Can Foreigners Buy Real Estate in Vietnam?
Yes, according to the 2014 Housing Law of Vietnam, effective from July 1, 2015, any foreigner who enters Vietnam legally is allowed to purchase certain types of real estate.
How Long Can Foreigners Own Property in Vietnam?
Foreigners can own property in Vietnam for a term of 50 years, with a possibility of applying for one extension. If the property is later sold to a Vietnamese citizen, the ownership automatically converts to permanent ownership. Once transferred to a Vietnamese citizen, the property cannot be sold back to a foreigner.
What Is the Foreign Ownership Limit in a Project?
In Vietnam, there are restrictions on the proportion of units that can be sold to foreigners in each residential project. For condominiums, up to 30% of the total units in a building may be sold to foreigners.
For example, if a building has 1,000 units, only 300 can be sold to foreign buyers.
For landed houses such as townhouses, the foreign ownership limit is 10% of the total units in the project, and in each ward-level administrative unit, foreigners may not own more than 250 units.
Due to unclear regulations, developers often require foreigners to sign long-term lease contracts instead of sales and purchase agreements.
How Many Properties Can One Foreigner Buy?
Currently, there is no specific legal limit on the number of properties a single foreigner can purchase. However, foreigners are prohibited from buying property located in areas designated as sensitive for national defense and security.
Who Can Foreigners Buy Property From?
Foreigners in Vietnam can purchase new properties (primary market) directly from developers or buy existing properties (secondary market) from other foreigners.
How Is Property Size Calculated in Vietnam?
In Vietnam, property size is measured in square meters (㎡). Public spaces like lobbies, gyms, common areas, staircases, and hallways are not included in the unit size.
There are two main ways to calculate property area in Vietnam, typically with a difference of 8–10%. These are clearly stated in the sales contract and the ownership certificate (Pink Book):
-
Usable Area (Vietnamese: Diện tích thông thủy): This includes the actual living space such as the living room, kitchen, bedrooms, bathrooms, and balconies.
-
Gross Floor Area (Vietnamese: Diện tích tim tường): This includes walls (with half of shared walls counted), structural columns, and utility pipes.
