Buying Well-Priced Apartments for Overseas Vietnamese

Buying well-priced apartments for overseas Vietnamese is becoming a popular trend as the real estate market grows increasingly transparent and the legal framework perfects itself. Choosing the right apartment not only optimizes investment costs but brings multiple benefits regarding liquidity, rental exploitation capacity, and asset management convenience while living or working abroad. In the following article, Long Phan Consulting Company outlines the selection criteria for buying well-priced apartments for overseas Vietnamese.

Overseas Vietnamese are permitted to own apartments in Vietnam

To ensure success in buying well-priced apartments for overseas Vietnamese, one must first clearly determine which Overseas Vietnamese subjects are permitted to own apartments in Vietnam under current laws, ensuring a lawful and safe transaction. Vietnamese law permits Overseas Vietnamese to buy apartments under specific business forms and purposes, depending on their nationality status, pursuant to Clauses 2 and 3, Article 10 of the 2023 Law on Real Estate Business.

For Vietnamese citizens residing abroad

Under Clause 2, Article 10 of the 2023 Law on Real Estate Business, Overseas Vietnamese who are Vietnamese citizens (under nationality laws) and permitted to enter Vietnam may engage in real estate business in several forms, which also creates a legal foundation for buying well-priced apartments for overseas Vietnamese in a compliant and effective manner:

• Investing in the construction of housing and construction works for sale, lease, or lease-purchase.
• Investing in technical infrastructure construction within real estate projects to transfer, lease, or sublease land use rights equipped with infrastructure.
• Buying, or lease-purchasing housing, construction works, or construction floor areas for sale, lease, or lease-purchase.
• Receiving the transfer of land use rights equipped with technical infrastructure within real estate projects to transfer or lease.
• Leasing housing, construction works, or construction floor areas to sublease.
• Leasing land use rights equipped with technical infrastructure within real estate projects to sublease.
• Receiving the transfer of an entire or partial real estate project to continue investment, construction, and business.

For people of Vietnamese origin (who no longer hold Vietnamese citizenship) living abroad

Pursuant to Clause 3, Article 10 of the 2023 Law on Real Estate Business, Overseas Vietnamese who are not Vietnamese citizens but are permitted to enter Vietnam may engage in real estate business in several forms, thereby expanding opportunities related to buying well-priced apartments for overseas Vietnamese within the framework of Vietnamese law:

• Investing in the construction of housing and construction works attached to land use rights for sale, lease, or lease-purchase through real estate projects (complying with land law regulations regarding forms, purposes, and land use terms).
• Investing in technical infrastructure construction within real estate projects to transfer, lease, or sublease land use rights equipped with infrastructure.
• Leasing housing, construction works, or construction floor areas to sublease.
• Receiving the transfer of an entire or partial real estate project to continue investment, construction, and business.

Criteria for choosing affordable apartments for overseas Vietnamese

When it comes to buying well-priced apartments for overseas Vietnamese, identifying suitable selection criteria such as location, legal status, amenities, and potential for price appreciation will help buyers make more accurate and effective decisions. Choosing real estate based on factual data helps limit liquidity risks. Buyers need to carefully analyze the factors that constitute the value of an apartment before signing a deposit contract.

Location and potential for price appreciation

Location dictates up to 70% of an apartment’s long-term value growth potential, which is why buying well-priced apartments for overseas Vietnamese often starts with selecting areas that have strong infrastructure planning or proximity to major transport routes. Projects in urban cores or new economic zones typically offer higher profit margins.

Reputation of the developer and legal aspects of the project

Evaluating the developer’s reputation and checking the project’s legality minimizes risks and ensures long-term lawful ownership — especially in the context of buying well-priced apartments for overseas Vietnamese. You should only transact in projects possessing construction permits and written confirmations of eligibility to sell off-plan housing. Checking the developer’s history of handing over homes is the best way to authenticate their financial capacity.

