Foreigners can buy an Apartment but can not rent it ?

Yes there is a way.....don't invest in VN. Even transferring money in to pay for the investment is a hassle. Not much is made easy here. rent an don't worry about it.

I would never buy a real estate investment in Vietnam.
Only for my own use and to leave something for the children.
And just buy something new directly from the developer or buy land and build a house myself.

I would never buy an apartment in a high-rise complex in Vietnam.
But not because of financial matters but because of the noise of the neighbours.
Maybe in completely new projects the doors and windows are of better quality than a few years ago. But certainly not as good as in better developed countries.
When the high-rise building is built, there will be noise for the first few years from the interior work on the gradually sold flats.
And after a few years the same when the first people sell their flats again.  The new buyer will tear out all the tiles and change everything else.
Then the eternally barking dogs on the balconies (not to mention the lifts constantly pissed all over by dogs).
At the moment I live in a not so old high-rise building.  And I can tell you it's terrible.  For all noise-resistant people that's probably okay.  But I can only advise against to buy an apartment all those who are sensitive to noise.

Financially I don't think it's a big risk to buy a cheap apartment for 1-2 billion Dong.  Even if the building fabric is probably not the best, you can sell the apartment after 10 years at least at the purchase price again.  After all, you have lived for 10 years for free.
I would never buy a luxury apartment for 8-10 billion Dong.  I am almost sure that after 10 years you will have difficulties selling the apartment for the purchase price (relatively bad building fabric and lack of maintenance).

Also for those who only buy apartments to speculate with, I think it is easier to resell a cheap apartment than a luxury one. Especially if you are able to sell to a Vietnamese citicen (in case you bought the properies on the name of your wife).

Hello,

Important for me is to share this information and to see what we can positively do about the situation.

Global pin book situation in Thu Thiem, District 2 Saigon:
No new owner in Thu Thiem has obtained the pin book up to date.
In New City, I've been here for almost a year ... The sales manager in New City tells me that it is because of the government and that there is still at least 2 years before having a chance to get it...

What do you think ?

DELAFON wrote:

Hello,

Important for me is to share this information and to see what we can positively do about the situation.

Global pin book situation in Thu Thiem, District 2 Saigon:
No new owner in Thu Thiem has obtained the pin book up to date.
In New City, I've been here for almost a year ... The sales manager in New City tells me that it is because of the government and that there is still at least 2 years before having a chance to get it...

What do you think ?

Sounds about right, this is a problem in many of the new developments. Time the government got their act together.

DELAFON wrote:

Hello,

Important for me is to share this information and to see what we can positively do about the situation.

Global pin book situation in Thu Thiem, District 2 Saigon:
No new owner in Thu Thiem has obtained the pin book up to date.
In New City, I've been here for almost a year ... The sales manager in New City tells me that it is because of the government and that there is still at least 2 years before having a chance to get it...

What do you think ?

Yes pink book for foreigners can be postponed until forever.

The real reason is, there is one specific nationality who are trying to own many lands in Vietnam (hint: they are our neighbor), and Vietnamese government cannot do anything about that. So they seem to decide to hold the pink book registration application of all foreigners.

Source Saigon times April 2019:

Article title: Poor demand strikes apartment segment in Q1

"The 1st quarter of the year saw a fall in both supplies and sales of apartment in HCMC, at 57% and 52%, respectively, over the same period last year"

"...in the first 3 months of the year, some 12,000 apartments were put up for sale, with 6,400 of them being sold..."

No further comments...

DELAFON wrote:

Source Saigon times April 2019:

Article title: Poor demand strikes apartment segment in Q1

"The 1st quarter of the year saw a fall in both supplies and sales of apartment in HCMC, at 57% and 52%, respectively, over the same period last year"

"...in the first 3 months of the year, some 12,000 apartments were put up for sale, with 6,400 of them being sold..."

No further comments...

This is your third post of the exact same info in multiple threads.

You are obviously trolling this site to get contacts for your consulting business.

If supply and sales are falling, the capital gains will soon follow.

OceanBeach92107 wrote:

You are obviously trolling this site to get contacts for your consulting business.

Consulting for what?  How to buy in at the peak?  How to make investments that lack liquidity due to inaction of government officials?  Oh yes, there is always buy now before it is too late.   

