What are the typical property prices/sqm for freehold condominiums in Vietnam?
The typical prices/sqm for a freehold condominium in a good location in the big cities in Vietnam are between VND 45,000,000 and 160,000,000 (USD2,000 to 7,000), depending on the quality of the developments and its amenities.
Can foreigners own VIETNAM properties under their own name?
Since 1st July 2015, any foreigner with a valid visa (whether resident or tourist) can buy property in Vietnam on a 50-year ownership with 1-time renewal possibility. Foreigners married to Vietnamese citizens are able to get freehold tenure. Foreigners are allowed to lease, mortgage, contribute as capital, gift, bequest, exchange, etc subject to certain limitations.
There are some restrictions: foreigners can only purchase from developers who are licensed to sell to foreigners and are not able to purchase from Vietnamese individuals. Foreigners can purchase no more than 30% of total units of a development or a maximum of 250 houses in any one administrative ward.
Do I have to go to Vietnam in order to purchase a property?
Yes, you only need to fly to Vietnam one time to sign the Sales & Purchase Agreement and open a Vietnam bank account. Our company in Vietnam will make arrangements for your best hassle-free experience.
Which part of Vietnam should I invest in?
There are many options for you to consider when it comes to Vietnam’s property market. There are key cities like Hanoi - the capital, Ho Chi Minh City (formerly Saigon) - the commercial capital and Da Nang, often known as the beach resort city. Golden Emperor’s sales representatives with the expertise in Vietnam’s market will assist you in choosing the right place for your investment.
How do I choose the right location?
There are different strategies in choosing the right location for different cities. In HCMC and Hanoi, the strategy is to choose properties that are near the new CBD development that comes together with significant undergoing infrastructure developments such as Metro (MRT) and international airport. In resort destinations such as Danang, it is best to choose a unit by the beach with spectacular ocean views along the pristine Central Coast and is not too far from the airport. Please speak to our sales representatives to learn more about the different strategies and options available to you.
What are the buying costs for Vietnam Property?
The buying costs for Vietnam freehold condominiums are typically:
What are the selling costs for Vietnam property?
The selling costs for Vietnam freehold condominiums, which are payable when you sell away your properties after completion, are typically:
Are there any selling costs/taxes if I sell away my property before completion?
There is a flipping cost at 2% on down-payment amount paid if you sell away your Vietnam property before completion.
Who are the typical tenants of my Vietnam property investments?
In HCMC and Hanoi, the typical tenants are Western and Asian expatriates. There are many Korean and Japanese automobile companies running factories around HCMC and Hanoi. Foreign engineers, senior management and employees are your typical tenants for HCMC and Hanoi properties (especially in Nam Tu Liem for Hanoi and District 2 for HCMC). Foreigners from Western companies with professional services businesses and offices located in the existing CBD also represent the cities’ rental tenant mix.
In resort destinations such as Danang, most of the properties are managed by Hotel Management companies under vacation home with profit sharing schemes.
Why should I invest in Vietnam property now?
Vietnam property market is picking up together with its economy growth, especially in direct foreign investment and manufacturing industry coming along with significant new infrastructure developments. Many factories from big international companies are shifting from China to Vietnam given its young population and great offers in labor market. The relaxed Foreign Ownership Law effective since 2015 makes Vietnam even more attractive as an investment destination. Vietnam property prices are still relatively low and the rental yield is very attractive. Vietnam currency has always been week against USD and other currencies, hence creating great buying opportunities for international property investors. With its stable political situation, investors can expect a safe and secured long-term investment with good potentials for capital appreciation.
Danang has always been a hot spot for beach tourism in Vietnam with direct flights from many countries, especially Hong Kong, Macau, Singapore, Vietnam, Taiwan, Korea, Japan… which makes it the biggest second-home investment destination. Being voted as the most worth-living city with lifestyles and one of the 6 most beautiful beaches in the world, Danang is now attracting more and more investors from both Vietnam and regional countries who are looking for a good balance between investment and lifestyle.
Contact us as soon as possible if you have an interest. We have a team of specialists including Viet lawyers to assist you throughout the entire process.