Construction quality and on-site amenities

For those focused on buying well-priced apartments for overseas Vietnamese, considering the construction quality and internal amenities is crucial, as it directly impacts the living experience and long-term value. Buyers should inspect the fire safety system, elevators, and the professional management company. A green and safe living environment will always retain its value better than older apartment complexes.

The selling price is compared to the average price in the area

When engaging in buying well-priced apartments for overseas Vietnamese, comparing the selling price with the general market price in the area will help buyers accurately assess the value of the apartment and avoid buying at an unreasonable price. Please request a detailed price list and any early payment discounts from the developer. Buying during the initial stages of a project usually allows you to secure the most favorable price.

Potential for rental income or investment

When evaluating buying well-priced apartments for overseas Vietnamese, the potential for rental income or investment returns is a crucial factor, especially for those who do not reside in Vietnam regularly. The rental yield is a measure of the effectiveness of the investment. It is advisable to choose apartments in areas with a high concentration of foreign professionals or near large industrial zones. The ability to quickly liquidate assets is key when you wish to divest and change your business focus.

After selecting a suitable property, you need to proceed to the stage of completing the transfer procedures in accordance with regulations. This process requires accurate documentation and strict adherence to legal procedures in Vietnam.

>>>See more: What are the Conditions for Overseas Vietnamese to Invest in Real Estate Projects in Vietnam?

Conditions for transferring apartment purchase contracts to overseas Vietnamese

Understanding the legal framework is essential in buying well-priced apartments for overseas Vietnamese, particularly when dealing with contract assignments. Transferring a sale contract is a common transaction, especially for projects under construction or those yet to receive the Pink Book. To ensure a safe purchase, buyers must clearly grasp the transfer conditions in accordance with current laws.

A contract transfer is regulated under Point l, Clause 1, Article 44 of the 2023 Law on Real Estate Business. To execute this lawfully, you must meet the conditions in Clause 1, Article 50 of the 2023 Law on Real Estate Business:

• The dossier requesting the competent state agency to issue the Certificate of Land Use Rights and Ownership of Land-Attached Assets has not yet been submitted.
• The sale contract is not under an active dispute being processed by competent agencies; if a dispute existed, it must have been resolved by a legally effective judgment/decision.
• The housing/construction work under the sale contract is not distrained or mortgaged to secure obligations, unless the mortgagee agrees.
• The sale contract was established per real estate business laws.

The transfer applies to the entire contract. If multiple apartments are in one contract and parties wish to transfer a specific unit, they must amend the contract or sign an appendix prior to the transfer.

Documents for transferring a condominium purchase contract to an overseas Vietnamese citizen

A well-prepared dossier is a key requirement in the process of buying well-priced apartments for overseas Vietnamese, as it helps ensure the transaction proceeds smoothly and in full compliance with Article 13 of Decree 96/2024/ND-CP. The dossier includes:

Transfer Contract: 08 copies (02 for the developer, 01 for the tax agency, 01 for the Certificate-issuing agency, 02 for the transferor, 02 for the transferee). If notarized, 01 additional copy is kept at the notary office.

Notarization Request Dossier:

• Original copies of the contract assignment agreement.
• The original contract was initially signed with the project developer. In case of assignment of one or several apartments out of the total number of units purchased or leased under the contract, the original contract or an annex specifying the assigned apartment(s) signed with the developer must be submitted.
• Documents proving the amount paid by the assignor to the project developer (receipts, payment vouchers, bank transfer orders, or other payment documents).
• The original or a certified copy of the handover minutes for the housing or construction works (if any).

Handover Minute: Original or authenticated copy of the housing handover minute (if any).

Tax Documents: Proof of tax payment or tax exemption/reduction under tax laws.

Previous Transfer Dossiers: For transfers from the second time onward, all dossiers of previous transfers must be submitted.

Other Documents: As prescribed by notarization/authentication laws (if any).

Note: If the transferor is a real estate business enterprise, notarizing the transfer contract is not mandatory unless the parties desire it.

