How to Rent A Cheap Room in Saigon?

By: City Pass Guide

What if I told you that, with a couple of top tips, you could rent a great room in Saigon for $150 US per month all inclusive?

Maybe you wouldn’t believe me. Right? You’re shaking your head right now. But with my 3 million per month accommodation slap bang in the center of District 1, complete with private bathroom, TV, air conditioner, fridge and a nice big window, I am living proof that my claim is absolutely legitimate. The question is, how?

Renting in Ho Chi Minh City is like leaping into a jungle. The possibilities are almost endless, but unless you know exactly what you’re looking for and how to find it, chances are you’ll never get past those first, very obvious obstacles.

I’m talking about the share-houses on the first few pages of Expatblog and Craigslist, the agent who inboxes you as soon as you post on the Ho Chi Minh City Facebook page, or that room your colleague told you about that used to house your other colleague and is in a house with four other colleagues. I mean those options that slap you in the face, almost before you get a chance to breath the Saigon air and hint that you’re looking to rent!

The reality is that the best deals in Ho Chi Minh City often require a bit of digging. But how do you start?

Top Tip 1: Know your Goals

If you’re honest with yourself you know the kind of place you’d be happy to live in, the kind of budget you can afford and the kind of area you’d like to call your neighbourhood. So write it all down.

Too many people come to Saigon and sort of want to rent a room, sort of don’t really know how or what, and sort of just end up somewhere… They don’t take the time to consider what it is they actually want! And they tend to settle, rather than fix a clear goal in their head and aim for it.

And then there’s the question of money. People usually think about their budget first, but it’s actually better to put it last. You can mold a budget to a dream, but if you mold a dream to a budget you’re bound to be dissatisfied! Line up a list of the things you need in a home, be brutally honest, and then figure out if you can pay for them. Prioritize things, cut some non-essential features out, and figure out your budget based on your requirements.

To start this whole process, ask yourself these questions:

Do I like people? Sounds strange, but if like me you are a bit of a hermit, a quiet house where you’re not required to socialize can mean the difference between homeliness and a life of constant stress. And vice versa! Socialites need friends, and share-houses are good.

Do I want to cook? Will you eat outside or inside? What sort of cooking facilities do you require? I have one friend who just orders in every night and has no kitchen, but another friend of mine cooks up oven-baked bonanzas every night! I myself have a portable stove and a rice-cooker in my room, and I cook simple Vietnamese food.

What sort of curfew can I work to? When I first came here I lived a few months in a place where you had to be inside by 11 p.m. or get locked out. And oh my I spent a lot of nights cursing on my doorstep! I now live in the most flexible place ever, and whether I stagger home roaring drunk at 3 a.m. or tuck myself into bed with hot milk before eight, my landlords don’t bat an eyelid.

What kind of facilities will I prioritize? From experience I will always prioritise a private bathroom and fast, reliable Wi-Fi. Other friends need air conditioning, a TV, a fridge, etc… It all depends on your lifestyle.

Do I need light? If my room didn’t have two windows I would feel like a clam, stuck inside my shell all day. Are you a light person? If so, rent a light room because believe me this will bug you endlessly.

Where is most convenient for me to live? Where do you work? How do you get to work? And where is the best place to live to make that “getting to work” process easiest?

Do I want to rent long-term or short-term? Often if you rent longer term your monthly payments will be less. Landlords often offer 12 month, 6 month and 3 month deals. See if you can bargain! That’s always fun.

Also consider these factors:

- Will you need parking/security for your vehicle? What will you drive?

- Do you want a private bathroom? (Yes you do trust me)

- How much of a clean freak are you?

- Is the landlord friendly and do they live there?

- Do you need furniture, or will you bring your own?

- Do you smoke? Have a pet?

- Is there a contract? I live without a contract which is great because I can leave when I want, but some people like the security of having a deal.

And now, only now can you think about money. How can you mold your budget to your dream home?

