Vietnam Real Estate just REACHED BOTTOM! (Think AGAIN before buying!)
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- เผยแพร่เมื่อ 31 พ.ค. 2024
- Vietnam Real Estate just REACHED BOTTOM! (Think AGAIN before buying!). Is it safe now for foreign investors to invest in real estate in Vietnam in 2024 or they should save their money and renting? Let's join lawyer Ken Duong as he will discuss in detail the current situation in Vietnam real estate, how to buy real estate in Vietnam as well as the new land law that will impact Viet Kieus in 2025. Let's get started!
00:00 Should you buy in this market high in FRAUD?
01:30 The Next Goal
02:13 92% decline in Vietnam real estate?
03:00 Real estate in Vietnam outlook
05:07 Housing TREND
05:58 Vietnam is NOT THE Market for YOU!
06:29 Particularities of Vietnam Land Ownership
07:51 2 Certificates that YOU NEED TO Know
10:06 There are NO Limits For Foreign Investors
11:03 How to Buy Property in Vietnam
13:52 Choosing the RIGHT Real Estate Agency
15:08 Hassle-Free Process
18:51 Property Tax in Vietnam
19:40 The NEW Land Law in 2025
22:18 Lawyer Ken Duong's opinion
23:53 The Verdict
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I was there last summer, and there were tons of very large developments that were completely empty. Hard to imagine they don't have a long way to go before bottoming out. Phu Quoc was completely built out with nice looking properties, and nobody living in them. It'll take years for something like that to play out.
What did you think of Phu quoc? I found it a bit boring after 2 days tbh. I prefer Thai islands for holiday.
@@dadbod7510 I married and other than exploring and eating we don’t really do much. We loved it, but I could totally see how it could be boring to others.
We may try to check out Thailand next summer. Haven’t been yet
Renting is better than buying in Vietnam.
China has. 50x price to incomes ratio for property price
Exactly. Just wait the bubble to explode completely before doing any investment. And the property laws are restrictive in Vietnam. You can just put the money at the bank and get a nice interest rate which will cover the rent.
Easiest way to explain the red book vs pink book are red book = single family unit, pink book = multi-family units. Also, not all multi-family units are eligible for foreign purchase, only 30% last time I check. This causes the pricing for foreigners to be more expensive, basically supply and demand. Last, Vietnam has restrictions on how much money you can move outside the country, investing a large amount of money is not a good idea unless you plan to reside in Vietnam for a long time. My wife is a Viet Kieu and I retired last year, were planning to purchase some properties and retire, looking to invest some $, found out it was more difficult than we can imagine. Simply put, don't invest unless you can afford to lose all of it.
Good job. I enjoy your videos.
Good stuff!!
Just rent. That will save you from misery
G’day Ken,
Great video & over 300 comments your message is getting through.
I think I will rent from you to be 100 % sure I don’t get ripped off.
Cheers
Louis Kats your number 1 Fan in Melbourne, Australia 🇦🇺👍 🇻🇳
Great content 👌 👏
Thank you 🙌
@@duongglobalbusinessconsultingSir, I just want to buy a land like 65ft*65ft plot for building a home in the outskirts of hanoi for cheap. Where to buy??
Just subbed coz i like you
Had a look at flats price in D4 next to the canal. I don't see much of a bargain at the moment. It can go even further down. Will see how the new law regarding Viet Kieus will impact the market in 2025.
Subbed! Very valuable info.
Just rent it, there is no need to go through all of the trouble.
Or never invest more than what you are willing to lose.
Hello Ken, Should contact you if I want to buy home in Bien Tay or Nha Trang?
Love all your informative contents on the Vietnamese real estate market. A quick question. Can overseas Vietnamese passport holder buy properties including land.
Yes, you can watch our Vietnam Passport playlist for more details.
they give you the illusion you own the property , then WHOOPi All gone.
Surprise! They’re communists. You own nothing, the communists own everything.
This tells me foreign countrys should treat vietnamese the same as vietnam laws for foreigners for vietnames overseas.
Rule #1 don’t buy in ripped off country!
Own the land and the construction on it as well as getting the right to passing on this right to your children without problems , this is where you want to be. The rest is a no no no.
Great work you do here, Ken. You clearly illustrate the rules and limitations in property ownership.
