Learn about real estate investment in Vietnam in 2018

How to invest real estate in Vietnam in 2018? For those who want to understand more about the real estate investment market in Vietnam should be more thoroughly inquired. Especially for those who want to buy apartment in Vietnam, if not carefully investigated, it is difficult to achieve the results as they want. We will provide you with some useful information about real estate in Vietnam, you can refer to get a better view on it.

Real estate investment market in Vietnam in 2018

According to some sources from the HCMC Real Estate Association, the real estate market is still in the recovery and growth cycle, but will continue to slow down compared to 2016. It is forecasted that in 2017-2020 there will be a large adjustment to offset the deviation. Supply – demand phase, helping the market return to the direction of healthy development, more sustainable.

In terms of affordable real estate markets, the real needs of the majority of middle-income and low-income urban residents will be paid more attention. Therefore, it isn’t too difficult when you want to buy apartment in Vietnam or in big cities. There is a new addition that could be developed in the coming years, with a population of more than 93 million people in the golden age. Nearly 60% of them are under the age of 35, with about 50 million internet users, accounting for 53% of the population (46.64% higher than the world average). This opens the realm of online real estate business, taking advantage of information technology in the digital age.

What is the real estate situation in Vietnam in 2018?
What is the real estate situation in Vietnam in 2018?

Situation of high-end apartment market tends to decrease, demand for buyers is less and less while supply is quite high. This also has a great impact on the real estate market in major cities in Vietnam. According to statistics recorded, the market in Hanoi and Ho Chi Minh City, each year is estimated at 45,000 to 50,000 apartments are sold, while the annual consumption of about 30,000 units. There will still be enough goods to sell.

While the development of the apartment market is at the most development stage, the land is tending to dominate since the beginning of this year, from the area around HCMC, Da Nang land market has widespread in many other localities. The projects have good legal still have good sales results and prices are constantly rising.

Here are some information on real estate investment in Vietnam this year. So you can learn more to have a a clearer view of it. For information about how to buy apartment in Vietnam, you can refer to the following information.

How to buy apartment in Vietnam?

Find out how to buy a house in Vietnam first to learn about the real estate market as above. Then you need to find out more about property law for foreigners if the buyer isn’t  Vietnamese citizens. A new point in the Housing Act 2014 is that foreign invested enterprises can buy houses for their own professionals without hiring. However, the most interesting thing is the financial mechanism, as well as the notes in the procedure of buying and selling houses with these objects.

As soon as the Housing Act 2014 is approved, many foreign organizations and individuals are happy to have the opportunity to own a home in Vietnam become much easier. However, to date, the specifics of housing ownership still have to wait for the Decree of the Government and the guiding circular of the Ministry of Construction.

Foreigners need to pay attention when they want to buy Vietnamese financiers
Foreigners need to pay attention when they want to buy Vietnamese financiers

Some points in the regulations on buying a house in Vietnam by foreigners. Firstly, in cases where a foreign organization or individual is allowed to own a house in Vietnam in the form of “Investing in the construction of a house under the project”, the transfer of construction investment and remittance abroad The sale will be made in accordance with Circular 19/2014 of the State Bank and Decree 70/2014 guiding the Ordinance on Foreign Exchange.

Secondly, in cases where an organization or individual is permitted to own a house in Vietnam through the form of “buying, leasing, donation or inheritance of commercial houses, including apartments and individual dwellings In the investment project for housing construction “, you have to pay money to buy or rent a house through a credit institution operating in Vietnam.

On the form of payment to buy a house or real estate products in Vietnam, foreigners will have two ways as follows:

+ The first is to open an account at a bank in Vietnam and pay money to the account of the investor or transfer money directly from overseas to the account of the investor opened at a joint stock commercial bank. Vietnam.

+ The second is to deposit cash in Vietnam dong into the account of the investor at a bank operating in Vietnam.

As a result, foreigners can pay cash directly in Vietnamese dong, not necessarily in the form of transfer.

There are some special procedures when buying and selling houses that foreigners need to be aware of; foreigners who bring foreign currency (ies) larger than US $ 5,000 into Vietnam must carry out customs declaration procedures; In case of a house purchase transaction, the amount of foreign currency transferred into Vietnam will not exceed the value of the transaction (as stated in the house purchase contract). The payment to the investor, the seller should do through the bank, avoiding the maximum payment in cash, because the risk can occur in the process.

In addition, the purchase of houses from individual sellers should be through notary public. They will help the buyer to verify that the property is legally valid. If the contract isn’t notarized, don’t proceed with the sale. When buying a home from a project investor, it is important to look at the relevant documentation of the project, to hire a lawyer to be safer and also to buy houses from reputable investors in the market. school.

The above is all information for you to refer more about real estate investment and how to buy houses in Vietnam.

Thanh Bình – Mogi.vn

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