Procedures for transferring apartment purchase contracts to overseas Vietnamese

Pursuant to Article 13 of Decree 96/2024/ND-CP (as amended by Article 4 of Decree 54/2026/ND-CP), the process of buying well-priced apartments for overseas Vietnamese typically follows these steps:

Step 1: Preparation of the Assignment Contract

The assignor and the assignee agree to prepare an assignment contract in accordance with the template provided in Appendix XI issued together with Decree No. 96/2024/ND-CP.

The assignment contract must be made in writing, in a number of copies as agreed by the parties but not fewer than six (06) originals, ensuring compliance with the requirements of the transaction and the performance of obligations under the laws on land, housing, real estate business, taxation, notarization, and other relevant laws.

Step 2: Submission of Dossier for Notarization

Submit the dossier to a notarial practice organization located in the province or centrally governed city where the real estate is located to notarize the assignment contract.

In case the assignor is an enterprise engaged in real estate business, notarization of the assignment contract is not mandatory as prescribed above, unless the parties request notarization.

Step 3: Payment of Taxes, Fees, and Charges

After notarization (if any), the parties to the assignment contract are responsible for paying taxes, fees, and charges related to the assignment in accordance with the law.

Step 4: Request for the Developer’s Confirmation of the Assignment

Submit the dossier to the real estate project developer to request confirmation of the assignment contract.

The dossier includes:

• Original copies of the assignment contract together with the original sale and purchase contract;
• Documents evidencing payment of taxes or eligibility for tax exemption or reduction in accordance with tax laws.

The developer’s confirmation on the assignment contract serves as the basis for transferring the rights and obligations of the parties.

Step 5: Developer’s Confirmation

Within five (05) working days from the date of receipt of a complete dossier, the developer is responsible for reviewing and confirming the assignment contract and must not charge any fees.

After confirmation, the developer retains two (02) copies of the contract and returns six (06) copies along with the submitted documents to the applicant.

Step 6: Continuation of Rights and Obligations

From the date the assignment contract is confirmed by the developer, the assignee shall continue to exercise the rights and perform the obligations of the purchaser or lessee-purchaser with the developer in accordance with the signed contract and the assignment contract.

Step 7: Issuance of Certificate

The final assignee under the last executed assignment contract shall be granted a Certificate by the competent state authority in accordance with the law on land.

This procedure applies to all assignment transactions, forming an important part of the legal framework for buying well-priced apartments for overseas Vietnamese. For assignments from the second time onwards, it is mandatory to submit a complete dossier covering all previous assignment transactions to ensure transparency and compliance.

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Things to note when transferring a condominium purchase contract to overseas Vietnamese

When engaging in buying well-priced apartments for overseas Vietnamese through contract transfers, buyers should pay close attention to several critical issues to ensure their rights are fully protected and to avoid unnecessary disputes.

• Carefully review the transfer clauses in the apartment purchase agreement, avoiding restrictive or unfavorable terms.
• Ensure that the transfer contract is notarized and authenticated in accordance with regulations to have legal validity and serve as a basis for protecting your rights in case of disputes.
• Fulfill all financial obligations arising from the transfer transaction, including personal income tax, notary fees, and transfer confirmation fees at the developer.
• Keep records, documents, and minutes of meetings with the investor and notary public to serve as legal evidence when needed.
• For unfinished projects, it is necessary to verify the construction progress, project legal status, and developer’s capacity to minimize the risk of delayed handover or not being granted a land ownership certificate.
• Consult with a specialized lawyer for advice and support in handling arising situations and maximizing the protection of your legal rights.

These notes play an essential role in buying well-priced apartments for overseas Vietnamese, as they help you proactively prevent risks while ensuring that all transactions are conducted safely and in full compliance with the law.

Long Phan Consulting Company provides apartment purchase consulting services for overseas Vietnamese

The expert team at Long Phan Consulting Company provides comprehensive consulting solutions for clients residing abroad, particularly in supporting buying well-priced apartments for overseas Vietnamese through a structured and professional approach. Our services are organized into the following key areas:

• Conduct a project review and assess the financial capacity of the investor.
• Providing advice on home ownership requirements and preparing documentation to prove Vietnamese expatriate origin.
• Drafting and reviewing sales contracts and contract transfer documents for apartments.
• We will represent you in handling notarization procedures, paying taxes, and working with the developer.
• We provide advice on legal international money transfer solutions for real estate payments in Vietnam.

