Vietnam’s Real Estate just COLLAPSED! Find out more in today’s episode of Real Estate in Vietnam. Attorney Ken Duong shares in detail about what he thinks about the rapid decline of Vietnam’s real estate market, from what to led to the real estate collapse to bank loans and current business climate in Vietnam. Learn about the reasons behind Vietnam’s real estate collapsed and get Attorney Ken’s take as a real estate investor who has been living in Vietnam more than 10 years. Finally, he will discuss whether you should invest in Vietnam and buy real estate this year as a foreigner.
00:00 Intro
01:36 Timeline of Vietnam’s Real Estate Collapse
02:00 Real Estate Market Prices
02:50 What is happening?
03:36 First reason for Real Estate Collapse
04:35 Robert Walters’ Survey
05:05 Second reason for Market Decline
06:47 Attorney Ken Duong’s opinion
09:36 Consequences of Real Estate Market Drop in District 1, Ho Chi Minh City
10:37 Should you invest and buy real estate in Vietnam right now?
11:08 Prediction
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47 Comments
Bubbles burst first where the countries that grew the fastest. We will have a worldwide burst
Most developments are owned by the CCP's even the banks so your money is going to evaporate one day
Any nice villas by the sea?
It usually takes 2 years from the start of rates hikes until the drop in RE prices. I suspect we're going to see a global RE price correction over the next year or two. It's like any other asset, it went into a bubble, but the correction will be painful. I might buy a few condos in Vietnam if the prices are good in 2024-2025.
Why the heck boat people would in the right mind go back to a communist country to invest in the first place ? You purchased a property but the land title still belongs to the state, does that really make sense to you ?
Big whales went to jail, that’s the cause of collapsing. Don’t catch a falling knife.
I feel like the local market is dropping hard and outer areas, but Thu Theim for example for foreigners is resilient. I have been going to sales releases in Thu Theim and it's been a free for all bloodbath still. Just know the market and most foreigners have to be cash buyers so interest rates in Vietnam don't really affect the high end so much
It is good news for the poor people can buy a house in vietnam. Thanks for your video.
This is the problem when Banks depend on borrowing too much US Dollars and could not cope up with the interests.
My friend. I really appreciate the time you spend on keeping us informed about the economy. As of august 15th 2023. I count on $1,500 what do you suggest me to invest in?🇺🇸🇺🇸
Far from the bottom. I am in Bangkok and the real estate is cheaper than Saigon which doesn't make any sense. The Vietnamese market is in a bubble.
good job. average american has no idea how widespread the recession is….truly global in scale
High risk, high return 😊
High profit and finally you got busted 😂😂😂
Being assertive and optimistic is great, being realistic is also certified, the VND Bank reports the Inventories, something has to be completed. ePLDT/PLDT/SME/SMC-Group/MCO/Generalist/Supervisors/General Manager(s) Property Manager(s) Building Administrator(s)for our respective Statistics to account movements-adjustments to QUALITY/QUANTITY/associations/LLCs/Patents/Registrations/Registered/SEC/Accreditations/Auction house partners/Tierage 1 and 2 Levels 1 and 2 for your respective evaluations to regard excellence of services/materials. Thank you Tierage. ****IMPORTANT***** date 2006-dated 2089 to date 2023.
I would love to invest in Vietnam.
There's gonna be houses on every street and corner. Ccan you imagine?
According to professional real estate in Vietnam is bubble
It's just the beginning…don't buy yet
Let the Banks feel the pain
Vietnam is the same boat as China
When the West promoting Vietnam as an alternative to China, all very excited and speculated in real estate by taking loan in USD. Now they can't afford to pay in USD due to exchange rate. Then westerners quickly dumped Vietnam shares to make fast money. I the end, locals suffer.
Like Cambodia, Vietnamese like to use USD. They don't even trust own currency. This further aggravates the collapse of Vietnamese Dong.
Vietnam builds crap houses and apartments, they shouldn’t cost much
It's going down more by next year so it's better to wait.
Do you seee the Vietnamese government changing the rules so foreigner can buy properties without having a visa or allow the entire purchase process to be online???
The entirety of South East Asia is in a real estate bubble. Vietnam is just the first domino to officially fall. China has a surplus of properties. THe Phillippines looks overpriced as does Malaysia & Singapore.
Dude, you spend 10 minutes telling me how bad it is and then you want me to invest?
Just my thought. People pushed it to like 4x, and it only dropped 50%. Got to drop another 50%.
Nice reasonable 👍 agreed
The subtitles are annoying. If I want subtitles I can turn it on myself
Soon for canada
Very concise explanation and info thanks
I thought you’d have to be a Vietnamese citizen to buy?
This is exactly why you should only buy real estate in China and no place else. China can resist American pump and dump cycle via interest rate. Nobody else knows how to do that. If China does not save you from USA, Argentina is saved, you are toasted , see Vietnam. LOL
None of my friends here in VN felt any pain from this burst, actually they’re set to buy more and the ability to foresee 10 yrs ahead.
I don't think it's important how much money you spend to buy this bag. It can save money and showcase your unique style. #eastlisa bag is great
How much costs in average an apartment with 3 rooms? a good one?
never invets anything to communist party
Soon will be a good time to get back into real estate
Why has the Communist Government not listed as one of the primary reasons this problem exists!!!!!!!!!!!!!! WTF
Thirty Eight thousand and one hundred dollars correctly. Dropping only this much is nothing, back in 1993 I had seen more than one hundred thousand dollars drop in Southern California. I bought an year old house $165,000 in 1989, it started to drop 1991 to $150,000, and in 1993 my house value was less than $50,000. In 1994, I viewed many houses with the same size were auctioned at a little above $40,000. I sold my house in 2001 only at $180,000. In 2002 my neighbor sold his house $425,000.
Any chance that will become a contagion and reach other Asean countries with high exposure to real estatement investment like the Philippines and Indonesia?
Vietnam's economy is much exposed to Western , US economies.
No worries, incoming WW3 will clear everything !
This is a great news! The government did a good job to stop this volatile.
Tell me specifically which properties have dropped 30 or more %? I am interested in buying. Thanks
Good! Real estate gotten to greedy I hope the bubble doesn't just burst but hopefully people find out that land and building are not worth anything but dirt and wood.