As much as I want to buy in VN, but due to the history of their practice by tricking Viet Kieu to invest there. Once the company start to grow the government changed the law and people lost everything. I hope they change that bad practice soon because we are ready to come back home soon. Thank Mr Duong
I think your worrying unnecessarily...you just have to use your common sense...like anywhere in the world you use property developers at your own risk...they can and do go broke. Where ever you choose to live rent first, get the lye of the land and a solid lawyer. I am a foreigner with Vietnam wife and we over the years have bought and sold many properties....There is a property close to me cheap. 100% river frontage. 5km from the city. If i was young i would buy it. Back fill it. Terrace it, put sewage in etc and build a mansion....Now, here it's a hot spring afternoon the children are playing... dogs are sleeping and every one just wait for that off shore breeze to come and cool everyone down before dinner in the most amazing of countries
@@samsungtap4183 VN is follwing the footsteps of CN. so the worry is very real . the govt will eventually take back everything you own . once the govt becomes bankrupt.
As long as vietnam government have not eliminate corruption issues among its party members and civil servants. Don’t ever invest in vietnam. Most of the time the rules and regulations are vague and even though there are many court cases against corruption but it seem like just a show only. It is very hard to get things done in vietnam without using back door. The party members really need to think for its people and future generations and not for individual own interests.
@@phuongha3113 without corruption vietnam economy should be triple from now! Triple foreign investment from now. Corruption just benefits a small group of people but corruption free benefits the entire nation! Just look at singapore and malaysia. Malaysia is equally corrupted like vietnam. So singapore or malaysia progress better?
@@SuperANDREWTAN Singapore is a democratic country. They can crack down on corruption much better than Vietnam because the people can vote out the corrupt people. In Vietnam they only crack down on the other fraction within the party that they don't like, while their own fraction in not investigated for corruption.
@@phuongha3113 Then please learn from China. They bring the entire country and people out of poverty in 30 years! They are same like singapore. 1st world country now. If China can do it. Vietnam can do it too. It got to do with a person’s integrity and how much they love the country. Don’t talk about whether the country is democratic or not. Malaysia is democratic too but how come it is so corrupted??? Come on. That is why i’m saying many court cases against corruption in vietnam is just putting up a show!
How is Vietnam going to recover the billions of dollars stolen in the banking scandal? I assume the properties are highly leveraged. Without the recovering the money, I don't see how Vietnam can recover in 24 months.
@@altran1125 Al, what do you mean "already been taken?" What's taken? You mean the missing money has been recovered? There is a slew of unfinished properties due to liquidity issues. If this money is recovered, why is Vietnam's central bank printing new money and injecting the $24B into its banking system to save it? Countless amounts of businesses closing as economic slowdown is taking effect. Do you, sir, know the nonsense you are peddling?
Only 50yrs lease for the farang, subway still struggling to complete, no retirement visa, weak rental mkt - no. When they finally look into these issues and iron them out in 10yrs time, ok.
@@collinreynolds9770 your money isn't made on rent... That's why many buildings ait empty .the money is made off increased value year after year .rent doesn't often cover the damage morons do to your buildings
In VN or in Asia in general, the real estate market is an investment meant to be rich quick, ie speculation. It’s no different to speculate the stock market in the west.
It will continue to drop further as it is all speculation and wage/ income don't support the $700k or $1M USD per condo in one of the poorest countries in the world.
@@Birdylocksono property prices are too inflated. It has more to go . It needs to drop significantly like China is going through now. Some of real estate are like 50-60% off especially in tier 2-3 cities. Saigon real estate is too inflated.
Foreign investor like me are struggling in the world economy too with high inflation. Rather invest in the SP500 instead of the Banana Republic law in Vietnam
@@Keano20 1% of the population, which is 1 million people, will disagree with you, as well as plenty of Koreans, Japanese, and other expats, who will buy up the $1M USD rather easily and quickly. Sorry that you are not one of these, but it doesn't mean they don't exist.
They can increase the value all they want to create an illusion but no one is buying in masse. Ppl are not that stupid. Let’s just say Vietnam lets 7 million foreign Vietnamese buy property, do you know what this would do to local housing affordability? There will be pitch forks in the streets if Vietnam buy Vietnamese citizens. Yes, foreign investment is important but locals must be protected. There needs to be balance.
I have a Vietnamese American friend who is considering moving to Vietnam. Can you do a program on the differences between the US and Vietnamese tax system?
Give you an example, my father opened a small plastic factory in 1977, the tax bill came and claimed that we had to pay tax bills from 1967, I meant are there any tax systems to compare? Bribe, bribe, bribe.....
Not true. That's western mentality...turn a quick buck. Actually Vietnam to me is the opposite. This obsession with making money for nothing out of real estate has destroyed wesson countries. You never see people sleeping on the streets here...ever ?
Same as China and most of Asia. How much I can make now and tomorrow will never come. Even Chinese Singaporeans say the same thing about China. That’s why Singapore developed it has solid foundations and a strict government and a legal system that can deliver justice.
One can buy property at Vietnam, when your'e citizen, or a relative of any citizen of Vietnam, since Taxation is implemented, in order to PROTECT its GDP, land, natural resources and its various resources. It is accounted in the inventories, be it exports, imports, it is always to reconcile its various ASSETS EQUIPMENT SUPPLIES that is TAXES BASED ALWAYS, EXAMINED that protects its ALL NATURAL RESOURCES from ABUSE or massive Land conversion. The Vietnamese Economy is active, overseas, per FRANCHISORS-FRANCHISEES and LICENSORS-LICENSEES Laws/Agreements making partner countries always reconciled with INVENTORIES asset SUPPLIES, EQUIPMENTS, MONEY/CASH SUPPLIES and NON CASH-ASSETS SUPPLIES-Protected GDP, natural resources for a lifetime.*****this is NON AI standards of excellence for communication, Truong ALL RIGHTS RESERVED.*****
Here is our video on how to BUY real estate in Vietnam as a foreigner: ua-cam.com/video/DP1DNy6bhuA/v-deo.html . The most misleading element is actually lack of knowledge.
