A Day in the Life of KAZE Interior Design Studio in Ho Chi Minh City

By: Katie Kinnon

What is Functional Beauty? Fong-Chan Paw Zeuthen from KAZE Interior Design Studio explains.

Time for Gelato! KAZE Interior Design Studio goes on location.

Collaboration makes it happen; KAZE’s style of brainstorming.

The word KAZE is Japanese for ‘wind’ it represents expansion, growth and freedom of movement. Danish architect Fong-Chan Paw Zeuthen chose this name for her boutique Vietnam based interior design studio when she launched it in 2009 as a reminder to never allow KAZE’s sense of style and knowledge stagnate. The goal of each KAZE designed projects is to have the same sense of movement, lightness, and power as a gust of wind.

KAZE Interior Design Studio

KAZE interior design studio, has been going strong for more than 10 years and it is one of the top interior design studios in Vietnam. The firm has taken on more than 100 high-profile projects across Vietnam and Cambodia. Specialists in development in the fields of Hospitality and F&B, the KAZE team has transformed the style and spirit of major projects such as Le Meridien Cam Ranh Resort & Spa by Marriot, Liberty Central Saigon Citypoint in Ho Chi Minh City and DIAMOND ISLAND PENTHOUSE & VILLAS by Kusto.

KAZE Interior Design Studio

KAZE Interior Design Studio’s Idea of Functional Beauty

Fong-Chan has an unwavering commitment to what she calls her “building for humans” philosophy. This means nothing goes into the space that will not be useful, comfortable, and aesthetically pleasing. It should be a usable space, not simply a pretty picture.

As Fong-Chan puts it, “you can tell a lot about how a person runs their company by the way the toilets are kept.” If management only cares about the aesthetics of a company and not the functionality something has gone wrong.

Far from the stark, harsh modernity that can be found in certain ill-designed spaces, KAZE Interior Design Studio’s projects are categorised by beauty, light, warmth and innovation.

But what happens between concept creation and the moment that someone walks into a fully realised KAZE designed space? City Pass Guide acts as interior designer for one day to learn more about the processes, inspirations and, at times, frustrations of being the leading interior design studio in Vietnam.

KAZE Interior Design Studio

Mornings in the Beehive; KAZE Interior Design Studio Gets Ready to Get Creative

When someone walks into KAZE interior design studio in Saigon’s District 2 it is clear to see that the office is a hive of energy where anything and everything can instigate inspiration. Fong-Chan has created a unique environment that is the right balance of easy going and innovative. Interior design books stacked on shelves range from tomes about types of marble used in 15th century Italy to glossy coffee table books filled with new design trends. The volumes propped open suggest the team study hard and the single-use plastic free ethos provides an insight into the environmental focus of KAZE’s design projects.

The open plan office is fairly minimalistic in terms of design with a mix of dark wooden desks and large glass windows that let in lots of natural light. While the monochrome colour scheme enables the raw materials that are scattered around the office to pop.

Desks are covered with brightly coloured fabric samples, varying sizes of intricately detailed tiles and project sketches. It is mind-boggling to imagine how all these snippets of inspiration can possibly turn into a finished project. The different textures, colours, patterns, and shapes are the starting point for the designers to focus their ideas and start putting a design idea into actuality.

KAZE Interior Design Studio

Individuality is the Key to Creativity

Each designer has a different style of working. A junior designer named Duong loves following new trends and finds ways to incorporate them into his work. Maria, a project designer is detail oriented. Part of her morning is typically spent researching ways to use historical styles while maintaining modernity. Other teams members contribute their individual senses of style and focus to create an environment that is always in “creation-mode”. KAZE is a boutique company of only 28-30 employees, this enables Fong-Chan to get to know her team on a personal level and get a sense of their likes, dislikes and work style.

KAZE Interior Design Studio

When Fong-Chan walks into the office she immediately commands the room. Despite having a cute dog following her around, she is a no-nonsense woman. She knows what every single person in the office is working on and exactly what they will be doing next. Like any great mentor, Fong-Chan looks after her team and ensures to regularly spend time with each and every member, going through what they are working on the moment, challenges they are facing and provide guidance on how they can improve. She takes pride in teaching every single member individually and she will push and challenge them until they unlock their potential.

