Updated: Aug 5, 2020
We just conducted an independent survey with more than 200 Vietnamese individual real estate investors –the ones who spend money on apartments, houses, land to live or invest and play the most important role in the real estate market. Below are their thoughts about the current real estate market. (Part 1)
(Vietnamese Investors at an Investment Event. Photo: VnInvestors)
The survey was conducted on people - who have bought houses and land, by direct interview via email, text, phone. We sent questions to people who related to this subject and they independently give their thoughts and assessments by answering all or part of the questions. The survey team is independent, does not represent project owner, government or any other organization (ex: credit institutions, banks) that may affect the independence of the respond. This is the summary of the opinions in the survey.
1 / Have you ever invested in a house / land?
All answer yes.
2 / What are your good and bad impressions about the project owner / seller or broker?
Apartments: insecure about handover progress, ownership completion, management, operation, and commitment of seller.
Land: no transparent information about legal issues, ownership rights, and potential disputes.
3 / In your opinion, what are the risks in real estate investment?
Projects's legal status.
The uncertainty of the commitment of project owner / seller.
Unclear details of terms and conditions.
Operation and maintenance.
Infrastructure and connections of surrounding facilities are inflated, distorted, or not as synchronized as in the description.
4 / Have you ever been put at risk (or cheated)? If yes, could you please tell us?
37% of the respondents answered that they have purchased the apartment for many years but still have no pink book.
21% said they were involved in disputes when buying land