What types of houses can foreigners buy in Vietnam?

What types of houses can foreigners buy in Vietnam? This is an important question to help foreign individuals and organizations clearly understand housing ownership rights according to Vietnamese law. Accurately capturing information will help foreigners choose the appropriate type of house, carry out legal transactions, ensure stable ownership and use rights, and contribute to promoting the transparent and effective development of the real estate market.

What types of houses can foreigners buy in Vietnam?

Pursuant to Clause 2, Article 17 of the Law on Housing 2023, foreigners can own housing in Vietnam through the following forms:

• Form 1: Purchase, hire-purchase, inheritance, or donation of commercial housing, including apartments and individual houses in housing construction investment projects (except for areas ensuring national defense and security according to Government regulations);
• Form 2: Purchase or lease-purchase of housing from foreign organizations or individuals who already own housing under form 1.

Thus, it can be seen that the forms of buying housing permitted by law for foreigners are specific and have many limitations compared to Vietnamese citizens.

Accordingly, foreigners are allowed to buy housing in Vietnam in the form of commercial housing including apartments and individual houses in housing construction investment projects (except for areas ensuring national defense and security according to Government regulations).

>>>See more: Can foreigners buy houses in Vietnam?

Conditions for foreigners to buy houses in Vietnam

Pursuant to Point c, Clause 1, Article 17, Clause 3, Article 18 and Article 19 of the Law on Housing 2023, to buy housing in Vietnam, foreigners need to meet the following specific conditions:

1. Conditions on personal status: foreigners must be allowed to enter Vietnam and not be eligible for diplomatic and consular privileges and immunities according to current regulations.
2. Conditions for documents proving eligibility: Pursuant to Article 3 of the Decree 95/2024/ND-CP, foreigners need to have documents proving their eligibility to buy a house in Vietnam as follows:

• For individuals who are Vietnamese citizens, they must have an identification card or passport or other documents proving Vietnamese nationality;
• For people of Vietnamese origin residing abroad, they must have a foreign passport or documents valid for international travel according to the law on immigration and documents certifying that they are of Vietnamese origin according to the provisions of law on nationality;
• For foreign individuals, they must have a foreign passport and a written commitment that they are not eligible for diplomatic or consular privileges and immunities.

3. Conditions on quantity and location of housing (Article 19 of the Law on Housing 2023):

• Foreign individuals are only allowed to buy and own no more than 30% of the number of apartments in an apartment building;
• For individual houses (villas, townhouses), the quantity purchased must not exceed 250 houses in an area with a population size equivalent to a ward;
• In case an area with a population equivalent to a ward has many apartment buildings or individual houses on a street, the number purchased and owned must not exceed the above limit;
• You are not allowed to buy houses in areas that need to ensure national defense and security as prescribed in Article 16 of the Law on Housing.

Thus, foreign individuals must meet the following 3 conditions to buy housing in Vietnam including: Conditions on personal status; Conditions for documents proving eligibility; Conditions on housing quantity and housing location.

>>>See more: Consulting on the rights and obligations of tenants buying houses in Long Phan

Procedures for buying housing in Vietnam for foreigners

To be able to buy housing in Vietnam, foreigners need to carry out the following procedures:

Prepare documents

Foreigners need to prepare documents and submit documents to transfer the Certificate, including the following documents:

1. Application for registration and issuance of Certificate of land use rights, ownership of housing and assets attached to land;
2. Certificate of land use rights, ownership of houses and other assets attached to land (original + certified copy);
3. Diagram of assets attached to land (except in cases where the documents on ownership of assets attached to land already have an asset diagram consistent with the current status);
4. Notarized housing purchase and sale contract (original + certified copy);
5. ID card, household registration book of the parties (certified copy)/or passport);
6. Copy of marriage certificate or certificate of personal status;
7. Original receipt for payment of financial obligations;
8. Personal income tax declaration;
9. Registration fee declaration;

Procedure

Procedures for buying housing in Vietnam for foreigners include the following steps:

Step 1: Make a contract. Pursuant to Article 163 of the Law on Housing 2023, the parties agree and establish a written housing purchase and sale contract, including main contents such as:

• Information of parties participating in the transaction;
• Describe characteristics of transactional housing;
• Transaction value and payment method;
• Time limit for housing delivery;
• Rights and obligations of the parties;
• Commitments of the parties and responsibilities due to breach of contract;
• Dispute resolution methods;
• Date, month and year of signing the contract.