Top Tip 2: Make some local friends

Make friends with people who speak the local language, know the city well and are willing to help you network. Make friends with them anyway because they’re more than likely great people! But don’t forget to use them shamelessly as your “in” to the rental sector. Go to 23/9 Park in District 1 to hang out with local students, chat with people at your workplace, relax at some of the city’s popular bars like Broma or Blanchy’s Tash, and get talking!

I rent my current room from a good friend of mine who owns a restaurant here. We met almost a year ago, and the rate for my room is very much due to his kindness and the trust we have as long-term chums.

Top Tip 3: Drop your agent and get on the internet

Let me give you a nice, tangible example for this one.

I rented a room through an agent in the first 6 months of being here. I paid VND 7,000,000 per month for a nice little pad, with bathroom, fridge and cooking facilities included. The usual! He was an English bloke and he treated us very fairly. I paid a bond, and I held a contract through his agency. It was all very easy and nice. But in the same building, in a room with exactly the same facilities as me, exactly the same layout and even the same owners, a Vietnamese friend of mine lived for VND 3,500,000 per month. Simply because he had gone straight to the owner!

So how do you bypass the agents and successfully navigate an owner to renter agreement, in Vietnam, in a language you don’t understand?

Step 1, websites. Check out Batdongsan, Expatblog and Craigslist and make sure you browse past the first few pages! Get one of your newly captured local friends to help out, and make as many calls, emails and house visits as you need. Make sure you buy them a beer after...

Top Tip 4: Walk the streets

Have you ever wandered around Ho Chi Minh City and looked at the walls? I mean the walls of houses, telegraph poles, things like that. Have you? I would recommend it anyway because some of those walls are pretty darn interesting, but apart from anything else they often have signs on them with rooms to rent.

Not that you would know it without knowing Vietnamese! These signs are often on A4 white pieces of paper, and they usually have a big “phòng cho thuê” or “cho thuê phòng” slapped across the middle. These three words mean “room for rent,” and they are typically big fat advertisements for the kind of room you pay $150 US per month for, no strings attached. That’s how I found my last room, a VND 2,700,000 per month beauty at the top of an ancient Vietnamese town-house in District 1. So stare at walls, people!

Top Tip 5: Learn some Vietnamese will help you find a cheap room in Saigon

This one is a bit difficult and, as mentioned above, you could also very easily just invest in a Vietnamese chum. But the idea of using the local language is that you can then access the local real estate market.

With Vietnamese you can search the local version of Batdongsan, where prices are lower and the range is wider. With Vietnamese you can chat with landlords, negotiate prices, and fully understand things like registration, bond and the rate for electricity. With Vietnamese the price will also always be lower. Because I am a foreigner, a room that goes for VND 3 million to my Vietnamese friend Trang will be rented to me for VND 5,000,000. If I ask the landlord “why?” in Vietnamese he might drop a million, and if I physically turn up to view his room with Trang by my side he will likely quote me the “real” price! Vietnamese language or blood gets you Vietnamese prices. Fair enough I suppose.

Here are some useful words to get you started:

House - nhà (n-yaa)

Room - phòng (f-awm)

Rent - thuê (tt-u-ey)

Buy - mua (moo-ah)

Deposit - Tiền đặt cọc (teeng dat cop)

Contract - hợp đồng (herp dawm)

Water and electricity - Nước và điện (nurc va deeng)

Top Tip 6: Sign long-term contracts for your room

I bet you know this one, but I’m going to put it in this list anyway because let’s face it - it’s a top tip. If you can commit to a long-term contract then it is often a super good way to save money! As mentioned above, landlords often offer 12 month, 6 month and 3 month options and the longer you plan to stay the less you have to pay. Simple.