Thx for the info Ken, last year riding in VN, i saw rolls of Luxury condos and Townhouses that were empty , feeling that it will take many months to slowly recover.
There are several issues that VN must address before foreigners will test the extremely overpriced real estate water. The government must have clear and concise real estate law that doesn’t change on a whim. Everyone must be treated equally, whether they are party member, regular citizen, or foreigner on buying/owning real estate. Allow freehold. Remove the visa barrier. Improve infrastructure, sanitation, and safety (flood & fire prevention, road improvement & maintenance, and most important of all air quality improvement & trash clean up/collection). And last but not least is eradication of corruption.
@@vietquoctrinh7648 Keep our investment in US, Rent but don't buy Condo in VN, less trouble and more time for fun. Viet Kiets' perspective, robbed us once, we're the victim, robbed us twice, we're the real suckers.
To put things into context, we moved from HCMC to my home country, a wealthy European nation, and we were able to rent a huge 5 bedroom/4 garage home with stunning views for the same price as a 3 bedroom shoebox in Vietnam located down an alleyway. We recently purchased a 4 bedroom Georgian townhouse for about a fifth of the price a similar sized house would cost in Vietnam. That’s in a country with free education that’s some of the best in the world. All these videos claiming Vietnam is a cheap country really need to look beyond these young guys who can’t believe they can get a beer for a dollar.
sir, can you do a video comparing how much a place would cost in hcm, other vietnamese major cities vs Da Lat, like if someone wanted to live in a cooler area but still be in VN how much the price difference would be. for example in Arizona, USA where it is blazing hot but some people prefer to live in Flagstaff which is a cooler area of AZ but costs much more and is considered a luxury.
The collapse of the real estate market worldwide reflects China's troubling economy. They were the only ones with that kind of money in the last 10 - 15 years. Unless there is another economy like China's, real estate price MUST collapse to its true worth. Like in the U.S., real estate agents in Vietnam are delusional. All properties today are truly only worth 40% to 60% LESS than their posted price.
I’m sorry but relying on speculative investment from foreigners isn’t sustainable for Vietnam economy in the long term. Real estate that cost 30x median GDP per capita is ludicrous. It is a constant RE bubble since the beginning. Too many regulatory hurdles and a weak banking/financial systems to foreign investors are major challenges.
The property prices are still too inflated. Sellers/borrowers are not allowed to do a short sale since a lot of these homes maybe underwater. Until that happens and until investors can get a descent deal I don’t think Vietnam real estate economy will improve anytime soon.
I appreciate you offering the real estate verification service. That’s extremely helpful to have a knowledgeable local to keep an eye on the important factors to consider when doing a real estate transaction. Keep up the great work Ken.
As someone who was ripped off by a swindle run by government offices in Binh Phuoc Vietnam on an agriculture investment run by the local government I can tell you that you do not want to invest in Vietnam. I was naive to think because my investment was run by the government that it was reliable. Corruption by local offices caused me to lose $30K. Thank goodness I did not lose more like investing in real estate. There is not much reliable about the rule of law in Vietnam. All foreigners are to be stripped clean of their money. THat is the the Vietnam way.
Viet Nam is still ultra corrupt. For investors, Viet Nam is just a source of cheap labor. Viet Nam is not a long term strategy. Its capital market is weak and highly highly corrupt , and many many other issues.
after 1975. A lot of people leave Viet Nam without permission from government to all over the world. I don’t know it can be call escape and the government charge them for immigration crime
@@duongglobalbusinessconsulting Lets me put it this way.There are millions of people leaving VietNam after 1975 to many refugees camp in South East Asia. My question is can they be charge leaving country without permission when they come back to VietNam or will be forgiven since it happened long ago?.Any Viet Nam law address this matter
@vuphuong5390, welcome to our channel and thanks for commenting. The answer is no. Over the past ten years, our law firm has helped more than two hundred families get the Vietnam citizenship based on ancestry and birth. We have compiled a video playlist of over 30 videos talking about it and would love for you to watch them: ua-cam.com/play/PL5AO8T9wDGttezBVJidcgP_I6mxd_yScv.html
It's crazy how much they are asking for unfinished condos, basically a gamble if you get the condo finished or not. Lease of the land doesn't matter much, you don't really own your land in the west anyways in comparison. Imagine 50 years of property taxes in the west is equivalent to how much you are paying upfront for it in VN.
Which countries in the West that you can't own land? Property taxes are usually used for local goods. Why wouldn't you want to pay that, unless you don't want your kids to be educated and no police protection? LOL
@@dnguyen787 Only a small percentage goes to school funding in the property tax. Cities and counties get their funding from sales taxes, not property taxes. Also, property taxes were supposed to be temporary to fund WW1 and WW2. If you owe or don't pay property taxes, your land is pretty much gone. There are also squatters, they can take your property without even paying for it. Not everyone is dependent on the government for their needs.
@@user-hp1gn5mg7c You didn't answer all my questions! Anyway, in the county where I live in USA, schools take 60%, police take 20%. I wonder where you live that sounds like in a developing country like Vietnam or China?? LOL
@@dnguyen787 I live in a country that cost first world price with 3rd world conditions called the US of A. My point is if you factor in the cost of leasing land from a country like Vietnam and paid upfront vs a country like the US that makes you pay for property taxes even after you already paid and purchase land. The taxes you paid in the US is way more than leasing land. if you think school takes in 60% of your property taxes, you are wrong. You need to check county tax and spending records. There are sale taxes, income taxes by state and federal, you are telling me those are not enough to pay for school? Not to mention there are also school bonds. Even with your 60% into school from property taxes, why are we not even ranked top 10 in global education? Take a look at Sweden, they don't pay as much and still able to reach top 3 in global education.
