Tag Archives: real estate

$US10Mil in Deals, Referrals As Laos’ First Real Estate Expo Results Reviewed

The first-ever Laorealestate.la Expo was a huge success, with over 3000 local and international property investors welcomed to Don Chan Palace on the 1st & 2nd of March, 2019. Over the two days, the event generated over 10 million USD in property sales and finance referrals

Time flies! So do real estate investment, advertising, financing and development opportunities…

That’s clearly a philosophy what many folks ascribe to in Laos as some $US10 million in real estate-related deals and financing agreements were inked at the first Lao Real Estate Expo earlier in this month of March, according to organizers.

Lao Real Estate Expo 2019

Lao Real Estate Expo 2019

The promise of prosperity aplenty attracted all comers in March 2019 as Laorealestate.la, and the Lao National Chamber of Commerce and Industry (LNCCI) teamed up with Laos’ leading online marketplace, www.yula.la for the expo.

RDK Group, publisher of The Laotian Times, Champa Meuanglao and Laopost and contributor Laos Briefly joined to capture the excitement.

Champa MeuangLao Magazine, sister publication of the Laotian Times under publisher RDK Group at Laorealestate.la Expo

Champa MeuangLao Magazine, sister publication of the Laotian Times under publisher RDK Group at Laorealestate.la Expo

First Ever Lao Real Estate Expo 2019 by LNCCI & laorealestate.la Laos Briefly with Champa Meuang Lao, Laotian TImes & Lao Post.

Posted by Laos Briefly on ວັນສຸກ ທີ 1 ມີນາ 2019

Savvy clients & suppliers and B2B’s were out in force, hunting for trade and investment opportunities alike.

Now, footage and imagery from the expo have gone online. Take a look and see if you can spot you and yours (and any other promising opportunities!)

 

ພາບບັນຍາກາດພາຍໃນງານມະຫະກຳອະສັງຫາລິມະສັບ 2019 ຄັ້ງທຳອິດໃນລາວເຮົາ ໃນ ວັນທີ 1 – 2 ມີນາ ທາງທີມງານຂໍສະແດງຄວາມຮູ້ບຸນຄຸນທີ່ໃຫ້ຄວາມສົນໃຈໃນງານເຮົາຢ່າງຫຼົ້ນຫລາມ ຈົນເຮັດໃຫ້ງານເຮົາປະສົບຜົນສຳເລັດເປັນຢ່າງຍິ່ງໃຫຍ່

Posted by Yula.la on ວັນອັງຄານ ທີ 5 ມີນາ 2019

According to organizers Yula.la & laorealestate.la;

“The first-ever Laorealestate.la Expo was a huge success, with over 3000 local and international property investors welcomed to Don Chan Palace on the 1st & 2nd of March, 2019.

“Over the two days, the event generated over 10 million USD in property sales and finance referrals.

“Powered by Yula.la, Lao’s leading online marketplace, and in partnership with the LNCCI, over 50 property developers, banks, insurers, and related businesses were on show at the first expo, along with 20+ informative real estate seminars to educate investors and industry insiders.

“Keep your eyes and ears open for the next Laorealestate.la Expo, coming soon!”

English and Chinese below:ຖືວ່າເປັນການປະສົບຜົນສຳເລັດຄັ້ງຫຍິ່ງໃຫຍ່ສຳລັບງານ Laorealestate.la Expo…

Posted by Yula.la on ວັນອັງຄານ ທີ 26 ມີນາ 2019

 

Modern Lao Homes: Paving the Way for A Higher Standard of Home Building in Laos

Modern Lao Homes Interior

Founded by two expatriates, Mr Greg Nolan, an Australian and Mr Benjamin Soo, a Malaysian-Lao, Modern Lao Homes began with the mission to take on the challenges of building quality, modern homes in Laos. In their visits to their client’s properties they’ve been called in to renovate, Greg and Benjamin realized that Lao many houses are in very poor condition, some only a few years old.  This is largely a result of construction companies in Laos using low quality building materials and techniques to cut corners and cut costs.

