House Prices in Saigon
$7 million upwards aud for a house?
Mike....
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Also the taxi and food and just about everything else has increased by a significant amount...
Mike
3 bed modern apartment in vinhomes is still very cheap by UK standards
Unless you have millions to blow, rent a nice apartment for a year or two until you get comfortable. Thinking that you need to spend $7 million for a nice place, tells me you don't know the city well.聽 Just my opinion.
Your from the same neck of the woods in Oz as Yogi.
Could you imagine what USD$7 mill would buy you on the Sunshine Coast or Gold Coast , or the hinterlands.
You could get a well built beautiful home, with pool, tennis court, spa , billiard room and 3 car garage including a nice Car ,聽 motorcycle and a boat....all on a few hectares of land, with a few million in change to invest for an income stream.
Your only an hour from the airport, and can fly to ANY exotic destination you like , when you like & sitting at the pointy end of the plane .
On the other hand,,,you could buy a poorly built dump in shitty Saigon, where the streets are full of rotting garbage, the air is officially not fit to breath , infrastructure is virtually non existent and people are STILL stealing & eating their neighbours pets.
Yeah....it鈥檚 a toss up. Six of one & half a dozen of the other.
Obviously it only applies to a small percentage of the properties for sale...
Apartments are now fetching silly money.
We looked yesterday at a house in Hoi an, next to our friends 4 bed, 3 bath in really poor condition, won鈥檛 take less than $272k aud, house needs $50k plus worth of maintenance. 12 months ago our friend bought his for $76k, next door was a $100k...
Prices here have gone through the roof in the last 12 months, whether we鈥檙e talking rice or property...
Who is driving these prices up?
Mike
Certain areas are on the rise, others are not.
Buy out of town, you get much better deals.
ALSO...face it people..MANY more westerners are less than enchanted with Western Life and are moving to Asia etc...Am I wrong ??
What do Westerners moving to Asia have to do with land prices?
rawene wrote:They have tried that a few times before..doesn鈥檛 pan out...Westerners are buying now ( 70 ye lease) so DEMAND drives price..economics 101
I think you may want to do some fact checking before posting.
Before it was the Chinese, then it was Westerners, and now it's savvy people.
As I said, I think you are just trolling for bites.
colinoscapee wrote:My wife buys land in her home town area,which is a farming area. Not a Chinaman or expat in sight, yet land prices have doubled in two years
Did she convert the land to building land?
If so, how much did she pay?
300m2 of the farmland we bought is converted to building land in about 1-2 weeks and we have to pay about 80 million Dong for that.
Andy Passenger wrote:colinoscapee wrote:My wife buys land in her home town area,which is a farming area. Not a Chinaman or expat in sight, yet land prices have doubled in two years
Did she convert the land to building land?
If so, how much did she pay?
300m2 of the farmland we bought is converted to building land in about 1-2 weeks and we have to pay about 80 million Dong for that.
She buys land that already has the pink book. That way she doesnt have to deal with government officials changing the paperwork.
colinoscapee wrote:She buys land that already has the pink book. That way she doesnt have to deal with government officials changing the paperwork.
Thanks for the answer, but I don't understand what you mean.聽
You mean pink book instead of red book?
Because to my knowledge, there are only pink books these days.
And for every land you buy (regardless of whether it is farm land or building land), you get a pink book.
Just wondering where you heard it's pink books only. Where we buy its still red books and apply for a pink book to construct. Maybe different areas are doing it differently, not sure. Also, you are going from farmland to residential, therefore they may issue just one book these days. Land that already has a red book, needs to apply for a pink book.
(I use Google Translate for translation).