@@user-hp1gn5mg7c You have no idea what you're talking about! Why don't you do research on how property taxes used in King county of Washington state? Do you really think people don't pay taxes in Vietnam? They have a huge communist party of 10 million members. Do you think that they can live on water??? LOL
Buy a condo in Vietnam ? Do you have any videos with more info, utilities, insurance, condo fees ? Condo structural inspections ? Are condos required to have funds available for repairs ?
The bad thing is the bad quality of construction and the absence of maintenance. I bought apartment with high standard in HCMC. After half a year they need to repair cracks in the wall. I am happy to have sold the condo after 2 years. Every time I passed the building I must smile because I don't possess it any longer. 🙂
Like many comments already said. The real estate price is insane, especially in Thu Thiem, so much speculation that it will become the next Pudong of China, thus price have been skyrocketting. But it's still far from Pudong, at least for another 25 years. The current price seems to be living 10-15 years ahead. It's really stupid.
@vu5360 , as we said before, not all locals are on one bowl of pho per day! Population is nearly 100 million and there are people who can afford those places. No developers would invest if there was not a market for it. Check out our economic review video for more info.
@@duongglobalbusinessconsultingYes there are rich enough people buying these. I am not sure that rich population alone will be sufficient enough to buy up all these overpriced properties. The thing IS these rich people are not buying these properties to live in; they buy to “flip” or to rent it out. As you can see, this can only worsen the bubbling state of the VN real estate.
I’m interested in opening my own small micro hair salon in da Nang Vietnam small 12 by 12 space enough for 2 chairs and shampoo bowl, what’s the ball park price?
As someone with a little insight into sales in the US, it seems to be going the other way. Meaning Asians with ties to the US are selling out of Asia ans buying in the US. So many Asian mostly cash sales in LA/OC and New York. Houston too.
Vietnam is a smaller version of China, where the Communist Party exercises control over all aspects of life. Similar to China and North Korea, Vietnamese citizens do not have the right to land ownership. All land is considered "the property of the people" but managed by the communist government. This means, as long as your house sits piece of land, you are not its true owner. Vietnamese people can only obtain "land use rights," issued by the government and subject to renewal. When the term expires, it often requires bribing corrupt officials to renew the permit. Additionally, transferring property ownership also necessitates paying a bribe. If the local government wants your property, they have the legal right to take it, and such expropriations are common in Vietnam. Vietnam's construction is tofu construction since the materials, technology, investments... come from China. Look at the ghost cities in Hanoi, Saigon... The rich Vietnamese people in Vietnam, including communist party members are trying at all cost to buy US, Can, Aus passports or at least send their chilren away. If you are a true Vietnamese then you know this truth. The oversea Vietnamese people came escaped the communist party, they are not stupid to invest.
@@duongglobalbusinessconsulting The correct word should be 'near.' Vietnam's housing market is manipulated by China, the Vietnamese communist government, and their allies. This is a reality known by all Vietnamese people, including you.
@@duongglobalbusinessconsulting The correct word should be 'near.' Vietnam's housing market is manipulated by China, the Vietnamese communist government, and their allies. This is a reality known by all Vietnamese people
is so goods for the poor peoples like us! we can buy homeses and then live in thems with our monies!! glorious, glutinous bounties for the Vetnams!!! please bring prices down more good sirs for the poors! we can only pays in dong and dong has leetle values! helps us and tell sinisters brings us lowest prices please sir duong!
It has been over priced, there were also lacks of confidence. Comparing with local Vietnamese’ income, it is laughable telling the Oversea Vietnamese to invest. Haha. Two bedrooms $40k-$60k I would consider.
Vietnam for sure will have financial crisis like Thailand (100% guaranteed historically-Japan/Korea/Indonesia all went through it). When 1 USD buys 1000000000000000000000000 VND (maybe one more zero LOL), I will go buy apartment :)
Most investors in vietnam invest in land for huge capital gains in the past. They dont invest in condos and apartments! This fellow is making everyone confuse
Look at RE at China then know RE of VN, the best way to stay in VN : Rent or lease . Peace in mind and travel around, rent a studio at Laguna Beach California $3500 vs to a condo with window to Hon Chong beach ( Nha Trang) only $ 350 a month . 😊
even $350 they are saying too high compared to some "advanced" Euro country 😂 the country's super low cost of living certainly has not attracted the best & brightest.
@@Birdylockso serious. Best time to buy is when there is blood in the streets Warren Buffet. 4bdrm 2 bath 150 sq m apartment Chengdu $600 a month furnished You know a better deal?
@@mrbHanoi I think we are discussing buying as investment properties, not renting it. Your low rate of return just proved that buying isn't a good option in China at this time.
@@mrbHanoi It means nothing, unless you have purchased multiple properties in different countries. Have you? We are talking about investing in the real estate market, not travel experience.
@@altran1125 Jesus Al, does gender assignment really keep you awake at night? Surprised you even brought it up. Tell us what's your beef with LGBTQ folks? Did one of them make you question your sexuality?
I can only speak on the USA real estate market. It will get worst before it gets better! The market has entered into a decline phase and it will be awhile before the market establishes a new bottom. RE values have reached the heavens, where the majority of buyers are priced out of the market and can no longer afford to purchase. As builders keep building the supply will out pace the demand, bringing prices down. But then again, this is the normal cycle here in the USA.
The Cambodian Funan Techo canal will be kicked off the last quarter 2024 and completed 2028, after then no more fresh water runs to Khmer Krom, the KhmerKromese Kinh Annamese can not help leaving there, the property investors there will reap nothing.
Consider...1975 the Communists have taken over. So the Question becomes very quickly who owns what. The French records are incomplete or gone. So what can the so called government do ? Big big problem who owns what. What would you have done ? So children your assignment this week is what did the Hanoi government do ? Or what is a red book ?
