1. Can foreigners own real estate in Vietnam?

The answer is YES. Although Vietnamese law stipulates that land is under collective ownership, foreigners are legally allowed to own residential housing attached to land through time-limited ownership in commercial housing projects.

2.  Requirements for foreign buyers

- Passport: Must be valid and bear an entry stamp issued by Vietnamese immigration authorities

- Residency status: Must not be entitled to diplomatic or consular privileges or immunities under Vietnamese law.

- Payment method: All payments must be made via a credit institution legally operating in Vietnam.

3. Types of residential properties foreigners can purchase

Based on construction status, foreign buyers should distinguish between:

A. Completed Properties

These are apartments or houses that have been fully constructed, inspected, and ready for immediate use.

- Advantages: High legal certainty; buyers can inspect the property and either move in or rent it out immediately.

- Limitations: Higher financial pressure, as most of the contract value must be paid within a short time.

B. Off-plan Properties
This type of residential property is under construction and has not yet been completed or officially inspected.

- Advantages: Lower initial prices and flexible payment schedules (typically 2–3 years).

- Legal conditions: Contracts can only be signed once the foundation/infrastructure is complete, with a Notice of Eligibility for Sale and a bank guarantee to protect the buyer.

4. Ownership types and legal limitations

- Apartments: In commercial housing projects.

- Individual houses: Only in approved housing development projects; cannot buy individual houses owned by households in existing areas, especially in national defense or security zones.

- Ownership caps:

+ No more than 30% of apartments in a condominium building.

+ No more than 250 individual houses in an area equivalent to a ward.

- Ownership term:
Maximum of 50 years, extendable once for another 50 years.

5. Special rights through marriage to a Vietnamese citizen

If a foreigner marries a Vietnamese citizen or an overseas Vietnamese, they are entitled to stable, long-term residential ownership, without being subject to the 50-year limit or the 30% ownership cap.

6. 5-step property purchase procedure

Step 1 – Selection and due diligence:
Check if the project is restricted for foreign buyers.

Step 2 - Deposit:
Sign a deposit agreement to secure the transaction.

Step 3 - SPA:
At a notary office or the developer’s office; the contract is drawn up in Vietnamese, with an optional bilingual version.

Step 4 – Payment and taxes:
The buyer pays applicable taxes and fees. For off-plan properties: 95% paid at handover, remaining 5% upon issuance of Ownership Certificate.

Step 5 – Handover and Ownership Certificate: Developer completes procedures for Land Use Rights and Residential Property Ownership Certificate (Pink Book), maximum 50-year term.