$1300 Luxury Apartment Tour | Sunwah Pearl "Golden House" Tower Vietnam

[@TheNamDude]

Very nice and very expensive. Seems like excellent quality and has a great view. My wife looked at apartments for sale at Vinhomes Central Park April 2022 and a one bedroom with a view was around $120,000 U.S.

[@TrangVergara]

Vinhomes Central for that price is great. There is no reason to leave that enormous complex, it really has everything one could ask for. Actually I spend my nights there with family for coffee or milk teas:)

[@serandy]

I dated a girl while being back in Vietnam for a few months earlier this year and did not know her apt was directly on top of this apartment. Ran into your Dad and sister in law in the elevator one day. Mind blown lol. Great apartment building. I'd live there if I were in Saigon.

[@TrangVergara]

No way!!!? Its unbelievable how small the world is sometimes. Two globe trotting KZbinrs under 1 roof:)))

[@brucewayne2773]

Thank you for the tour, HOA of around $90 usd a month, not bad at all. I foresee the real estate market in Vietnam will also be on the decline due to rising interest rates as it already has here in the states.

[@TheMightyAgency]

I think it depends on the clienteles. I am guessing for many of these purchases, the money come from the outside and therefore are usually bought in cash, not through loans. Keep in mind that you can sell a crappy house in the States and you can get two of these so it's not inconceivable for someone to sell what they have in the States and use the cash to buy a unit in cash.

[@brucewayne2773]

@@TheMightyAgency Real estate value historically have been affected by inflation, does not matter if you are buying cash or financing. I am talking about real estate values.

[@TheMightyAgency]

@@brucewayne2773 I think you brought up interest rate. BTW, I'm in the industry for 20+ years. Flat prices in places like Hong Kong, London, or NYC that are typically targeting the wealthy are not sensitive to interest rate level ... more so with the stock markets. Again, it depends on the tier of the real estate market. Buyers don't give a hoot about interest rate for a $10+ millions apartment in NYC. Obviously, for Vietnam that number is a lot lower but the effect is all the same.

[@TrangVergara]

@brucewayne2773 The Oregon housing market is getting tight too. My husband says there are many listings that have been on the market for more than 45 days which have fallen 9-12% from their highs since summer. An average rent now is $2,200 for a single family home with 3 bedrooms and 2 bathrooms. We just got a letter from our HOA association in Oregon that says they will increase the HOA by $50 due inflation😞

[@brucewayne2773]

@@TrangVergara Rent is on the rise for sure, bummer about HOA fees increase due to inflation. It's the one reason why I never buy a home in a HOA neighborhood. I would not be surprised if we see a continuous drop in home values throughout the states for the next few years.

[@esconzhang6413]

chao em dep vlog! cam on

[@TrangVergara]

:)

[@mathewbhem1516]

Great views from the 21st floor. There I noticed more apartments from afar do you happen to know the names of those new apartments? This Sunwah Pearl is far enough from the congestion that makes living in Ho Chi Minh City livable. Great quality vlog. Top notch Trang

[@TrangVergara]

Yes! it's The River in Thu Duc. It's quite isolated from the daily commute. Thanks for watching !

[@larrynguyen5533]

There are cheaper rents further away from District 1 and from the Metro line that is tba. Fat Broke and Adam from Gamer Abroad both had to move away from the city center due rents going up. Sunwah Pearl is an ideal location but not sure if its worth the price especially for us digital nomads. Sometimes we find ourselves being stingy just as the locals. When in Rome right!? Nice tour trang.

[@TrangVergara]

Yeah you're right about that. Many property owners have been increasing their rents to make up their losses during the past 2 years. As a property owner myself I understand both the owner and tenant side of things. However, I'm not too familiar with reasoning of landlords in Vietnam since property values aren't increasing and since there is no property tax.

[@TheMightyAgency]

You can't own property outright in Vietnam, right? That is, the government leases the land for 99 (or whatever that number is) years and the land (thus the apartment) will go back to the government, right? How has the HOA been increasing over the years? My feeling is that as the cost of labor increased, the HOA will also have to increase and before you know it, the monthly fee could go into several hundreds down the road. It seems costly to maintain such a vast common amenities.

[@TrangVergara]

Great question! There is no outright freehold ownerships to Vietnamese citizens such as the West to their own constituents. However there is hybrid of that here where the citizen owns the property, but the land that the property sits on there is a 99 year leasehold from what I know (there is clause where the government can claim eminent domain for the betterment of the people) As for foreigners, they can only own a limited amount of dwellings in a project or complex for 50+ years but not the land. This length of years can be renewed again. HOA has been increasing for the years due to several factors such inflation, cost and shortages of labor, and cost of materials. Actually, my HOA association for my home in the United States just informed us that our annual HOA fee will increase from $200 to $250 due to inflation (their exact words). However, I can't complain too much because I do see results of their efforts but yes it will snow ball for the years to come, especially when the HOA is monthly😬

[@fatandbroke]

Nice work as usual! Did you see what happened here last year ? 2 Bed in Vinhomes Golden River High floor is $465,000

[@TrangVergara]

Wow! Vinhomes Golden River is another great development at a highly desired location but that's sky high. I do remember I came across some article how every square meter was skyrocketing in district 1 last year, but could not believe how real estate comps could also affect condominiums in district 1. It's unbelievable how condos can be worth that much now, if that's the price of the market. Its not even a sound investment for airbnb or long term rentals, unless people are parking money away from HK or Singapore

[@fatandbroke]

@@TrangVergara it's all HK , sing and china. The new project by golden river the Marriott masterise is 1.1 million for a 55sqm 1 bedroom