25-Year-Old Engineer In Vietnam Strategises Ways To Save Up For Her Own Home | Money Mind | Property 

This lady is very wise and hardworking . She chooses to take the hard route and is still hopeful despite all odd stacked against her. I wish her sucess .

I lived in Vietnam for 3 years - this situation happens because a) the tax system is broken with most people evading taxes so the government isnt funded b) there is very little capital available for a variety of reasons c) the banking system isn't very viable because of a lack of capital d) there is significant risk of making capital available because of corruption or because of cultural lack of accountability e) because of the risk and lack of capital - interest rates are very high. Basically, vietnam is still a hand to hand cash economy. A lack of foreign investment due to the risks of corruption or because of the underlying communist political system is a contributing factor also.

Thank you CNA for mentioning this HUGE problem. Young Vietnamese would NEVER be able to buy a home, even if you're bad at math, you can obviously see that $500 saving per month ($6000 per year) is far from enough to buy even a condo in Saigon which ranges around $100,000, so you basically need 16 years worth of saving to buy a condo, not mentioning the interest and ever increasing price. And not to mention the average annual income in Vietnam is less than $4000 a year, the girl in the video has above average income. You may think that people should buy home far away from the city, but for a city with over 10 mil people, Saigon surprisingly has no mass transit and highway network to connect with other places. And imagine spending hours commuting in the harsh sun and rain by scooter everyday (don't mention car because that's also unaffordable).

I feel so bad for this bright girl. I have been living in the Netherlands for 8 years now, the last 3 of which I've spent in a cramped studio with a low ceiling. Studies have shown that a cramped space, especially where the ceiling is low, can severely affect an individual's mental health. With all other housing options being extremely unaffordable, I have opted to move back to my home country in a few months instead. Best of luck to her!

I have a super easy job, no specific talents and make 10 times her salary, that is crazy. the world is unfair and ive been very fortunate

With her strong dedication she will be successful

That is the reason why I don't wanna work in Vietnam. The salary always stays same while the rent usually increase dramatically. I think the best choice is to work in abroad

Good luck to these young people. It’s sad to see these youngsters wanting a normal life which is unaffordable. I think the girl is more focused but her brother seems to be so disappointed with everything that has just given up. May these people find the happiness they are looking for.

As you can see , these houses are not only expensive but also very dangerous , they located in some small alleys which firefighters have difficulty reaching them , so when the fire comes , there will be no chance to survive for people who live in there

Her strong determination is inspiring and admirable ... wishing her the best 🙂

I'm Native Khmer in VN and I live in this Prey Nokor Sài Gòn city, I spend like 2m vnd per month for a bunk bed in a co-living dorm, to rent a private room in boarding house, you will need around 3-5m per months but don't expect a convenient one. The room in this video is quite okay for 4,2m, surprisingly lol. However, since we are local here, so we get used to with this and still have a good life, as long as the job thrives. Sok sabay và cố lên nào hai anh em nhé!

Believe it or not, but this is middle class in Vietnam. A lot of people in their 20s have it way worse. Often sleeping 4 to a room with no hope of buying a place.

I am Vietnamese, but I am very disappointed that I am a Vietnamese, the life of a young Vietnamese person is very hopeless, you work all your life just to buy 1/3 of the house and land and Use your next generation to buy the remaining 2/3

I'm a foreigner living in HCMC married to a Vietnamese woman and although our salaries put us in literally the top few percent of earners in the country, buying a house here just feels like a dream. And although we probably could if we really buckled down, is it worth it when the quality of construction is so low and space is so limited? For us, not in the near future at least. We pay $700 / month to rent a 120 sqm apartment in the inner city, that's a much better deal.

Median home price = 32.5 times of household income 🤯. Seriously that should be illegal anywhere!

The housing price 📈 every year The salary stays the same. Still low as hell

Giá nhà trọ tại Việt Nam đang tăng cực kỳ nhanh, và điều này anh hưởng lớn tới những người trẻ, những thế hệ trẻ, quá khả năng để cho một sinh viên có thể thuê một phòng trọ độc lập, thường sẽ có từ 2,3 tới 4 sinh viên thuê trọ cùng nhau. Đồng thời cũng là áp lực tới thế hệ trẻ cho việc sở hữu nhà ở.