@@duongglobalbusinessconsulting I live here and the prices are ridiculous. It's all fueled by money laundering and fraud. You should know this since you covered Mrs Lan's banking and real estate fraud.
Belt and Road initiative, provided the capital ? ...China always building stuff that no one really wants .... Chinese immigrant Labor .. Kenysian reforms without any returns
I’ve been buying and selling property in hcmc since 2017 never had an issue. U don’t need spend money on lawyers. If u don’t have common sense then get a lawyer.
@@duongglobalbusinessconsulting normal visa meaning 2018 I can on visa on arrival and I was able to open several bank accounts no issues also buy property no issues no need LAWYERS. your trying make money of the people by complicating things with whatever nonsense your saying. Asking me to prove everything I comment about. My Personal information not for the public. I have no reason to make up stories
Why people in VN don’t use the mobile home system like in the US? Since the citizen cannot own the land only using it (because the land is under the control of the Communist Party) would it be safer to pay the rent every month and have the ability to move somewhere else when the government retakes that land?
Thanks for answering my naive question. The between VN and US is in the US homeowners also own the land but in VN homeowners just Rent/Lease the land and have no rights whatsoever about it. Unfortunately uneducated people don’t understand it and still think they own the land because their families lived on that piece of land for centuries.
You can come to our Saigon office at the address mentioned in the video to meet Attorney Ken Duong. We will take the rest of the questions as your usual passive aggressive comments you redundantly make on this channel behind the protection of your keyboard, Alex Trinh.
As a foreigner in Vietnam I would not buy real estate here without a clear, easy and convenient Visa option
The Cinematography in Ken Duong's videos is amazing and entertaining. There should be an award! An award for Ken as well.
It's simple and the audio is so good for outdoors it doesn't distract at all. Doing that is harder than it looks.
As much as I want to buy in VN, but due to the history of their practice by tricking Viet Kieu to invest there. Once the company start to grow the government changed the law and people lost everything.
I hope they change that bad practice soon because we are ready to come back home soon.
Thank Mr Duong
I think your worrying unnecessarily...you just have to use your common sense...like anywhere in the world you use property developers at your own risk...they can and do go broke. Where ever you choose to live rent first, get the lye of the land and a solid lawyer. I am a foreigner with Vietnam wife and we over the years have bought and sold many properties....There is a property close to me cheap. 100% river frontage. 5km from the city. If i was young i would buy it. Back fill it. Terrace it, put sewage in etc and build a mansion....Now, here it's a hot spring afternoon the children are playing... dogs are sleeping and every one just wait for that off shore breeze to come and cool everyone down before dinner in the most amazing of countries
As a Viet Kieu I don’t consider Vietnam my home anymore even though I was born there. America is Home 🇺🇸
@@samsungtap4183 VN is follwing the footsteps of CN. so the worry is very real . the govt will eventually take back everything you own . once the govt becomes bankrupt.
@@samsungtap4183 It's easy for you to say, because you haven't lost anything yet!
As long as vietnam government have not eliminate corruption issues among its party members and civil servants. Don’t ever invest in vietnam. Most of the time the rules and regulations are vague and even though there are many court cases against corruption but it seem like just a show only. It is very hard to get things done in vietnam without using back door. The party members really need to think for its people and future generations and not for individual own interests.
Corruptions is what run Vietnam's economy. Without corruptions nothing gets done.
@@phuongha3113 without corruption vietnam economy should be triple from now! Triple foreign investment from now. Corruption just benefits a small group of people but corruption free benefits the entire nation! Just look at singapore and malaysia. Malaysia is equally corrupted like vietnam. So singapore or malaysia progress better?
@@phuongha3113 thats a lie
@@SuperANDREWTAN Singapore is a democratic country. They can crack down on corruption much better than Vietnam because the people can vote out the corrupt people. In Vietnam they only crack down on the other fraction within the party that they don't like, while their own fraction in not investigated for corruption.
@@phuongha3113 Then please learn from China. They bring the entire country and people out of poverty in 30 years! They are same like singapore. 1st world country now. If China can do it. Vietnam can do it too. It got to do with a person’s integrity and how much they love the country. Don’t talk about whether the country is democratic or not. Malaysia is democratic too but how come it is so corrupted??? Come on. That is why i’m saying many court cases against corruption in vietnam is just putting up a show!
How is Vietnam going to recover the billions of dollars stolen in the banking scandal? I assume the properties are highly leveraged. Without the recovering the money, I don't see how Vietnam can recover in 24 months.
@@altran1125 Al, what do you mean "already been taken?" What's taken? You mean the missing money has been recovered? There is a slew of unfinished properties due to liquidity issues. If this money is recovered, why is Vietnam's central bank printing new money and injecting the $24B into its banking system to save it? Countless amounts of businesses closing as economic slowdown is taking effect. Do you, sir, know the nonsense you are peddling?
The Vietnam real estate market doesn't make sense given what's available in other countries like Thailand at a lower price point.
but not as high as profits
Only 50yrs lease for the farang, subway still struggling to complete, no retirement visa, weak rental mkt - no. When they finally look into these issues and iron them out in 10yrs time, ok.
@@collinreynolds9770 your money isn't made on rent... That's why many buildings ait empty
.the money is made off increased value year after year
.rent doesn't often cover the damage morons do to your buildings
In VN or in Asia in general, the real estate market is an investment meant to be rich quick, ie speculation. It’s no different to speculate the stock market in the west.
Definitely don't make sense compared to Malaysia. That place is best value in ASEAN in my book.
Just like China, the Vietnamese housing bubble will soon come. With reduced sales, prices will have to fall sooner or later.
What you said has already happened early last year. So, it's recovering slowly now.
It will continue to drop further as it is all speculation and wage/ income don't support the $700k or $1M USD per condo in one of the poorest countries in the world.
@@Birdylocksono property prices are too inflated. It has more to go . It needs to drop significantly like China is going through now. Some of real estate are like 50-60% off especially in tier 2-3 cities. Saigon real estate is too inflated.