Top Tip 7: Live short-term in a hostel, deal

If contracts aren’t your thing and you’re a bit of a hipster at heart, why not consider renting a hostel bed for a month? I rented a bed in District 1’s Rou Hostel for one month, and at the end of the month I handed over a measly $110 US. The wifi was excellent, the bathrooms clean, the company was pleasant, the beds where huge and the location was prime!

I have also rented a room at the top of a guesthouse. This room was not part of the guesthouse itself, but an extra room that the owners like to rent out for more long-term visitors, and I paid USD $180 a month. I was literally right on the strip, in an alleyway off Bui Vien. For that little stipend my roommate and I got a TV, a big comfy bed, a private bathroom, a fan, a fridge and a balcony for washing clothes. Sweet! Have a wander through Pham Ngu Lao’s back-alleys and do a bit of wall-watching to find gems like this one.

Top Tip 8: Ask around if they know about affordable rooms for rent 

I will never forget the time I sat down to wontons and hủ tiếu khô, and got back up again with a new landlord and a room viewing the next day. I had just started nibbling at my noodles when a man plonked himself down next to me and asked in startlingly good English how long I’d been in the city and what I did. He’d seen me around often, and he wanted to know what the deal was!

We got talking and the topic of rooms popped up - I needed a cheap, nice room in town. He asked our street vendor about rooms, they chatted a bit, someone called someone else and everyone spoke in very fast very serious Vietnamese. And, at the end of it all, he offered me a room with a local woman just two streets over.

Now, I am not stupid. I did not give this man my full name or any contact details other than a phone number, and I did not intend on visiting the room alone with him - I would bring a friend. Safety first guys.

In the end I didn’t even get the room because someone else rented it first! But the point I’m trying to make is this - talk. Ask people. Ask street vendors if they know anything, ask salon workers, ask that man who tried to clean your shoes even though your ancient sneakers are obviously well beyond the clean-able stage! Ask, and ye shall find.

Top Tip 9: Make sure you're registered

Did you know that the dwelling for every foreigner here in Vietnam has to be registered with the government? And if you’re a foreigner your landlord must also have a special permit to rent to you!

Ok, so I’m pretty sure the owners of my last room had no permit and just paid someone to be quiet because they never took my passport, but legally speaking it is an absolute must! Just make sure that’s dealt with when you rent, whether legally or not...

Top Tip 10: Tips to make it cheaper

And finally, some sneaky rent-saving tips straight from a professional budgetter to you.

- Live above a restaurant - If he is doing it right, the owner already earns enough to pay his rent and more, so he can charge you less for your room. Be firm, bargain hard and stand your ground. You’d be surprised!

- How much for electricity? - Some places charge you as much as VND 5,000/KW which is absolute daylight robbery! The best rate I have found is VND 3,000/KW but the standard is somewhere between VND 3,500/KW and VND 4,000/KW.

- Rent for work - reduce your rent in exchange for English tutoring, help with renovations, cleaning, whatever takes your fancy! Work part-time for your landlord in exchange for lower rates.

- Rent without furniture - Sounds scary but it is totally feasible. Actually, a lot of my Vietnamese friends do this, and in my last room I did it too. You rent a bare room, and then you buy a mattress and some coat-hangers. The rent is lower and your mattress will cost you a one time fee of up to VND 1,000,000. Mine was VND 110,000, but it’s a very poor excuse for a mattress. I also purchased a stove and a rice-cooker! It’s like camping but in a room.

- Don’t use your air-con or TV! - Read a book instead of watching that mindless box, and use a fan rather than the air conditioner. It dries your skin out anyway!

Conclusion

This guide to renting cheap rooms in Saigon can also be used for those looking for affordable studio or apartments. Please share your own tips about finding the perfect place to stay by commenting below.


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.