Wishing you all the best in life. You will make it with your will power. God Bless and stay safe.. Cheers..

This is why I always try to help out the people in need every time when I go back

House price in Vietnam has been exagerated over the last 2 decades by real estate enterprises. Looking at the list of wealthiest people in Vietnam, more than half of them have a bussiness in buying and selling apartment or houses. Only when we can control the involvement of those companies that houses will be more affordable.

Let's talk about me. When I was in college: -Tuition is 20-22m VND per semester (~~ 1k USD) -Food 100k VND per day ( ~~ 4.5 USD ), 3m per mon ~135USD -House 2m VND per month (~ 90USD), area 8m^2 - My part-time job + 3-4 m VND per month (180 USD). I spent 4- 5 days per week and 5 - 10 hours to work And the funny thing is that the money I earn is not enough to cover my personal expenses, when I got COVID-19 I didn't get any subsidy from the government or my workplace... So I am off from school and working freelance at home, I love this life... (VN 22year old)

House Pricing has gone wild, so I focus on other things instead of owning a house, like trying to help orphanages / disabled kids or sick people who can't afford medical bills, which makes me happy.

I always feel motivate when I see video like this. Good luck to you.

What's crazy is that the rent isnt actually that high (still high compared to median income) how can the rent be so disconnected from the buying price? Surely that's a bubble?

As a Vietnamese, I'm studying Automation and Engineering. It costs me around 150 million VND a year or 5925 USD a year (TDT University) and they focus on Marxism-Leninism (which I failed all of the classes). It seems not much compared to US schools but the thing is the median income per year is 2000 so it is around 3 times and that is absolute insanity Not only that the policies tax and many kinds of stuff that would get me banned even if it's the Truth. And if I graduate I gonna earn around 5 million VND or less than 200 USD per month salary are you kidding me? so the best strategy is nothing else but to get the f*k out of that place

property as investment is the root cause... house price dictate by the how big is the riches invest in properties

With current house price of vietnam... sorry but dream does not usually come true

This seems like a world-wide problem. Younger people are priced out of the market by investors and ever increasing inflation.

I did not realise that Vietnam was so expensive for the average worker. Most millennials (and older!) around the world are also facing the same issues with affordable housing; forget trying to buy a house! This woman and her brother are smart to share housing expenses and their flat is pretty nice for the price.

your determination inspires me, thank you young lady

She seems lovely. That renting apartment looks nice and clean too.

this is the cleanest house with this type of housing materials I have ever seen, would absolutely not mind to live in here

Best strategy is to work for high paying industries like finance and tech. Environmental science masters is not a great choice in my opinion.

Wow! Housing price at 32.5 times the income, and here in the US I thought 5.8 times the income is high. Look to me like space and inventory are two main issues in Saigon (HCMC). Nice to see that she has a plan and good luck to her and her brother.

She's 25 years old and has already got a motorbike Lead (around 50 mil VND). And she lookes smart too, so I don't think her salary is 10 mil / month according to the video or she's got supported from family. She will have her own house in 10 years one way or the other.

Phân lô bán nền muôn đời thịnh!

The root cause is "the Vietnam's government is printing so much money"! You can argue, but it's always true!

Cau Giay HN is as expensive as Tokyo. That how crazy house price in Viet Nam is. BTW, our income tax is as high as some EU countries and our politicians are crazy rich.

I think the home ownership situation for the younger generation is the same in every country. I live in Canada, and a one bedroom 500-600 sqft condo is averaged over $550k, depending on where you live in the GTA. A detached 3bdrm house is $1.4 millions and above. Rent for a one bedroom is $1700-$2300.

This lady works for REE ( from her uniform) the same company as my dad's and the one that manages the building im working in now

I feel for this girl . She is at my age and i am Vietnamese too . the housing market has surged because many people in VN try to buy as much as real estate as possible to speculate for profit . This is not a good way to get rich !!!

Young people like this who can make it despite hardship are what make me hopeful for SEA region.

That apartment is small but it’s so clean and the tiles and paint look new.

Same situations in south east Asia, even Thailand , Malaysia, Indonesia…. Pretty much the same . The price of accommodation is sky rocket in city

Sad...