As we walk through the office and take time to speak to the team members, one thing is clear, Fong-Chan’s team finds her to be an inspired leader.

Diving into the Project’s; an Afternoon at KAZE Interior Design Studio

All of KAZE’s projects are created from a story, they are what gives a project meaning. These stories are inspired by the brief from the clients, the space and location of the project as well as real-world experiences the designers have had. Fong-Chan organises annual design trips for the team to experience new things around the world and find new inspiration. Some of their most recent trips include Bangkok, Taiwan, and Milan. Without these trips, designers find inspiration from pictures on a computer and can’t really understand the emotions certain places can evoke or how they can awaken new senses, for example, the sense of achievement earned from reaching a mountain peak or tasting real gelato in Italy for the first time.

KAZE Interior Design Studio

Back in the interior design studio in Ho Chi Minh City, these experiences enable designers to create incredible projects together. In a small company like KAZE, the office feels like a symphony masterpiece, everyone is playing their own instrument but when put together it makes a beautiful finished product. In one corner, the junior designer is sketching out multiple designs to work out the best places for the lighting fixtures to create the right ambiance for the project. On the other side of the room, the project designer is using miniature furniture models to understand the way people would naturally enter a room and where they would want to sit down. Down the small hallway, a headphone clad designer is testing out the acoustics—he is listening to how the noise of ocean waves resonate against wooden walls versus concrete walls. The whole process is fascinating to watch and Fong-Chan is the perfect conductor.

Fong-Chan explains to us that KAZE has a “design language” and everyone needs to be able to speak it. This helps the KAZE team effectively communicate, brainstorm and develop ideas with each other as well as to understand all the ideas going on in Fong-Chan ’s head. For those who don’t speak the ‘language’ Fong-Chan spends her time managing their expectations, sometimes this can be with clients who don’t really know what they want and sometimes this can be with her own team who haven’t quite come to grips with their part of the project story.

Collaboration, Creation and Coffee in Saigon’s District 2

Every Tuesday and Thursday the KAZE team gather for a coffee break to socialise and discuss their ideas. Fong-Chan explains that there is a real buzz in the office during these meetings. Everyone suddenly goes from working quietly at their desks to talking loudly in groups, getting excited about project ideas and working out how their concepts can be developed. This collaborative effort helps to solve problems and generate new ideas.

KAZE’s Friday afternoon workshops are a fascinating way to experience the ins and outs of what happens during a design process. Each member picks a designer or design topic and delivers a presentation on it, detailing the history, inspiration, and work behind it. The workshops encourage the team to learn new things, try new ideas in their work and delve into a new world of design they may never have realised existed.

KAZE Interior Design Studio

Hometime

Burning the midnight oil is not a strange concept at KAZE, although it may not quite be midnight, many of the team stay after hours to develop their design knowledge and experience to improve their work. They work hard to ensure their part of the project is just right. They all dedicated and strive for perfection. A passion for design is the beating heart of KAZE, as one of the top interior design studios in Vietnam, it is clear to see that only those who work hard and are passionate about their ideas achieve success in this demanding profession.

KAZE Interior Design Studio

Image source: KAZE Interior Design Studio


Gateway Thao Dien: Raising the Bar for Luxury

By: Aleksandr Smechov

Gateway Thao Dien is Ho Chi Minh City’s answer to high-end, exclusive living

Investors may be surprised by the level of commitment Gateway Thao Dien has shown. It seems delays and misinformation are common complaints for anyone investing in property in Ho Chi Minh City. Luckily, Gateway Thao Dien has delivered on its word, and even provided added value for its investors - something rarely seen in the local real estate market. There are four ways Gateway Thao Dien has kept its commitment to its demanding home buyers.

On Point and On Time

To date, Gateway Thao Dien has reached all of its milestones on time. Construction has been carried out in a timely manner. From the beginning of October, the status of the project has been going along smoothly: Tower A (The Aspen) and Tower B (The Madison) are expected to complete level 20 and 22, respectively, this November. This means the projects is on track for its expected completion of date of the last quarter of 2017.