In just three years since its establishment, Modern Lao Homes has undertaken a total of twenty projects, including renovation, design and home-building in Vientiane. And another ten projects are underway, scheduled to be built in 2019. As the demand for good home construction increases, Modern Lao Homes is striving to make its services readily available for Vientiane, and to carve a name for itself as Laos’ most trusted and valuable home builders.

Satisfied Customers of Modern Lao Homes

Satisfied Customers of Modern Lao Homes

There is also a common local misconception that building a modern house often means it will be a lot more expensive, especially when hiring an expat-run company like Modern Lao Homes to build, but according to Greg and Benjamin, that couldn’t be further from the truth.

Modern Lao Homes Interior

“We are upfront and transparent with the cost it takes to build a good home with our customers,” says Greg.

“Our houses will last for generations, unlike many of the houses that are found in the market today. We are also probably the only company that are transparent enough to show our customers every bill for items purchased and the profit margin we make so they know that they really get their money’s worth,” he continues. 

Modern KitchenAnother of the unique selling points of Modern Lao Homes is the company’s ability to source for products and items overseas that aren’t typically found in Laos. Saw a nice barn door on Pinterest that you think would be great in your kitchen? WiFi lighting in the living room? Sliding doors that slides into the cavity of the walls? The company has a good network with suppliers in Australia, Thailand and Malaysia that would be able to bring in products and materials of your liking to complete your dream home.

 Modern Lao Homes offers a variety of services ranging from home renovations to providing architectural drawings and of course, home building. The process of building a house can be daunting especially with the many paperwork and processes required to obtain build permits but at Modern Lao Homes, all paperwork is carried out by the team to put the customers at ease.

With the upcoming Lao Real Estate Expo 2019 to be held in Don Chan in 1st March this year, the public will be able to experience a VR walk-through of the company’s very own completed houses at their booth. Their booth received great reception and buzz last year during the Lao Build Expo 2018 when they first introduced a new way for customers to experience and see the quality of their builds through the use of VR and has agreed to do it again for their upcoming booths at Lao Real Estate Expo 2019 and Lao Build 2019 this year.

Lao Real Estate Expo 2019

 To contact Modern Lao Homes, visit the Facebook page at: https://www.facebook.com/modernlaohomes/, or call 020 2803 7367 (Lao), 020 9995 6855 (English).

Laos’ First Real Estate Expo Expecting To Draw 40+ Firms To 2-Day Fiesta

via laorealestate.la yula.la & LNCCI. Laotian Times, Lao Post, Champa Meuang Lao among the media partners.

The first real estate investment expo in Laos is set to open eyes, hearts, dreams, and pocketbooks at Don Chan Palace Hotel on Friday & Saturday, March 1-2 2019.

Open to attendance from the public with free entry, Patrons will not only have a chance to eye off some the nation’s best property deals, but go in the draw to win international flight packages and a host of other prizes.

Laorealestate.la, in partnership with the Lao National Chamber of Commerce and Industry (LNCCI) and Laos’ leading online marketplace, www.yula.la, is excited to announce it will be hosting the event.

The Laorealestate.la Expo 2019 is set to bring together Laos’ top property developers, architects, builders, real estate agencies, plot land vendors, banks offering home loans, insurance companies, law firms, and even international property investments.

The Laotian Times, Lao Post and Champa Meuang Lao magazine were among media partners in attendance at the launch.

More than 40 firms will exhibit in one room, for two days only, and the event is expecting over 3000 local and international attendees. Laos’ best luxury car brands and related businesses will also exhibit at the entrance of the event.

On top of a variety of property offerings, the Laorealestate.la Expo will also offer attendees access to a dedicated free seminar room with over 20 seminars from Laos’ leading real estate agents, property development experts, economists, lawyers, financiers, and Government officials.

Various international guests will present in the seminar room, to take a look at Laos’ real estate market in a regional context.