I've sent an email directly to the firm regarding foreign investment and tax issues we would face in the states.. ...and i got crickets 😂
Never buy a condo off the plan. In Vietnam they will look nothing like what’s promised in the promotions and the promised ammenities like pools or ground floor shops never eventuate. And also for some reason in this country most big property developers end up in trouble with the law or financially.
I was just in Da Nang in February and along the ocean font you can see dozens of half built condos that went bankrupt after covid. Sitting empty now for a couple years, and no one knows what is going to happen.
Haha
I saw 20-30 half built buildings in and around Danang.
It’s up and down the coast.
It’s part of the SCAM of Vietnam.
@@DaveEPie But when Covid hit, workers couldn’t work so the invested money dried up,and they lost their money. What will happen to the buildings. It seems in the west they would be auctioned off to the highest bidder, and they would be finished. Not sure what happens in a communist country.
@@DaveEPiesaw the same things in Ecuador. When I was in Da nang in 2017 I did see a lot of building going on and I was wondering ,I guess it’s all coming to hound them.
Bottom coming within 2 or 3 years Best time to buy. Like Thailand in 97 USA in 2008 Japan in 1991 2027 to 30 great buys Hyperinflation likely after 2030 Have traded 100m borrowed 30m so I watch these things closely. GUSH 14 to 200 KOLD 10 TO 170 TSLA rose 26x NIO 20x NVDA 12X but tremendous volatility Vietnam Japan Thailand Cambodia Phillipines are great for retirees. Dont even need a long term visa Airfare is cheap Flights are frequent Cambodia 5 year visa is easy Thailand 10 and 20 year elite visas Vietnam may need a few more years to get its visa act together but it is moving in the right direction. Love Vietnam as well as Thailand Malaysia Japan Phillipines Your capital is freer in Singapore Dubai or Bangkok than Vietnam or Malaysia even Japan Have remitted over 1m so I know. Moving money in easy Moving it out not easy or cheap unless u r a huge multi national. Crypto volatile tax risks. Be cautious for 3 or 4 years 0 debt lots of cash Fire sale coming.
Plus you can rent for roughly 1/2 of what a monthly mortgage would be. Only reason to buy in VN now is if you're thinking long term I/e 10 years or longer
@@jeremysmith3163 even then I rather wait 2 or 3 years I will never sell
Whats the average price per sq. m or sq. ft. in HCM District 1 for a decent condo? PS. Do you have an office in HCM or elsewhere in Vietnam?
What is a "decent" condo? Please send us an email and our real estate experts will find one for you. Office address and email are in the video and description box.
The thing is foreign people include Vietnamese live abroad do knows what risk to buy home or land in VN or in any communist country but one thing i am not understand is the government officials can make excuses to take your money, home at any time they want, so be careful and think twice before invest amd buy home, land in VN. Good luck
exactly, wanted to know the true, Ask those that flee Vietnam in 1978 on a little boat, Risk their live, and many have lost their live, because they know the communist system, and the communist haven't gone away, they just abit smarter these day.
@@sinhchiem US government can also take your house away, part of Patriot Act 2001. Stop sounding like 3 que xỏ lá.
also, when you buy the land, you don't even own the land...which kinda sucks
@@xdgs567zif you look at the fine prints in any country, you never actually own the land, the government owns it
@@phamman88 Not true in some other countries. It may be true in a lot of countries in Asia.
Just subscribed , first time watcher. Hope your channel would do better Ken
Vietnam is good, but market is still small vs other markets and also the infrastructure is still poor
That's where the opportunity lies, dumbass 😅
I look online and see many condos for sale for good prices in Vietnam. I have trouble finding websites with houses. I promised my fiancé in 10 years a house near cam ranh or Nha Trang with a yard and fruit trees. (She is from HCM. I am from USA) Where do I find HOUSES?
You can't own a house in Vietnam as a foreigner, as it comes with the land.
@@duongglobalbusinessconsulting I suppose it would be less than ideal to have the house in my soon to be wife's name, though if that is the only way I suppose I could. She would not have the same constraints as a foreigner .
In the US you are given an illusion that you “own” the land but you really don’t! Why? Because of the amount of annual property tax and heavy rules/regulations. So in Vietnam, a citizen has much more real estate ownership than the US as well as the West, that’s a fact, no argument about it.