World-Class Partners

Backing Gateway Thao Dien are a number of highly reputable contractors and suppliers. These companies all have outstanding track records, and were carefully chosen for their professionalism. Gateway Thao Dien put much effort into acquiring the support of these partners - and buyers can clearly see the results in the quality of the residential complexes, the timely execution, and the customer support given throughout.

Cofico: Since 1975, Cofico has been renowned as one of the leading contractors for both civil and industrial projects in Vietnam. Honored to be appointed as the main contractor for Gateway Thao Dien, the team at Cofico is making every endeavor to satisfy the developer’s requirements for progress, quality and safety. The company’s brand name will act as a guarantor for the construction quality of the project.

Mace: In charge of construction management and supervision of the Gateway Thao Dien project, the Mace Group is a global consulting and construction firm employing 4,600 people across 70 countries. Their management and supervisory team are actively ensuring that the high quality products selected by Gateway Thao Dien are given the proper level of treatment during installation.

Searefico: This company is responsible for providing Gateway Thao Dien with integrated mechanical and electric solutions, as well as equipping the project with modern, high quality products and utilities. Lifts have been installed from world-renowned Swiss elevator company, Schneider; Daikin air-conditioners and Mitsubishi generators have also been added to ensure quality airflow and uninterrupted power. Using Building Information Modeling (BIM), SEAREFICO helps minimise problems in the construction process, ensuring quality installation and quicker progress.

Arup: Known for their intelligent, sustainable structural design, among other high-quality services, Arup is an international firm with 13,000 staff across 42 countries. They have been responsible for some of the world’s most famous structures. They have assisted Gateway Thao Dien with the tower blocks’ structural design, as well as the project’s penthouse floors. Gateway Thao Dien is one of the tallest residential buildings in HCMC, and Arup ensures all the buyers this will be one of the safest places to stay, in terms of structure.

Eurowindow: High-end windows are supplied by Eurowindow. The high-tempered glass is soundproofed up to 40bB, with powder-coated aluminum frames. Complying with AAMA2604 standards, Eurowindow will offer a 20 year warranty for all of its products.

A Surprise Upgrade

Buyers will be delighted to know Gateway Thao Dien’s developers have upgraded many of the appliances that were initially agreed upon. In particular, most bathroom appliances from Kohler and Toto have been promoted to Duravit and Hansgrohe. Teka kitchen appliances have been upgraded to the German Bosch brand. Digital door locks have been changed from Samsung/Yale to Häfele from Germany. Entrance and internal doors will be provided by Sunwood, with the same specifications as for their Marina One project, one of the most luxurious multi-purpose high-rises being built in Singapore.

Steep Rise in Property Value

Metro Line 1 (Ben Thanh to Suoi Tien) is the first metro line in HCMC, with a total span 19.7km and a budget of US$2.49 billion. After the development of Line 1’s master plan, numerous projects began to spring up in the vicinity of the train line. As Line 1’s construction nears completion, property values will rise for anything in the line’s vicinity - that includes Gateway Thao Dien, which is right by the metro.

Contact information:

Website: www.gatewaythaodien.com.vn

Hotline: +84 9 3205 7979

Addresss: Gateway Thao Dien Sales Gallery, 53 - 55 Nguyen Dinh Chieu, D3


Ibis Saigon Airport: A New Flagship for AccorHotels in Vietnam

By: Arik Jahn

The First International Brand to Open an Airport Hotel in Ho Chi Minh City

HO CHI MINH CITY, Vietnam — With an electrifying event, ibis Saigon Airport, AccorHotels’ brand-new hotel sitting right next to Ho Chi Minh City’s Tan Son Nhat International Airport, celebrated its grand opening on 24 March 2017. Ibis Saigon Airport is the latest addition to AccorHotels’ vast hospitality network in Vietnam.