Seminars are focussed on educating buyers and sellers on the Lao investment climate, regulation, pitfalls, and upsides of the sector, and advice for first both first home and experienced buyers.

A special guest confirmed for the event is Dr. Somchai Charoenvarakiet, a Thai Feng Shui Real Estate consultant of over 20 years.

Dr. Somchai is set to offer his insights on how to maximize the positive energy of their home or office through Feng Shui design techniques.

All seminars will be translated via headsets in Lao, English and Chinese languages.

For the first time in the country’s history, all the big names from the Lao real estate industry will be together under one roof.

This presents a perfect opportunity for local buyers and international investors to survey the country’s best property opportunities.

Property sellers and financiers will also bring special expo-only promotions to guests.

 “The LNCCI is proud to be a partner of the first ever specialised real estate investment expo in Laos,” Vice President of the Lao National Chamber of Commerce and Industry (LNCCI), Mr. Daovone Phachanthavong, told the media gathered at the launch.

“Ultimately, events such these will develop the whole sector and the wider economy, sharing information, best practices, business connections and generating a wider consumer base for exhibitors and sponsors, across both local and international networks.”

“This exciting event will provide the perfect platform to celebrate Laos’ real estate industry and to showcase the opportunities this market has to offer to both end-buyers and investors,” Mr Dominick Williams, Chief Executive Officer of APA Insurance Laos (Phongsavanh Insurance (APA) Co., Ltd), the main sponsor and key partner of the laorealestate.la Expo 19 alongside the LNCCI, Yula.la and laorealestate.la, told the gathering.

“Ultimately this will support the progress of the Laos real estate sector and the economy as a whole. As a leading local provider of property and construction insurance, as well as mortgage protection insurance, APA Insurance is delighted to support Expo as partner and main sponsor, and we very much look forward to welcoming guests to Don Chan on March 1st and 2nd, 2019”.

“The 2019 Expo is a great platform for property related businesses to generate leads and increase sales, it also represents a chance to celebrate the local real estate industry and give businesses an opportunity to strengthen their brand.” Mr. James Whitehead, CEO of Yula.la & laorealestate.la, said.

“For our attendees, we are offering a unique opportunity to view a range of property investment options in one room, over 2 days; ranging from plot land options, houses, villas, condos, construction firms, architectural designers, and property services and advice.

“First home buyers will also benefit from a range of home loan options, and specific legal and insurance advice.

“Those seeking international investment, travel, immigration and education options will also benefit from a range of exhibitors advertising opportunities in destinations such as Australia, USA, Europe, Malaysia, and Thailand – to name a few.

“The dedicated seminar room will offer a perfect and totally free opportunity for potential property buyers to learn about taxes, valuations, land laws, investment considerations, market trends and how to finance a home safely, among many other topics. We will have over 20 local and international speakers in the seminar section, over the two-day event.

“The event is now over 70% sold out for exhibitors and sponsors, thanks to a huge effort from the yula.la sales and marketing team, and we have already registered over 1300 local and international guests to join us next month.”

Digital Classified Group (DCG), the Australian-based parent company of Yula.la & Laorealestate.la, is bringing the real estate show concept to Laos after having successfully ran similar expos in several other markets internationally, including Cambodia and Papau New Guinea.

It is boasting a track record of well over USD $80 million worth of property sales at those various events, 30,000 attendees and over 200+ exhibitors.

The event will also be supported through a wide array of Lao and international media partners, including major local media channels both on and offline, Lao’s most prominent business chambers, and an array of investor networks across ASEAN and in China.

Digital Classified Lao Sole Co., Ltd., the Lao subsidiary of Digital Classified Group, would like to extend the utmost thanks to our partners of the first ever Laorealestate.la Expo, namely the Lao National Chamber of Commerce and Industry (LNCCI), the Ministry of Industry and Trade, the Ministry of Industry and Commerce, the Ministry of Planning and Investment, the Ministry of Civil Affairs, the Ministry of Natural Resources and Environment & APA Insurance.