THIGV wrote:

OceanBeach92107 wrote:

You are obviously trolling this site to get contacts for your consulting business.

Consulting for what?  How to buy in at the peak?  How to make investments that lack liquidity due to inaction of government officials?  Oh yes, there is always buy now before it is too late.   

Can you say that again, slowly.

I'm taking notes...

😁

OceanBeach92107 wrote:

DELAFON wrote:

Source Saigon times April 2019:

Article title: Poor demand strikes apartment segment in Q1

"The 1st quarter of the year saw a fall in both supplies and sales of apartment in HCMC, at 57% and 52%, respectively, over the same period last year"

"...in the first 3 months of the year, some 12,000 apartments were put up for sale, with 6,400 of them being sold..."

No further comments...

This is your third post of the exact same info in multiple threads.

You are obviously trolling this site to get contacts for your consulting business.

Thanks Impossible because only last year Delafon was telling us all how to make a killing in the real estate market because it was a sure thing.

So, I don't possibly see how he could be advertising his poor judgement!

The housing market is very commonly a mug's game.
Fools scramble to buy property at stupid prices because the estate agents tell them how they're going to make a mint on their investment - then the bubble bursts, and the idiots that bought have to sell cheap in order to dump the albatrosses around their necks.
Estate agents make a fortune from these Ancient Mariners, then retire to the sun on the money they parted from fools.
I'm amazed people are still stupid enough to do it, but they buy gold as an investment as well - and bitcoins - and .........

If I might be so bold as to suggest an alternative, I'll be happy to.
Just send US $250 and I'll share the details - you'll make a fortune.

Ok.....
The $250 sounds reasonable, but I’m having trouble trying to send it thru to your account.....must be an interbank SWIFT code issue.😳

But.....I can pay it via BPay to your credit card easily.

Just forward your Credit Card details & we’re all good.🤓

Fred wrote:

The housing market is very commonly a mug's game.
Fools scramble to buy property at stupid prices because the estate agents tell them how they're going to make a mint on their investment - then the bubble bursts, and the idiots that bought have to sell cheap in order to dump the albatrosses around their necks.
Estate agents make a fortune from these Ancient Mariners, then retire to the sun on the money they parted from fools.
I'm amazed people are still stupid enough to do it, but they buy gold as an investment as well - and bitcoins - and .........

If I might be so bold as to suggest an alternative, I'll be happy to.
Just send US $250 and I'll share the details - you'll make a fortune.

My Nigerian brother-inlaw wants to get in on this fantastic opportunity. Can you please forward 500 USD to him so he can advise you how to invest the 250 USD that you receive.

Yogi007 wrote:

Ok.....
The $250 sounds reasonable, but I’m having trouble trying to send it thru to your account.....must be an interbank SWIFT code issue.😳

But.....I can pay it via BPay to your credit card easily.

Just forward your Credit Card details & we’re all good.🤓

My card number is 1234 2345 3456 4567
The pin is 123456
Internet banking password - morecashthanbrains


PS - The above is a lie - I don't have more cash than brains - I'm very poor

eileengu wrote:

Yogi007 wrote:

THIGV wrote:

So does that mean that the posters who have often told us of their purchases and the rental amounts that they expect to receive may be breaking the law?  I won't mention any names but I think you may know of whom I speak.

Ha ha ha....ah yes.
Well, there’s a new kid in town in Yogis neck of the woods.    He arrived with a bang, let everyone know who he was on FB and wherever else he could talk himself up.   

He’s told all and sundry about several apartments he’s bought off the plan . He’s splurged over $300k. He’ll live in one and rent the others out for his living income .  That’s his plan, early retirement in tropical  Vietnam as a property investor / real estate mogul.

However....there’s a few things this clown wasn’t aware of.   

1.  The building he’s bought into is “stalled” , developer has cash flow issues.
2. The developer is facing legal action to stop further construction.
3. The developers Bank has him, his family , his cat ,his dog and everything else by the balls.
4. The developers wife also has mortgages Secured by the land the building is on.
5 . The developers wife has cleared out with his remaining funds.
6. Suppliers, labourers, contractors , banks, street lenders haven’t been paid.
7. Bank has right of Vacant possession should the developer clear out.( likely scenario)
8. Developer has gambling debts
9. Developer has a new girlfriend.

