large numbers, building condominium and villa projects.

The units are often off-the-plan or under construction, resulting in a different purchasing process from resale units.

The first step in the purchasing process of new units is to pay the booking fee. In this article, I cover the topics you need to know about the fee.

Topics covered:

  • What is a property booking fee?
  • Is the property booking fee refundable?
  • Property Types Requiring Booking Fees
  • How much is the property booking fee in Vietnam?
  • How can I pay the property booking fee?

What is a property booking fee?

Potential property buyers pay a so-called property booking fee for units in off-plan and under-construction projects.

Developers charge the fees in branded condominium and villa projects where there are a large number of units available. Continue reading Vietnam Property Booking Fee: An Overview

Top 10 Real Estate Agencies in Vietnam

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Vietnam opened up to foreign real estate investors as late as 2015 and the market has flourished since.

Most multinationals can be found here, helping local and foreign companies with leasing, appraisal, and investment services, for example.

Having said that, some of the companies focus primarily on market research and consultancy, leaving individual property buyers on the sideline.

In this article, I list some of the top real estate agencies in Vietnam, focusing on Ho Chi Minh City, Hanoi, and Da Nang.

1. Colliers International Vietnam

Colliers International is one of the biggest real estate agencies globally with more than 15,000 professionals. Its yearly revenues reach around USD 2.6 billion.

The company is based in Seattle, Washington, but also has offices in 69 countries including Vietnam. Continue reading Top 10 Real Estate Agencies in Vietnam

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

How to Buy Industrial Real Estate in Vietnam: Foreign Investor’s Guide

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Vietnam captures many headlines as it’s becoming increasingly popular for foreign manufacturing companies. However, A prevailing issue is that many foreigners are unaware of ownership regulations and the industrial property market in general.

Due to the limited information available, there’s a general lack of knowledge that is much required before a market entry. In this article, I explain how you can invest in industrial real estate and warehouses in Vietnam.

Topics covered:

  • Can foreigners buy industrial real estate in Vietnam?
  • Vietnam’s Industrial Property Market
  • Vietnam Free Trade Agreements
  • Industrial Clusters in Vietnam
  • How can I find industrial buildings for sale?
  • Taxes

Can foreigners buy industrial real estate in Vietnam?

Vietnam has strict property ownership regulations compared to neighboring countries like Thailand, Cambodia, and the Philippines. Continue reading How to Buy Industrial Real Estate in Vietnam: Foreign Investor’s Guide