The Chateau: $4.6 million villa in PMH

One of the last remaining corners of Phu My Hung is being filled in...and its called 'Chateau'. Before getting to that however I'd like to just mention the staggering speed at which the BCIS school was built. I took this picture on June 16th this year.

Within three months, the school was finished.

 

That, above, is the view from my balcony. In the foreground, adjacent to the school, is a smallish housing development, townhouses. Beyond, the villas under construction are 'Chateau', which seems to be the crowning final jewel in the Phu My Hung crown. 

 

Pictures from here

We all know that the real estate bubble in this country is astronomical to the point of being visible from northern Finland. Chateau is either a very bad joke or a clear sign that those responsible are not prepared to give up before the crash . Am I over exaggerating? Check the prices: 

A semi-detached villa, 187-300m2, 23-34 billion VND ($1,100,000 - $1,630,000)

A detached villa, 500-700m2, with park view, 58 - 83 billion VND ($2,780,000 - $3,970,000) 

A detached villa, 500-700m2, with river view, 77 - 98 billion VND ($3,670,000 - $4,690,000) 

Yeah....I know. 

Singing in the rain

It's been a very wet couple of weeks in Saigon.