Designing a Luxury Hotel with KAZE Interior Design Studio

By: Katie Kinnon & Molly Headley

Create a concept; mood and function first

Planning a project at KAZE Interior Design Studio, District 2

How to Create Comfort in KAZE Interior Design Studio’s Projects

The Finished Interior Design Project

Creating an Interior Design Concept in Vietnam

What do you want to feel when you walk into a top hotel? This is one of the first questions that the team at KAZE Interior Design Studio asks themselves when they start creating interior design and architectural concept for a new project. Is the hotel meant to create a mood of bespoke luxury or minimal tranquility? Who are the expected guests and how will the lighting, furnishings, flooring and colour scheme transport them?

A hotel is, after all, part of a journey, a place to get away, whether for business or pleasure. A good interior design studio creates that journey from the first sketch to the moment that the final piece of artwork is placed on the wall.

KAZE Interior Design Studio

KAZE Interior Design Studio in Ho Chi Minh City is the leader in luxury interior design in Vietnam and Cambodia. In addition to a broad design portfolio including residential, food and beverage establishments, and office spaces, the studio has taken on massive hospitality projects, which have brought numerous awards to the studio. Vinpearl Resort & Spa Long Beach in Nha Trang, Renaissance Riverside Hotel in Saigon and Courtyard by Marriott Phnom Penh are a few notable names on a list of more than 100 projects.

Fong-Chan Paw Zeuthen, Founder of KAZE Interior Design Studio, was brought up and educated in Denmark where, she explained, the design approach is very different to that of Vietnam. For a hotel designed for a Vietnamese market, she said that she would avoid using too minimalistic of an approach because the clientele would feel like something was missing. Instead, she tries to give finished projects a Vietnamese flair that local clientele will also enjoy.

First Steps in the Design Process at KAZE Interior Design Studio in HCMC

The Client Brief

Fong-Chan explains that with her years of experience she has come to quickly understand her clients psychologically and often knows what they want more than they do. She will offer recommendations on how the concept can be improved after receiving the brief. Fong-Chan will then return to the KAZE headquarters where the whole team will sit around the large table in the meeting room and discuss how to implement the project, always focusing on a “function first” approach. This approach means that aesthetics are only considered once space’s use is decided upon.

KAZE Interior Design Studio

The Planning Process

This is when the ideas go from the brainstorming phase to reality. The office becomes a hive of energy as project designers sketch plans and junior designers figure out how to create the right ambiance. Fong-Chan explains that her team is passionate about what they do and that’s why KAZE is a success. “Being a good designer comes from inside, you put your heart and soul into things you care about”, she reiterates.

Fong-Chan states there are four parts to every project, the statement of purpose, layout, ambiance, and storyboard. When executed correctly, interior design can make people feel a certain way. For example, the purpose of a reception area in a hotel is to welcome guests and so the way furniture is positioned, the brightness of lights and even the scent (which are often created specifically for the brand) create an ambiance of warmth, comfort and relaxation.

KAZE Interior Design Studio

3D renderings are essential for each project. They need to be self-explanatory and easy to understand. However, they can be difficult to get right due to the level of precision needed. It can be hard even for good designers to see things in 3D. A designer needs to be able to describe what the space will look like down to the tiniest detail, like where a coat hook will go. This helps to create a full picture of how everything will be pieced together. The 3D renderings are literally the map that will be used to build the project; therefore, nothing should go into the rendering that cannot be created in reality.

How to Create Comfort and Beauty; The Vietnam Hotel Design Challenge

Every designer has a different way to approach a design. Fong-Chan tries to use a modern holistic approach when she designs any space. This is especially important when it comes to a project like a hotel where the success of the project is tied directly to how guests feel when they are within the space. Her design projects focus on what makes people feel good, using psychological experiences rather than just aesthetics.

