Phú Mỹ Hưng properties prices

[buggy08]

Disclaimer: I'm not sure if this thread violates any of the forum rules, but I do not make this thread for any personal gains whatsoever. This thread is purely for information and discussions. Also the prices are only as up to date as my personal knowledge as of 20/01/08. Phú Mỹ Hưng (PMH) prices are rising by the days, and in some case, by the hours. Pictures are taken from post "Phu My Hung projects, new lifestyle in Saigon" started by blue_milkyway88. 1 USD = 16.000 VND for conversion purposes.

Here are the most up to date prices for some of the properties in PMH

Sky Gardens
http://i195.photobucket.com/albums/z...76b9b207_b.jpg
2.9 to 3.5 bil VND (around 181.000 to 218.000 USD) per apartment. The prices are based on each apartment's square areas, views, heights, etc... Note that Sky Gardens buildings are considered where the "low" to "middle-class" in PMH lives. The rent is around 650-850 USD/month. Also, 80% of Sky Gardens' tenants are Koreans (renting).

Cảnh Viên (2 buildings with blue-ish roof)
http://i129.photobucket.com/albums/p...g?t=1166971746
From 6.8 to 9.5 bil VND (425.000 to 590.000 USD). I'm not sure about rent price, but I guess around 1000 to 1200 USD/month.

Grandview
http://i101.photobucket.com/albums/m...u/DSC03305.jpg
9 to 11 bil VND (around 560.000 to 690.000 USD) per apartment. Rent is starting from 1700 USD/month. You can have a river view from this apartment.

The Panorama
http://img525.imageshack.us/img525/5...ture030xa6.jpg
Still under construction at the time of posting and already priced for around 10 bil VND (625.000 USD). These are said to be the best apartment buildings in PMH.

Villas
http://tk.files.storage.msn.com/x1pA...gGsPwSCfHhVmI2
In the above pic, I think they are Mỹ Kim villas. Villas in PMH are priced around 16 to 40 bil VND (1 to 2.5 mil USD). All the villas are mostly built by PMH. Newly built villas are always better and priced higher then old ones.

Phú Gia
http://img224.imageshack.us/img224/9955/nsg2gf2.jpg
Phú Gia is a stand alone complex, walled up from the rest of PMH. This whole area is under constant camera and guards surveillance, 24/24. People who live here value their family and love ones' safety more then anything else. The outer villas are cheaper then the inner ones. I don't know much about the prices in this area, but one of the inner villas is on sale for 5 mil USD.

Hưng Gia, Hưng Phước
Hưng Gia and Hưng Phước blocks of land. People can buy these block of lands and build whatever they want (although the building here are limited in height, and of course, in area of land purchased). The average area for each block is around 110 square meters. The price for each block of land ranges from 700.000 to 1.8 mil USD. Blocks face small streets are cheaper. Blocks at the corner (face 2 streets) are the most expensive ones.

[sqd]

Rich people sure know how to spend their money. If I had 600,000 USD, I would never want cram myself into an apartment/condos like these people do, but I would buy myself a big single multi-story family home instead.

[Saigoneseguy]

Most ppl buy these condos as investments, not like they gonna live there anyway...but 15 tỉ VND for a condo in the Panorama is ridiculous, and enough to say everything about this properties craze right now in VN.

[yippie]

Originally Posted by buggy08

Disclaimer: I'm not sure if this thread violates any of the forum rules, but I do not make this thread for any personal gains whatsoever. This thread is purely for information and discussions. Also the prices are only as up to date as my personal knowledge as of 20/01/08. Phú Mỹ Hưng (PMH) prices are rising by the days, and in some case, by the hours. Pictures are taken from post "Phu My Hung projects, new lifestyle in Saigon" started by blue_milkyway88. 1 USD = 16.000 VND for conversion purposes.

Here are the most up to date prices for some of the properties in PMH

Sky Gardens
http://i195.photobucket.com/albums/z...76b9b207_b.jpg
2.9 to 3.5 bil VND (around 181.000 to 218.000 USD) per apartment. The prices are based on each apartment's square areas, views, heights, etc... Note that Sky Gardens buildings are considered where the "low" to "middle-class" in PMH lives. The rent is around 650-850 USD/month. Also, 80% of Sky Gardens' tenants are Koreans (renting).

