Hi guys!
As part of a business trip I stayed in Dalat 3 days and collected many information 
One of them is very attracting advertisement on forums and other sources posted by both landlords (or tenants?) and agents. "Apartment for sale - 250 M VND" Then I too curious and interested (greedy) then meet that agent who's office is in Dalat market building.
The facts revealed by agent:
1. Apartment - Yersin apartments which built by government and passed to the dependents of various service staffs who served for the country (such as military) as a small rent basis until they get user certificate. (He cannot say exactly when government issue the user certificate and they can own the apartment. According to him they should pay a small amount (1-2 M VND, like rent) which the authority will deduct at the time of complete transfer of apartment. Interesting thing is they can transfer the apartment now.
2. Present landlord (or tenant?) want to sell (rent?) that apartment for 250M VND which the authority will not calculate in future and deduct! Just think it as a token
3. After this transfer you can live there like the landlord (tenant) but should pay the same 'monthly payment' until the authority announce the total price ( no idea how much they will ask) for that apartment. After that they will deduct this monthly payment from total amount and give you the user certificate. If you don't want to buy then you can continue as before by paying the monthly amount!
4. Apartment is located in Yersin (just after the "Yersin Teacher Training College") and has 6 blocks with less than 10 floors. Apartment is new. Location very nice. Just 10-15 minutes drive to Dalat Central Market by motorbike
It's a good choice for people who cannot pay a big amount together. Seems like a down payment system but problem is, nobody know how long it take to announce the total price of the apartment!
I invite all members, especially, Dalat locals and expats to discuss about this issue and give valuable information!
Anyone can get information about this apartment or government procedure about these kind of apartments please post here! Thanks a lot!
250 Million Apartment in Dalat
Hi,
I think the real estate is cheap there. A land-4*15- just costs 50m.
Hi Charmavietnam
Thanks for the news about the Dalat apartments for sale. If you have any information on who to contact on this, it would be greatly appreciated.
Thanks in advance
Lookingabroad
I just posted some information which I collected. We need more to confirm
Da Lat is a very attractive destination in which to invest. Many of the hotels are actually owned by wives of Cong An - as a way to avoid rules governing 'conflict of interest'.
The national government introduced new rules for sales of government owned property recently following the Hai Phong shooting 'war' over land that the People's Committee sought to recover. The Prime Minister personally intervened and the countries Supreme Court found against the People's Committee and FOR the User Certificate holder.
Another big land dispute is currently festering in Da Nang where the Peoples Committee chair was involved in 'recovering' land occupied by 'sea farmers' (crabbers, etc.) so new, luxury, hotels and resorts could be built. Unfortunately for the Chair the sea farmers get noisy and their cries for help were heard in Ha Noi (Da Nang is a city with provincial powers). Again violence ensued and the Internal Police are investigating everyone, including the Cong An.
Nha Trang had the case of the USD$10-million bribe case paid to an official for help in transferring User Certificates.
My advice, as a long term investor in VietNam, through my wife, avoid 'desirable' properties. In the Da Lat case the deals are most likely done and the players are simply going through the motions required of the new laws and regulations so if Ha Noi gets curious, they can prove sales were done 'by the book'. The problem is whose 'book'.
Cam Ranh Bay is another 'hot spot' and only by buying 'distraction' properties was my wife able to buy what we wanted - a run down site on which we built a hotel. Her family lived in the area so she had 'inside' knowledge, something Foreigners rarely have.
Dejavu.dot wrote:Hi,
I think the real estate is cheap there. A land-4*15- just costs 50m.
Da Lat is a HOT property market, has been for years. The reason is TOURISM.
If you are looking for 'cheap' real estate, check out Son La, Dien Bien Phu or Lai Chau Provinces.
Don't think Vietnamese are 'poor' - there are plenty of people with assets to their names. A row 'house', on a road running parallel to Tran Hung Dao, in Quan 1 which is about 10 metres wide and internally the roof is 10 metres high and 30 metres deep, with a 'platform' built as a second floor goes for USD$70-80,000. And the location is really, really, bad.
The old (Western) real estate maxim: "Location, location, location" doesn't apply here. And don't forget, restrictions apply to Foreigners owning property.
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