Vietnam to allow foreign ownership

[Anthony5]

Have any of you ACTUALLY READ the post?

It's only a 50 year lease..........

YOU STILL CAN NOT OWN LAND

Literate...(at last)

But you must have missed this one.

Foreign individuals married to Vietnamese citizens are entitled to freehold tenure.

[HerbalEd]

and the exodus stars: NOW ! Another nail in LOS' coffin.

I'm not going ... I'm staying right here in Thailand.

[ravip]

Great News! lets pack our suitcases and start investing in a country that wants to move forwards. WAKE UP THAILAND - your neigbours are light years ahead of you and their beaches are also nice!

Why are you hopping from one country to another?

Home is unlivable?

[connda]

"Goood Morning VIETnammmmmm! <think Robin Williams and go from there>

[Chris Lawrence]

Competition to attract the dollar/pound/repuee a good thing for their economy.

[ableguy]

So you can't own anything you can just get a 50 year lease and only 30% of a condo block can be foreign owned. Not a lot of difference to here really....

A major difference you can buy a house and the land it sits on, the fifty year lease is renewable . Learn to read before you start spouting off,.

[ggt]

This is huge...great step to allow foreigners to feel more at home in Vietnam...Vietnam has an accommodating culture, stable gov't, friendly people, reasonably economic with beautiful beaches and mountains...what's not to like?

If you think petty crime, corruption, two-tier pricing and scams are getting too much to bear in Thailand, then you're in for a very, very rude awakening after you happily relocate to sunny Vietnam.

The subject was actually owning land in Vietnam...not petty crime, corruption, scams and such...

I have lived in Vietnam...enjoyed it immensely...

The hassles you allude to are prevalent in all the SE countries...

[Jonmarleesco]

'The move could herald the start of more foreign ownership law changes throughout the region ...' In Thailand? I seriously doubt that, given the Thais' paranoid and nationalistic obsession with land ownership by foreign residents.

[Bakeman]

They forcefully take wanted property from current Vietnamese land owners, so what makes anyone think they would actually own the land at all???

[pkrv]

The 50 year lease only option (50 years rent upfront) - is the killer here. For condominiums the 30% foreign ownership would cause problems outside of the capital. Anything built catering for western tastes, can sometimes mean that the remaining 70% (in this case) is unobtainable and/or undesirable by the mainstream population.

There are examples of this in Thailand.

foreign ghettoes are the answer....

No Ghettoes are not the answer - However it is possible for the Farang quota to sell out and the remainder of the building not to. Leaving developers selling leases (rent up front) and there is nothing to stop them from doing so, surreptitiously or not, or for skeletons of condominiums littering the landscape. Thailand has been through that learning process and has much more stringent controls in place than in the past. Vietnam is doing a Dubai special - You personally cannot own anything (unless as correctly stated in Vietnam, you marry, an option not available to some) the property is owned by the Dubai royal lineage, or in Vietnam's case political lineage.

[kinmaew]

On the surface this is bloody fantastic I love Vietname it could be bye bye Thais very soon and with the plethora of budget airlines who cares its only 2 hours back to Tom Yum Goong and kitty. House and Land in Viet would be cheap but just saying that wait for it.... prices to rise.

[RigPig]

So you can't own anything you can just get a 50 year lease and only 30% of a condo block can be foreign owned. Not a lot of difference to here really....

A major difference you can buy a house and the land it sits on, the fifty year lease is renewable . Learn to read before you start spouting off,.

Spouting off ?

50 year LEASE, NOT ownership, Thailand is a 30 year lease, 20 years wont make much difference to my life!!

As I said in an earlier post, "what happens in divorce", the wife gets the land? No difference then is it, if there is a difference then why only when you marry? So we marry a Vietnamese woman divorce her and keep the land? I am SURE there would be PLENTY of women willing to take the part for a fee, BIG LOOP HOLE...

No ome knows if the 30 year lease is renewable yet over here as it hasn't happened yet (but apparently will soon) so what is the REAL difference, same Stuff different box, to me anyway!

When we can actually BUY and OWN the land in an Asian country (without strings attached and as most of them can in our countries) then I will get excited.

[Anthony5]

So you can't own anything you can just get a 50 year lease and only 30% of a condo block can be foreign owned. Not a lot of difference to here really....

A major difference you can buy a house and the land it sits on, the fifty year lease is renewable . Learn to read before you start spouting off,.

Spouting off ?

50 year LEASE, NOT ownership, Thailand is a 30 year lease, 20 years wont make much difference to my life!!