There is zero illusions of ownership in the US. Your land is yours, not the government. They tax you for ownership but there is zero doubt about who owns the land that can passed down for generations. In Vietnam, the communist government own the land. You own nothing even if you can afford the tax. Classic communist bullshit.
So other investors have "not shown their 'intentions' or 'penetration' into the Vietnamese market yet"...Who comes up with goofy language like this...and this guy grew up in the US...really...??? Just be up front and tell the world NOT to invest in developing countries unless you can write the whole thing off as a loss, and yes that includes Vietnam, cause you'll never really OWN anything no matter what they tell you. Clean Title, not a chance, and listening to self-serving bubbleheads telling you they can give you solid ownership of anything is a dream, all it takes is yet another bank scammer or a change in government. There are btw also casinos in Vietnam, and gambling there could quite possibly prove to be a better option for a return on your money than investing in real estate in Vietnam. Don't be stupid, invest in a country with real binding laws, regulations and transparency, not in some romantic dream-world (no matter how cute she is)...
thank you, I'm 58y old living in Brisbane, and looking for a good place to move to, I have more information in your video than the last 3 months of the rest of the videos for the places people could live in, like to contact you soon to rent unit in Vietnam from you ,if I can, cheers
Where is the bottom price? Is this about legality? Red/Pink ? Or about the bottom price ? How much is the price ?
Why not buying in Shanghai?
Excellent series Ken and thank you for the advice. Your services and expertise to those seeking retirement options is priceless. First started traveling to VN years ago and had no idea how to navigate the intricacies of the purchase process. Now with a growing family I’m slowly making retirement plans.
Cambodia market are the same way!!! Be careful, be careful!!!
The whole video did not explain the objective and benefits of buying properties in Vietnam for foreigners. What's his point?
Same question
Iny opinion, i rented 5 straight night in hcm landmark plus at level 39 and (3 nights) 42 th floor. I think it is not worth investing as the necessaries around the area is so much pricy compare to Singapore. U don't get to use the swimming pool and etc. Example the shampoo from dove brand is twice the price of Singapore. seriously there no true value if everything is not align with the standard living of any Vietnamese (poorer group or middle class). Another example, our government condo project is quite ridiculous to the point to build 8 swimming pool for just 6 - 8 full block of condo apartments. I don't see that in Vietnam condos units here. You need to stay at least 1 month to access them. The properties in Vietnam in the way I see is of not much value in the end of the day and are already overpriced.
There are 7 to 8 building complexes at Landmark. What Landmark did you stay at? For the room amenities, it really depends on the landlord/agency you rented from.
When you buy a house in vn your land still own by the government you only own what ever seat on the land so why would you buy 😢😢😢
Ken, Some Americans are considering using their IRA to purchase properties, Could you do a program on what needs to be done to be able to use these accounts to buy? Thank you.
Tell them to rent
May i know if buying an condotel for hospitality investment in Danang of Nha Trang can get pink book registered as an foreigner property investor ?
We as Vietnamese must first reckon with the things call : “hubris “.
Hi, my sister sensed that your agarwood bracelet is fake. Please bring it for authentication.
Hello Mark Huang, how can our law firm help you?
I am Vietnamese and let me tell you what I know about Vietnam, You are not allowed to talk negatively about the government and the country of Vietnam. The government of Vietnam illegally took a lot of land from people in the district Thủ Thiêm,
Why?
When Vietnam was divided between north and South were you allowed to talk badly about the government and the president in South Vietnam?
When the French were ruling Vietnam were you allowed to talk badly against French rule of Vietnam?
When Vietnam had kings were you allowed to talk badly against the king and his government?
Fact of the matter is no government in Vietnam's history has improved the lives of the Vietnamese people as much this current government.
I am sick and tired of hearing westernized people from other countries 💩 on their own country and people and idealizing the West.
The Biden administration has decided it will only follow our Constitution when its pleases them. They control our media, they use the government against their political rivals and they have unjustly imprisoned people critical of the government. Chao Ken
@@danwelterweight4137That last statement sounds contradictory.
@@Viking380 That was NOT a Communist country!
As a foreigner they will charge you 25% premium in any property i. e. If the price for locals is 400K you as the foreigner will end up paying 500K and nobody will give you an explanation on “why?”
