I am considered myself as a successful Vietnamese American Real Estate Investor in NY for 30 years , and I am skeptical about putting my money in Vietnam.
You are 100% right. I hope Vietnam government authority watch this video and understand what strategy they suppose to do to boost up real state market in Vietnam.
Exaclty this, the smart ones didn't get suckered in to buying overpriced city apartments off the plan and expecting to double their money in 5 years. For half the price they paid they could have got 200m2 near the beach in a central city. There's a sucker born every minute and Vietnam just eats them up.
I'm in Vietnam (HMC) soon. Was offered an appartement for 2000 dollar. Not an issue. However, I've made clear that I need something very nice for 500. It's Vietnam for G's sake!
I don’t know about the Vietnam economy. I visited Danang for the first time a month ago and my wife and I loved it. The people were so nice. We are going back in January for three weeks.
Saigon is still more expensive than Bangkok but Bangkok is more developped. And some districts are more expensive than European cities. Trees don't go to the sky.
The housing problems in Ho Chi Minh City are similar to that of my native New York City. Luxury apartments spring up like mushrooms, leaving the average buyer with few if any housing options. Additionally, more affordable housing will encourage more young people to have families. As I understand it, there is worry of falling birth rates in many countries, and a part of this problem is a lack of affordable housing.
Yes, it's ridiculous that scarce land in cities is only used for building apartments nobody can live in, but only for speculation. Communist Vietnam isn't doing any better than capitalist USA. In Europe, the situation is better.
I’m pretty sure you and everyone else that actually has eyes could see that Vietnam is heading into the same real estate bubble collapse that the US had in 2008. It’s a matter of not if but when.
@@castheeuwes1085 Exactly this, the market looks relatively stable from my angle and interest rates & steady increases in property prices in the central region reflect that. What i see is a mean reversion in apartment pricing due to the excessive amount of apartments that have come to market in the last 5 years. Bad luck if you brought off the plan i say...
VN real estate market are perpetually in the speculation and that’s unique compare to other countries. In VN, there’re no place to invest except gold and real estate so both are very volatile. All Vnmese richest. Mr. Vượng for example, made their $ from housing market. For my experience as Vnmese-American, it’s better to rent than own (the upside of this ugly market is the rent very affordable).
Price is way too high for normal vietnemese to buy. Wages low and housing too high and hard to get loan from bank due to their low wages. Housing in Veit is only paper value. As long as no demand, no matter how high the value still = 0 value.
In a speculative market its always worth what someone wants to pay for it. Value will never be 0 In a country with 100m people and not a lot of land to develop there will always be a buyer.
Affordable housing has been talked about for over a decade but nothing has been done by the government because the comrades benefit from the high property prices, they don't want to change it. Also, Vietnamese real estate market has been a big washing machine for all those dirty money, so the higher the prices the better😂😂 the average Vietnamese earns a couple thousand dollars a year which is about the price per square meter of the houses in the big cities. So, for example, a house of 100 square meters would cost the average person more than 100 years to pay off?
Yeah, quite puzzling that HCMC luxury segment continues to see strong demand???? Let put this in perspective... New York City's average home price-to-income ratio is 9.8 London average house price-to-income ratio is 8.26 Toronto, Canada average house price-to-income ratio is 12 Hong Kong's house-price-to-income ratio was 18.8 Bejing average house price-to-income ratio is 29-31, depend on data sources HCMC? HCMC average house price-to-income ratio is a whopping 32.5! The median salary in HCMC, Vietnam is 14,900,000 Vietnamese dong (VND) or approximately 600 USD per month The median price of a home in HCMC is USD $296,000, which is 32.5 times the average annual household income of $9,110. This makes HCMC one of the least affordable property markets in Asia, along with Shenzhen, China. WTTTTFudge!
The reason our real estate issues sound so familiar with other nations, even Western ones is simple. The housing/real estate markets Globally have been fraudulently increasing costs and at the same time reducing the product quality and square footage... Just two decades ago a two bedroom apartment was at least 100 plus square meters in size and now new units hitting the market are routinely under 80.. In addition to this Global pricing has skyrocketed and this is NOT a true reflection of overall building /land costs. This global conspiracy is becoming more obvious to the public in general and that is reflective in the global crash that we are witnessing, and will continue to see (in a much more dramatic and obvious way in 2025...) Right now rental prices (at least in the North) are very attractive. We are renting a fully furnished Villa in Ha Long Bay area for 16,000,000 a month! "Investing in Real estate" is tantamount to making money by going to the roulette tables.... With only one major difference. At least you will have a good time and memories if you spend it at a Casino ...