Note: For apartment purchase and sale contracts, it is necessary to clearly state the common ownership, common use, duration of use of the apartment, private use area, common use purpose, management service price, responsibility for paying maintenance costs.

Step 2: Carry out notarization or authentication of housing purchase contracts at:

• Organization of notary practice; or
• Attestation at the People’s Committee of the commune where the house is located.

Step 3: Apply for a Certificate:

• The parties agree to have one party submit an application for a Certificate of housing ownership;
• In case of buying a house from a project investor, the investor is responsible for carrying out procedures to issue a Certificate to the buyer, unless the buyer voluntarily does so;
• Documents are submitted to the Land Registration Office or the Department of Natural Resources and Environment where the house is located.

The land management agency will inspect the current status of real estate and carry out necessary professional procedures as a basis for issuing a certificate.

Step 4: Pay taxes and fees:

After receiving documents from the Land Registration Office or the Department of Natural Resources and Environment, the tax authority will determine and notify the financial obligations payable.

Home buyers must pay all taxes, fees and charges according to regulations, including:

• Registration fees;
• Income tax (if any);
• Other fees as prescribed.

Step 5: Receive Certificate. After completing the procedures and financial obligations, the buyer will be issued a Certificate of housing ownership according to regulations.

Above are all the procedures that foreign individuals need to follow when wanting to own a house in Vietnam.

>>>See more: How to pay for housing purchase contracts formed in the future?

Consulting services on housing buying procedures in Vietnam for foreigners at Long Phan Consulting Company

Long Phan Consulting Company provides professional consulting services on housing buying procedures for foreigners in Vietnam, including:

• Consulting on conditions for foreigners to buy houses in Vietnam;
• Support in checking the legality of real estate;
• Draft and complete housing purchase and sale contracts;
• Support in carrying out notarization and contract authentication procedures;
• Authorized representative to carry out procedures for granting a Certificate of housing ownership;
• Support in resolving problems that arise during the housing buying process (if any).

With a team of experienced consultants and knowledgeable about Vietnamese law, Long Phan Consulting Company is committed to accompanying foreign customers throughout the home buying process, ensuring procedures are carried out in accordance with regulations, transparently, safely and effectively.

Some frequently asked questions about procedures for buying housing in Vietnam for foreigners

We would like to provide some common questions about procedures for buying housing in Vietnam for foreigners. Please refer!

What types of houses can foreigners buy in Vietnam?

Foreigners are allowed to buy apartments and individual houses (including villas and townhouses) in commercial housing construction investment projects, except in areas ensuring national defense and security.

What forms of housing ownership are allowed for foreigners in Vietnam under the Law on Housing 2023?

The Law on Housing 2023 allows foreigners to own housing through investment in construction projects (for economic organizations with foreign investment capital), purchase, lease-purchase, inheritance, donation of commercial housing in the project (except for defense and security areas), and purchase, lease-purchase of housing from other foreigners who already own it in the second form.

What conditions need to be met for foreigners to buy a house in Vietnam?

To buy housing in Vietnam, foreigners need to have permission to enter the country, not be subject to diplomatic immunity, have a valid passport or entry documents, and comply with limits on the number and location of housing (no more than 30% of apartments in a building, no more than 250 individual houses in an area equivalent to a ward, and not in defense or security areas).

What documents prove eligibility for foreigners to buy houses in Vietnam?

People of Vietnamese origin abroad need a valid passport with an entry stamp. Foreigners need a valid passport or equivalent legal documents with an entry stamp to Vietnam at the time of transaction.

What is the maximum number of houses that a foreign individual is allowed to own in an apartment building?

Foreign individuals are only allowed to buy and own no more than 30% of the total number of apartments in an apartment building.

What is the maximum number of individual houses that a foreign individual is allowed to own in an area equivalent to a ward?

For individual houses (villas, townhouses), foreign individuals are not allowed to own more than 250 houses in an area with a population equivalent to a ward.

Are foreigners allowed to buy individual houses in existing residential areas?

No, foreigners are not allowed to buy individual houses in existing residential areas.

Above are some questions about procedures for buying housing in Vietnam for foreigners that you may be interested in. We hope that the above answers have partly answered your questions about this issue.

Conclude

Thus, according to current law, foreigners can own houses in Vietnam but need to follow a certain order and procedures. If you need detailed advice on housing buying procedures in Vietnam, please contact Long Phan Consulting Company immediately via the hotline 0906735386 to receive timely and professional support from a team of experts.