You get only 30 years but if 2 previous owners had the property you get 30 years MINUS the number of years each previous owner owned the property. Why? Nobody will tell you why.
It’s not a transparent market AT ALL. Moreover each real estate agent sings a different song: yes u can sell the property to anybody including Vietnamese OR you can only sell your property to foreigners because there is a quota imposed by the government.
It’s discouraging….
Stay away from real estate in Asia as a foreigner they will skin you alive and you can lose a big chunk of your net worth.
And please please please DO NOT put any real estate asset under the name of a sweet gorgeous Asian girlfriend because things always take a turn for the worst and you will be in a “Nightmare” scenario that you never thought you would find yourself into when you were looking in the eyes of your Asian temptress…
As a Vietnamese i can tell even most of the Vietnamese people don't even know that "why". If you asking random people in VN about real estate, all they know is speculating
Generally, 5 to 10 percent. And the leasehold is 50, not 30 years.
@@duongglobalbusinessconsulting ok 50 my bad but you still get 50 minus the years the other owners owned the property.
It’s 25% mate, real estate agents try funny numbers wit you but if a Vietnamese asks the price for the same property the foreigners gets cheated 25%.
South East Asia can be paradise on earth or the graveyard of fools… you choose!!!
I'll do Malaysia though. Low price for what you get. Freehold and leasehold. So you do own the land on a freehold property.
@@j.c.4192 Muslim country…. I’ll think 100 times before making a move to MY.
Subscribed Buddy 😊
Are you able to have dual citizenship? Like if you have Vietnamese passport and USA at the same time?
Yes. We have made over 20 videos about it. Please check our playlist.
You don’t need a visa to buy in Malaysia or Thailand too.
That is correct.
I will soon be married in Cam ranh. I will spend my honeymoon in Da Lat. I am looking for a side trip between them, perhaps to stay 5 days. I do not mind off the grid or rustic. In fact, I would find charm in it. Suggestions?
Let's check Novaworld Phan Thiết, a nice city which has nice seaside
The Best Info. Great Job. Thanks Ken!!!
For years now, Vietnam's property market was led by Chinese investors.
But now that China's economy is shrinking, their own property market is collapsing along with any properties they own around the world, including Vietnam.
But unlike, say the U.S., NO Vietnamese could afford such high prices to save Vietnam's real estate sector.
Hence, it must collapse.
Exactly
our 🇨🇳 economy is doing fine, keep your bullshit to yourself.
I am trying to contact your firm as I need a service. No one responds to email enquiries, though
Hi, could you please provide your email?
The best way to attract FDI is to show how investor rights are protected and how dividends & distributions out of Vietnam is working out. These are 2 key pieces of info needed.
Please contact us to book a 1-hour legal consultation and one of our attorneys will be happy to show you how it works.
@duongglobalbusinessconsulting I appreciate the offer. But if anyone contacts you on this for me it would be my brother-in-law who is an attorney in Vietnam.
I can't even afford real estate in the states. 😢
4:57 the view with mountains, is that vietnam or stock?
Thanks for another very informative video, Ken. 👍
Why would foreigners invest .... when you dont even have the same rights. When it comes to visas and liberties
Thanks for the overview of the real estate investment. It is quite informative.
Very funny. You show us well the way to lose money.
Just be very very careful if you intend to invest in Vietnam. You might end up losing all your moneys, or your freedom or your life. Look at the case of a very rich business man “Tang Minh Phung” sentenced to death and executed in 2003. Today another case for a very rich business woman “Truong My Lan”. You need connections to do business, and most involving in local officials and may lead to corruption.
Be very careful buying into condos/apartments before they are finished. This is where you can get into financial disaster because the developers run out of money somehow. If you're a foreigner, better to buy a unit that is completed already or a resell, so you can worry less.
Cheers Ken!
NOT THE BOTTOM ... NOT EVEN CLOSE. THE CURRENCY RESET WILL BE THE 'BOTTOM'
No title company in Vietnam?
I dont understand why you said it collapsed when the price is still rocket high and still becoming higher. How can it collapsed. Just the people who live in VN can not buy house because the high price tag
Wonder Whether Did You done any Video On Buying Property in Thailand? T.q.
