Can foreigners buy houses in Vietnam?

Foreigners buy houses in Vietnam as an attractive option amidst the rapidly developing real estate market. With the open-door policy and favorable regulations, foreigners can own real estate in apartment projects or certain areas. The article below will provide detailed information about regulations on buying, selling and transferring housing that foreigners need to pay attention to comply with.

Foreigners have the right to buy houses in Vietnam

According to the provisions of Clause 1, Article 8, Law on Housing 2023, foreigners allowed to buy houses in Vietnam include:

• Economic organizations with foreign investment capital invest in housing construction projects in Vietnam according to the provisions of this Law and other relevant laws;
• Economic organizations with foreign investment capital, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam (hereinafter collectively referred to as organizations foreign);
• Foreign individuals are allowed to enter Vietnam.

Conditions for foreigners to buy houses in Vietnam

To buy houses in Vietnam, foreigners need to meet the following conditions:

1. Documents proving legal status: Foreign individuals who want to own a house in Vietnam need to provide documents proving their legal status, including passport, civil status documents (if any) or residence permit in Vietnam. These documents need to confirm that the individual has the right to reside and carry out legal transactions in Vietnam.
2. Forms of housing ownership: Foreign individuals can own housing in Vietnam through different forms, including:

• Investment in housing construction;
• Buy and sell housing from investors in legal real estate projects;
• Rent-purchase housing under contract and commitment to ownership after the rental period;
• Receiving a donation or inheritance of legal housing;
• Receive capital contributions to real estate projects in the form of home ownership;
• Exchange housing with other individuals and organizations;
• Receive housing for resettlement according to state policies, in resettlement cases of infrastructure development projects.

3. Not subject to diplomatic and consular privileges and immunities: Foreign individuals who want to own houses in Vietnam must not fall into the cases exempted from diplomatic privileges or consular immunities under regulations of Vietnamese law. These individuals must fully comply with obligations and procedures according to current law.
4. Issuance of Certificate of Housing Ownership: After completing the procedures and fully meeting the conditions of housing ownership, foreign individuals will be issued a Certificate of Housing Ownership. This certificate must be issued in accordance with the provisions of Vietnamese law and has legal value, confirming the individual’s legal ownership of the purchased real estate.

CSPL: Clause 3, Article 18, Law on Housing 2023.

Housing ownership period for foreigners in Vietnam

According to Clause 2, Article 20, Law on Housing 2023, the term of housing ownership for foreigners in Vietnam is as follows:

• Foreign individuals are allowed to own houses according to agreements in transactions of sale, lease-purchase, donation, or inheritance of houses, but not more than 50 years from the date of being granted the Certificate and can be extended once for a period of not more than 50 years if needed;
• The term of home ownership must be clearly stated in the Certificate.

Where foreigners are not allowed to buy houses in Vietnam

Foreigners are not allowed to buy houses in Vietnam in the following cases:

1. Housing in areas ensuring national defense and security: Foreign individuals are not allowed to own houses in areas with special requirements for national defense and security. These areas have strict restrictions to protect national security interests, and home ownership in these areas must comply with the law;
2. Limit on the number of houses: Foreign individuals can own houses in Vietnam, but must comply with the limits on the number of ownership:

• Apartments: Foreign individuals can only own a maximum of 30% of the total number of apartments in an apartment building;
• Individual houses (including villas and townhouses): Each area with a population size equivalent to a ward is only allowed to own a maximum of 250 houses by foreigners, regardless of the form of purchase, lease-purchase, gift or inheritance.

3. Not meeting the conditions of legal status and proof of documents: Foreign individuals who want to own a house in Vietnam must provide full documents proving their legal status, such as passport, residence permit or related documents. If these requirements are not met, that individual will not be able to conduct housing ownership transactions;
4. Right to sell or donate housing: Foreign individuals can sell or donate their housing, but must do so through authorization to another individual residing and operating legally in Vietnam. These foreign individuals can authorize people residing in Vietnam to sell or donate the housing they own.

CSPL: Article 19, Article 22, Law on Housing 2023.

Consulting services on home ownership issues in Vietnam for foreigners

With a team of experts with many years of experience in the field of consulting on housing ownership for foreigners in Vietnam. At Long Phan, we are committed to providing customers with the most optimal consulting and support services.

Services provided by Long Phan include:

• Consulting on housing ownership regulations, providing information on regulations, and limiting ownership areas and areas for foreigners;
• Assist customers in preparing complete documents and procedures to complete housing purchase and sale transactions;
• Consulting on choosing the right type of housing to suit customers’ needs in accordance with current housing ownership regulations;
• Support negotiations, drafting contracts and ensuring transparent and agreements;
• Tax and financial obligation advice on costs, taxes and fees related to housing transactions.

If there is a need, customers can immediately contact Long Phan via the hotline: 0906735386 for advice on issues related to buying, selling and owning housing in Vietnam. We will provide detailed information and specific instructions for you to complete the procedures as quickly and effectively as possible.