Lao Pride Forum - Apartments in Vientiane

JSEA Full Member Offline I Love Laos! Posts: 141 Bangkok Gender:	Re: Apartments in Vientiane Reply #15 - 6^th Apr, 2011 at 9:40pm looks like I won't be moving to Laos anytime soon then.
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llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Apartments in Vientiane Reply #16 - 6^th Apr, 2011 at 10:28pm JSEA wrote on 6^th Apr, 2011 at 9:40pm: looks like I won't be moving to Laos anytime soon then. How much a month for apartment in Bangkok? I like small city. Bangkok is a big city with 11 million people. That's also mean more pollution and higher crimes rates.
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Tee Senior Member Offline My Home,My love and my only place to be R.I.P Posts: 328 Sydney, Australia Gender:	Re: Apartments in Vientiane Reply #17 - 6^th Apr, 2011 at 10:47pm Maybe is a opportunity for me to set-up service apartment with a nice restaurant and a 7/11 on the ground floor. Do you know witch area should I look for Admin? or maybe, I should set it up as a time share apartment? Any of you interested?
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llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Apartments in Vientiane Reply #18 - 7^th Apr, 2011 at 1:21am Time share apartment in Laos Tee?
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PEACE

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Re: Apartments in Vientiane
Reply #19 - 7^th Apr, 2011 at 3:10am

Actually I was thinking something that is very similar to your idea. A multi-unit infrastructure with a condo or an apartment on the second floor. First floor would consists of a restaurant in the middle and other smaller units to the left and right can be rented out.

Tee wrote on 6^th Apr, 2011 at 10:47pm:

Maybe is a opportunity for me to set-up service apartment with a nice restaurant and a 7/11 on the ground floor. Do you know witch area should I look for Admin? or maybe, I should set it up as a time share apartment? Any of you interested?

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llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Apartments in Vientiane Reply #20 - 7^th Apr, 2011 at 4:14am Last time read on the news government doesn't allow foreigner to invested in hotel business and fish pond anymore. Because small locals hotel are losing business. And the prices of fish drop.
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Tee

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Re: Apartments in Vientiane
Reply #21 - 7^th Apr, 2011 at 4:37am

Why not? it work some where else! let see.....

Legal identity
unit share can set-up as a company share according to the company law in Laos. Those time share can sell freely according with the market price.

Capital $1.5M

Land value in 1200sqx$250=$300,000
Assume we build 40unitsX$20,000 building cost=$800,000
interior furnish $5,000 X 40Unit=200,000
A judgement cost and other cost(that is including the restaurant and the 7/11 shop on ground floor) $200,000 to pay with
total $1.5m

Dividend and time share selling price

Cost price per unit -40/1.5m=$37,500 per unit( the reason didn't include the 2 shops because is not for sale)

$37,500xprofit 50%=$56250 per unit
$56350/50 weeks=$4,500
(in this case 2 week of the year are for vacancy rate and repaired)

The cost to own the time share are

Each time share $4,500 (one time)
management fee $55 (Annually)
Leasing fee $10%(per item)

Each time share can used the unit for 4 weeks of the year and also if they don't want to use it,the management can lease is out at the market price($200 per week x 4=$800-10% leasing fee=$720

I am sure this will work...maybe someone can help me make it better.You are all welcome to throw in your idea here!

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JSEA

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Re: Apartments in Vientiane
Reply #22 - 7^th Apr, 2011 at 10:02am

Right now I am paying about USD 250 for a serviced apartment. This means it gets cleaned twice a week, sheets changed, etc. It's a 5 minute walk from the skytrain, so I can get anywhere interesting in Bangkok easily.

That being said, it is OVERPRICED. Even in Bangkok, 4000-5000 baht (USD 120-150) will get you a nice regular furnished apartment. So yeah, you have to provide your own sheets and clean it yourself, but that's really not a big deal.

I'm a bit amazed at how expensive apartments are in Vientiane, especially since the pay is so much worse (for locals *and* foreigners). I'm not sure how any foreigner could live there without working for a fancy NGO...or the UN. Well, besides marrying a Lao person and starting a business in their name (or giving up other citizenship for Lao citizenship, and then directly owning everything).

I'm sad now Sad

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PEACE

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Re: Apartments in Vientiane
Reply #23 - 7^th Apr, 2011 at 11:41am

Tee, sounds extremely interesting now. I will get back with you with my estimates. I started crunching numbers about 3 months ago. Are you in Vientiane?

Tee wrote on 7^th Apr, 2011 at 4:37am:

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PEACE God Member Offline Posts: 719 DIN FAR Gender: Age: 52	Re: Apartments in Vientiane Reply #24 - 7^th Apr, 2011 at 11:45am Fair enough - helping the locals keep their jobs. Where did you get this article from? llX wrote on 7^th Apr, 2011 at 4:14am: Last time read on the news government doesn't allow foreigner to invested in hotel business and fish pond anymore. Because small locals hotel are losing business. And the prices of fish drop.
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Tee Senior Member Offline My Home,My love and my only place to be R.I.P Posts: 328 Sydney, Australia Gender:	Re: Apartments in Vientiane Reply #25 - 7^th Apr, 2011 at 1:08pm I can't find in any of the Foreign Investment law mention about that! This is the link to that law http://www.invest.laopdr.org/ and No, I am currently not in Laos! but have plan the first step to move there and seeking land to build my home out side Vientiane.
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Tee Senior Member Offline My Home,My love and my only place to be R.I.P Posts: 328 Sydney, Australia Gender:	Re: Apartments in Vientiane Reply #26 - 7^th Apr, 2011 at 1:23pm This project after finish will need to employ 6 full-time staffs to manage the property and about 10 staffs for the shop and the restaurant,that is job to the local.
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llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Apartments in Vientiane Reply #27 - 7^th Apr, 2011 at 6:32pm
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Old Man

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Re: Apartments in Vientiane
Reply #28 - 7^th Apr, 2011 at 9:30pm

Your best market for customers to buy timeshares in the units would be the very large Hmong communities in the U.S., many of whom visit Laos regularly and would like to have a regular place where they could stay for a month each year or so.

For marketing to those people, you could work through the Hmong organisations in the U.S. They probably have their own newspapers, websites, etc. that you could advertise in.

The new regulations concern guest houses (no new ones to be allowed) not mid-range/high-end hotels and bought properties. Foreign investors are allowed to own land if they invest at least US$500,000.

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llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Apartments in Vientiane Reply #29 - 7^th Apr, 2011 at 10:23pm Thank for the infor Old Man. $500,000 wow they really welcome rich Capitalist investors.
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