Note the section:
"Tuy nhi锚n, 膽峄 th峄憂g nh岷 th脿nh m峄檛 lo岷 Gi岷 ch峄﹏g nh岷璶, ng脿y 19/10/2009 Ch铆nh ph峄 ban h脿nh Ngh峄 膽峄媙h s峄 88/2009/N膼-CP v脿 ng脿y 21/10/2009 B峄 T脿i nguy锚n v脿 M么i tr瓢峄漬g ban h脿nh Th么ng t瓢 s峄 17/2009/TT-BTNMT v峄 c岷 Gi岷 ch峄﹏g nh岷璶 quy峄乶 s峄 d峄g 膽岷, quy峄乶 s峄 h峄痷 nh脿 峄 v脿 t脿i s岷 kh谩c g岷痭 li峄乶 v峄沬 膽岷. Theo 膽贸, hai lo岷 Gi岷 ch峄﹏g nh岷璶 n贸i tr锚n s岷 do B峄 T脿i nguy锚n v脿 M么i tr瓢峄漬g ph谩t h脿nh theo m峄檛 m岷玼 th峄憂g nh岷 v脿 膽瓢峄 谩p d峄g trong ph岷 vi c岷 n瓢峄沜 膽峄慽 v峄沬 m峄峣 lo岷 膽岷, nh脿 峄 v脿 t脿i s岷 kh谩c g岷痭 li峄乶 v峄沬 膽岷..."
My wife asked the authorities who rewrite our pink book.
They said only pink books are issued.
In the pink books are described in chapter II. under 1. the land use rights and in chapter II. under 2. the buildings on the land.
By the way, he pink book has the same heading as the red book with the addition "Property rights and other real estate related to land".
Update:
Further interesting link:
colinoscapee wrote:Just wondering where you heard it's pink books only. Where we buy its still red books and apply for a pink book to construct. Maybe different areas are doing it differently, not sure. Also, you are going from farmland to residential, therefore they may issue just one book these days. Land that already has a red book, needs to apply for a pink book.
Since 2009, only pink books have been published.
The land use rights are defined in it (as in the Red Book).
If you rezon the land it will be updated in the same pink book.
And if you build a house, it's recorded also in the same pink book.
Andy Passenger wrote:colinoscapee wrote:Just wondering where you heard it's pink books only. Where we buy its still red books and apply for a pink book to construct. Maybe different areas are doing it differently, not sure. Also, you are going from farmland to residential, therefore they may issue just one book these days. Land that already has a red book, needs to apply for a pink book.
Since 2009, only pink books have been published.
The land use rights are defined in it (as in the Red Book).
If you rezon the land it will be updated in the same pink book.
And if you build a house, it's recorded also in the same pink book.
The law in Vietnam is interpreted by the officials who are making the decision. The marriage process is a good example, one set of rules, yet every Huyen has their own way of doing things.
I realise that the law changed in 2009, sometimes these smaller towns take a long time to make changes. Where we bought in Xuyen Moc,a red book had been issued in 2016.
max 4,5bill VND ~ 200.000usd聽 聽for a 3 room apartment
7mill usd = 162 bill VND (t峄)
For house:
Look at this advertise from Nov 2018 (b谩o/newspaper Tuoi tr岷)
on the left at the middle:聽 (many houses which cost more than 250 bill vnd)
16 /2MT Le Anh Xuan 330m2, 320ti (320 ti = 320 bill vnd = 13mill USD)
unbelievable, maybe Michael jackson had been there :-)
more聽 here:
Instant coffee = through the roof
olive oil = through the roof
any name brand item (food, clothing , electronic , etc.. ) = through the roof
Bag of lays potato chips = through the roof
phildelphia cream cheese = through the roof
Some stuff was so high it was sickening ,聽 4-5 Canadian king crab legs it was 2+ million(uncooked frozen)
wines and spirits are higher then what I would pay in Canada , pretty much everything is higher
Im really not surprised the housing is high a well given what ive seen so far
I blame the tourists , (not china) , westers white people (im western white) are usually the dumbest of all, they are considered cash cows and suckers no matter where they go on earth , and the rest of us have to suffer for this
1willy1 wrote:Im fresh to Saigon , and am very shocked at the prices of general items im finding.