Saw you in Al Jazeera video yesterday in regards to VN banking scandal
I was waiting for him to report on this.
That's cruel bro! 🤣🤣🤣
I am a Viet Kieu and I am interested in buying land or property in vietnam for retirement one day. Can you please talk more about it. Thanks for all your great videos so far.
Please email us to book a 1-hour legal consultation.
Too complicated, why take the headache.
Live your channel, been subscribed since the get go. One question, can I own RE in VN if I was born there?
Thank you for providing this topic as usual every topic that you buy on TH-cam is interesting and will help me in the near future to come and live in Vietnam and own property with my Vietnamese wife keep up the good work I love it mate
Its much easier when you are married to a Vietnamese.
You should invest when prices go down
I have nothing against Ken, he seems like a stand up legit guy, but having been a person who invested in Vietnam via local government rules with a legal registered investment only to then be told 4 months later that my investment was illegal and my money gone.........gone to the communist party.... well I cannot in good conscience tell anyone to invest in this communist country. Fortunately for me I only lost 30K USD after expenses, left Vietnam and won't move back, but it did take me a few years to recoup my savings to replace this money stolen by the Vietnam Communist Party. I think you can find other safer places to take a chance that Commie Vietnam but I do so that it's your money so do what you wish.
That happens to me, and I am Vietnamese. If I am correct, they sold you the "future property", with is the type that they let you sign the paper and pay up front 20%. The issue is, you could not know if this "future property" will be built or not, or if the project has been registered with the local government, or did the building companies are straight up scammers or not. In my case, my property building was delayed due to lack of environment certificate, result in that the project is on hold forever.
If you still have your paper, you can call lawyer to sue the said company. Lawyer would take around $1500-3000 a case. And in case you win, the company is obligate to pay for your lawyer fee. I am suing them, but it didn't go to trail yet.
Same thing about USA , Right now I own House but what Ever I build on that Land I have to Pay real Estate tax , There are No escape , When I buy The House , Property Tax was 1200 a year Over the years building get older and older but Property Tax go up to 8200 $ a year .
I'm in Commiefornia, bought two 1 acre lots from a stranger.
20k for the lot that had a burned cabin, with utilities.
And 25k for the other lot.
County assessors tax me 4x more than the purchase price.
The county is not complying with the 1 percent tax basis of purchase price
One mans trash is another mans treasure
It is better and wiser to go to vietnam and open a business without all the licensing. Just live there and open a shop. They wont say sh*th.
🌷🍀
Thanks for awesome video. My question for you is. To rent place in Vietname is there any agent to go to find a place for you or there is a website we go to , to find a place.
Thank you.
Ken glad to see you are offering this real estate service which seems similar to an American title company. It's much needed in Vietnam. Problem is, Vietnam realistically needs another 2,000 of you.
What's the process of transferring funds out of Vietnam if one decided to sell the property for foreigner?
money trail - how you transfer money in to purchase the property, keep that paperwork and when you sell, transfer out the same way
The same way you transfer your money in, now just reverse.
Roaches can check in but they don't check out.
Good luck getting your money out.
If you have to ask this question- it means you need to study more. They will make it very difficult for you to cash out.
Are redbook and pink book will have duplicate / double then cause dispute?? Because in indonesia its the biggest problem until now ... one pieces land can have double triple greenbook (land certificate) so cost many dispute ... Since jokowi president reform much better now but still high case dispute.. the main problem its land mafia cooperate with bad corupt officer😊
Thanks for the update!
If you are a foreigner you can buy basically condos , buying villas is difficult.
So foreigners will get a 50 year lease buying a condo .
But regardless if you are local or foreigner buying a condo has many risks
1st who are the developers the local developers are very risky with Nova Land basically bankrupt and Vinhomes buildings low quality homes .Masterise build nice buildings but the price is over priced .
So you should buy foreign developers like Kepple land , Capitaland , Mapletree Fraser’s and Hong Kong land .
BUT WAIT you bought the perfect condo from the perfect developer but the building owners committee BOC ( condo board) that owners vote in to run the building will be Vietnamese and they have no concept of being volunteers and do not do anything for free .The condo board will use their positions to enrich themselves and in many cases these volunteers will take over all the money owners pay in management fees and even in some cases take over ownership of common area land in the development.