It is already crashed. However they are playing economically game to divert your attentions. If you asked the local investors, 100% of them are selling their assets try to pay off debts, sad to say NO one is buying. The government is trying but bank debts is too deep.
Vietnam is falling into the same trappings that American real estate is facing. Greed from speculation has priced local residents out creating a generation of renters. Vietnam has to decommodify homes.
Great content, as always! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?
They followed China playbook, overbuild condos/luxury homes. it took 10-15 years to prop up the bubble, it can take awhile to deflate it. I'm still interested to buy a vacation home in Ba Ria Vung Tau, will sit tight for now.
Hi Ken great video again. I was a bit confused when you spoke about Vietnamese owning the freehold estate as i thought the Red book was still only classed as a 'land use' certificate that allowed them to develop land etc... There is also another certification/book that can be granted where they recognizes a house that has been built on the land providing all the rules have been followed during the building process but, from my research these will only be granted to land users who have built on developed project land? With regards to your views on the market in general, Vietnam seems to very much be a 2 speed economy in that regard with some central beach cities going up more than 100% in the last 2-3 years while the apartment sector in the major cities has been going down. Much of this is also driven by speculation, and from what i can see this has been driven by the release of the latest round of documents from the zoning & plannning departments.
@@naranja1972 From my experience they are all out to cheat each other. If someone is dumb enough to buy the land, it's sold. What makes it worse is that it's allowed to happen in most cases.
@@naranja1972I think the red and pink books are the actual ownership titles. The handwritten papers are risky because the property doesn’t have any kind of registration with the government land titles office. Property is basically sold to the buyer from the seller at a low price minus a legal title. It is costly to do the registration documentation. Once the application to register for the title has been completed and submitted then the buyer of the asset/land/ property will own the legal title simultaneously increasing the value of the purchase. Very complex dealings among the locals tends to cause financial chaos and instability. 😢
please explain what you mean by some area? What area are restricted? Anh what area are not? Do I need to be a Vietnamese citizen to buy land under my name and be able to sell the property for profit without being tax like crazy?
Yes they can, but one of the criteria is a language test. While I personally enjoy learning Vietnamese, I think this might be quite an obstacle for an average individual
@@peppazzzz @ great to hear this. It’s good to see how Vietnam chooses immigrants UNLIKE western countries that give citizenships for free to any person even people with contagious deseases, criminal past and no education whatsoever. RESPECT TO VIETNAM INDEED !!!!
@@sebastianniqvist3144 Wait, where is this magical paradise that gives out free citizenships to any person? I want an extra passport for free. Please do tell.
@@mikeblevins327phương có người Anh sang Sản Fran for twelve years. Ve hưu nên anh chị trở về vn Thu Đức để xây phòng trọ và retire luôn HIỆN GIO đã sau một năm từ khi xảy gần xong GIÂY TO CHƯA xong TÔN three grands de qua một cửa và đang chờ City se qua của nữa HỌ CIN THẲNG THỪNG nên khi mua và xay NHÂN HIỂU VIẾT KIỂU sau nhiều năm không biết nhiều về vn BI LỪA rất dễ CON NGƯỜI VN the lượng qua NGÕ HẺM NÀO cũng là lừa đảo NGUYỆN CHÚC AN LÀNH ĐEN VỚI ANH
Investing in a luxury apartment is too risky unless it’s very cheap that you can absorb the loss just in case. Trump would deport me if I get Vietnam citizenship. 😅
I hate when people use buzz words like speculation.. even if you buy a home for your home use that you're going to live in.. it's still a speculative investment.youre speculating that it will be cheaper in the long run to own than rent.and to have something to leave to your kids.. Second word that's a buzz killer.. affordable housing.. it's not the place for companies or their responsibility to build so-called affordable housing.. they are a business they are beholding to their shareholders. If people that use buzzwords like affordable housing want to go and invest their money and build low income housing that's up to them. What I would think that companies like uncle Kenny's would be better also building high end homes to earn the best returns in investment. And when luxury homes are built last gen luxury homes turn into middle class housing..last middle class homes turn into low income.. That's why when I first arrived in Vietnam in 2004 that most people with a few bedrooms and a single private bathroom that wasn't shared by an entire floor of an apt building was seen as rich .hell back then what we call migrant rooms now..single room with a loft and bathroom was considered middle class. If course markets must correct but let's not kid ourselves..the AVG family here are 1000 times better than before 2007 and joining the WTO.. it's only a crash if you over extended your reserves
Exaclty, people aren't fighting to get out the door. The apartment market is getting diluted and people aren't getting the growth they expected.... bad luck i say, do more research.