Ibis hotel

Over a hundred guests, including Ho Chi Minh City officials, representatives from AccorHotels and the hotel’s owner company Hado Group attended the event, which paid tribute to ibis Saigon Airport with an opulent buffet, contemporary dance performances and a rooftop party.

“A Milestone for the ibis Brand”

The ibis Saigon Airport’s major asset is its strategic position: a mere 500 metres from Tan Son Nhat International Airport, the gateway to Ho Chi Minh City and all of Vietnam. Xavier Cappelut, Accor’s regional Director of Operations for Middle Scale & Economic Brand Hotels, praised the hotel as “a significant milestone for the ibis brand” thanks to its one-of-a-kind location.

Ibis Saigon Airport is a haven of hospitality tailored to corporate travellers and all those looking for “Value for Money”. With its functional and stylish travel-themed design and an outstanding 24-hour food and beverage service at the in-house Oopen restaurant, this hotel truly honours ibis’ slogan, “Well-being at the best price”.

ibis

As the first international airport hotel in Ho Chi Minh City, ibis Saigon Airport goes beyond the usual amenities of the economy sector. Its room typology – standard rooms, family rooms, studios, as well as one and two-bedroom apartments – is unrivalled in the budget segment, catering to the individual needs of each and every guest, from corporate clients to travelling families, from short-stay to long-stay visitors.

INTERVIEW WITH ORESTE TRAETTO, GENERAL MANAGER, IBIS SAIGON AIRPORT

Question: What makes ibis Saigon Airport the first choice for business travellers in Ho Chi Minh City?

Mr. Traetto: Our hotel is strategically tailored to business travellers. Our Oopen restaurant is open 24 hours and we are the only international hotel chain offering a breakfast service from 4 o’clock in the morning until 12 o’clock [in the afternoon]. So if you have an early flight to catch, you will be able to grab some food, get a coffee, hop on our free shuttle to the airport and you’ll be there in five minutes.

ibis oopen

Or imagine you are a businessperson, and had a hard working day. At ibis Saigon Airport, we provide you with all the facilities to truly reenergise you. What is very important to us is the ibis ‘sweet bed’ that can give you a really good rest. We have incredibly good feedback from our clients about it. And all that, I believe, shows how we really cater to the customers’ needs.

Question: You are very proud of ibis Saigon Airport’s in-house venues. Can you tell me a bit more about them?

Mr. Traetto: Today, travellers, even though they stay for a short amount of time, they want to optimise their stay. Now, with The Hub, ibis Saigon Airport has the only rooftop bar in  Tan Binh District. When you finish your work, you go upstairs, get a beer and enjoy the view of landing airplanes. We have a pool, we have a steam bath, we have a sauna, we have a gym – this is definitely what gives us the opportunity to attract a specific segment of clients. We provide our guests with a place to relax.

We are, if I may say so, part of the new generation of ibis hotels.

ibis hotel view

INTERVIEW WITH XAVIER CAPPELUT, DIRECTOR OF OPERATIONS FOR MIDDLE SCALE & ECONOMIC BRAND HOTELS, ACCORHOTELS

Question: AccorHotels is home to many brands. Why did you choose the ibis brand for this particular project?

Mr. Cappelut: I think this is a very unique location. The guests who choose to stay close to the airport have very specific needs. They might be in transit for a few hours, they might be spending their last night in Vietnam after a trip. We believe the level of comfort provided by ibis is just the right amount for these specific customers.

And the beauty of a brand like ibis is: you can travel anywhere in the world, you will find the same layout, the same service, the same comfort. Guests choose ibis because they know exactly what they can expect. That’s a guarantee that we provide to our customers. And they appreciate it.

Question: Vietnam is a country with an immense potential for tourism. How does ibis Saigon Airport serve this very particular market?

Mr. Cappelut: Vietnam is very important to us as a group. We, AccorHotels, have been in Vietnam since 1991. Back then, we were the only international hospitality company in Vietnam. That shows how committed we are to Vietnam as a business location.

And today, this country is developing at a dizzying pace. Last year, there was a 26% increase of international visitors and a 9% growth in the domestic market in Vietnam.These are incredible numbers.