Nguyet is a little girl with big ambitious, good luck to her. As a fellow Vietnamese, I would do the same as her: study to get higher degree, only that you can get better job with well-paid salary

Hay quá Nguyệt, cố gắng nhe’

All young people want to move to the city where the jobs are, thus raising the property prices. This happens in many other countries as well.

Same problem in Indonesia (and may be in SEA in general). Property price just don’t make sense but the good thing is rent price still affordable. ROI of rental property will be likely more than 15 years , some even 30 years (way beyond normal property ROI of 10 years) I am thankful that I own rent property but if I have to do all over again , I would keep living frugal but invest my money somewhere else and just happily renting (and also less headache with home improvement/maintenance)

Why the house pricing always gone crazy whenever there is inlcline in economic? if that so, it's better have no booming economic but people could afford basic need like food, and houses

Home prices in the US (especially the large metro areas) have also went up *significantly* in the last few years while salary still lags far behind. Ho Chi Minh City is still much worse, but the gap is closing fast!

very depressing picture but no one seems to care. The youth is suffering!

That's a pretty spacious apartment compared here in Manila, Philippines. It's just a matter of time and hopefully they can get a better job or side hustle, investment to fully attain their dream home. Luckily, she has a brother who openly shares his cashflow for their expenses. Cooking or buying from the supermarket and still saving for food consumption might cost you, you still need to cook, wash, prepare it. For me, here in the Philippines, it's much better to just buy a cook food or grab, which is less hassle.

Vietnamese Communist Party officials own a lot of high-value real estate.

In fact, buying a house in HCMC or Hanoi at this time was beyond the means of young people under 30 years old who did not have support from their families. The housing prices in Vietnam are crazy, even in smaller cities-I'm at a loss for words. I was able to afford my first home 10 years ago in HCM, but even though my income has increased 6 times since then, I still dont want to think to buy the next 2nd house.

VietNam is a semi poor country with rich rent and housing price. This is ridiculous

same situation in malaysia...due to currency low and as result export goods become expensive

Saigon is growing extremely fast. People the last 20 years keep coming into the city faster than the city can build housing. Also complicated is that the region Saigon is on isn't suitable for development in every direction. All these people coming in, all the challenges in building up the city, mean that prices are soaring.

This is a psyop. Median annual income to house price ratio in Vietnam is 50x. There's no way a working class person can afford their own house even if they're slaving away their entire life. House owners in Vietnam are purely due to their parents or participate in corruption.

Similar issues in the US. Seems to be a worldwide problem of business buying up housing and raising rent. As she mentioned, there are more affordable areas but people are attracted to the cities.

Imo decent metro infrastructures would solve this problem or, at the very least, widen the residential options for the people, leading to lower housing prices.

I have many Viet Engineer friends who are working in an oil&Gas Field, they have a range of. $1500 to $3000+ monthly salary. This girl should discover and try Oil&Gas job and also Renewable energy.

Housing prices in Hanoi has wildly increased in the past few years too. I could afford my own house, and another for rent, but what about my children, and my grandchildren? I'm sending my children to some of the best schools in Hanoi, but that is no guarantee they'll make enough money to buy a place in the city when they grow up. Will I ever have the peace of mind about their future in this city? Don't tell me to go back to my hometown in the countryside, because Hanoi IS my hometown. My decision? Well, housing prices can go up all they want. I don't care. I'm out. I've been trying hard so that when my kids grow up, we'll be able to immigrate to another country where we can see a clearer (and brighter) future. 1 mil USD on a townhouse? (not sure it's the right word for "nhà liền kề" in Vietnamese) There're better ways to spend that money. Housing prices is only 1 of the issues driving my determination (apart from the Vietnamese education, traffic, environmental pollution, food safety, moral degradation, political situation...). Our life is just too short and precious to spend most of it earning a place to live. Our ambitions should not be brought down to a house. We can live better than that. "Lũ chúng ta ngủ trong giường chiếu hẹp Giấc mơ con đè nát cuộc đời con Hạnh phúc đựng trong một tà áo đẹp Một mái nhà yên rủ bóng xuống tâm hồn."

25m² unit for 2 students in HCM city is actually very high living standard. I have had 4 grand nieces and nephews who come from a village and one of them from a small town share a single kitchen of 12 m² turned to sleeping room for 4 years in HCM city. Their parents are coffee farmers/small electronic device vendors earning above average of vietnamese income who supported them and those 4 also had part time jobs while studying. Rental market for locals is way too overpriced.

