How do you invest in Vietnam real estate?

Mangoshake wrote:

My point is lets say i buy a condo here with a 50 years lease and then sell it to another foreigner after 15 years time will then the new buyer only have left 35 years? Or will new buyer get a fresh 50 years in case of a resale?

I think that question has been addressed on this thread but I am afraid you may have to dedicate a few hours to reading through the 556 posts before you first posed your question.  Sorry but Ouch   

THIGV wrote:

Mangoshake wrote:

My point is lets say i buy a condo here with a 50 years lease and then sell it to another foreigner after 15 years time will then the new buyer only have left 35 years? Or will new buyer get a fresh 50 years in case of a resale?

I think that question has been addressed on this thread but I am afraid you may have to dedicate a few hours to reading through the 556 posts before you first posed your question.  Sorry but Ouch   

Has anyone noticed what something looks like here after 10 years, let alone 50. 
Anyway,, A lot of this topic will now go to the “museum” of redundant threads due to the Covid19 issue.

The fallout will change everything. 

On a brighter note....remember our good friend Mr Delafon ??  I notice he’s been quiet here lately , but he bobbed up on FB offering advise to newly arrived wannabe “entrepreneurs “.

It’s good to see he’s still got the enthusiasm.

phikachu wrote:

Why would a foreigner buy your foreign owned apartment when they only inherit the remaining 50 year lease length from you?

Why would they buy from you instead of the local flippers?

Good luck finding someone to buy your apartment when any local with money to invest is only interested in flipping these flats before they are completed or buying strips of land next to yours. Why would anyone buy it when there’s thousands of new apartments and projects coming into the market.

Thats the Vietnamese condo trap.

This does answer my question!
Based on this i would never buy a condo in Vietnam since they nearly become unsellable once u bought into it.

Ontheroad57 wrote:

On a brighter note....remember our good friend Mr Delafon ??  I notice he’s been quiet here lately , but he bobbed up on FB offering advise to newly arrived wannabe “entrepreneurs “.

It’s good to see he’s still got the enthusiasm.

Just recently, he posted a request to join a Vietnamese language class given by a local.  I was under the impression that he either knew Vietnamese or married one.  Guess I was wrong.

Well he’s certainly made a name for himself at New City Apartments

Michel has posted a video of himself on FB after being surrounded by 10 security guards during a property dispute.   

If anyone’s thinking of investing in property, maybe have a look at Michel Delafon FB page video regarding the shenanigans at New City.   

He seems a nice guy...I bet he’s got a good story to tell regarding the Pro & Cons of property investment here .

Yes amazing just watched his video..
These Guards seems to think they can block him to leave ??  He mentions he paid couple billions for that ☹️☹️..
Anyway i will just rent in Vietnam  and buy elsewhere and it also seems way overpriced probably  by these chinese and then their 50 years lease construction its done cleverly but a smart investor is never going to touch it because they become unsellable once you buy it.

Well, he was warned!

Ontheroad57 wrote:

Michel has posted a video of himself on FB after being surrounded by 10 security guards during a property dispute.

Do you have a link to the FB page?   I need a good laugh ***

I’m one of those dumb shits that haven’t figured out putting a link in these posts.😆

But just google   Michel Delafon Facebook.    I think he’s the only one

THIGV wrote:

Ontheroad57 wrote:

Michel has posted a video of himself on FB after being surrounded by 10 security guards during a property dispute.

Do you have a link to the FB page?   I need a good laugh as the moderators here seem to be becoming intolerant of humor. 

All the moderation types on here I've spoken to on the phone have a terrific sense of humour. They play a game where they hang up as soon as I speak.

https://m.facebook.com/profile.php?id=100004551433177

I recall one poster here who loved investments, but I wouldn't be inclined to follow suit as it may cause headaches only decapitation would ease.

I'm guessing here, but surely the clever move would be shift all your kit and move before telling them.
However, what do I know?

Ontheroad57 wrote:

But just google   Michel Delafon Facebook.    I think he’s the only one

Actually he is one of several but he is the only one in Vietnam.  What I found most interesting were his "Check-Ins," in particular Quy Nhon on 28/3/20, Maldives on 8/4/20, HCMC on 11/4/20, and back to the Maldives on 4/13/20.  If this is accurate, our friend must be quite adept at avoiding travel restrictions.

THIGV wrote:

Ontheroad57 wrote:

But just google   Michel Delafon Facebook.    I think he’s the only one

Actually he is one of several but he is the only one in Vietnam.  What I found most interesting were his "Check-Ins," in particular Quy Nhon on 28/3/20, Maldives on 8/4/20, HCMC on 11/4/20, and back to the Maldives on 4/13/20.  If this is accurate, our friend must be quite adept at avoiding travel restrictions.

Could it be possible he may be a con-man. 🤓
The thought had crossed my mind....

Maybe the Scarlet Pimpernel.    They seek him here, they seek him there 🤓
I don’t know what a pimpernel is ......better google that too.

Either that, or he has his own private Jet & diplomatic immunity.

Ontheroad57 wrote:

Could it be possible he may be a con-man. 🤓
The thought had crossed my mind....

That part is a given but I think those Facebook Check-Ins are tied to the location services on your phone.  Facebook knows all:  You can run but you can't hide.   

Ontheroad57 wrote:

THIGV wrote:

Ontheroad57 wrote:

But just google   Michel Delafon Facebook.    I think he’s the only one

Actually he is one of several but he is the only one in Vietnam.  What I found most interesting were his "Check-Ins," in particular Quy Nhon on 28/3/20, Maldives on 8/4/20, HCMC on 11/4/20, and back to the Maldives on 4/13/20.  If this is accurate, our friend must be quite adept at avoiding travel restrictions.