Condo law is still very new in Vietnam and it is a Wild West with people buying condos on plan before construction and when the building is finished they can’t move in because the government says the developers didn’t have permission to build.
The prices in Vietnam are crazy high compared to Thailand and Malaysia and the government changes laws like the weather
No doubt some people get lucky but so do people going to Vegas rolling the dice
It would be good if Ken could specialize in real estate law so that people could go to him before buying so the #1 they are assured what they are buying is legit in others words the person selling is the actual owner and #2 if it is a Condo that condo is in sound financial state in other words not going bankrupt with their sinking fund all disappeared and cleaned out
I am surprise the government let u tell the truth
I was told that you can criticize the government. You just can't talk about protesting, overthrowing, or harming the government.
@@rendezvu175 sound about right, they allow protest too but you have to get permission and permit for it.
Nobody , even Vietnamese OWN property . It’s just an LUR ..land use right certificate. No Freehold ownership & that LUR can be taken away with the stroke of a pen. Apartments are really leasehold @ 50 years for example & as it depreciates with age , what’s it worth then?? Never buy immovable assets in countries you don’t have citizenship in. If you’re a foreigner, your Visa can be cancelled , denied extension & the married guys ……where do they run when wifey pints them. RENT don’t BUY. Invest your dollars in blue chip safe havens with solid credit ratings. Vietnam has No rule of Law, No freedom of Speech , the credit rating is Low & as we’ve seen , corruption is endemic. The Multi Nationals do well since they use other people’s money….Banks, shareholders, Govt grants & private equity…..what is the schmuck stepping off a plane using.????
If an old woman can steal BILLIONS $$ assisted by high ranking officials & Inspectors ….it’s obviously a loose system. Tread carefully , or don’t tread at all.
Exactly-
Keep all your capital out of that country.
Go there- enjoy the good things of the country.
If you stay long term- rent something.
Never never invest there.
Jump through these hoops. Pass the money over. Oh.....we are very likely to put new hoops up after that and oh....most importantly , those hoops may be closed.
Rent ! When war breaks out ! Pack up and run 🏃♂️ forest 🌳 Asia not worth buying! Cheap rent ! The world changes!
Great video regarding legal advice but with all the credibility of the developers, banking, local crooks officials, and government. It is very risky and also over pricing for a third world country. 😊
Well said till the vc jungle law kick in mate🙈🙏🙏
This is just a sales pitch asking you to transfer the money to their bank account. What rights do you think you would have if the guy runs?
Please feel free to let our law firm know how we can help.
Don't worry, VFS stock price in the US hasn't reached bottom yet :-)
It’s foolish for a foreigner to “buy” real estate in Vietnam. NEVER buy anything you do not have 100% control.
Where does all the poop go with all those people? Hopefully not in that river
It goes into your mouth 😂
@@flashmedia8953 lol 🤣.
What a toilet bowl
so you can buy a condo but what about visas? how can that be done without drama?
In Cambodia, they says real estate prices keep going up
It’s true
Hanoi old Square District is still expensive thoe.
Don't invest unless you know how to move money out of Vietnam. They have 50-60k per year max and it would take years to withdraw large fund legal way.
Exactly
I don't think it hit the bottom yet too much greedy US money is coming in and Malaysia , Hong Kong and Singapore is next for a big bubble too much money and rich people there you heard of forest green city in Johor Malaysia 100 billion project gone .
We were offered an apartment to buy, seemed like a good price....but, property has no red book or pink book ?
So I chose to rent !
they can turn pink or red book into black with one signature from state official
Errr,,,,,wait a sec...I thought foreigners aren't allowed to buy property in Vietnam. 🤔
Buy low sell high. Thanks for the informative video.
One way escrow. Roaches check in but they don't check out.
Rule #1: Never invest your hard earned money in a communist country. Rule #2: Do not forget rule #1.
Great advise….you just don’t know when they change the law, if there is 1. 🤣
Say u ignorant without saying u ignorant😂
Yeah...give that's advice to Elon musk and others big boys.. and you will get fired..😂 in fact warren buffet just keep smiling cause make right decision profit $2 billion from byd he invest in 2008😂😂
As if the U.S. is any better.
If I buy in Nam will I have to be afraid of the Vietcong.???
What plc are exposed to this sector?