To make matters worse the “budding “real estate mogul didn’t know the apartments are only bare rough concrete shells. He was shown a fully furnished display unit & thought that’s what he was getting.....nope. 😳

BUT....there is light at the end of the tunnel .

He doesn’t have to pay the final 5% if the developer doesn’t supply the pink book.
Another happy ending .   

Paw 🐾  Note.

For those with suicidal tendencies Yogi would exercise caution to any prospective buyers with regard to Off the Plan purchases....especially SE Asia.

Seems a lot of risks.

BTW, Can you be more specific?

1. Can we buy apartments in a completed building? Do such apartments exist? Or can we buy a second-hand apartment? 

2. Why the developer does not supply a pink book if all things go to this stage?

3. I read some articles indicates that a qualified developer has a “bank guarantee”. So can this avoid the pionts 1-9 you listed above?

Anyway, I suppose you already live in Vietnam for a term. So have you bought any property?

Thanks in advance.

---
Q2 is strange. The project is dead in the water. A TOTAL LOSS for stakeholders. (I have such a White Elephant building near my old condo outdie Bangkok. Running out of money when all it takes will be another 30%. Even most windows are in...

I don't think it is not true because a few days ago I had visited many real estates agencies. They have all recommended buying the property for 1) Investment 2) renting to the 3rd party to get additional money from property. so I think you can rend your property to someone.

Jerry Jun wrote:

I don't think it is not true because a few days ago I had visited many real estates agencies. They have all recommended buying the property for 1) Investment 2) renting to the 3rd party to get additional money from property. so I think you can rend your property to someone.

Did those agents also mention that they have bridges for sale. 

Jerry Jun wrote:

I don't think it is not true because a few days ago I had visited many real estates agencies. They have all recommended buying the property for 1) Investment 2) renting to the 3rd party to get additional money from property. so I think you can rend your property to someone.

Thanks for that information Jerry,

Yogi doesn’t think he could have slept tonight..not knowing that.🤓

We’ve finally got some clarity on the matter.  ALL the agents visited have given a BUY recommendation for property......and for good reason, they are all starting to sweat,,including our good mate Delafon.

I’ve mentioned this before....the banks here & in China are over exposed to debt from developers.  A lot of that finance only keeps rolling by refinancing & there’s a shortage of funds held to do that...hence the rise in deposit interest rates to attract money.    Nothing like taking money from mum & dad savers and throwing at developers that are about to go belly up.

This ain’t gunna end well.

"Dogs bark but the caravan moves..."


Source: SAIGON TIMES 11th April 209
Title: "Vietnamese Property Most Attractive in South East Asia according to Japanese Executive"
Article quotes:
- "The real estate market is the most attractive in South East Asia... said Yoshinori Nakata, Director of Japan's Gloval Link Cooperative... because of its safe and stable environment."
- "Japan's investment in Vietnam rose significantly between 2016 and 2018... The number of Japanese firms investing here in the country has surged, resulting in the increasing demand for offices and houses."
- "Many Japanese investors in Vietnam have said that the country has great economic potential..."
- "As many as 70% of Japanese businesses plan to expand operations in Vietnam, while some 88% expect their revenue in the market to grow in the future..."

No comments........

I like your Style

Dogs bark & caravans move.....

Woof woof woof......
But you better ask Donald about the caravan.😳
It might have hit a wall.

Not a good time for caravans...but remember the GFC ....a lot of property investors ended up in trailer parks,,,didn’t they.

Speculative property investing is all about timing.......the timing now in VN isn’t good.

Grrrrr,,,woof woof .

Yogi007 wrote:

I like your Style

Dogs bark & caravans move.....

Woof woof woof......
But you better ask Donald about the caravan.😳
It might have hit a wall.

Not a good time for caravans...but remember the GFC ....a lot of property investors ended up in trailer parks,,,didn’t they.

Speculative property investing is all about timing.......the timing now in VN isn’t good.

Grrrrr,,,woof woof .

I agree, just now, better to postpone a real estate investment and wait for a possible market adjustment.
The article above is more about a long term approach.

Hi, how did you rent the house, through agent or something? Have you got the ownership certificate because I heard that it is difficult to get that certificate which is time-consuming with lots of documents.

Hi there, I don't think foreigners are able to buy land in Vietnam. Is it possible?