Could it be possible he may be a con-man. 🤓
The thought had crossed my mind....

The thought never crossed my mind that he isn't.

(Sometimes you need a double negative 😁)

He’s been bobbing up everywhere offering advice to anyone sourcing information on “start ups” & property investments.

It appears the hustler got hustled.    You’d think the last thing any good bullshitter would do in Vietnam is put their own money on the table.

They must like him tho.......the poor bugger can’t even get thrown out .  He did mention previously that he wasn’t going to pay the maintenance levy’s on the building........I suppose whatever is in the suitcases better be worth the outstanding levy money....😆

Ontheroad57 wrote:

He’s been bobbing up everywhere offering advice to anyone sourcing information on “start ups” & property investments.

Oct 2017 he was asking for advice on forums

Ontheroad57 wrote:

They must like him tho.......the poor bugger can’t even get thrown out .

This probably explains the back story

https://www.expat.com/forum/viewtopic.p … 11#4622633

He doesn't appear to have checked service charges and if they were fixed or not - an issue I've heard many times in the past.

Ontheroad57 wrote:

I’m one of those dumb shits that haven’t figured out putting a link in these posts.😆

But just google   Michel Delafon Facebook.    I think he’s the only one

It's easy. Copy the page link you want to use, then click on the link symbol next to the smiley face in the message box. Paste the link into the first box.Then give the link a name in the second box and post it.

colinoscapee wrote:

Ontheroad57 wrote:

I’m one of those dumb shits that haven’t figured out putting a link in these posts.😆 ......

It's easy. Copy the page link you want to use, then click on the link symbol next to the smiley face in the message box. Paste the link into the first box.Then give the link a name in the second box and post it.

And here I was thinking that symbol was a pair of eyeglasses.  It's just to the right of the hypodermic needle.

See if that works..

Am I getting the hang of it.

Ontheroad57 wrote:

See if that works..

Am I getting the hang of it.

You got it.

THIGV wrote:

What I found most interesting were his "Check-Ins," in particular Quy Nhon on 28/3/20, Maldives on 8/4/20, HCMC on 11/4/20, and back to the Maldives on 4/13/20.  If this is accurate, our friend must be quite adept at avoiding travel restrictions.

The Maldives in question is the name of a condo tower in Q2.  Don't know how he got to Quy Nhon though.

For those looking to learn more about Vietnam's housing law for foreigners, check out this investment guide from Kepple Land for accurate information.

keppelland.com.vn/pdf/Investor%20Guide_soft%20copy_96dpi.pdf

Same subject, same pointless gossip again. 

As a foreigner you simply should not (in my opinion).
Yes, foreigners are allowed to buy up to 30% of the apartments/houses in a condomium, and obtain a pink book (stating ownership of land and building) for 50 years. But people who invested, are still waiting for their pink books, because the law dates from 2015, but it seems the lower authorities are still missing implementation guidelines.

Martin9000 wrote:

As a foreigner you simply should not (in my opinion).
Yes, foreigners are allowed to buy up to 30% of the apartments/houses in a condomium, and obtain a pink book (stating ownership of land and building) for 50 years. But people who invested, are still waiting for their pink books, because the law dates from 2015, but it seems the lower authorities are still missing implementation guidelines.

For those that invested with a long term strategy, not having the pink book is actually a bonus as the clock doesn't start ticking on the 50 years until you have the pink book in hand.

Foreigners are not receiving pink books only in certain areas such as coastal cities and major metropolitan cities like HCMC and Hanoi.

Oh my, I always wondered what happend to Mr Delafon. He always came across as someone up his own backside. I saw the video but I don't know what's going on in it and what's happened to him since when was on here bragging about all the properties he had so cleverly invested in.

What's gone so wrong that they won't let me leave?

Initially, I thought buying a property as a foreigner with a 50 year lease was crazy but someone who knows more than I do said they might end up being more in demand what with foreign quotas. I've seen this in Thailand myself where a couple of places I looked at was near completion and some blocks people had already moved in. I was told at two developments that I couldn't buy one off plan since the quota for foreigners had been reached and if I was to buy a resale it would have to be from another foreigner which they could show me one or two. I bluntly asked how can I know the property isn't just being flipped but apparently the data of who owns what in a building is available upon request. Obviously not private information but enough to establish the foreign quota. There's much more transparency in the Thai market. It would be interesting to see how the quota affects demand and whether it's really enforced.

phikachu wrote:

What's gone so wrong that they won't let me leave?

I don't recall if it was in the video or in his text but apparently M. Delafon had refused to pay his maintenance fee for several months.  I think he could have left at any time bare handed but security would not let him leave with his suitcase as it might have had critical papers in it.

Does anyone know why uber-investor Mr. Delafon Refused to pay his maintenance fee.. As I recall he invested in only the best, most trusted investments in VN if not in the world. What could have possibly went wrong. Did he just miscalculate his funds and run out of money, or did the condo charge for maintenance , but performed none. I think we told him that was one of the dangers of buYing one if these polished new units. After a short period of time the common areas fall apart and your embarrassed to walk the halls. I use to live in such a unit and had the halls on my floor painted every year at my expense.
Well at any rate I hate to hear the investment game turned South for him here. I think he must have just miscalculated because VN isa great place to invest. So good there is not even a need to concern yourself with yield on investment.