I am not a expert. I may be wrong about ALL info in this video. Consult a real estate agent etc.
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13 Comments
Good luck on patreon! π
There are lots of land clearance issues that the government is starting to look at too. If someone is building, that's probably lucky at this point because so much of the land clearance is stalled.
That was actually informative. From what you saying, is it fair to assume that apartment market is in a slump?
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Great video ππβ€οΈ
A Vietnamese citizen can get a mortgage, there are a couple of banks that will allow a foreign spouses income to be counted in the mortgage (provided theoney is being made legitimately in VN and taxed etc) OCB, Standard Chart for sure have that option
I think this was one of your best videos.
Lol, of course you can get a mortgage in Vietnam. Where do you think the current real estate bubble is coming from? It's from all these people getting loans to buy land/property hoping to flip it in 3/6 months for a quick profit. That's what the government is trying to crack down now, to make sure people buying properties actually intend to live there.
I was in construction for over 30 years in the states and I see the cost of these places and the cost of the places in the states and here the price is higher, the quality is lower here and the size are about the same but here the workers are getting paid each day what a guy back home gets in half an hour. Someone is getting rich. I see prepay in a country where there is really no recourse to get your money back is insane. Just go buy a lottery ticket. Yes, a regular house here is 4 times cheaper than the states but the workmanship is DIY level. Leaky, plain old no detail, cheap built in furniture. By the time you get a house that is American level its the same price. I am looking at 2 bedroom condos in Honolulu and they go for $750K average and they were built with quality, licensed workers and building inspectors who don't take coffee money. If I buy in Vietnam it would need to be a finished project and reasonable or ground up with my specifications. I am lucky because I am retired and can be on the outskirts of town. town
Project may be finished but 100s of empty apartments will sit for years without tenants
No mortgages… wtf, the VN govt is losing π money big time. So much potential wasted. Some rent is better than nothing, and good service IS money. Agreed 110% π
Vietnam needs to change the tourist visa back to 3 months, and issue some kind of long term retirement visa if they want to sell all of these new developments to rich people looking for a long term stay in Vietnam.
Take the mask off π€£β οΈπ€£β οΈ. I've been here for 5 months as an investor, but I'm also retired at 38 years old, and a lot of what you said is not a lie. It's crazy that one apartment I looked at has been sitting empty for 2 years because they want $3200 USD, but it's only worth $1000 USD at the most. It is definitely a Vietnamese thing.