If you’re living abroad and want to buy property to invest in, or even live in, Vietnam could be the ideal destination to settle on. There are many reasons why it’s a good time (and a good idea) to buy property in the country, and we’ve put together just some of them for you to consider. Buying property is a long-term investment, so you will need to do your research before committing to anything but, when you do, Vietnam could be just what you are looking for.
Plenty To Choose From
For anybody buying property anywhere, know you can turn to mortgage lenders online who can help you to determine how much you can spend on your new property. In some cases, you might find that you are limited in your choices, depending on your budget. That’s not so much the case in Vietnam. In recent years thousands of new properties have been built thanks to investment into the country, and that means that not only are there many properties to choose from, but there will also be plenty that fall into your budget, no matter how large or small it may be.
Having choices is a good thing. When you have choices, you won’t rush over making a decision and then regret what you have done and where you have invested your money. You can take your time to find the ideal property and ensure that everything is in place before you sign any agreements or spend any money.
It’s A Beautiful Country
Whether you are buying a property to live in, or you want to rent it out as a vacation home (and perhaps retire to it at a later date), Vietnam makes a lot of sense.
If you’re living in the property, you will find yourself surrounded by the most beautiful scenery and vibrant of cities, all on your doorstep. No matter what you are looking for in a place to live, Vietnam can offer it to you, as it has it all. This is why it is such a draw for tourists as well, meaning that your property should easily be able to be rented out for them to stay in when they are on vacation.
If this is the option you like the sound of, it’s important to hire a professional management company to help you, especially if you don’t live in Vietnam yourself. Otherwise, you will never know what is happening and what might need doing at your property.
You Can Build Your Own
In 2015 the rules regarding foreign investment in property changed, making it a lot easier to non-nationals to buy property in Vietnam. It also meant that they could buy land on a 50-year lease with just a three-month visitor visa. This is ideal if you want to build your own property, which can often work out cheaper when you add up all the tax that is required when buying a fully built property.
Building your own home or vacation apartments gives you ultimate control over the design, size, and budget, and if you can’t find what you want or you prefer to have something that is truly yours, then this could be the way to do it.
You will need to decide whether you journey to Vietnam to oversee the project or you hire trusted supervisors and foremen to do the job for you. It’s a good idea to go there at least a few times during the build if you are not staying there throughout, just to make sure that everything is going in the direction that you want it to. The last thing you want is for the build to be almost finished when you realize it’s not quite what you were expecting. It will cost you time and money to get things fixed, so it’s best to check in regularly before too much work is done.
The Population Is Growing
Vietnam’s population is growing rapidly and is expected to reach 120 million by the year 2040. All of these people will need somewhere to live, and if you own a piece of Vietnamese real estate, you know you will always find someone who will want to live in it, giving you a good return on your investment.
Landlords often fear those times between tenants when their buildings are empty but they still have bills to pay. It is unlikely that this would happen in such a densely populated place as Vietnam. Once one tenant leaves, another will be ready to take their place, giving you a steady rental income on your investment.
Saving or investing, which way to go?
Featured image of Vietnam from unsplash.