Blog Details

If “Can foreigners buy real estate property in Vietnam '' is still a question - then the answer is YES. According to the Vietnam Housing Law, effective from July 1, 2015, Law on Residential Housing 2014, foreigners can buy and own both apartments and separate houses in Vietnam. In fact, it is a top pick for expats who want to invest in real estate. Its stunning landscape, bustling culture, and loving locals contribute to the growth of interest among foreigners.

However, buying property in Vietnam can be complicated, especially with all the complicated rules and regulations involved. Here are some of the key points to take notice of:

• Foreign travelers can purchase properties in Vietnam as long as they hold a legitimate tourist visa.

• There is no limit to the number of property units foreigners can buy. However there is a restriction on purchasing more than 250 houses within the same ward.

• There is a limit on the number of units that foreigners can purchase in condominium blocks. There is a restriction on the ownership of real estate in one landed project, with a minimum of 10% allowed.

• The land leasehold has a duration of 50 years, but now it can be renewed. Foreigners are allowed to buy buildings and structures on the land,  but are not allowed to buy the land itself. 

• Foreigners who are married to Vietnamese are eligible for freehold ownership.

Obviously these rules and regulations are of much concern to denser cities like Hanoi and Saigon. However these laws are comparatively new and Vietnam used to have even more restrictions. 

Is It Safe To Property In Vietnam As A Foreigner?

Vietnam has a well-documented land registry system, and the government maintains a good record of plots in major cities. Unless you’re buying rural property for sale in Vietnam, you’re unlikely to encounter any problems related to clarity and property rights.

Challenges in purchasing Vietnamese real estate mainly arise from sellers rather than the government. Therefore, before purchasing a property, you should research the reputation of the property developer. Always look for well-established, experienced agencies like Richta House to get your hands on genuine properties at profitable rates.

Real Property Ownership For Foreigners in Vietnam - “The Pink Book”

Before buying any real estate in Vietnam, foreign investors have to obtain a certificate of proprietorship  - which is issued by the Vietnamese government. Also known as the “Pink Book”, this certificate asserts the ownership of houses, land use, and other assets associated with the land.

Some of the uses of Pink Book:

Allow the use of the property for residential or other purposes.

Allow the owner to rebuild, renovate, maintain, or dismantle the property in accordance with construction laws. 

 Empower the owner to transfer the property to an heir or mortgage, sell, or lease the property.

Restrictions Applied To Foreigners When Buying A Property In Vietnam

• Foreigners can easily buy and own property in Vietnam. However, in accordance with Deeecree 99/2015/ ND-CP, there are a few legal restrictions to abide by:

• Foreign buyers cannot purchase properties directly from (i) investors of housing projects or (ii) foreign house owners;

• Foreigners can only inherit or receive houses owned by Vietnamese individuals/ households/ organizations;

• Foreigners must make the property purchase transaction through banks operating in Vietnam.

• Foreign buyers are prohibited to buy properties near the national security or defense areas;

Want To Invest In Property In Vietnam?

Vietnam welcomes foreign property investors with open arms. Attractive properties, tax incentives and profitable opportunities makes Vietnam one of the top countries to invest in real estate. Anytime you need help with your Vietnam property investment and ownership - feel free to get in touch with professional realtors of Richta House. Our team will guide you to make the best property investment decision in Vietnam. For more info, email us!