And of course, we try to attract Vietnam’s domestic guests. The ibis brand perfectly caters to them because it is a functional, but full-service product that offers “Value for Money”.

Ibis Saigon Airport is quite simply the right product in the right place at the right time. And it is highly visible. In fact, we couldn’t be more visible than here at the airport. In that sense, ibis Saigon Airport is Accor’s flagship in Vietnam.

ibis hotel room

AccorHotels’ journey in Vietnam is far from over. In the next two years, the group plans to open another 12 hotels all over the country, which will bring its total portfolio to 36. But thanks to its eminent location next to one of Vietnam’s most important travel hubs and its many amenities, ibis Saigon Airport is undoubtedly a go-to for all Ho Chi Minh City-bound travellers.

 


Hong Kong and Singapore Investors Seek Opportunities in Vietnam

By: Timo Schmidt

Vietnam’s new laws for foreigners, released in July 2015, have already had great impact on the local housing market in the country.

Particularly, investors from within the region are amongst the first ones to actively seek investment opportunities in the country. Savills Vietnam has seen great interest and real demand from foreign buyers based in Singapore and Hong Kong. To better understand the reasons for their aggressive moves it is important to look at the local housing market in these respective countries.

Property markets in Singapore and Hong Kong have been heating up over the last decade due to ever-increasing demand from local and foreign investors. While Singapore is a preferred investment destination for buyers from Malaysia, Indonesia and mainland China, the market in Hong Kong has seen tremendous investment from the latter.

“Property markets in Singapore and Hong Kong have been heating up over the last decade”

To react to the social problems caused by the price increases - such as lack of affordability for first-home buyers - governments in both destinations have put cooling measures in place. These are now showing effect with a considerable drop in transactions, and prices are expected to drop in both countries.

In Singapore and Hong Kong the governments reacted as early as 2009 with a variety of cooling measures, which included:

  • Increase of Buyer’s Stamp Duty (BSD) for purchases of multiple properties of up to 15% in Singapore and 8.5% in Hong Kong respectively, particularly for non-resident foreigners and entities.
  • Seller’s Stamp Duty (SSD) on resale of properties with short holding periods in Singapore for periods of less than one year, which was later increased to three years. And in Hong Kong from two to three years.
  • Limits on loan-to-value for multiple unit purchases, meaning that buyers could not leverage purchases by using bank loans. Especially relative to foreign buyers or those who purchased multiple units.

These measures were specifically introduced to curb property investment and speculation - particularly by foreign investors - rather than preventing irsthome buyers from purchasing units. The effects are finally starting to show with transactions and prices decreasing in both markets, and talks of a property market crises making the rounds. More importantly, the yield potential in these markets has declined due to the additional purchasing costs.

Photo by: Tri Nguyen

Taking into consideration that Hong Kong and Singapore investors are amongst the most active in the region, Vietnam is seen as one of the most attractive destinations for property investment in Southeast Asia. With excellent yield potential and prices at a fraction of those in Hong Kong and Singapore, investors can purchase multiple units at the value of one property in their home markets.

“Vietnam is seen as one of the most attractive destinations for property investment in Southeast Asia”

Savills Vietnam was among the first real estate agencies to take advantage of this by creating an international sales department to actively promote Vietnam’s properties in these key markets; in collaboration with Savills regional offices.

“We have seen great interest of local developers to market their projects abroad, and have scheduled a series of sales events in Hong Kong and Singapore over the year 2016. Our offices in both countries are excited to promote Vietnam’s properties given that the easing of restrictions allows foreign investors to take advantage of low prices and excellent yields in comparison to their local markets,” says the head of International Residential Sales for Savills Vietnam. “Since inception of the department we’ve transacted nearly US$20 million in sales to foreigners without bringing projects abroad. We are confident that this number will increase dramatically over the coming months.”

The opening of the Vietnamese property market to foreign investors is expected to draw more foreign investment into Vietnam from private and institutional investors.


Can Vietnam Ever Become Green?

