Under the 2023 Housing Law and implementing decrees, foreigners are permitted to buy and own real estate in Vietnam under specific conditions.
Who Can Buy Property in Vietnam?
- Foreign individuals who have been granted entry visas to Vietnam
- Foreign-invested enterprises established and operating in Vietnam
Types of Property Allowed
Foreigners may only purchase apartment units in condominiums (not standalone houses or land plots) in projects approved for foreign ownership. Each project has a maximum quota of 30% of apartments for foreign buyers.
Ownership Term
The ownership term is 50 years, extendable for another 50 years. If married to a Vietnamese citizen, ownership may be indefinite.
Purchase Procedure
- Sign a deposit agreement (typically 10–30% of property value)
- Notarize the purchase contract
- Pay taxes (0.5% of property value for buyer)
- Register ownership transfer at the Land Registration Office
Important Notes
Foreigners may not use the property for short-term rental services (Airbnb). It is strongly recommended to hire a real estate lawyer specializing in foreign transactions to protect your interests.