So many empty properties in hmc alone who are they trying to fool it will take forever to sell with no buyers.😅
I am considered myself as a successful Vietnamese American Real Estate Investor in NY for 30 years , and I am skeptical about putting my money in Vietnam.
So many fake news around… but this guy is being honest on these topics
You are 100% right. I hope Vietnam government authority watch this video and understand what strategy they suppose to do to boost up real state market in Vietnam.
Your mistake is to think they didn’t know lol
I built a beachfront house in nha trang 2023, 65k 3 stories. Now building a house in Sapa. Don't buy junk someone else built!
Exaclty this, the smart ones didn't get suckered in to buying overpriced city apartments off the plan and expecting to double their money in 5 years. For half the price they paid they could have got 200m2 near the beach in a central city. There's a sucker born every minute and Vietnam just eats them up.
as a foreigner you have to be nuts to buy. better rent, no way things will stay the same in 10-20-30 years..50 years? who the heck knows??
😂😂We left this communists country and we will never invest cause their laws is unstable. So we go for Singapore and Japan to be sure 😊
This dude is trying to tell us to obtain Vietnam citizenship 😂
@@chunfan2058 this dude has brain disorder
The moral of the story: if you're a foreigner, don't put your life savings into the Vietnamese real estate scam.
I drove by so many empty projects
I'm in Vietnam (HMC) soon. Was offered an appartement for 2000 dollar. Not an issue. However, I've made clear that I need something very nice for 500. It's Vietnam for G's sake!
Thank you for the info great video 😊
I don’t know about the Vietnam economy. I visited Danang for the first time a month ago and my wife and I loved it. The people were so nice. We are going back in January for three weeks.
Saigon is still more expensive than Bangkok but Bangkok is more developped. And some districts are more expensive than European cities. Trees don't go to the sky.
The housing problems in Ho Chi Minh City are similar to that of my native New York City. Luxury apartments spring up like mushrooms, leaving the average buyer with few if any housing options. Additionally, more affordable housing will encourage more young people to have families. As I understand it, there is worry of falling birth rates in many countries, and a part of this problem is a lack of affordable housing.
Yes, it's ridiculous that scarce land in cities is only used for building apartments nobody can live in, but only for speculation. Communist Vietnam isn't doing any better than capitalist USA. In Europe, the situation is better.
I hope the Vietnam people get what he mean. This guy has a deep look at the Real Estate market in Viet Nam.
I’m pretty sure you and everyone else that actually has eyes could see that Vietnam is heading into the same real estate bubble collapse that the US had in 2008. It’s a matter of not if but when.
Are the banks handing out mortgages like candy? I don't think so.
@@castheeuwes1085 Exactly this, the market looks relatively stable from my angle and interest rates & steady increases in property prices in the central region reflect that. What i see is a mean reversion in apartment pricing due to the excessive amount of apartments that have come to market in the last 5 years. Bad luck if you brought off the plan i say...
VN real estate market are perpetually in the speculation and that’s unique compare to other countries. In VN, there’re no place to invest except gold and real estate so both are very volatile. All Vnmese richest. Mr. Vượng for example, made their $ from housing market. For my experience as Vnmese-American, it’s better to rent than own (the upside of this ugly market is the rent very affordable).
Price is way too high for normal vietnemese to buy. Wages low and housing too high and hard to get loan from bank due to their low wages. Housing in Veit is only paper value. As long as no demand, no matter how high the value still = 0 value.
In a speculative market its always worth what someone wants to pay for it. Value will never be 0 In a country with 100m people and not a lot of land to develop there will always be a buyer.
Affordable housing has been talked about for over a decade but nothing has been done by the government because the comrades benefit from the high property prices, they don't want to change it. Also, Vietnamese real estate market has been a big washing machine for all those dirty money, so the higher the prices the better😂😂 the average Vietnamese earns a couple thousand dollars a year which is about the price per square meter of the houses in the big cities. So, for example, a house of 100 square meters would cost the average person more than 100 years to pay off?
Yeah, quite puzzling that HCMC luxury segment continues to see strong demand????
Let put this in perspective...
New York City's average home price-to-income ratio is 9.8
London average house price-to-income ratio is 8.26
Toronto, Canada average house price-to-income ratio is 12
Hong Kong's house-price-to-income ratio was 18.8
Bejing average house price-to-income ratio is 29-31, depend on data sources
HCMC? HCMC average house price-to-income ratio is a whopping 32.5!