As I said in an earlier post, "what happens in divorce", the wife gets the land? No difference then is it, if there is a difference then why only when you marry? So we marry a Vietnamese woman divorce her and keep the land? I am SURE there would be PLENTY of women willing to take the part for a fee, BIG LOOP HOLE...

No ome knows if the 30 year lease is renewable yet over here as it hasn't happened yet (but apparently will soon) so what is the REAL difference, same Stuff different box, to me anyway!

When we can actually BUY and OWN the land in an Asian country (without strings attached and as most of them can in our countries) then I will get excited.

No one nows if 30 year leases are renewable yet overhere as it hasn't happened yet ?

The LAW says they are not renewable. Did you think that the lease registration came into place less than 30 years ago? It happened long time ago already, one example is the Dusit resort in Pattaya, who's lease expired merely 15 years ago.

I have such a feeling that if CBRE are positive about the new law in Vietnam, they have a reason for that, since they know what they are talking about.

Thailand is a 30 year lease, 20 years wont make much difference to my life!!

In my book 20 years make a lot of difference in my life, actually 50 is almost double of 30.

As I said in an earlier post, "what happens in divorce", the wife gets the land? No difference then.

Actually there is nothing mentioned about that, so you make only Assumptions, and in in fact it's a lot of difference because in Thailand you don't need to divorce to lose your land, since you have no rights on it to start with.

I take it also that you marry only with the intention to divorce then.

[MyFriend You]

You might expect a giant sucking sound in Thailand.

Not today, all of the happy ending massage shops have been closed down in Sukhumvit

Tks I needed that.............

[MyFriend You]

On the surface this is bloody fantastic I love Vietnam it could be bye bye Thais very soon and with the plethora of budget airlines who cares its only 2 hours back to Tom Yum Goong and kitty. House and Land in Viet would be cheap but just saying that wait for it.... prices to rise.

Rising Prices?? They already have - I started investing in Land in Vietnam in 1998 - a Paddy (90 sq mtr ) then cost $800 now up to $3,000 No, I can't own it under the old rules, but my Lawyer is working on adding my name on it now under the new rules..............as for the poster that is worried "if you get divorced does the wife get the property??" - name a country that they don't have a better chance than you in getting at least half or all of your assets upon divorce. Not a problem for me, I am not married, but my girlfriend - turned business partner - is the most trustworthy person I have ever met - been together 16 years. We own a couple square kilometers of producing rice fields, and a fish farm in the Delta region.

This new law will be a real boost to the residential development in the Coastal area's - most Farang's (Mee) were afraid to invest under the old rules, I can see miles and miles of beach resorts popping up.

[mitsubishi]

So you can't own anything you can just get a 50 year lease and only 30% of a condo block can be foreign owned. Not a lot of difference to here really....

Big difference. The Thai 30 year lease cannot be inherited for one thing. Whether the Thai 30 year lease can be renewed is a bone of contention as no properties have reached the 30 years yet.. One in Phuket is about 4 years away and nobody is able to sell their lease because nobody is believing the "roll over" bit yet. Also a foreigner can own freehold if married to a local in Vietnam.

Still not a HUGE difference. As VN is still communist (no democracy) I would think leaders and rules could be changed at the stroke of a pen. Then you have general lifestyle changes compared to here.

That's exactly what comes into my head as well, mention China or Vietnam and the first warning sign into your farang head should be - Communist warning warning warning!

They don't deserve a penny from us for what they did. At least LoS tries to be pro-western instead of 'lets pretend now we're capitalists as well'.

Edited November 28, 2014 by mitsubishi

[Alwyn]

So you can't own anything you can just get a 50 year lease and only 30% of a condo block can be foreign owned. Not a lot of difference to here really....

Big difference. The Thai 30 year lease cannot be inherited for one thing. Whether the Thai 30 year lease can be renewed is a bone of contention as no properties have reached the 30 years yet.. One in Phuket is about 4 years away and nobody is able to sell their lease because nobody is believing the "roll over" bit yet. Also a foreigner can own freehold if married to a local in Vietnam.

Still not a HUGE difference. As VN is still communist (no democracy) I would think leaders and rules could be changed at the stroke of a pen. Then you have general lifestyle changes compared to here.

That's exactly what comes into my head as well, mention China or Vietnam and the first warning sign into your f Maybe because of it's proximity to HK, don't know but I really enjoyed it and the peoplarang head should be - Communist warning warning warning!