Room looks quite beautiful actually. Here in India people are living in conditions worse than jail on western nations

Lovely room!

migrating to greener fields- Australia, New Zealand , Canada

wait for a bowl of pho is around 45k, and their salaries is around 20m? thats sound not bad for me, im not really sure how much di daily expenses there but im from indonesia and lets just say pho is kinda the standart daily meal and here lets just say nasi goreng for the comparison where i usually buy around 15k, my monthly salary is around 6m and im live quite comfortably

Nguyệt rất dễ thương và xinh, Nguyệt có thể lấy chồng giàu có

That is the superiority of the corrupt communist regime that the Vietnamese people are proud of.😂😂😂😂😂

One thing i keeping my mind on this topic. I'm from indonesia and live in the outskirts of Jakarta. Considering a borderline shitty house for more than a third of salary people commonly made a month for 20 years is scary, and looks like this is common in southeast Asia like this vietnamese dear lady here. But at the same time I cannot really get into her in a curious way. At least here the mortgage will stay the same in currency regardless of inflation. My parents bought a 15 years mortgage in 2004 and in those years the inflation evaporates the IDR 200%. So as long someone can have a stable salary to fill it, even the low-end one, a man still can have raise a family and have a house all with his income alone - that's my father. Now I just have to carefully consider - is this will be same for me? Can I rely the world and my local economy can as predicted as my parent's time? With the advancement of tech and information in this day and age, it's worries me the most.

Ánh Nguyệt ơi, về quê anh sinh sống, quê anh có biển, có nắng và gió.

Buying property is not always the best financial decision.

797👍Wow !! Great presentation, GOD BLESS YOU DEAR , HAVE A NICE TIME Amazing dear , very beautiful , wonderful coverage , greetings from HONG KONG @richscenic

5million dong approximately??

tôi đã làm việc ở sài gòn hơn 10 năm ! Mua nhà là thứ tôi không thể nhắm tới với mức thu nhập thấp như tôi nhưng vẫn lạc quan vì cuộc sống nó đã ngấm vào tiềm thức nếu có cơ hội tôi sẽ phát triển thêm để dành một số vốn nhất định để có thể phục vụ cho những dự án bất ngờ có thể đến ! ngày 3 bữa và 2 buổi Cà phê vẫn còn khá hơn không có gì ! ^^ cố lên !

Looks decent actually, but not sure if suitable place to raise kids

If i were to retire in Vietnam with $1000 monthly Can i still live comfortably renting tho and eating out?

Looks like it's so much easier to just build a house with your own hands instead of spending time on saving or office work?

Well most of our Vietnamese students spend our Uni years in rooms like this. I am more lucky cause I have a window lol

7 Year of working in Vietnam I can save 25k$ and 30% help (15k$) from my family, I bought my house, and 3 years later I complete the bank payment (20k$), but my house is now worth 100k

great

Vietnamese be like living in a rented small house and must own an iphone 15 pro max

Cải cách ruộng đất dẹp hết mấy đứa phân lô bán nền

Omg I'm Vietnamese Nhà đẹp mà chật quá

Why cant everyone have a right to just have basic necessities. When like top 5% have more than they will ever need.

if a foreigner work as same salary as vietnamese in Vietnam , you will recognize the big problems.

all the best

the brother seems confidant

I wish that I could marry a dedicated and hardworking person like her.

The women of Vietnam deserve a medal. Very unlikely the brother in the video has a job, she's most likely taking care of him. Very common. Source : marrried VNese woman

Nice fujifilm bro

Sounds like a place that is quite close to where am I now with the housing unaffordability. This is home truly where I know I want to be. LOL. Singapore has the problem lah

công việc mơ ước

Decades ago, you would be God with a bachelor's degree in Engineering. Nowadays is the minimum of minimum. Such a shame.

Never give uppp

Same story everywhere, you will own nothing and you will be happy.

That’s not a bad rent, cheap compared to Manila

This girl will be very successful in the future, she is smart, hard working. When I were at her age, I thought i would take me 10 years to buy a home, but I bought a home 3 years later, and I paid all mortgage within 4 years. So in the next comming years you will earn a lot more than the first 3 years.

You just have to borrow through the nose & wait for inflation to devalue the mortgage.