Designers need to work out the proportions of the room as well as what will be in it so that when it is built an individual can walk around a room without bumping into anything. The team also research how people will interact with the space, ensuring it is ergonomically friendly in every detail. For example, if a guest wants to flick on the lights, where should the light switch be? If it is at the right height and in an intuitive location then the designer can choose a subtle design so that the switch doesn’t ruin the aesthetic of the wall design. If the switch is too hidden and in the wrong place, guests won’t care about the beauty of the design, they will be too caught up in their feelings of frustration. Some designers get so caught up in their vision that they create functionality problems that will end up marring the hotel’s TripAdvisor page with bad reviews based around comfort, soundproofing, and the user experience.

KAZE Interior Design Studio

KAZE interior design studio puts a lot of love and care into the materials they use. The way Fong-Chan describes her process is akin to that of a chef creating their favorite dish. She becomes excited when speaking about why wood is used in one instance, but plastic is used in another and the different finishes that are available for each material. It is important for Fong-Chan to use local materials because construction workers know how to work with them and look after them properly. This also helps the project’s sustainability as expensive materials don’t need to be imported.

Completing a Hotel Interior Design Project in Vietnam

Fong-Chan explains that KAZE only works with people they know and trust. From construction workers to cleaners “when people have a good relationship with each other they will go the extra mile.” This is important because the biggest hurdle to completing an interior design project is to meet final deadlines.

KAZE Interior Design Studio

During the construction process, KAZE interior design studio office often goes into a frenzy of activity, with project plans and Gantt (production timeline) charts being thrown into the bin and new ones being created. Sometimes, Fong-Chan admits, the end of a project can feel like an unattainable dream. However, when the hotel or resort is finally finished and Fong-Chan walks through the completed space with the client, she always feels a sense of pride at what the team at KAZE Interior Design Studio has achieved.

Image source: KAZE Interior Design Studio


Developers, District 9 Is Up for Grabs!

By: Keely Burkey

For developers, much attention falls on one particular sector: District 9, a 114 k2 block of land which lies on top of District 2. Many reasons draw their attention to this uprising section: the land is cheap, the parcels are large and as of now, not much of it has been seriously developed.

Although land development stopped in this space during the global financial crisis of 2007 and 2008, recently builders have seen a major upswing in market interest for district 9. Troy Griffiths, the Deputy Managing Director for Savills Vietnam, explains the area’s current situation. “To be honest,” he admitted, “I think that District 9 is starting to run out of these large available parcels of land.”

District 9

If you look at a map of Ho Chi Minh City, you’ll notice something striking: the districts in the centre of the map, like Districts 1, 3 and 4, are smaller than the outlying districts, like Districts 9, 12 and Binh Tan.

This development is normal, and follows established historical patterns seen in other cities, like Paris and London. When transportation was limited, districts needed to be smaller. Now that we have motorbikes, cars and a metro on the way, larger spaces can be carved onto the map; and it’s these larger spaces that are catching the eye of developers and real estate consultants not only across the country, but also across the world.

Expansion Plans

Griffiths shares his view on this development strategy. “It’s the pattern of the city’s development,” he said. “There are nodes with density that have grown and then become filled and occupied so that developers are now having to look for cheaper land. And this pushes them further and further away from those established nodes.”

District 9 apartment

And who’s taking advantage of it? “Everyone,” Griffith asserted. “You’ve got the local developers and then you’ve got your internationals, your Keppels and your CapitaLands.”

Land Grab

The parcels of land might be sold with ease, but that doesn’t mean that District 9 will be the new District 1 in a year’s time. The Vinh Tran, an employee at the Ministry of Construction, recently reported that although the government has a large stock of land in District 9, that is the way it will stay in the foreseeable future.

Rather than developing the stock, the city municipal department, along with other companies who have invested in District 9’s land plots, prefers to bide its time for the moment, focusing on other projects closer into the city. One big reason for this seems to be transportational issues. The construction of the metro is a big topic in Ho Chi Minh City at the moment, and even now, years before the metro will be finished, it’s affecting real estate prices.

