HOW To Buy Real Estate in Vietnam: OWN a plot of LAND in Vietnam as a Foreigner

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Күн бұрын

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@VK-tq4il 2 жыл бұрын

Hello Rondan, My apologies if I misunderstood you. You keep on saying buying or owning a land in Vietnam. Vietnam is not any different from China, nobody can own or buy land locals or outsiders, they lease from the government on long term basis. The key word is lease and not buy the same way you buy land in EU meaning you own it, you buy a car, you buy a shirt meaning you own it, but it is not the same in Vietnam you just lease from the government for a long term basis, My second question is; if person A leases a land for 50 years then after 10 years he wants to sell it, now the new person B will be leasing for the rest of the 40 years or the person B can lease the same land for 90 years, being left 40 years from the original leaser ?

@MoveToAsia 2 жыл бұрын

On a local perspective (if you use a nominee.) When you acquire a land, the remaining number of years is not a criteria that they will pay attention to as you can just simply go to the department to extend your 50-year to another 50-year when your title of ownership ( So Do) is approaching the end. So if you go out there, do some valuation : location, infrastructure development, investment planning of your city and neighborhood are the main factors you will pay attention to. We dig into the 50-year part at 10:05 so you will see the 'risks' even if they won't happen often if you don't buy in the middle of nowhere. For your first question. If I own an apartment / house in France : every year I have to pay my property tax, does it mean that I am owning it ? From my perspective it's the same, the land belongs to my French government. Ask locals in Vietnam if they own their family land or no, and you will get the real answer 😉.

@Thanh-dn1fc 2 жыл бұрын

The lease is 50 years but the renewal is 25 years, isn't it? In addition, if you are not Vietnamese, you are not allowed to get the red book for the land you have bought. The same applies to the pink book for the apartments, unless the law has changed in between.

@MoveToAsia 2 жыл бұрын

Nop, it's 50-year renewable. We dig into this part at 10:05. I went with a Vietnamese friend recently to the property department of his hometown to do the 50-year extension process with him and see how the process works. It's pretty straight forward, some paperwork, small fees and you get another 50-year So Do. For landed projects with foreign-quota. It depends on the location and property developer but you may be right. You will only get the SPA. That's how it works usually.

@charlesfrotin1787 2 жыл бұрын

Great insihts ! My ex-GF is working for CBRE and she was always telling me about lands ! She is from Bao Loc and prices got crazy over there !

@MoveToAsia 2 жыл бұрын

Ahah Charles, GFs are always great source of info 😉. Bao Loc is definitely a booming area too.

@ChrisBGramz4u 2 жыл бұрын

Its like that here in the US also. People think they are buying the land, and that they own it. But really the Government owns it. If the Government decides to change the landscape, put in a road, or some such, they can just take your property. they often offer money, but if you don't take the money, the Government will still take the land.

@MoveToAsia Жыл бұрын

Agree. Same in France, we do have what is called a "property tax". So are we really owning it ? ;)

@nargavan134 Жыл бұрын

At 10:32 ....If you lease a land for 50 years and if the government had a new planning/zoning they can take your land and you get nothing? No compensation? 😳That's suck😤

@MoveToAsia Жыл бұрын

Answer in this video : kzbin.info/www/bejne/onXXhaqkebFnhNk

@joshuababbitt56 Жыл бұрын

At 12:33 she clarifies the government will compensate you.

@joshuababbitt56 Жыл бұрын

Also, in the other video Guillaume linked to, a commenter said "...It should be noted that even with a pink book, the government still has the right to take back your residential land with only a payment of land fair value and not house/land valuation combined."

@gregreed2713 2 жыл бұрын

Very informative, Tracy is obviously very knowledgeable about the property market. Please pass along compliments to her. The only subject I found missing was regarding taxation on the capital appreciation after selling. Besides that, excellent video!

@MoveToAsia 2 жыл бұрын

You are welcome Greg ! Thanks for your feedback ! PIT of 2% on the property sales price, but it's not really capital gain tax.

@jamesjasaki8913 2 жыл бұрын

another great video!

@MoveToAsia 2 жыл бұрын

Thanks James ! 😉

@thenigerianfile 2 жыл бұрын

Good info. Thank you.

@MoveToAsia 2 жыл бұрын

Thanks for the feedback ! You are welcome 🙌

@earthtrotterjones7835 2 жыл бұрын

Did you leave Tracy’s contact information and if not can you? Thanks new to the channel, I’m considering moving to Vietnam in the next few years and thinking of purchasing land with both our names as she is a citizen there. So looking at profitable scenarios. Thanks

@MoveToAsia 2 жыл бұрын

Let's keep in touch then !

@andywu8558 Жыл бұрын

I want to buy commercial real estate in vietnam, is it possible for foreigners?

@MoveToAsia Жыл бұрын

yes ( through a company)

@adrienraffier2736 2 жыл бұрын

Oh your last project looks quite well located. It seems super crowded on the street. Is it rush hour or the same traffic all day long ? If I remember well you said before that you use a friend as a nominee to own the title of property right ? So basically the 50-year timeframe is not a big deal as locals can just renew smoothly their Sổ đỏ for another 50-year ?

@MoveToAsia 2 жыл бұрын

Either you use a company or a trustworthy local friend that will be owning your property. That's the 2 solutions we discuss in the video at 6:48. For the extension, it's 50-years. Just renewed a land a few month ago with a friend to learn how it works. Pretty straightforward process, and you get another 50-year.

@jimmyscherer7873 2 жыл бұрын

I been trying to contact homebase by phone and email, are they still in business?

@MoveToAsia Жыл бұрын

Did you get a feedback from them ?

@jonytk Жыл бұрын

Absolutely unfair. Since only vietnamese can make money with this. Unless you own your own building promoting company. So technically basically nothing can be owned by foreigners except this expensive projects made specially for foreigners. And absolutely crazy the prices since you own nothing. 😂. It a cheaper to rent a house from a local, for a long term, and fix it, than to buy it. It seems that all the viet kiu come from US new York and apply their mentality and prices and sell to each other pumping the prices for something that is totally different. Not sure if in expectation that the law will change and one day it will be like in the west where anyone can buy and move there. Long term visa is almost impossible for people who want to retire in Vietnam so every foreigner days in Vietnam are counted. Even if you marry you still don't became a local. What a joke.