The median salary in HCMC, Vietnam is 14,900,000 Vietnamese dong (VND) or approximately 600 USD per month
The median price of a home in HCMC is USD $296,000, which is 32.5 times the average annual household income of $9,110. This makes HCMC one of the least affordable property markets in Asia, along with Shenzhen, China. WTTTTFudge!
Looks like will be seen the prices heading south for a little while yet
2024 - China Japan US property bubble burst - Unrepairable 20 years - China's Bank + 569 US Bank Failures Since January 2000.
Many problems, insiders don't tell us, let's know nothing but guess
The reason our real estate issues sound so familiar with other nations, even Western ones is simple. The housing/real estate markets Globally have been fraudulently increasing costs and at the same time reducing the product quality and square footage...
Just two decades ago a two bedroom apartment was at least 100 plus square meters in size and now new units hitting the market are routinely under 80..
In addition to this Global pricing has skyrocketed and this is NOT a true reflection of overall building /land costs.
This global conspiracy is becoming more obvious to the public in general and that is reflective in the global crash that we are witnessing, and will continue to see (in a much more dramatic and obvious way in 2025...)
Right now rental prices (at least in the North) are very attractive. We are renting a fully furnished Villa in Ha Long Bay area for 16,000,000 a month!
"Investing in Real estate" is tantamount to making money by going to the roulette tables.... With only one major difference.
At least you will have a good time and memories if you spend it at a Casino ...
It's like buying a Meme coin, the trick is to just follow the money and dont be the last person out the door!
Exactly the same situation in Singapore. Slow to build. Very high prices. Good luck to everyone.
Vietnam property will crash and many people will loss huge amount of money when it crashes. Over speculation in property is very risky game
It is already crashed. However they are playing economically game to divert your attentions. If you asked the local investors, 100% of them are selling their assets try to pay off debts, sad to say NO one is buying. The government is trying but bank debts is too deep.
I don't feel sorry for them. Houses should only be build to live in, not for gambling away money (from dubious sources as well).
2025 Very High Unemployment America Britain China Europe India Japan WFH Sent Out 400 Resume Without Reply 😭
Thanks for sharing. Investors worry about if we invest we may end up like VTP company. As you said, VN past time is stealing.
Vietnam is falling into the same trappings that American real estate is facing. Greed from speculation has priced local residents out creating a generation of renters. Vietnam has to decommodify homes.
Can't compare Vietnam real estate with American one. Because the law and the processes are totally different. LOL
Speculation means gambling? It’s investment or rolling dice?
I saw it coming and you take it at the point! Greetings from germany...let you when I am back, so we can talk about nice weekend
Sounds great!
Great content, as always! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?
So many fake news… but this guy is being honest on these topics
China Real Estate 2.0. They have denied the problem at covered it up. Until the problem is too huge and it explode.
This has nothing to do with China
It has been 3 years since China real estate burble exploded, so what? does Chinese economy collapse?
G'day Ken,
Sounds like the Australian housing market.
All smokes & mirrors
Cheers
Louis Kats your number 1 Fan in Melbourne, Australia 🇦🇺 👍
*** VIETNAM economy and people is as fake as US master PONZI CON-OMY!
They followed China playbook, overbuild condos/luxury homes. it took 10-15 years to prop up the bubble, it can take awhile to deflate it. I'm still interested to buy a vacation home in Ba Ria Vung Tau, will sit tight for now.
Hi Ken great video again. I was a bit confused when you spoke about Vietnamese owning the freehold estate as i thought the Red book was still only classed as a 'land use' certificate that allowed them to develop land etc... There is also another certification/book that can be granted where they recognizes a house that has been built on the land providing all the rules have been followed during the building process but, from my research these will only be granted to land users who have built on developed project land?
With regards to your views on the market in general, Vietnam seems to very much be a 2 speed economy in that regard with some central beach cities going up more than 100% in the last 2-3 years while the apartment sector in the major cities has been going down. Much of this is also driven by speculation, and from what i can see this has been driven by the release of the latest round of documents from the zoning & plannning departments.
vietnam is confusing af. red books, pink books, people buying and selling without the books lol.. wtf is going on
@@naranja1972😅
@@naranja1972 From my experience they are all out to cheat each other. If someone is dumb enough to buy the land, it's sold. What makes it worse is that it's allowed to happen in most cases.
@@naranja1972 😂😂
@@naranja1972I think the red and pink books are the actual ownership titles.
The handwritten papers are risky because the property doesn’t have any kind of registration with the government land titles office.