Foreign investor like me are struggling in the world economy too with high inflation. Rather invest in the SP500 instead of the Banana Republic law in Vietnam
@@Keano20 1% of the population, which is 1 million people, will disagree with you, as well as plenty of Koreans, Japanese, and other expats, who will buy up the $1M USD rather easily and quickly. Sorry that you are not one of these, but it doesn't mean they don't exist.
Always appreciate the updates, thank you
They can increase the value all they want to create an illusion but no one is buying in masse. Ppl are not that stupid. Let’s just say Vietnam lets 7 million foreign Vietnamese buy property, do you know what this would do to local housing affordability? There will be pitch forks in the streets if Vietnam buy Vietnamese citizens. Yes, foreign investment is important but locals must be protected. There needs to be balance.
Your like a beautiful bald Santa 🎅
We love u Ken
AUSTRALIA!!!!!!🇦🇺
He is great
so the issue is long term visas, how or why purchase a condo if cant easily stay long term?
I have a Vietnamese American friend who is considering moving to Vietnam. Can you do a program on the differences between the US and Vietnamese tax system?
One is rule of law. The other is rule of bribe 😂😂
Give you an example, my father opened a small plastic factory in 1977, the tax bill came and claimed that we had to pay tax bills from 1967, I meant are there any tax systems to compare? Bribe, bribe, bribe.....
@@luckybiby8968 bride? that's Chinese culture.
Great job !!
Vietnamese’s culture is how much money you could make right now. Future is totally insignificant.
Not true. That's western mentality...turn a quick buck. Actually Vietnam to me is the opposite. This obsession with making money for nothing out of real estate has destroyed wesson countries. You never see people sleeping on the streets here...ever ?
@@samsungtap4183 not true, you need to join the charities in the city to find out when they distribute the food to homeless on the street every night.
Same as China and most of Asia. How much I can make now and tomorrow will never come. Even Chinese Singaporeans say the same thing about China. That’s why Singapore developed it has solid foundations and a strict government and a legal system that can deliver justice.
@@sebastianniqvist3144 Cheat and enjoy the privilege as much as you can today, tomorrow's de@ath pen@alty is no Biggie.
why do you even watch this channel then? can't afford to retire in the West ?😂
You can lease property in VN, not buy. It’s misleading to say you can buy property in VN.
One can buy property at Vietnam, when your'e citizen, or a relative of any citizen of Vietnam, since Taxation is implemented, in order to PROTECT its GDP, land, natural resources and its various resources. It is accounted in the inventories, be it exports, imports, it is always to reconcile its various ASSETS EQUIPMENT SUPPLIES that is TAXES BASED ALWAYS, EXAMINED that protects its ALL NATURAL RESOURCES from ABUSE or massive Land conversion. The Vietnamese Economy is active, overseas, per FRANCHISORS-FRANCHISEES and LICENSORS-LICENSEES Laws/Agreements making partner countries always reconciled with INVENTORIES asset SUPPLIES, EQUIPMENTS, MONEY/CASH SUPPLIES and NON CASH-ASSETS SUPPLIES-Protected GDP, natural resources for a lifetime.*****this is NON AI standards of excellence for communication, Truong ALL RIGHTS RESERVED.*****
@@Rod-bp8ow its a long term lease bthat you can resell
You can buy houses in VN. But you don’t own the land, the govt does.
Here is our video on how to BUY real estate in Vietnam as a foreigner: ua-cam.com/video/DP1DNy6bhuA/v-deo.html . The most misleading element is actually lack of knowledge.
50 year land lease renewable after 50 years maybe ?
Thx for the info Ken, last year riding in VN, i saw rolls of Luxury condos and Townhouses that were empty , feeling that it will take many months to slowly recover.
Thank you , Ken.... for this Real Time Intel and analysis of the Vietnam R/E Market and Business Conditions. I'm glad I sub'd your Channel......
There are several issues that VN must address before foreigners will test the extremely overpriced real estate water.
The government must have clear and concise real estate law that doesn’t change on a whim.
Everyone must be treated equally, whether they are party member, regular citizen, or foreigner on buying/owning real estate.
Allow freehold.
Remove the visa barrier.
Improve infrastructure, sanitation, and safety (flood & fire prevention, road improvement & maintenance, and most important of all air quality improvement & trash clean up/collection).
And last but not least is eradication of corruption.
You are asking the Sun rises from the west.
@@luckybiby8968 Maybe million years later
@@luckybiby8968 Then, good luck with propping up the economy with real estate.
@@tran936 China real estate bubble 2.0.
@@vietquoctrinh7648 Keep our investment in US, Rent but don't buy Condo in VN, less trouble and more time for fun.
Viet Kiets' perspective, robbed us once, we're the victim, robbed us twice, we're the real suckers.
To put things into context, we moved from HCMC to my home country, a wealthy European nation, and we were able to rent a huge 5 bedroom/4 garage home with stunning views for the same price as a 3 bedroom shoebox in Vietnam located down an alleyway.
We recently purchased a 4 bedroom Georgian townhouse for about a fifth of the price a similar sized house would cost in Vietnam.
That’s in a country with free education that’s some of the best in the world.
All these videos claiming Vietnam is a cheap country really need to look beyond these young guys who can’t believe they can get a beer for a dollar.
Viet Kieu also understood these situations too well, my friend, you nailed it right on.
nobody ever said Vietnam RE was cheap. that was only in YOUR head.
rent is still very cheap. if you can't afford it, try Africa.
G'day Ken,
If I was going to do anything in Vietnam I would not do anything without your expert services.
Cheers
Louis Kats 👍
Thanks for the kind words, Louis, and everlasting viewership. We truly appreciate it.
@@duongglobalbusinessconsulting 👍👍👍
Vietnam is yet to be a "Dragon" state economy, but real estate is so expensive. I don't think it is a stable economy and its real estate is uncertain.