Cảnh Viên (2 buildings with blue-ish roof)
http://i129.photobucket.com/albums/p...g?t=1166971746
From 6.8 to 9.5 bil VND (425.000 to 590.000 USD). I'm not sure about rent price, but I guess around 1000 to 1200 USD/month.

Grandview
http://i101.photobucket.com/albums/m...u/DSC03305.jpg
9 to 11 bil VND (around 560.000 to 690.000 USD) per apartment. Rent is starting from 1700 USD/month. You can have a river view from this apartment.

The Panorama
http://img525.imageshack.us/img525/5...ture030xa6.jpg
Still under construction at the time of posting and already priced for around 10 bil VND (625.000 USD). These are said to be the best apartment buildings in PMH.

Villas
http://tk.files.storage.msn.com/x1pA...gGsPwSCfHhVmI2
In the above pic, I think they are Mỹ Kim villas. Villas in PMH are priced around 16 to 40 bil VND (1 to 2.5 mil USD). All the villas are mostly built by PMH. Newly built villas are always better and priced higher then old ones.

Phú Gia
http://img224.imageshack.us/img224/9955/nsg2gf2.jpg
Phú Gia is a stand alone complex, walled up from the rest of PMH. This whole area is under constant camera and guards surveillance, 24/24. People who live here value their family and love ones' safety more then anything else. The outer villas are cheaper then the inner ones. I don't know much about the prices in this area, but one of the inner villas is on sale for 5 mil USD.

Hưng Gia, Hưng Phước
Hưng Gia and Hưng Phước blocks of land. People can buy these block of lands and build whatever they want (although the building here are limited in height, and of course, in area of land purchased). The average area for each block is around 110 square meters. The price for each block of land ranges from 700.000 to 1.8 mil USD. Blocks face small streets are cheaper. Blocks at the corner (face 2 streets) are the most expensive ones.

5 million? are you sure? that is ludacris. so damn expensive for a villa. with 5 million usd you could buy a super nice pent house in uptown new york city or a decent sized mansion with acres of land in malibu or almost anywhere in the states. i would NEVER spend 5 million on some stupid villa jammed between other almost identical looking villas in some "developing" city like Saigon...by the way, who the hell is going to afford these villas and who the hell would be stupid enough to buy one... for 5 million usd?

[starboy]

I've got a nice and cozy one bedroom condo in Houston, US for just $40,000 ....those prices are crazily insane !!!! ....

...really, who'd want to use that much of money for a villa which even doesn't have private swimming pool in it ?

[Saigoneseguy]

Hey buggy08 oi, are you affirmative about price of condo in Canh Vien and Sky Garden? Are those current prices?

Thank you!

[vn1975victory]

Lets take Canh Vien above for comparison: the unit price is around $500K, and they are renting for around $1200 a month.

With 500K, I have several options:
- Put into a savings account: the current interest rate on VND savings accounts is around 10% / year, that means I can have 750+ million VND per year out of this money. You can say that the inflation is more than 10%, but the VND is locked to the USD, so basically you get 50K USD every year with this money. That means $4000+ a month.

- Stock market: you can buy several stocks in the VN stock market with PE (price / earning) ratio around 15. That means if I have 7.5 bil it brings me 500million a year (am I right?). That is around 40 million, or $2700 a month. Not to mention growth: many companies have earning growth of 30 - 50% a year in the next few years. That means next year you can have 600 million, the year after that 700 million, etc.

- Invest in education for my (good) child: I only need 150K. He/she will later earn $2000 or more a month for the rest of his/her life :-) (assuming he/she is a good boy/girl, not like some of you here :-))

[skidlin]

...

[Saigoneseguy]

vn1975, I think you were confused a bit about the P/E part, which itself describes the "price tag" of a certain stock, P/E is Price over Earning (of the company, not you) per stock, if P/E is high, it means the stock is overpriced and vice versa. And dividend rate does not only depend on P/E, and main reason for ppl to buy stock is that they hope the price will go higher, so in such market like Vietnam's, dividend pay out is not the cake that ppl would go long for.