By: Michael Sieburg

Citypassguide.com met with Solidiance’s Michael Sieburg to determine whether Vietnam, and in particular HCMC, can ever become truly green. Here is the transcript of Michael’s comments:

Solidiance is a consulting firm that works with clients across industries. There are three industries we focus on. One is simply called industrial, which includes construction, chemicals, and all that. That’s the core of what we do. Then there is healthcare, especially in Vietnam. And what we call technology. In total we have 12 offices across Asia.

Within the industrial stuff we do, our research in green tech and buildings are really driven by two things: our personal interest and by our belief that this is where the country is going. We think Southeast Asian countries will be using these technologies more and more - green cities, clean cities, however you want to describe them. Our CEO is personally interested in this. He’s doing an online course with Harvard University to learn more about this subject. I don’t know when he sleeps. “When there is that mismatch of the developer and the user of the building, it can be harder to make it green because the immediate incentive is not there”

We are also a consulting company - we have clients who want to be where our other clients are - large multi-nationals. These companies are at the forefront of developing more efficient air conditioners, elevators, eco-friendly paint, smart grid technology, electric cars and batteries. Our clients are often innovating and making these technologies, and part of these projects involves green building output. They want to sell their products and part of their line is more energy efficient stuff.

School of The Art - Singapore

Most of the certified green buildings in Vietnam have been factories. And it’s not like there are thousands of green factories, but they are the biggest component, and I think part of it is that when you’re a company developing a factory, you’re also using that factory and they consume a lot of energy. It makes sense to find ways to save on that, even though electricity prices are low here, for now. A lot of these companies also have global standards that they must adhere to. “Our research in green tech and buildings are really driven by two things: our personal interest and by our belief that this is where the country is going”

One of the biggest factors in pushing green building practices is electricty prices. The government is currently subsidizing, which won’t go on forever. I think it needs to be balanced with low-income residents. For example, energy prices in Cambodia and the Philippines are high. And that hurts manufacturing investment there. Once electricty prices rise, there is a point when wind power become profitable, and at some point (economists figure out this point) you see further adoption of energy efficient machinery.

Calling for a country to raise electricity prices where many people cannot afford it is a difficult thing to do, which is why the government treads slowly.

Green Building - France

The cost of making a building is a bit more expensive - how much? That depends on what you’re doing. I think the real issue in buildings going green is when property developers create buildings for somebody else. The developer’s incentive is to keep costs down and cut corners where they can, because operating costs are somebody else’s problem.

When there is that mismatch of the developer and the user of the building, it can be harder to make it green because the immediate incentive is not there. You can argue that there is an incentive that you price the units higher when you sell them - President’s Place proved that correct.

Vertical gardens at Parkroyal, located in the heart of Singapore's Central Business District. Photo credit: Straits Times

At the moment there are not really well-defined mandates in Vietnam. In Singapore there are mandates - any new building must meet green standards. Everything here is left up to the developer, if they want to build green or not. If you talk to the architects around here, the younger generation is getting it, but not yet necessarily at all levels. What you do see here is that a building might not be certified green, but the water heaters are solar. There is a move towards that. A lot of hotels are doing that - they probably have some hybrid electric-solar water heater when it’s not a sunny day, but as a way to save electricity costs. “The younger generation is getting it, but not yet necessarily at all levels.”

So factories also have that. The biggest solar plant in Vietnam at the moment is Intel’s factory, which is saying something. Vietnam is a sunny place; you can’t run the whole country on solar, but is there a gap between what there is and what there could be? Definitely.

Green Building - China

Young people are interested in sustainable development, which is good to see. Saigon in some ways doesn’t have to follow the same practices as other countries - they have the luxury of learning from others’ mistakes, one would hope.


How to Buy a House or Land in Vietnam?

By: City Pass Guide

Foreigners who are living in Vietnam may purchase houses for the expressed purpose of dwelling in it. By Vietnamese law, land is a national good, so you can only own the structure built on a property, not the land that it is on. You can enjoy a “land use right” for up to 50 years. This duration can be renewed. Also note that if you’re married to a Vietnamese citizen or a Việt kiều, you will have the same ownership rights as Vietnamese citizens.