China hasn't reached dragon either
@@tonythaiger93 And the Chinese real estate has collaped.
@@tonythaiger93 China literally has 28% of global production. I think the world's factory is doing fine.
and you got your ph.D in economics from what university? 😂
Why would anyone buy in VN,when you can get so much more in Thailand, for the same price
Thank you Brother 🙏👍. See Sooooon
sir, can you do a video comparing how much a place would cost in hcm, other vietnamese major cities vs Da Lat, like if someone wanted to live in a cooler area but still be in VN how much the price difference would be. for example in Arizona, USA where it is blazing hot but some people prefer to live in Flagstaff which is a cooler area of AZ but costs much more and is considered a luxury.
The collapse of the real estate market worldwide reflects China's troubling economy.
They were the only ones with that kind of money in the last 10 - 15 years.
Unless there is another economy like China's, real estate price MUST collapse to its true worth.
Like in the U.S., real estate agents in Vietnam are delusional.
All properties today are truly only worth 40% to 60% LESS than their posted price.
I’m sorry but relying on speculative investment from foreigners isn’t sustainable for Vietnam economy in the long term. Real estate that cost 30x median GDP per capita is ludicrous. It is a constant RE bubble since the beginning. Too many regulatory hurdles and a weak banking/financial systems to foreign investors are major challenges.
With all the empty. unsold properties, I am waiting to hear about a price collapse. I am kind of surprised that it has not happened yet.
My thoughts exactly
The property prices are still too inflated. Sellers/borrowers are not allowed to do a short sale since a lot of these homes maybe underwater. Until that happens and until investors can get a descent deal I don’t think Vietnam real estate economy will improve anytime soon.
I appreciate you offering the real estate verification service. That’s extremely helpful to have a knowledgeable local to keep an eye on the important factors to consider when doing a real estate transaction. Keep up the great work Ken.
Thanks for your kind words.
As someone who was ripped off by a swindle run by government offices in Binh Phuoc Vietnam on an agriculture investment run by the local government I can tell you that you do not want to invest in Vietnam. I was naive to think because my investment was run by the government that it was reliable. Corruption by local offices caused me to lose $30K. Thank goodness I did not lose more like investing in real estate. There is not much reliable about the rule of law in Vietnam. All foreigners are to be stripped clean of their money. THat is the the Vietnam way.
Just remember that Vietnam's law doesn't allow land ownership, just the right to use.
The prices dont matter. Its the demand factor. Its all vacant homes
very informative segment. Thanks
The video is very informative. Keep up the good work .
Viet Nam is still ultra corrupt. For investors, Viet Nam is just a source of cheap labor. Viet Nam is not a long term strategy. Its capital market is weak and highly highly corrupt , and many many other issues.
Ultra corrupt? I think Japan and America is as or more corrupt than Vietnam.
sir your all explanations are very clear
Thanks and welcome
Some news on YouTub .Saying you can be arrested if you escaped from Viet Nam even years ago when you come back. Is it true?
escaped for what?
after 1975. A lot of people leave Viet Nam without permission from government to all over the world. I don’t know it can be call escape and the government charge them for immigration crime
@@duongglobalbusinessconsulting Lets me put it this way.There are millions of people leaving VietNam after 1975 to many refugees camp in South East Asia. My question is can they be charge leaving country without permission when they come back to VietNam or will be forgiven since it happened long ago?.Any Viet Nam law address this matter
@@vuphuong5390 They will be arrested. I know of several cases where this happened.
@vuphuong5390, welcome to our channel and thanks for commenting. The answer is no. Over the past ten years, our law firm has helped more than two hundred families get the Vietnam citizenship based on ancestry and birth. We have compiled a video playlist of over 30 videos talking about it and would love for you to watch them: ua-cam.com/play/PL5AO8T9wDGttezBVJidcgP_I6mxd_yScv.html
It's crazy how much they are asking for unfinished condos, basically a gamble if you get the condo finished or not. Lease of the land doesn't matter much, you don't really own your land in the west anyways in comparison. Imagine 50 years of property taxes in the west is equivalent to how much you are paying upfront for it in VN.
Which countries in the West that you can't own land? Property taxes are usually used for local goods. Why wouldn't you want to pay that, unless you don't want your kids to be educated and no police protection? LOL
@@dnguyen787 Only a small percentage goes to school funding in the property tax. Cities and counties get their funding from sales taxes, not property taxes. Also, property taxes were supposed to be temporary to fund WW1 and WW2. If you owe or don't pay property taxes, your land is pretty much gone. There are also squatters, they can take your property without even paying for it. Not everyone is dependent on the government for their needs.
@@user-hp1gn5mg7c You didn't answer all my questions! Anyway, in the county where I live in USA, schools take 60%, police take 20%. I wonder where you live that sounds like in a developing country like Vietnam or China?? LOL
@@dnguyen787 I live in a country that cost first world price with 3rd world conditions called the US of A. My point is if you factor in the cost of leasing land from a country like Vietnam and paid upfront vs a country like the US that makes you pay for property taxes even after you already paid and purchase land. The taxes you paid in the US is way more than leasing land. if you think school takes in 60% of your property taxes, you are wrong. You need to check county tax and spending records. There are sale taxes, income taxes by state and federal, you are telling me those are not enough to pay for school? Not to mention there are also school bonds. Even with your 60% into school from property taxes, why are we not even ranked top 10 in global education? Take a look at Sweden, they don't pay as much and still able to reach top 3 in global education.
@@user-hp1gn5mg7c You have no idea what you're talking about! Why don't you do research on how property taxes used in King county of Washington state? Do you really think people don't pay taxes in Vietnam? They have a huge communist party of 10 million members. Do you think that they can live on water??? LOL
Builders are foriegners so even though $16B in sale, how much of that would stay in VN.
Buy a condo in Vietnam ? Do you have any videos with more info, utilities, insurance, condo fees ? Condo structural inspections ? Are condos required to have funds available for repairs ?