I have to tell you that put your money into saving account in Vietnam actually does not bring you any profit at all, and why 10%/year if you can invest in stock/real estate with 200-300% yielding rate?

[vn1975victory]

Originally Posted by SaiGoNeseKiD

vn1975, I think you were confused a bit about the P/E part, which itself describes the "price tag" of a certain stock, P/E is Price over Earning (of the company, not you) per stock, if P/E is high, it means the stock is overpriced and vice versa. And dividend rate does not only depend on P/E, and main reason for ppl to buy stock is that they hope the price will go higher, so in such market like Vietnam's, dividend pay out is not the cake that ppl would go long for.

I have to tell you that put your money into saving account in Vietnam actually does not bring you any profit at all, and why 10%/year if you can invest in stock/real estate with 200-300% yielding rate?

PE ratio = Price Per Share / Earnings Per Share
"The price per share (numerator) is the market price of a single share of the stock. The earnings per share (denominator) is the net income of the company for the most recent 12 month period, divided by number of shares outstanding"
http://en.wikipedia.org/wiki/PE_ratio

If you buy a share for 150000 VND, and the PE ratio at that time is 15, that means in a year you'll get 10000 VND for that share.

Back to real estate prices in VN: it will be in 1 or 2 ways:
- Reduce significantly (ie. real estate market crash)
- Freeze for at long time
In either case, those who buy at the prices above will lose a lot of money or lose the opportunity to make a lot of money (by not investing in other methods).

BTW, tell me how I can earn 200 - 300% per year. I will give you half of my earnings :-)
THERE'S NO EASY MONEY.

[Saigoneseguy]

Seems like you don't get it. If share price is 150000 VND, P/E is 15, it means EPS is 10000 VND -> for every single share, the company will make income of 10000, you buy 15 dongs for every single dong the company earns.

It makes no sense of calculating how much you'll earn from stock from a year, unless you're talking about earning yield of bonds (because stock has high liquidity and should be purchased/sold regularly to earn profit from chaging in real market prices). That way, a bond with P/E of 15 will have earning ratio of 6,67%. Of course, the earning rate of any bonds is decided by the issuer and could be higher/less than the calculated percemtage above.

Ah, and how about rising in price of houses in PMH from 5bil-10bil in 3 months as we all witnessed, if they sell their house...talking about easy money. That's why i said the whole thing is crazy.

[bmbmb]

Originally Posted by SaiGoNeseKiD

That's why i said the whole thing is crazy.

Yes , they are crazy because they are rich .

For those who do not live in PMH , the price of real estate is so crazy but for those who live in PMH , they know the price is not crazy .

PMH is the best place to live in Vietnam now , the best place for the best people . The price is so high but it will continue to go up .

[Saigoneseguy]

How much do you think it will continue to go up? If similar projects like Phu Gia will be built near PMH, will it cease to rocket?

[vn1975victory]

A little clarification here:
The "earnings" part in PE ratio is the company's earnings, not the dividen (which is a small portion of the that earnings that is given back to the shareholder). An earnings per share (EPS) may be 10000VND but a divident is normally much less (eg. 2000VND).

However, the company's earnings can be considered a shareholder's earnings, because a company's shareholder is essentially a company co-owner. It's just that the owner can't take that money out whenever he wants, because the company (ie. all the owners) agree to keep that money to run and expand the business. The earnings is real money, and it makes the company's asset value increase. That means the value of the shareholder's ownership increases.

Bottom line: even though the earning per share of 10K VND does not mean a share price will increase 10K, from 150K to 160K, but it is real earning lying in the company's asset (and you have a piece of that asset too), and it is an important factor that affect the future share price. Other factors are potential growth, how good the management is, what is the market share of the company, psychological factors, etc.

Some companies like Google has earnings per share ratio of 60 - 70. That means you need to spend 60 USD to have an earning of 1 USD per year. That is because of the "other" reasons that I said above.

Originally Posted by SaiGoNeseKiD

Seems like you don't get it. If share price is 150000 VND, P/E is 15, it means EPS is 10000 VND -> for every single share, the company will make income of 10000, you buy 15 dongs for every single dong the company earns.

