Vietnam’s real estate fever

[Viet]

A new land lot in Saigon was sold for a record price of 2,4 billion VND (104,000 USD) per square meter.

Đất Thủ Thiêm 2,4 tỷ/m2, nỗi lo lớn nhất sau vụ đấu giá không khoan nhượng

Chuyên gia ví kết quả cuộc đấu giá đất "vô tiền khoáng hậu" như một "cú sốc" cho thị trường. Giá đất sau đó dễ sẽ xảy ra hiệu ứng "tát nước theo mưa".

dantri.com.vn

 

[Paul2]

A new land lot in Saigon was sold for a record price of 2,4 billion VND (104,000 USD) per square meter.



View attachment 801440

Đất Thủ Thiêm 2,4 tỷ/m2, nỗi lo lớn nhất sau vụ đấu giá không khoan nhượng

Chuyên gia ví kết quả cuộc đấu giá đất "vô tiền khoáng hậu" như một "cú sốc" cho thị trường. Giá đất sau đó dễ sẽ xảy ra hiệu ứng "tát nước theo mưa".

dantri.com.vn

Time to run, it will soon turn into Shenzhen where even millionaires can't buy one shed.

 

[REhorror]

They need to crackdown on this before another Evergrande happens.
Rising land price = bad news.

 

[Viet]

They need to crackdown on this before another Evergrande happens.
Rising land price = bad news.

That’s speculation madness.
$1 million, one can buy 16 square meters in Monaco,
22 square meters in Hong Kong,
54 square meters in Shanghai,
58 square meters in Los Angeles and
66 square meters in Beijing, and
only 10 square meters in Vietnam.

 

[Song Hong]

And bank interest rate is 10%. How does these developer got all those monies?

A lot of house in Hanoi and HCMC are empty for many years after built.

 

[REhorror]

And bank interest rate is 10%. How does these developer got all those monies?

A lot of house in Hanoi and HCMC are empty for many years after built.

Ah, ghost cities.
Seen many of them in Quận 9 in HCMC.
A sad sight, they look like toy houses.

 

[ChineseTiger1986]

They need to crackdown on this before another Evergrande happens.
Rising land price = bad news.

fast money on the real estate = ponzi scheme

This is going to be bad in the long run for your economy, especially the manufacturing base.

When your manufacturing base isn't yet consolidated, your real estate bubble is already running out of control.

 

[REhorror]

fast money on the real estate = ponzi scheme

This is going to bad in the long run for your economy, especially the manufacturing base.

When your manufacturing base isn't yet consolidated, your real estate bubble is already running out of control.

Thanks.
Hopefully the govt will look into it.

This real estate speculation is really bad, building things for ghosts.

 

[ChineseTiger1986]

Thanks.
Hopefully the govt will look into it.

This real estate speculation is really bad, building things for ghosts.

When you burst those bubbles, it is going to be some short term pain, but it is still better than the long term pain.

That's why those crooks from Evergrande need to pay for what they did.

 

[Song Hong]

Government will not do anything to it as per what Chinese government is doing. High real estate price funded infrastructure development. But one big problem in Vietnam compared to China is, a lot of Vietnam properties belongs to private.

Hence government get not so much.

 

[REhorror]

Government will not do anything to it as per what Chinese government is doing. High real estate price funded infrastructure development. But one big problem in Vietnam compared to China is, a lot of Vietnam properties belongs to private.

Hence government get not so much.

Nah, don't think so, government can retake land, no problem.
There was a big stinker over real state corruption from Alibaba (VN real estate company, not China), and lot people were put in jail.

 

[Song Hong]

Nah, don't think so, government can retake land, no problem.
There was a big stinker over real state corruption from Alibaba (VN real estate company, not China), and lot people were put in jail.

You kidding? Government retake land. Many Viet in PDF have land worth 100 years their salary.

The most is government implement property tax.

 

[REhorror]

You kidding? Government retake land. Many Viet in PDF have land worth 100 years their salary.

The most is government implement property tax.

They absolutely do if the ones who hold the land are criminals.
Alibaba crime was selling land that wasn't theirs in the first place.

 

[Viet]

fast money on the real estate = ponzi scheme

This is going to be bad in the long run for your economy, especially the manufacturing base.

When your manufacturing base isn't yet consolidated, your real estate bubble is already running out of control.

Some of them are probably hot chinese money.
They drive up the prices. There’s not much rich people in VN. Finished apartments will cost millions USD. Impossible to buy at that price.

 

[Song Hong]

Vietnam was screwed by the traitor South Clique Nguyen Tan Dung who privatized all the land. Right now government is lame duck.

My father in law sitting on top of land that is probably 200 years of his salary. He got a 200 sqm land in village bought at 2k USD in early 2010s, now cost about 200k USD. This is village -- not Hanoi.