Those wanting to supercharge their brand and business connections are urged to sign up for a booth.

Lao Real Estate Expo 2019

To become an exhibitor or sponsor and take your real estate brand to the next level, visit https://realestatekh.lpages.co/lao-real-estate-expo-2019-exhibitors-sponsors/ or contact: +856 20 55 550 906 | contact@yula.la

Attendees are  encouraged to register as soon for event updates and prizes vis https://realestatekh.lpages.co/lao-real-estate-expo-2019-attendees/ to sign up for free entry and RSVP on Facebook: https://www.facebook.com/events/2192522880987586/

Sponsors include APA Insurance, provider of property and construction insurance, Archineer Associates, Architecture, Engineering and Consultancy firm; Aristo Developers, Property Developing companies in Cyprus, and Bluegrass Design Group and Guru Group, end-to-end marketing companies.

Additional Partners & Media include American-Lao Business Association, The European Chamber of Commerce and Industry in Laos, Austcham Lao, Muan.la, Bizgital, ECCIL (The European Business Chamber), The Laotian Times & LaoPost, Talatlao magazine, Realestate.com.kh, Champa Meuanglao Magazine, J&C Services, 108 Jobs, cvConnect, Kiwipay, Silkroad Media and Big Blue.

The Laotian Times reporting on real estate issues and stories can be found here.

via laorealestate.la yula.la & LNCCI. Laotian Times, Lao Post, Champa Meuang Lao among the media partners.

Lao Real Estate Expo 2019
via laorealestate.la yula.la & LNCCI. Laotian Times, Lao Post, Champa Meuang Lao among the media partners.

Words + Laotian Times; Images + Laos Briefly

Valuation of Your Property in Laos

Laos Valuation

By Work Live Laos
Are you looking to purchase a plot of land, or perhaps a new family home? Or have you inherited some property and are unsure of the value? Maybe you have a portfolio of investment properties and need appraisal? In order to know the true value of your property, you’ll need professional valuation.

Despite the recent entrance of large real estate firms such as Century 21, real property valuation in Laos has not yet been officially authorized as a business activity for the private sector. Currently, certified valuation or appraisal is undertaken by the Department of Registration and Valuation, under the National Land Management Authority. It is possible to request a certified appraisal from this department, and it will be appraised in accordance with the department’s internal land pricing index.

Laos Property Valuation

Ask for a Valuation Consultation

To get an idea of your property’s true market value, however, it is worthwhile contacting a professional real estate agency who can offer you some assistance in understanding it. While this won’t be a certified valuation that can be used as verification for a loan or mortgage, it will give you a more accurate picture of market value.

Valuers in other countries use a variety of different methods to appraise a property. These approaches are often less applicable to the conditions of property ownership in Laos,  and so real estate firms in Laos normally appraise property using what is known as the “comparative method.”

The comparative method, or sales comparison approach, is a simple process of comparing sales of recent properties in a given area. Assuming that a buyer will not be willing to pay more for a property than those directly comparable, research into recently traded properties will provide a valuable insight.

A real estate firm has access to a vast database of information regarding recent sales and market prices, and can therefore make a simple valuation for you based on some quick research. While there are a number of agencies offering this service, Work Live Laos real estate agency is qualified and backed up by a number of satisfied clients.

For more information on property valuation, visit our website at www.worklivelaos.com or send an email to contact@worklivelaos.com

 

This article supplied by Work Live Laos real estate agency.
Work Live Laos

Laos Lacks Condo Law, Lags Behind other ASEAN Nations

Condo in Laos

By Work Live Laos
Have you ever dreamed of purchasing a condo and living out your days with a breezy view of Vientiane from the penthouse suite? While this dream may be close to a reality, it is best to check the legalities before snapping up that top floor condo.

Are there condos in Laos?