They don't deserve a penny from us for what they did. At least LoS tries to be pro-western instead of 'lets pretend now we're capitalists as well'.

Being a Brit I wasn't impacted by Vietnam (I was at school then) and I don't know really what happened and why you made that statement (my ignorance I guess) I had a vacation in Vietnam and it was okay, I spent a year or more in China and I'd say that the people from Beijing are the most racist people I've come across. I was told by staff I couldn't employ "that person" because he/she was from place other then Beijing etc.. On the other hand I spent most of my time in Shenzhen, what an awesome place! Maybe because of it proximity to HK, I don't know but it was fabulous, the place and the people. Laos is nice too, still communist though, but what the heck, Yugoslavia was a great place to visit while |Tito was alive and was communist! (All the ex-Yugo countries are great to visit now too - with the exception of Serbia)

[NanLaew]

This is huge...great step to allow foreigners to feel more at home in Vietnam...Vietnam has an accommodating culture, stable gov't, friendly people, reasonably economic with beautiful beaches and mountains...what's not to like?

If you think petty crime, corruption, two-tier pricing and scams are getting too much to bear in Thailand, then you're in for a very, very rude awakening after you happily relocate to sunny Vietnam.

The subject was actually owning land in Vietnam...not petty crime, corruption, scams and such...

I have lived in Vietnam...enjoyed it immensely...

The hassles you allude to are prevalent in all the SE countries...

Indeed it is the subject matter.

I have worked and lived in Vietnam for the best part of 9 years past June and I agree, it is pretty good.

However, I would wager that most of those already packing their bags and searching for flights have the same littany of lower-order complaints about Thailand. Just a friendly reminder, as you point out, the whole region is rife with the Asian 'hustle'. Owning the farm (or otherwise) may be the star attraction but once the guild if off that lilly, it's mostly same-same... but different. Oh yes, and there's no bloody Vegemite either!

PS. What color of sunglasses do you recommend for the Vietnam neophyte?

[IMA_FARANG]

and the exodus stars: NOW ! Another nail in LOS' coffin.

----------------------

Don't be fooled.

Even under the new law it will not be that easy to buy and own property in Vietnam.

For example, unless they have changed it, local councils are allowed to choose whether the local "people's committee" will be allowed to approve or disapprove potential buyers of land.

Certain areas, and certain nationalities, may be "disapproved".

Still. to be fair, it is a big improvement.

Just, like any government, don't believe everything they tell you.

[loongdavid]

Good grief! they drive on the wrong side of the road, how could anyone put up with that!

[Anthony5]

Good grief! they drive on the wrong side of the road, how could anyone put up with that!

Don't worry they gone revert it 1/04/2015, they will do a test with the trucks only a month earlier.

[loongdavid]

Yeah, 1 April, right!

[maidee]

wow, just wow ....

so in vietnam, married to a local, you could ALREADY buy land, house ...

in the meanttme in thailand .... still forbidden, because we might STEAL it back to our home countries

if you inherit anything in thailand, your family still have to bring in the same amount as the condo they inherit, so they inherit in fact, NOTHING, they just pay for it again ...

and now business opportunities in myanmar

hope people will start to see the light, but probably, only after the door shuts, and that is what the rich chinese thai elite wants, 100% control over anything and please, no fair competition

way to go vietnam

[Guest]

Have any of you ACTUALLY READ the post?

It's only a 50 year lease..........

YOU STILL CAN NOT OWN LAND

if you are married to a viet you can have the freehold which a lot of us are married to a thai lady, so that at least is a big plus and vietnam will benefit from this change there is no doubt.

wake up mr prime minister and help thailand and stop taking an anti ferang stand.

[RigPig]

Have any of you ACTUALLY READ the post?

It's only a 50 year lease..........

YOU STILL CAN NOT OWN LAND

if you are married to a viet you can have the freehold which a lot of us are married to a thai lady, so that at least is a big plus and vietnam will benefit from this change there is no doubt.

wake up mr prime minister and help thailand and stop taking an anti ferang stand.

I can't remember exactly what the situation used to be like here (Thailand) but the rules were changed because foreigners "were taking advantage" of Thai women in order to secure property, I believe. So that could easily happen in VN too, especially with a communist government. As I asked before, what happens in the case of divorce?

I really don't see any MAJOR advantages in ANY Asian country, none of them allow unfettered or unconditional land ownership, and yet we continue to allow them those rights in our own countries. They are all basically xenophobic, it's part of the culture. Maybe it is their way of taking over the world....