Frequently Asked Questions about buying well-priced apartments for overseas Vietnamese

Below are some frequently asked questions that commonly arise in the context of buying well-priced apartments for overseas Vietnamese. Please feel free to refer to them for further guidance:

Who are overseas Vietnamese according to Vietnamese law?

According to Vietnamese law, the term “Vietnamese expatriate” is commonly used to refer to “Vietnamese people residing abroad.” Specifically, according to Clause 3, Article 3 of the 2008 Vietnamese Nationality Law, Vietnamese people residing abroad include:

• Vietnamese citizens residing abroad: These are individuals who still hold Vietnamese citizenship but live and work abroad.
• People of Vietnamese origin residing abroad: These are individuals of Vietnamese descent who have renounced Vietnamese citizenship and are currently residing and working abroad.

Are there any restrictions on the number of houses that Vietnamese people residing abroad who still hold Vietnamese citizenship can purchase?

No. According to Article 4 of the 2024 Land Law and Article 19 of the 2023 Housing Law, Vietnamese people residing abroad who are Vietnamese citizens have the right to own houses and use land normally like individuals in the country, without any limitations on the number or type of real estate.

Can people of Vietnamese origin who no longer have Vietnamese citizenship purchase houses with attached land use rights?

Yes. Clause 1, Article 44 of the 2024 Land Law states that people of Vietnamese origin residing abroad who are permitted to enter Vietnam have the right to own houses attached to land use rights in Vietnam through forms such as purchasing or lease-purchasing commercial housing.

If overseas Vietnamese buy an apartment but don’t live in Vietnam regularly, how do they manage their property?

According to Article 57 of the 2024 Notarial Law, overseas Vietnamese can authorize relatives or organizations in Vietnam in writing (with notarization or certification) to manage, use, or conduct transactions related to real estate on their behalf.

What documentation requirements do overseas Vietnamese need to meet to receive land compensation?

According to Clause 2, Article 95 of the 2024 Land Law, in order to receive compensation for land when the State reclaims it, land users must have one of the following types of documents:

• Land use right certificate or other legally equivalent certificates;
• Decisions on land allocation, land leasing, or permission to change land use purposes by competent state agencies;
• Documents relating to land use rights as stipulated in Article 137 of the 2024 Land Law;
• Other legal documents include certificates acknowledging the results of the land use rights auction and that financial obligations have been fulfilled.

Do overseas Vietnamese have the right to inherit an apartment in Vietnam?

You have the right to inherit an apartment like a domestic citizen according to the provisions of civil law. According to Clause 4, Article 44 of the 2024 Land Law, if all heirs to the land use rights and ownership of housing are Vietnamese citizens residing abroad, they are granted a Certificate of Land Use Rights. If you are not entitled to ownership, you can only receive the value of that inheritance through transfer to another person.

Can overseas Vietnamese participate in auctions for land use rights to build apartment buildings?

You are entitled to participate in land use right auctions just like domestic individuals and organizations if you are a Vietnamese citizen residing abroad. According to Article 125 of the 2024 Land Law, the State allocates land with land use fees collected through auctions to eligible entities, including Vietnamese citizens residing abroad. This is an opportunity for you to directly invest in large-scale real estate projects in your homeland.

Conclusion

Grasping the regulations on buying well-priced apartments for Overseas Vietnamese helps you own assets safely and effectively. You should capitalize on the period of strong infrastructure development to make the most suitable investment decisions.

If you require in-depth support regarding title transfer procedures or project reviews in the process of buying well-priced apartments for overseas Vietnamese, please contact us. You can connect via Hotline 1900636389 to receive direct consultation from the experts at Long Phan Consulting Company.