Site Search:
 
Get TEFL Certified & Start Your Adventure Today!
Teach English Abroad and Get Paid to see the World!
Job Discussion Forums Forum Index Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Students and Teachers from Around the World!"
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

House prices
Goto page Previous  1, 2, 3
 
Post new topic   Reply to topic    Job Discussion Forums Forum Index -> Vietnam
View previous topic :: View next topic  
Author Message
Okie from Muskogee



Joined: 31 Jan 2014
Posts: 55

PostPosted: Thu Sep 18, 2014 9:21 pm    Post subject: Reply with quote

I find MD, BK, etc. are luxuries here. I used make runs to Thailand just to satisfy my craving when they wasn't around. I say it's luxuries because to have something that you want half way across the world from home is luxury. It's like having home roasted turkey with all the fixins' and baked apple/cherry pie.

As for saving enough doe to buy a house, you ain't gonna save enough money in VN to buy a nice livable house anywhere. Get out of VN and go back home to save money.
Back to top
View user's profile Send private message
mark_in_saigon



Joined: 20 Sep 2009
Posts: 834

PostPosted: Fri Aug 11, 2017 3:55 am    Post subject: update on buying property Reply with quote

http://tuoitrenews.vn/news/business/20170806/only-15-foreigners-viet-kieu-own-houses-in-ho-chi-minh-city/40900.html

So this story says that since 2015 when they had a relaxation in the laws allowing foreigners to buy property here, a total of 15 foreigners have purchased a property. This includes Viet Kieu (probably is almost entirely VK), and is for HCMC. One would guess that means no more than 50 in the entire nation (extrapolating here). Of course, guys who give money to their VN wives and buy that way are not included in this figure.

I know lots of VK are invested here, they must buy through a family member, because 15 in 2 years in HCMC is nothing, no way can that account for all the VK who own property here.

I was considering buying a house (not in a big city), as I have seen some prices that are acceptable and make renting seem not so compelling. But this story seems to imply that it is next to impossible to actually get a purchase approved.

Does anyone have any current info on this topic?
Back to top
View user's profile Send private message
Prof.Gringo



Joined: 07 Nov 2006
Posts: 2218
Location: Dang Cong San Viet Nam Quang Vinh Muon Nam!

PostPosted: Thu Sep 07, 2017 3:12 am    Post subject: Reply with quote

Okie from Muskogee wrote:
I find MD, BK, etc. are luxuries here. I used make runs to Thailand just to satisfy my craving when they wasn't around. I say it's luxuries because to have something that you want half way across the world from home is luxury. It's like having home roasted turkey with all the fixins' and baked apple/cherry pie.


Kinda agree on this one. None of the western fast-food chains has done well here unless they were selling chicken: KFC, Jollibee & Lotteria.
But McD's, BK, Subway etc have all performed poorly and well below expectations. Heck, even Wrap n' Roll has closed four stores LOL Razz
At least a Royal with cheese is served hot in HCMC unlike the stone cold Lotteria puckets they serve half-frozen more than half the time.

Okie from Muskogee wrote:
As for saving enough doe to buy a house, you ain't gonna save enough money in VN to buy a nice livable house anywhere. Get out of VN and go back home to save money.


AMEN.

Cool Laughing Razz
Back to top
View user's profile Send private message
Prof.Gringo



Joined: 07 Nov 2006
Posts: 2218
Location: Dang Cong San Viet Nam Quang Vinh Muon Nam!

PostPosted: Thu Sep 07, 2017 3:15 am    Post subject: Re: update on buying property Reply with quote

mark_in_saigon wrote:
http://tuoitrenews.vn/news/business/20170806/only-15-foreigners-viet-kieu-own-houses-in-ho-chi-minh-city/40900.html

So this story says that since 2015 when they had a relaxation in the laws allowing foreigners to buy property here, a total of 15 foreigners have purchased a property. This includes Viet Kieu (probably is almost entirely VK), and is for HCMC. One would guess that means no more than 50 in the entire nation (extrapolating here). Of course, guys who give money to their VN wives and buy that way are not included in this figure.

I know lots of VK are invested here, they must buy through a family member, because 15 in 2 years in HCMC is nothing, no way can that account for all the VK who own property here.

I was considering buying a house (not in a big city), as I have seen some prices that are acceptable and make renting seem not so compelling. But this story seems to imply that it is next to impossible to actually get a purchase approved.

Does anyone have any current info on this topic?