Seek professional advice to ensure that all steps are properly taken to ensure a troublefree property transfer.

Alternatively, according to Vietnam’s Housing Law, every foreigner who has a Vietnamese visa stamp on their passport can buy a property in Vietnam. However, if you enjoy diplomatic or consular immunities and privileges, this does not apply.

Besides individuals, foreign companies, branches, representative offices of foreign companies, foreign investment funds and branches of foreign banks that are operating in Vietnam are also entitled to purchase property of residential projects.


A serviced apartment in Diamond Island Luxury Residences

What are the limits of foreigners’ rights on residential property in Vietnam?

The law states that foreign individuals and entities may only buy, receive or inherit apartments and houses in commercial projects and not in areas that limit or ban foreigners.

Although the limit of one property per foreigner has been repelled, the new Housing Law sets a limit on the proportion of foreigners who may live in a determined area: the total number of units owned by all foreign buyers must not exceed 30% of the units in one apartment building, or 250 landed property units in one ward.

The duration of the tenure is supposed to be equal to the land use right owned by the developer, most likely 50 years, with an option to extend the land use right at the end of it. The exact conditions for the extension are still unclear and will be detailed in further regulations.


Crescent Residences in D7, HCMC

An expatriate may lease his/her property for any purpose that is not banned by law, but he/she must inform the provincial house management agency before leasing the property. In this case, he/she is subject to Vietnam’s property taxes. If you are an overseas Vietnamese or if you are married to a Vietnamese citizen, you are entitled to a freehold tenure on the property.

If you bought it, you could of course decide to live in the house but also lease it or pass it through inheritance to someone else without any difficulties. To lease it, you will need an administrative authorisation from the Housing Department of the People’s Committee where your property is located.

Can foreign-invested enterprises purchase residential properties in Vietnam?

Foreign-invested enterprises that operate in Vietnam under the investment law but are not engaged in real estate, can purchase residential houses for their employees. They must possess investment certificates or written certifications of investment activities as appropriate to investment forms specified by the investment law granted by a competent Vietnamese state agency. They can buy properties to house their employees, but are not able to use them for leasing or other purposes.

HCMC properties
Housing in Ho Chi Minh City. Photo: GettyImage

What are the steps to purchase a house in Vietnam?

1. Once you have chosen the property, you will have to sign a reservation agreement.

This legally links the buyer and seller and may include paying a deposit to the seller. Examine closely the reservation agreement before paying the deposit. It prescribes that if the buyer changes his mind, he will lose the deposit, and if the seller changes his mind, he will have to pay twice. You’re well advised to notarise this document to protect your interest.

2. Due diligence is the next step.

You will check the reliability of the seller by examining their ID or registration certificate along with the property’s certificates (for example the ownership certificate). You should also ask for a bank guarantee or insurance to ensure the seller is trustworthy.

3. Once due diligence has been satisfied by both parties, they confirm their engagement and interest by signing the housing contract.

An annex related to facilities that go with the apartment is advised. Make sure the agreement is signed by all related parties and if not, then by the representative who is mandated by the related persons. The contract on residential house purchase and sale must be in Vietnamese, so you will need a Vietnamese translator to help examine its content. Although many developers provide a bilingual version of the contract for a better understanding by all parties involved, only the Vietnamese version is valid under Vietnamese regulations. To help you with the complications involved with the contract, we list some details to look for before signing:

- Is it stated that the seller has the ownership certificate of the apartment and does he give a guarantee over this ownership?
- Is the apartment also a security for a loan?
- What are the responsibilities of the seller in case of dispute over the apartment ownership due to his fault?
- Methods used for payment?
- What are the responsibilities for tax and fees?
- What is the delivery time?

4. Paying taxes and fees.

Normally, if there is no other agreement between parties, the buyer pays the registration fee and the seller pays income tax. The payment shall be made at the tax department of the district where the house is located.

5. The last step is to apply for an ownership certificate.

Both parties can agree on how to handle issuance of the new certificate, although it is most likely that a buyer will have to take it up.


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