Yes, we have 26 videos. Please watch the video playlist here: ua-cam.com/play/PL5AO8T9wDGtvqCkmirADetqcxXDtg5V-7.html
The bad thing is the bad quality of construction and the absence of maintenance. I bought apartment with high standard in HCMC. After half a year they need to repair cracks in the wall. I am happy to have sold the condo after 2 years. Every time I passed the building I must smile because I don't possess it any longer. 🙂
All the illusion
I just moved to HCM Grand Marina Marriott. Im renting short term and looking to buy it, but I wish there was some mortgage options for foreigners
How is it?
Thanks bro for the update .
Always welcome
Like many comments already said. The real estate price is insane, especially in Thu Thiem, so much speculation that it will become the next Pudong of China, thus price have been skyrocketting. But it's still far from Pudong, at least for another 25 years. The current price seems to be living 10-15 years ahead. It's really stupid.
housing in vietnam price too hight?????
How can the Vietnamese buyers buy these 500k USD condos with their tiny salary? Is the average or median salary still about 5k USD per year?
Sounds like money laundering, or unreported income from abroad.
@vu5360 , as we said before, not all locals are on one bowl of pho per day! Population is nearly 100 million and there are people who can afford those places. No developers would invest if there was not a market for it. Check out our economic review video for more info.
@@duongglobalbusinessconsultingYes there are rich enough people buying these. I am not sure that rich population alone will be sufficient enough to buy up all these overpriced properties. The thing IS these rich people are not buying these properties to live in; they buy to “flip” or to rent it out. As you can see, this can only worsen the bubbling state of the VN real estate.
Who is the best developer in Vietnam
Can u do a video on the new land law . For " overseas Vietnamese " .
And if the amendment will be done in July 2024.
We will.
I’m interested in opening my own small micro hair salon in da Nang Vietnam small 12 by 12 space enough for 2 chairs and shampoo bowl, what’s the ball park price?
Around $5,000.
@@duongglobalbusinessconsulting cam ơn for replying, what about a small house or apartment 1-2 bedroom? Thank you
$16B in sale but how much of that $16B is stay in VN. These builder are foriegners not local.
BRO, good info keep it up
Would love to see a myth-busting video about investing in Vietnam. We often only hear the horror stories so uncovering that would be helpful.
Most of hcmc projects had been going to sold out… majority are 80% above sold. Who’s buying?
Unsustainable
As someone with a little insight into sales in the US, it seems to be going the other way. Meaning Asians with ties to the US are selling out of Asia ans buying in the US. So many Asian mostly cash sales in LA/OC and New York. Houston too.
Biggest property crash yet to come in Vietnam
First domino of many to fall
Vietnam is a smaller version of China, where the Communist Party exercises control over all aspects of life. Similar to China and North Korea, Vietnamese citizens do not have the right to land ownership. All land is considered "the property of the people" but managed by the communist government. This means, as long as your house sits piece of land, you are not its true owner. Vietnamese people can only obtain "land use rights," issued by the government and subject to renewal. When the term expires, it often requires bribing corrupt officials to renew the permit. Additionally, transferring property ownership also necessitates paying a bribe. If the local government wants your property, they have the legal right to take it, and such expropriations are common in Vietnam.
Vietnam's construction is tofu construction since the materials, technology, investments... come from China. Look at the ghost cities in Hanoi, Saigon... The rich Vietnamese people in Vietnam, including communist party members are trying at all cost to buy US, Can, Aus passports or at least send their chilren away. If you are a true Vietnamese then you know this truth. The oversea Vietnamese people came escaped the communist party, they are not stupid to invest.
Where are the ghost cities in Saigon?
@@duongglobalbusinessconsulting The correct word should be 'near.' Vietnam's housing market is manipulated by China, the Vietnamese communist government, and their allies. This is a reality known by all Vietnamese people, including you.
@@duongglobalbusinessconsulting The correct word should be 'near.' Vietnam's housing market is manipulated by China, the Vietnamese communist government, and their allies. This is a reality known by all Vietnamese people
@@duongglobalbusinessconsulting
Have you seen those villas in the heart of Thu Thiem, barely anyone living there, any many unfinished ones.
Don't worry Comrade Duong, high-ranking Vietnamese Communist Party officials are still buying properties ... in the Good Ol' USA
Is that true that in July this year Vietnamese American can own property and have a red book under their name?
No.
you get a cheaper price for better quality and forever ownership in developed Malaysia (also land )
is so goods for the poor peoples like us! we can buy homeses and then live in thems with our monies!! glorious, glutinous bounties for the Vetnams!!! please bring prices down more good sirs for the poors! we can only pays in dong and dong has leetle values! helps us and tell sinisters brings us lowest prices please sir duong!
It has been over priced, there were also lacks of confidence. Comparing with local Vietnamese’ income, it is laughable telling the Oversea Vietnamese to invest. Haha. Two bedrooms $40k-$60k I would consider.
900 k USD?
Hey KEN i just got from HCMC and it was the hottest ever. How do you walk around in that suit?!
Kkkkkkk 😁 tôi làm xong công việc sẻ cởi ra ngay thôi 😁
He has A/C underneath his jacket 😅😂🤣
No Retirement Visa in Vietnam is a big problem for investors.
Sorry, its the truth.
It's bad in good karma, no visa no investment, it saved you from bank failure, property value crashed.
Condo units can take time to sell, and that’s normal.
Leasehold!!!!! Not for me.
It's catch the falling knife time🔪in Vietnam RE.
'houses are for living, not for speculation'
There are going to be ghost city in VN, and that's not just VN but all of south east Asia
Vietnam for sure will have financial crisis like Thailand (100% guaranteed historically-Japan/Korea/Indonesia all went through it). When 1 USD buys 1000000000000000000000000 VND (maybe one more zero LOL), I will go buy apartment :)
It sounds as certain as snow in Saigon!
