Property For Sale Vietnam
Find Vietnamese real estate for sale at Homesgofast.com the world’s no.1 International For Sale By Owner website where you will find real estate for sale ideal for foreign buyers looking to buy property in Vietnam. Search homes for sale in regions including the popular Ho Chi Minh City, Hoi An, Da Nang, the capital of Vietnam’s dynamic Central Coast and Hanoi. Luxury homes for sale Quang Nam Province and superb apartments ideal as holiday homes in District 9. Find property for sale in Phu Quoc Kien Giang Provence that would make ideal holiday rentals or AirBnB investment property.
How to buy property in Vietnam
Over the last few decades, Vietnam has grown to become one of Asia’s promising investment destinations. Since the 1990’s, Vietnam has been enjoying an annual GDP growth of 7%. This has made the Southeast Asian country a veritable haven for investors and foreigners. There is increasing interest in Vietnam as a manufacturing alternative to China as a result of an increase in production costs, more regulations and an uncertain Chinese Economy. Another area where Vietnam is attracting tremendous attention is in the property industry. The economic growth of this Southeast Asian nation has tremendously benefited the property market, making it one of the best ways to gain from the strong economy.This article will cover some of the details you need to know about buying and owning property in Vietnam.
Vietnam Beachfront Property for Sale
Despite the country’s decades-old history of struggle, Vietnam remains a fascinating country. Vietnam has a rich culture and a colourful history as well as a long rich coastline that runs from the Gulf of Tonkin all the way through to the Gulf of Thailand. If your intention is to own a beachfront property in Vietnam, you will find that there are limitless options to choose from. The country has a coastline of more than 3000 kilometre square with rolls and rolls of pristine white beach sand. Even though tourism may not be as popular in Vietnam as it is in Thailand, Nha Trang and Da Nang boast a stretch of beaches that would make for a good beachfront property.
While a lot of property investors would prefer to buy properties Hanoi or Ho Chi Minh, Da Nang stands out as a popular choice for rich foreigners and retirees. It is a busy beachside city with over a million in population and is the third largest city in Vietnam. Foreign brands such as Sheraton and Hyatt have hotels and condos in Da Nang making it a more attractive investment destination of people looking for a bit of sun and sand. Nha Trang on the other hand, while closer to Ho Chu Minh than other beach areas is rapidly becoming popular among people looking for a beachfront property for their second home or a holiday getaway.In terms of preference, Da Nang would probably make a better beachfront investment destination than Nha Trang but they both provide the perfect beachfront properties for sale in Vietnam.
Can Foreigners Buy Property in Vietnam?
Not too long ago, the chances of owning a property in Vietnam were practically non-existent, but this changed in the summer of 2015 when the Vietnam government relaxed their rules on property ownership by foreigners. Just about anyone with a long duration tourist visa or residence visa can take advantage of the new 50-year land lease arrangement to own land and property. For foreign organizations, the restrictions are even lesser.
In July of 2015, decades-long restrictions on property ownership by foreigners were changed as long as the interested individual is able to meet a few criteria. According to the new law, any foreigner who wants to buy a property in Vietnam will have to take out a 50-year lease on the land where the property is located. This is because land in Vietnam is not owned by any one person and cannot be sold out. However, the land is managed by the government. Foreigners and foreign companies can buy or own properties in commercial projects, but they will still be unable to buy in locations that restrict sales of properties to foreigners. In any given block, at most 30% of the apartments and 250 houses in a block can be bought up by foreigners but once this number is exhausted, the interested party will have to look at another block or ward.
Foreign Property Ownership in Vietnam
As explained above, foreigners can now buy and own properties in Vietnam provided they are willing to follow the current laws on property ownership by foreigners. For example, before a foreigner or foreign company can own property in Vietnam, they would first have to take out a 50 year lease on the land where the property is located. There are indications that this rule may change in the future. The number of years may possibly be extended or the property owner given the opportunity to buy the land outright. As a result of this lifting in restrictions, the property market in Vietnam is already experiencing an influx of foreign investors. A foreign investor may also team up with a local partner to buy properties in Vietnam, while the no ownership of land policy still holds; there are several benefits when buying with local help. Foreigners who live in Vietnam can own houses but cannot sublet them. However, they can sell, donate or give these properties. But where their residency is terminated and they could not dispose off or sell these properties, after 90 days, it automatically reverts to the ownership and management of the state.
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How Cheap are Houses in Vietnam?
The cost of houses in Vietnam like everywhere else all over the world is determined by the location you plan on investing in. Many property investors look to places like Hanoi and Ho Chi Minh (formerly Saigon). It goes without saying that these locations will be more expensive than places like Dong Da, which have very few foreigners thus making it a good investment potential and Hai Ba Trung. It is important to point out that one major difference between the property market in Vietnam and the rest of the world is that the transaction is done solely with Gold rather than cash. This gives property sellers an edge as the Vietnamese Dong is one of the weakest currencies in the region.