Yes, there are. Most condo projects have been constructed within Specific Economic Zones, such as the That Luang Marsh Specific Economic Zone (SEZ), where a Chinese developer, Wan Feng Shanghai Real Estate Company, has constructed a number of 19 storey condo structures. Reportedly, six of the seven completed condos have already been sold, according to a Vientiane Times video.

Another two 45 storey condo projects are set for construction in the Thakhek Specific Economic Zone as part of the Thakhaek Dreamworld City project.

 Why are there so few condos in Laos?

While there a lot of apartment buildings in Laos, almost all of them are built and operated as rental apartments by private owners. It is not possible for apartment constructors or developers to sell units as individual properties due to the lack of clear legislation.

Furthermore, there is still no current Lao law that separates ownership of land from ownership of any structure upon it. No law on strata title. This means that whosoever owns the land on which a condo is built technically owns the entire condo building (regardless of who originally constructed the condominium building).

Can foreigners own a condo in Laos?

Short answer: no, a foreigner cannot own a condo in Laos.

To truly own a condo, a foreigner would need to own the land it is built on, since there is still no law separating land from structures, as mentioned above.

That Luang Marsh Condos

So why are condos being advertised for sale?

The condos currently advertised for sale at specific economic zones are technically not for sale, and in actual fact are being sublet (long-term).

The developer has taken out a specially approved long-term concession on the economic zone, and is then allowed to sub-lease parts of structures built there. Foreigners and locals alike are eligible to lease a part of the structure in the form of a condo unit. This means that, in theory, you are “buying” the condo but only for the life of the developer’s investment.

Ultimately, at the expiration of the developer’s concession, the condominiums will revert to the owner of the land (usually the government).  Although Article 58 of the Lao Investment Promotion Law states that foreign investors with registered capital of US $500,000 and above are entitled to purchase land use rights, the government allocates this land, and rights are only valid for the duration of the investment term.

How does this compare to other ASEAN nations?

The Lao PDR is in fact the only country in ASEAN without any law separating land from structures, and one of the only nations without any specific law governing condos. It is also the only ASEAN nation currently not offering any form of title to foreigners; every other ASEAN nation offers strata title, which effectively allows foreigners the right to co-own condominium buildings.

Here’s a breakdown of foreign property ownership laws in other ASEAN nations:

 

ASEAN Nation Title Type Permitted To Foreigners Most Recent Legislation What it means
Brunei Strata Title 2012 Law -All land sales must be approved by the Sultan

-Limitation of 60 years on period of ownership

Cambodia Strata Title Law on Providing Foreigners with Ownership Rights in Private Units of Co-Owned Buildings, 2010 Foreigners can co-own condos but cannot own land
Indonesia -Limited Landed Title

-Strata Title

Government Regulation No. 103/2015 on House Ownership of Foreigners Residing in Indonesia),
2015
-Restricted to new properties

-Limitation of 80 years on period of ownership

Malaysia -Freehold Title

-Leasehold Title

Section 433B of the National Land Code, 1965

 

-Various programs promoting foreign investment

-Some minimum investment conditions apply

Myanmar -Strata Title Condominium Law of 2016 -Foreigners may own up to 40% of a condominium (including the land)
Philippines -Strata Title Condominium Act of 1966 -Foreigners may co-own up to 40% of a condominium building
Singapore -Strata Title

-Limited Landed Title

Residential Property Act, Revised 2009 -Foreigners may co-own less than 100% of a condominium building

-Foreigners can own land with special permission.

Thailand -Strata Title Condominium Act, 1979, Updated 2008

 

-Foreigners may co-own condominium buildings at no more than 49% of a building.

-Locations of condos are restricted to certain areas in Bangkok, Phuket, and Pattaya.

Vietnam -Strata Title

-Limited Landed Title

Law on Real Estate Business;

Law on Real Residential Housing,
2015

-Limitation of 50 years on period of ownership

– Limitation on number of properties owned, or percentage of ownership of condos

 

This article supplied by Work Live Laos real estate agency.
Work Live Laos