15 in 2 years in HCMC. Anyways many are screaming about a property bubble about to burst so it might be a favor in the long run. And agree that most of the foreign expats own property through their wives. I would think the VK keep it in the family, not in the wife's name LOL Very Happy Any info on that?
Back to top
View user's profile Send private message
mark_in_saigon



Joined: 20 Sep 2009
Posts: 834

PostPosted: Thu Sep 07, 2017 11:25 pm    Post subject: Reply with quote

Quote:
And agree that most of the foreign expats own property through their wives. I would think the VK keep it in the family, not in the wife's name LOL Very Happy Any info on that?


I rented a house long term that SUPPOSEDLY was in the ownership of the lady who lived in this house on the other side of the common wall. It was hers through her husband, who had it through his mother, who managed the property of HER husband who had it from his lucky situation in earlier years. FINALLY, this lady I had paid rent to for many years was told she was going to have to move, because the real owners were selling it. And by the way, her son in law's mother made a big move on trying to take ownership of it over the fact the young couple had married and had a son. With the amazingly high sales prices many of these houses are going for, true ownership of a house in HCMC is of major import.


I have found that this stuff gets incredibly convoluted, and couple this with the fact that any given VN will talk of a property as "his" (or hers), when true ownership may indeed reside elsewhere, and it is really speculation. And these folks will have major fights with each other over ownership when death in the family, birth of a child (especially a boy), disfavor of a family member or some other major event takes place. My guess is about 6 different people would say the house was his (or her) property if asked. Many of these guys have a clear pride of ownership of property, maybe not the kind of pride that makes you keep the paint fresh, but the kind that makes you claim it is yours. Whatever I hear about financial or economic matters, I just consider it a possible thread of data, the real underlying truth can be something very different.

I have found some quite reasonable prices on newish houses in some less populated areas, and am toying with the idea of buying. Not so much for investment, I am very happy to have my shekels in the west, but it would be nice to have a place that is mine (to the extent anyone actually owns property in VN).

I do think most western guys eventually give up and buy in the name of a VN partner, and my understanding is that it is rare indeed for western money to be invested in Asian real estate and then eventually returned to the west.
Back to top
View user's profile Send private message
DauntlessinDanang



Joined: 07 Feb 2017
Posts: 10

PostPosted: Sat Sep 09, 2017 12:58 am    Post subject: Reply with quote

Buying land and building a house with the right spouse here, IMO, puts you in a different place, sort of an "I'm here to stay" mentality of being fully committed to someone and something. Sort of a "this is the only place or the best place or the last place for me" kind of thinking. Most foreigners married to Vietnamese women in these parts would love the chance to buy and build but simply don't have the finances to make it happen. Land prices in Da Nang have leveled off since the last big boom, but corner lots in our area (Hòa Hải, about halfway between Da Nang and Hội An) now run in the neighborhood of 1.8 to 2 billion for bigger lots (7x20, 10x20, etc.) and 2.5 to 4.5 billion for anything close to the beach. Standard lots (6x16, 5x20, no corner) about 7 clicks rom the beach are now in the 1.2 billion ballpark. Building and construction prices have also escalated in the last year or so, but a nice, well-designed 2-bedroom now costs roughly 1 to 2 billion and up, depending on the style and size. Happy house hunting!
Back to top
View user's profile Send private message
mark_in_saigon



Joined: 20 Sep 2009
Posts: 834

PostPosted: Sat Sep 09, 2017 2:48 am    Post subject: Reply with quote

Thanks for the interesting information.

I have seen fairly small but adequate houses for sale in the delta for about 20,000. In my opinion, based on generally accepted return on investment calculations, this is a somewhat fair and realistic price. It seems to me that properties in HCMC can often be valued about 4 times what the house would be valued for in the west, based on the rental return. And this is not to say that these prices could not double again and again without regard to what western experts would consider logical.

Anyway, these smaller houses in cities of perhaps 200,000 people seem to be at least somewhat realistically priced.

In the west, if monthly rent times 11 years of payments equals the sales value of a house, that is pretty good, and worth buying. When it turns into 20 years or 30 years, it is very speculative, in my opinion.

Of course, there are many other details we discussed on this topic in years past, if anyone is interested he/she may want to review earlier pages. Like, where I see these decent values, a large part of the city has been reclaimed from the sea, which seems pretty scary to me.

I find it to be a real negative that the govt has changed the laws but their enforcement of the laws means that foreigners are still locked out regardless. About being fulling committed, to me, owning a property means it is yours to sell if need be. It does not mean I have to forfeit my investment in case of something crazy happening. Crazy things do happen
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    Job Discussion Forums Forum Index -> Vietnam All times are GMT
Goto page Previous  1, 2, 3
Page 3 of 3

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


This page is maintained by the one and only Dave Sperling.
Contact Dave's ESL Cafe
Copyright © 2016 Dave Sperling. All Rights Reserved.

Powered by phpBB © 2001, 2002 phpBB Group

Teaching Jobs in China
Teaching Jobs in China