Buying Properties in Hanoi
Hanoi is the nation’s capital city and so has a completely different property market structure. Because it is more of a political center than a financial hub, investors would rather go to commercial cities such as Ho Chi Minh. This makes Hanoi not a very good focus for foreign property investors. On the other hand, the slew of foreign embassies and NGOs located in this area can compensate for the lack of busyness or commercial frenzy.
Rental yields remain high in HCMCApartment rental yields in HCMC remain high at around 5.8% during the second half of 2017, according to Savills World Research’s
Saigon Intela in Binh ChanhTopaz Elite- Phoenix 1&2 in District 8Tara Residence in District 8Lavita Charm in Thu DucMasteri An Phu in District 2HCMC’s newly launched condos have the following asking prices:In District 2, condo prices ranged from US$ 1,700 to US$ 3,500 per sq. m. at the end of Q4 2017, according to Colliers.In District 7, prices range from US$ 1,100 to US$ 1,500 per sq. m.In District 8, condos range from US$ 850 to almost US$ 1,000 per sq. m.In District 9, condo prices range from US$ 990 to US$ 1,100 per sq. m.Other new condo projects are located in Binh Chanh (US$ 793 per sq. m.), Go Vap (US$ 1,058 per sq. m.), and Thu Duc (US$ 1,146 per sq. m.)
Any Mortgages for Foreigners in Vietnam?
When acquiring property in a foreign market, it is important to take note of the financial aspects. In Vietnam, as at the time of writing this piece, the mortgage system is not well developed. While it is possible to get lending for a property as a foreigner, you should not expect to get a generous loan or terms considering how young and undeveloped the country’s mortgage system is. A lot of mortgage providers will expect at least a 30% deposit, although there are a few that may be willing to accept 20%. The interest rate on the mortgage is not fixed; it can change every 3 months or as often as policy dictates. Additionally, the interest and principal are paid separately. This means that you pay the interest every month but can choose to pay the principal monthly, quarterly or yearly. The maximum number of years a mortgage can run is 25 years although you may be lucky to find a few willing to accept 30 years.
With its exciting history, colourful culture and natural beauty, it is no surprise that more and more foreigners are rushing to take advantage of the removal of restrictions on property ownership by foreigners in Vietnam. Even though there may still be a few hiccups, there is little doubt that this development will continue to attract investors and adventurers.
For sale by owner Vietnam
Homesgofast.com advertise homes for sale for owners who seek to find an overseas buyer for their property. We list cheap property including apartment and villas to luxury beachfront property worth millions of US dollars
Previously listed homes for sale
House for sale in Go Vap DistrictPhan Huy Ich St., Go Vap District, Ho Chi Minh CityHouse for sale in Go Vap District, HCM City – Area: 3.5m*11.25m – 1GF 2 stories and Flat Roof – 3-bedroom, … Phan Huy Ich St., Go Vap District, Ho Chi Minh CityExtremely cheap house for saleVery cheap house for sale, near the beach, schools, market, but quiet, clean and modern. 91.9 m2. Two … 2/4 StreetLuxury Villa Mui Ne Beach Area for sale C42 Khu Biet Thu Mui Ne (Mui Ne Domaine) Phu Hai Ward, Binh Thuan Province Phan Thiet City, Vietnam Phan Thiet3 bedrooms/3 full bathrooms Fully furnished, equipped kitchen All amenities, spacious Western Style floor … C42 Khu Biet Thu Mui Ne (Mui Ne Domaine) Phu Hai Ward, Binh Thuan Province Phan Thiet City, Vietnamlast month Fully furnishedHouse for Sale VCN Phuoc Hai Nha TrangVCN Phuoc Hai Nha TrangModern Western Style house in VCN Phuc Hai area, Nha Trang. Four Levels 3 bedrooms Movie Room Office 2 … VCN Phuoc Hai2 months ago Service charges included | Fully furnished6 bedrooms big house for sale in Hoi An Ancient City.6 bedrooms big house for sale in Hoi An Ancient City.240000The Ocean Estates – The Ocean Resort, Hoa Hai ward, Ngu Hanh Son district, Da Nang, VietnamJust 2 minutes walking to the stunning ocean. Next door to a world-class golf course designed by Greg Norman. … The Ocean Estates – The Ocean Resort, Hoa Hai ward, Ngu Hanh Son district, Da Nang, Vietnam
Popular locations to buy property in Vietnam
Ba Ria – Vung Tau, District 2Ha NoiNha Be DistrictSon Tra District Binh DuongDistrict 3Ho Chi MinhNha Trang CityThua Thien Hue Cau Giay DistrictDistrict 7Khanh HoaPhu Loc District Da NangDistrict 9Long Bien DistrictPhu Nhuan District District 1Dong NaiNgu Hanh Son DistrictQuang Nam-da Nang
Buying Property in Phu Quoc
The idyllic island will have real estate opportunities develop over time as the island becomes one of the hot spots for holidays and vacations that centre around a beach