Most investors in vietnam invest in land for huge capital gains in the past. They dont invest in condos and apartments! This fellow is making everyone confuse
They confisticated the ancestral land of the farmers for $0, of course it made huge profit.
This is true.
Look at RE at China then know RE of VN, the best way to stay in VN : Rent or lease . Peace in mind and travel around, rent a studio at Laguna Beach California $3500 vs to a condo with window to Hon Chong beach ( Nha Trang) only $ 350 a month . 😊
even $350 they are saying too high compared to some "advanced" Euro country 😂 the country's super low cost of living certainly has not attracted the best & brightest.
Just wait and see! The prices will fall further.
is good news’s! 10 percents is very goods for the owners! they will be in riches soon! glutinous results for capitol injectors!
Prefer Japan or China for 2 or 3 years
Are you being serious about China? You probably don't know China much.
@@Birdylockso serious. Best time to buy is when there is blood in the streets Warren Buffet. 4bdrm 2 bath 150 sq m apartment Chengdu $600 a month furnished You know a better deal?
@@Birdylockso crossed the ocean 60 times expat 36 years 10 years hivher ed speak 3 languages smarter richer than u think
@@mrbHanoi I think we are discussing buying as investment properties, not renting it. Your low rate of return just proved that buying isn't a good option in China at this time.
@@mrbHanoi It means nothing, unless you have purchased multiple properties in different countries. Have you? We are talking about investing in the real estate market, not travel experience.
your apartment is more expensive than Singapore.
Everything is backwards in vietnam
same as u bro
@@ducnguyen5356 are you nut?
@@ducnguyen5356why sour Vietnan is busy ripping each other off😂
@@altran1125 Jesus Al, does gender assignment really keep you awake at night? Surprised you even brought it up. Tell us what's your beef with LGBTQ folks? Did one of them make you question your sexuality?
@@altran1125 Yue nan 😁 a korea wannabe but doesn’t have the charisma like them 😵💫
I can only speak on the USA real estate market. It will get worst before it gets better! The market has entered into a decline phase and it will be awhile before the market establishes a new bottom. RE values have reached the heavens, where the majority of buyers are priced out of the market and can no longer afford to purchase. As builders keep building the supply will out pace the demand, bringing prices down. But then again, this is the normal cycle here in the USA.
@@altran1125 oh... common? What is the average salary of Vietnamse?
The problem is the average income of the local is only few hundreds dollars/month.
Chinese still against…
Property cost of hundred thousand dollar, and a little rain turn your property into swiming pool. 😅
The Cambodian Funan Techo canal will be kicked off the last quarter 2024 and completed 2028, after then no more fresh water runs to Khmer Krom, the KhmerKromese Kinh Annamese can not help leaving there, the property investors there will reap nothing.
Vietnam real estate is very inflated and to get your ROI would be years !
$700K can get you a very nice big house in Plano Texas.
Consider...1975 the Communists have taken over. So the Question becomes very quickly who owns what. The French records are incomplete or gone. So what can the so called government do ? Big big problem who owns what. What would you have done ? So children your assignment this week is what did the Hanoi government do ? Or what is a red book ?
Be careful with the numbers they said
What do you mean?
@@duongglobalbusinessconsulting the book could be cooked
1.2 million USD????? In a communist economic market???? I don't understand......please explain
Have you been to Vietnam lately?
@@duongglobalbusinessconsulting I live here and the prices are ridiculous. It's all fueled by money laundering and fraud. You should know this since you covered Mrs Lan's banking and real estate fraud.
KEN DOUNG BIG VK PAPA
Belt and Road initiative, provided the capital ? ...China always building stuff that no one really wants .... Chinese immigrant Labor .. Kenysian reforms without any returns
This downward trends will continue for another decade.
Why do you think so?
No no no, it's just your guess. Real estate corrupted, it'll rise 5-8 years next
I’ve been buying and selling property in hcmc since 2017 never had an issue. U don’t need spend money on lawyers. If u don’t have common sense then get a lawyer.
Don't say that here. Ken needs some business. 😅
Some even have said one can open a bank account in Vietnam with a Tourist Visa. Commenting costs nothing and it is not verifiable either.
@@duongglobalbusinessconsulting go do ur own research and let the people know. I have opened several bank account with normal visa. Not TRC
What is a "normal visa"? Out of the 32 categories of visas we work on, we never heard of the "Normal Visa".
@@duongglobalbusinessconsulting normal visa meaning 2018 I can on visa on arrival and I was able to open several bank accounts no issues also buy property no issues no need LAWYERS. your trying make money of the people by complicating things with whatever nonsense your saying. Asking me to prove everything I comment about. My Personal information not for the public. I have no reason to make up stories
lease better
Dont buy….so many unfinished projects
👍✅🙀✅👍
❤❤❤❤❤❤
And everything else will follow😒
Tofu dregs buildings unfinished road unfinished buildings ghosts towns in Malaysia
Why people in VN don’t use the mobile home system like in the US? Since the citizen cannot own the land only using it (because the land is under the control of the Communist Party) would it be safer to pay the rent every month and have the ability to move somewhere else when the government retakes that land?
Many are tenants already.
Thanks for answering my naive question. The between VN and US is in the US homeowners also own the land but in VN homeowners just Rent/Lease the land and have no rights whatsoever about it. Unfortunately uneducated people don’t understand it and still think they own the land because their families lived on that piece of land for centuries.
What's career you want doing in Việt Nam Ken ? 😅😅😅 Realtor, News reporter, lawyer, which one is real you ?
Your law office is still in activity?
You can come to our Saigon office at the address mentioned in the video to meet Attorney Ken Duong. We will take the rest of the questions as your usual passive aggressive comments you redundantly make on this channel behind the protection of your keyboard, Alex Trinh.
The only thing that makes me think to move and live the last episode of my life in the southeast asia its for buddhism and women🤣🙏🏻❤️🇻🇳🇹🇭🇰🇭