It makes no sense of calculating how much you'll earn from stock from a year, unless you're talking about earning yield of bonds (because stock has high liquidity and should be purchased/sold regularly to earn profit from chaging in real market prices). That way, a bond with P/E of 15 will have earning ratio of 6,67%. Of course, the earning rate of any bonds is decided by the issuer and could be higher/less than the calculated percemtage above.

Ah, and how about rising in price of houses in PMH from 5bil-10bil in 3 months as we all witnessed, if they sell their house...talking about easy money. That's why i said the whole thing is crazy.

[Saigoneseguy]

The "earnings" part in PE ratio is the company's earnings, not the dividen (which is a small portion of the that earnings that is given back to the shareholder). An earnings per share (EPS) may be 10000VND but a divident is normally much less (eg. 2000VND).

However, the company's earnings can be considered a shareholder's earnings, because a company's shareholder is essentially a company co-owner. It's just that the owner can't take that money out whenever he wants, because the company (ie. all the owners) agree to keep that money to run and expand the business. The earnings is real money, and it makes the company's asset value increase. That means the value of the shareholder's ownership increases.

Erm, that's what I said, but calculating shares' value based on P/E ratio alone could be a big fallacy for emerging markets (such as Vietnam's). Other factors such as market situation and potential growth are more important. There are more reliable valuation models available...Hence P/E ratio should only be used as a competitive tool helping investor to decide buying at what price. rather than a method to forecast your future profits.

And even value of ownerships increases (more earning, p/e decreases), percentage of ownership is rather small and will gradually be decreasing as we see in real market condition in Vietnam. Of course, investors are co-owners but we own nothing but our money, so just ignore it unless you're a big investor.

[bmbmb]

Originally Posted by SaiGoNeseKiD

How much do you think it will continue to go up? If similar projects like Phu Gia will be built near PMH, will it cease to rocket?

The sales of Phu My Hung company said that the PMH company will make the real estate in PMH equal to district 1 . In my opinion , real estate in PMH will equal to Singapore .

If similar projects like Phu Gia will be built near PMH, will it cease to rocket?

I think no , because PMH now is a brand , owning a house in PMH means that you are rich , so everyone wants to have a house in PMH .

[kuntakinte]

PMH is still a long way to be equal to Singapore. Most of Singapore's Housing Development Board(HDB) flats look better than Sky Garden apartments. HDB flats are govt.-subsidized housings. The real estate prices in Vietnam is not real; all hyped up by real estate brokers and developers. It's like the musical chair game; the higher it gets, the higher the risk. Don't be the last one to buy.

US real estate already collapsed. China just starts to bungee jump....
Vietnam? I predict Vietnam real estate will crash from early 2009 when
Viet govt. start to tax property gain and curb on housing loans. Meanwhile,
makes hay while the sun shines.

[Saigoneseguy]

The "look better" factor doesn't really count, the better location and community is key.
bmbmb is right, PMH is becoming an elite's enclave for well-off ppl in town.

The psychology is this: if u've made a bunch of dollars, one thing you wanna do is buying a pmh house, far away from the unbearable noisy, and incredibly crowded city, by moving out to where you're surrounded by ppl having the same income, same "class" in the society.

This is nothing new though, pmh just happens to be a monopoly at the moment.

[kuntakinte]

Originally Posted by SaiGoNeseKiD

The "look better" factor doesn't really count, the better location and community is key.
bmbmb is right, PMH is becoming an elite's enclave for well-off ppl in town.

The psychology is this: if u've made a bunch of dollars, one thing you wanna do is buying a pmh house, far away from the unbearable noisy, and incredibly crowded city, by moving out to where you're surrounded by ppl having the same income, same "class" in the society.

This is nothing new though, pmh just happens to be a monopoly at the moment.

Yes, if you compare PMH to D8, PMH looks like "Heaven on Earth". But if you
compare to those cao cap(high-class) enclave in Singapore, PMH is miles away. And if you tell a Singaporean that those apartments in the surrounding
PMH area are cao cap(high-class), he/she will laugh at you. Basically there's ZERO cao cap(high-class) apartment in Vietnam even though most claimed to be cao cap.

As for PMH, it's all a mind game - the rich like to congregate together, and the not-so-rich(some pretend to be rich) also like to live near to the rich.

[skidlin]

n/a