Property is basically sold to the buyer from the seller at a low price minus a legal title. It is costly to do the registration documentation.
Once the application to register for the title has been completed and submitted then the buyer of the asset/land/ property will own the legal title simultaneously increasing the value of the purchase.
Very complex dealings among the locals tends to cause financial chaos and instability. 😢
Thanks for this video., very helpful
Good morning from Nhat Ban Brother Ken!
Unc your expressions are always funny, but i think you need some help with editting let me know if you're interested !
The editing is totally fine for this type of video
Going to be ugly for 2 or 3 years globally
I saw some other videos about Hanoi Lumi (by Singapore developer) was overwhelming... Is that a scam too?
Hi Ken, could you tell me which bank provides 5% rate for 3 years ?
❤
Hi can việt kieu buy and own Land in their name as of today?
Yes, depends on areas.
please explain what you mean by some area? What area are restricted? Anh what area are not? Do I need to be a Vietnamese citizen to buy land under my name and be able to sell the property for profit without being tax like crazy?
We have made a video about it. Please watch it and leave a comment over there: ruclips.net/video/jhs2DkJ83Bs/видео.html
Ken duong how can I send my resume to you.
Can western foreigners with no Vietnamese ancestry get Vietnamese citizenship and all the ID cards?
Yes they can, but one of the criteria is a language test. While I personally enjoy learning Vietnamese, I think this might be quite an obstacle for an average individual
You can if you have helped this country in somehow ( human helps ) for example..
@@peppazzzz @ great to hear this. It’s good to see how Vietnam chooses immigrants UNLIKE western countries that give citizenships for free to any person even people with contagious deseases, criminal past and no education whatsoever.
RESPECT TO VIETNAM INDEED !!!!
@@sebastianniqvist3144 Wait, where is this magical paradise that gives out free citizenships to any person? I want an extra passport for free. Please do tell.
@@ellvtv2314 Dont get too excited, 99% chance you would need to give up your current passport for one that is far more inferior.
Anh gioi qua Anh o My for sure
Looking to buy, but very unsure about some of the high prices and no pink book ? Thanks for the information !
@@mikeblevins327phương có người Anh sang Sản Fran for twelve years. Ve hưu nên anh chị trở về vn Thu Đức để xây phòng trọ và retire luôn HIỆN GIO đã sau một năm từ khi xảy gần xong GIÂY TO CHƯA xong TÔN three grands de qua một cửa và đang chờ City se qua của nữa HỌ CIN THẲNG THỪNG nên khi mua và xay NHÂN HIỂU VIẾT KIỂU sau nhiều năm không biết nhiều về vn BI LỪA rất dễ CON NGƯỜI VN the lượng qua NGÕ HẺM NÀO cũng là lừa đảo NGUYỆN CHÚC AN LÀNH ĐEN VỚI ANH
Ehhh. You don't reply to comments asking for business or your companies email. At this point you are just an entertainer.
Investing in a luxury apartment is too risky unless it’s very cheap that you can absorb the loss just in case. Trump would deport me if I get Vietnam citizenship. 😅
😂
I hate when people use buzz words like speculation.. even if you buy a home for your home use that you're going to live in.. it's still a speculative investment.youre speculating that it will be cheaper in the long run to own than rent.and to have something to leave to your kids..
Second word that's a buzz killer.. affordable housing.. it's not the place for companies or their responsibility to build so-called affordable housing.. they are a business they are beholding to their shareholders.
If people that use buzzwords like affordable housing want to go and invest their money and build low income housing that's up to them. What I would think that companies like uncle Kenny's would be better also building high end homes to earn the best returns in investment.
And when luxury homes are built last gen luxury homes turn into middle class housing..last middle class homes turn into low income..
That's why when I first arrived in Vietnam in 2004 that most people with a few bedrooms and a single private bathroom that wasn't shared by an entire floor of an apt building was seen as rich
.hell back then what we call migrant rooms now..single room with a loft and bathroom was considered middle class.
If course markets must correct but let's not kid ourselves..the AVG family here are 1000 times better than before 2007 and joining the WTO.. it's only a crash if you over extended your reserves
Exaclty, people aren't fighting to get out the door. The apartment market is getting diluted and people aren't getting the growth they expected.... bad luck i say, do more research.
@@Homebrand16092 gro they expected? apts are more often then not shit investments..
nows the time to buy buy buy
Ken Duong -- You could (should) be a finance- or housing Minister in any Western Country's government ...🥸😎🤓👍👍👍
So many fake news… but this guy is being honest on these topics