Instant coffee = through the roof
olive oil = through the roof
any name brand item (food, clothing , electronic , etc.. ) = through the roof
Bag of lays potato chips = through the roof
phildelphia cream cheese = through the roof
Some stuff was so high it was sickening ,聽 4-5 Canadian king crab legs it was 2+ million(uncooked frozen)
wines and spirits are higher then what I would pay in Canada , pretty much everything is higher
Im really not surprised the housing is high a well given what ive seen so far
I blame the tourists , (not china) , westers white people (im western white) are usually the dumbest of all, they are considered cash cows and suckers no matter where they go on earth , and the rest of us have to suffer for this
Dear Rocket Scientist
You do realize most of what you mentioned is imported, therefore has a tax. I'm sure Vietnamese products are dearer in Canada than they are in Viet Nam.
colinoscapee wrote:1willy1 wrote:Im fresh to Saigon , and am very shocked at the prices of general items im finding.
Instant coffee = through the roof
olive oil = through the roof
any name brand item (food, clothing , electronic , etc.. ) = through the roof
Bag of lays potato chips = through the roof
phildelphia cream cheese = through the roof
Some stuff was so high it was sickening ,聽 4-5 Canadian king crab legs it was 2+ million(uncooked frozen)
wines and spirits are higher then what I would pay in Canada , pretty much everything is higher
Im really not surprised the housing is high a well given what ive seen so far
I blame the tourists , (not china) , westers white people (im western white) are usually the dumbest of all, they are considered cash cows and suckers no matter where they go on earth , and the rest of us have to suffer for this
Dear Rocket Scientist
You do realize most of what you mentioned is imported, therefore has a tax. I'm sure Vietnamese products are dearer in Canada than they are in Viet Nam.
That's no excuse for the kind of prices im seeing
A slight import tax sure, but not 3-4 times the regular price.
The whole world runs on importing products from other country's , usually at a fair price.
These overinflated products wouldn't last if people weren't buying it 鈥.which goes back to my earlier post.
1willy1 wrote:colinoscapee wrote:1willy1 wrote:Im fresh to Saigon , and am very shocked at the prices of general items im finding.
Instant coffee = through the roof
olive oil = through the roof
any name brand item (food, clothing , electronic , etc.. ) = through the roof
Bag of lays potato chips = through the roof
phildelphia cream cheese = through the roof
Some stuff was so high it was sickening ,聽 4-5 Canadian king crab legs it was 2+ million(uncooked frozen)
wines and spirits are higher then what I would pay in Canada , pretty much everything is higher
Im really not surprised the housing is high a well given what ive seen so far
I blame the tourists , (not china) , westers white people (im western white) are usually the dumbest of all, they are considered cash cows and suckers no matter where they go on earth , and the rest of us have to suffer for this
Dear Rocket Scientist
You do realize most of what you mentioned is imported, therefore has a tax. I'm sure Vietnamese products are dearer in Canada than they are in Viet Nam.
That's no excuse for the kind of prices im seeing
A slight import tax sure, but not 3-4 times the regular price.
The whole world runs on importing products from other country's , usually at a fair price.
These overinflated products wouldn't last if people weren't buying it 鈥.which goes back to my earlier post.
Maybe you are shopping at high-end stores. I have lived here for 11 years and have not seen the pricing you refer to.
colinoscapee wrote:Tell us where you are shopping, got a feeling it may be Thao Dien or similar overpriced areas.
I thought so as well at first, I shop at聽 Annung gourmet shop in the basement of Saigon centre, and thought its a specialty store but other markets have similar prices聽 with certain products.
I started shopping a little in vincom centre , vinmart I think its called, its a lot better for seafood and some things, but not much better with others.
Anyways for me its fine, I mostly eat sweet potatoes or taro with greens, soups and stuff, I cook at home, but I was a little shocked.
Have you checked out the NIKE store in district 4? They carry all the stuff no one wants in north America, and are charging twice as much as what I would pay in Canada
considering the nike products are made here in Vietnam and asia, and that its in a less developed nation you would think the prices would reflect that , but NOPE
Bought a pair of nike air max for $9.00 Canadian from ben thanh market, ill see how well they hold up.... wouldn't mind seeing them put the nike store out of business to be honest
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