Buying Property in Vietnam as a Foreigner

What can a foreigner actually buy?

The Housing Law allows foreign individuals to own housing in cases provided by law, primarily eligible housing in commercial housing projects open to foreign ownership. Do not assume that an object is legally available simply because a seller is willing to sign a contract. Before paying a deposit, verify the project's legal status and the remaining foreign quota.

The 30% condominium cap

In a condominium building, foreign organisations and individuals collectively may own no more than 30% of the apartments. A unit may therefore be on the market while the project's foreign quota has already been exhausted. This should be confirmed before making a substantial deposit.

Detached houses

Villas and townhouses are subject to a different quantitative limit: up to 250 detached houses within an area with a population equivalent to one ward, subject to further government rules. This does not mean every private house is automatically available to a foreign buyer.

Ownership term

For a foreign individual, the Housing Law allows an agreed ownership period of no more than 50 years from the date of the ownership certificate. Subject to the statutory procedure and conditions, one extension of up to another 50 years may be available. A different regime can apply where the foreign individual is married to a Vietnamese citizen.

Housing ownership and land rights are different

Vietnamese law distinguishes ownership of housing from land-use rights. The Land Law separately defines the categories of persons and organisations that may receive land-use rights. A normal foreign housing buyer should not treat ownership of an eligible apartment or house as equivalent to Western-style freehold ownership of the underlying land.

What to verify before paying a deposit

1. The legal status of the project and developer.
2. Whether the unit is eligible for foreign ownership.
3. Whether foreign quota remains available.
4. Which document proves the seller's right to dispose of the property.
5. The ownership term that will appear on the certificate.
6. Outstanding debts, restrictions, mortgages, or encumbrances.
7. Payment schedule and deposit-refund conditions.
8. Taxes, fees, and maintenance fund obligations.
9. Who performs the legal due diligence and is responsible for the conclusions.

New development vs resale

In a new development, the developer can usually provide the project-document package, but you still need to verify foreign-ownership eligibility and contract terms. On the resale market, you also need to verify the current owner's certificate and whether the specific transfer to a foreign buyer is legally possible.