VINestate – Best Real Estate Agency Vietnam
Real estate agencies play a vital role in helping people buy and sell property, especially in Vietnam. With a market full of potential, more foreigners are looking to acquire real estate in Hanoi and Ho Chi Minh City as well as popular coastal cities such as Phu Quoc, Phan Tien, Nha Trang and Danang.
However, for a non-Vietnamese buyer, acquiring real estate in the country can be tricky despite the government relaxing the rules on foreign ownership in 2015. There are a number of rules and regulations that must be considered and this is where the services of a real estate agency can be of use.
Built from the ground up, VINestate has set itself apart by serving as a one-stop shop for real estate services in Vietnam. It confidently handles brokerage services, property management and investment consulting and clients speak highly of VINestate’s skill and expertise. Customers from around the globe trust the firm to deliver the best service possible. VINestate is a deserving winner of Best Real Estate Agency Vietnam at The Dot Property Vietnam Awards 2017.
VINestate Co-founder Oleg Morozov shares his thoughts on the market in Vietnam as well as what sets the company apart from the competition.
VINestate says it is a one-stop real estate shop? How is this possible? What do you do differently from other agencies?
Usually local agencies tend to work with a list of developers they have a contract with. We work with all biggest developers in the most important regions of Vietnam
Also, we are the only agency in Vietnam that created to work with foreigners – we know the real procedures and we know how the market works.
Why has there been such an increase in foreign investment in Vietnam’s real estate market during the past few years? Does this trend look set to continue?
Besides other factors, such as the emerging nature of the market, constant economic growth, political and social stability, we assume the main reason for an increase in FDI in the real estate market is the change in residential real estate legislation allowing foreigners to own apartments and villas in Vietnam. Not only have a limited group of properly qualified foreigners been permitted to buy real estate, but now every single foreigner who has permission to enter and stay in Vietnam can do so as well. In addition to that, the owner of such a property is allowed to use it as a source of income and can use it as collateral with credit institutions.
Considering the intention of the government to continue liberalisation of the legislation in regards to foreign ownership, we presume this trend will continue through the mid-term at a minimum.
What are some important facts foreign investors should know about Vietnam’s real estate market?
First of all, we would note that the Vietnamese real estate market is still emerging and that makes it very attractive to private buyers and big investors as well. The local buyers, however, have become very selective and educated. It is getting harder and harder to gain their attention and persuade them to buy. When entering this market, a developer or investor has to be very smart, very sharp and consider that every single detail of the development does matter. Smart design, green solutions, cost efficiency, amenities and facilities are important and so is marketing. You need to pay attention to all of these areas in order to create a successful project.
What are some of the key markets in Vietnam? What cities/regions does VINestate focus on?
Nha Trang is the most popular coastal destination and a popular area. We also focus on Ho Chi Minh City as the market here is booming and will continue to grow. We also provide services in Hanoi and several other key coastal destinations.
What does it mean for VINestate to win Best Real Estate Agency Vietnam 2017? What should people expect from your company in the future?
Since we are quite a young company and the competition during the last few years was tough, it is an honour to receive this recognition. Creating a new company outside your native country from a scratch is a very hard thing to do, especially if you don’t have a big brand behind you. We respectfully accept this award as an appreciation of our hard work and contribution to the development of the real estate market in Vietnam. We are confident that this award will inspire our company to develop further and we shall continue to provide our customers the most outstanding service.