As VietnamNet reported, 37 percent of apartment units for sale are along the Metro Line No.1, which connects Ben Thanh Market to Suoi Tien Park in District 9. When you add the metro to the recently completed Ho Chi Minh City-Long Thanh-Dau Giay highway system, a 55-kilometre-long road that connects District 9 to District 2 and Dong Nai, it’s clear that developers see big plans for this district.

District 9 industrial zoneImage source: zing.vn

District 9’s Top New Projects

Condos

Name: Sun Tower; Developer: N.H.O. Khang Viet; Year of Completion: 2018; Units: 379; Price: US$650 per square metre.

Name: Him Lam Phu An; Developer: Him Lam Land; Year of Completion: 2017; Units: 1,092; Price: US$900 per square metre.

Villas and Townhouses

Name: Lucasta; Developer: Khang Dien; Year of Completion: 2019; Units: 140; Price: US$800 per square metre.

 


The Foreign Investor Guide to Real Estate in HCMC

By: Eric Le Dreau

Are you a foreign investor and want to know about real estate laws in HCMC? Confused by the new Property Law? Indochina Legal clears up the confusion:

One of the most notable changes introduced by Vietnam’s new 2014 property law and its regulations is the revision of the right for overseas Vietnamese, foreign individuals and organisations to own residential houses, as follows:

Overseas Vietnamese (or Viet Kieus) can now own residential houses in the same way as Vietnamese citizens without further residency requirements or any limitations on the type or quantity of houses, or the terms of ownership. They must hold a valid passport with an entry verification stamp marked by the Vietnamese Immigration Department (VID) and a document evidencing their Vietnamese origin.

Foreign individuals have the right to own residential houses, subject to certain restrictions as compared to Vietnamese citizens and Viet Kieus. In order to own houses, a foreigner is required to have a valid passport with an entry verification stamp marked by the VID and cannot fall under diplomatic or consulate preferences and immunities. Requirements of residency, investment in Vietnam, work permit, social contribution and/or marriage to a local Vietnamese is not necessary for residential housing ownership. However, as to ownership duration, foreigners married to Vietnamese citizens or to Viet Kieus are entitled to an indefinite term, whereas foreigners who are not can only own residential housing for a period of 50 years. This can be extended for another 50 years, subject to approval by the provincial People’s Committee where the house is located. Unlike other foreigners, those who are married to Vietnamese citizens are also exempt from notifying the housing administration authority at the district level prior to leasing their houses to others. Apart from that, the new legal framework grants foreigners the same rights of Vietnamese in the cases of subleases, mortgages, etc. of residential housing.

real estate in hcmc

Photo by: Manh Hai

Foreign organisations are allowed to own houses provided that (i) ownership term shall not exceed the period stated in their investment certificates issued by Vietnamese competent authorities, including any extensions; (ii) use of the houses is for residential purposes only, for their personnel; and (iii) lease-out of the houses is not permitted.

It is worth noting that foreign organisations and individuals shall not collectively own more than 30% of the total number of apartments in an apartment building or not more than 250 separate houses in an area where population is equivalent to that of a ward. In addition, house ownership beyond real estate projects (e.g. a villa built by individuals) is not allowed. For national defense and public security purposes, foreign individuals and organisations cannot own houses in certain areas. With respect to these limitations, the local Department of Construction will publish on their official website the projects where foreigners cannot own houses, detailed numbers of apartments or separate houses eligible for foreign ownership, and the number of houses where foreign ownership has been recorded. To our understanding, the database is not yet completely developed for all cities and provinces in Vietnam. Meanwhile, payment for purchase or lease of residential houses shall be made via credit institutions operated in Vietnam. So far there has been no specific instruction on foreign exchange control for relevant inbound and outbound foreign funding of residential housing.

Despite certain remaining limitations, the NHL has provided a more open approach to ownership of residential housing for foreigners. The hope is that these changes will ultimately defreeze the real estate market and create a new wave of foreign investment in Vietnam.

Website: www.indochinalegal.com


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.

 


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