Foreign buyers
Foreigners Buying Property in Vietnam: What's Allowed and What You Need to Know
Foreigners are legally permitted to purchase property in Vietnam under the Housing Law, but ownership is limited to 50 years (renewable), land cannot be purchased outright, and the number of units a foreigner can own within a single project is capped. This article covers everything you need to know — eligibility requirements, procedures, and practical considerations for buyers in 2025.
Can foreigners buy property in Vietnam?
The short answer is yes, but this comes with important legal conditions and restrictions. Since the Housing Law 2014 (amended in 2022 and further updated under the Housing Law 2023, which took effect on 01/01/2025) was enacted, Vietnam has officially opened its residential property market to foreign individuals and organisations. This represents a major step forward from the previous era, when foreigners had virtually no legal right to own property in Vietnam.
However, being "allowed to buy" is not the same as "buying freely like a Vietnamese citizen." You need to have a clear understanding of the scope, limitations, and procedures before committing any money.
Which foreigners are eligible to buy property?
Under current regulations, the following groups are eligible to own residential property in Vietnam:
| Category | Additional Requirements |
|---|---|
| Foreign individuals | Permitted to enter Vietnam (a valid visa is required; visa-exempt entry also qualifies) |
| Foreign-invested enterprises | Must have foreign investment capital and be legally established and operating in Vietnam |
| Overseas Vietnamese (Việt kiều) | Must hold Vietnamese citizenship or provide proof of Vietnamese origin; entitled to rights nearly equivalent to domestic Vietnamese citizens |
An important point: foreigners do not need a work permit or permanent residency in Vietnam to be eligible to purchase property. A valid passport and a valid visa at the time of entry are sufficient to meet the basic eligibility requirements.
You can find further legal details at Thư viện Pháp luật, which publishes the full text of the Housing Law and its implementing decrees.
What types of property can foreigners buy?
This is the most important restriction to keep in mind:
Permitted purchases:
- Condominium apartments in approved development projects
- Individual residential properties (townhouses, villas) within licensed commercial projects
NOT permitted:
- Residential land (foreigners do not hold land use rights under the Land Law)
- Homes attached to land held in the name of a Vietnamese individual (i.e., outside of a project)
- Real estate in areas designated for national defence or security
In practice, the majority of foreigners in Ho Chi Minh City opt to purchase high-rise condominium apartments in central districts such as District 1, District 2 (Thảo Điền, An Phú), and District 7 (Phú Mỹ Hưng), as these are the most common property types within commercial projects approved for foreign ownership.
Browse currently available projects open to foreign buyers in Ho Chi Minh City: Newly Launched Projects.
Ownership quotas: how many units can a foreigner buy?
The law sets clear limits on the proportion of foreign ownership within any given project:
- Condominium apartments: A maximum of 30% of the total number of units in a single apartment building
- Individual residential properties (townhouses, villas): A maximum of 250 units within a single ward-level administrative area
This means that some high-demand projects in Ho Chi Minh City may have already exhausted their foreign ownership quota. When negotiating a purchase, you must request written confirmation from the developer or agent that the project still has available quota for foreign buyers.
Additionally, each foreign individual may own only one individual residential property (townhouse or villa). For condominiums, the law does not limit the number of units any single person may own, provided the total foreign ownership across the project does not exceed the 30% threshold.
Ownership duration: 50 years — and how do you renew?
This is the single biggest difference from the property rights enjoyed by Vietnamese citizens:
- Vietnamese citizens: Permanent ownership (indefinite pink book title)
- Foreigners: Time-limited ownership of 50 years, calculated from the date the Certificate of Residential Ownership is issued
Renewal: Before the ownership period expires, the foreign owner may apply to renew for a further 50 years. The renewal process is handled at the local land registration authority. The law does not cap the number of renewals, meaning that in theory ownership can be extended indefinitely in 50-year increments.
Note for resale transactions: If you sell your apartment to another foreigner, the new buyer's ownership will be limited to the remaining term on the existing 50-year period — the clock does not reset. However, if you sell to a Vietnamese citizen, the buyer can convert the title to a permanent pink book.
Costs and taxes for foreigners buying property
The cost structure when purchasing property in Ho Chi Minh City includes the following main items:
| Cost Item | Typical Amount | Notes |
|---|---|---|
| Purchase price | From 2 to 5 tỷ (mid-range) or 5 tỷ and above (premium) | Varies by project and district |
| Registration tax (stamp duty) | 0.5% of the contract value | As stipulated by the Ministry of Finance |
| Notarisation fee | Per the government fee schedule (typically 0.05%–0.1% of value) | Mandatory |
| Title transfer registration fee | A few triệu đồng | Paid at the district land registration office |
| Agent/brokerage commission | Typically 1%–2% (if using an agent) | Negotiable |
When selling, foreigners are required to pay personal income tax of 2% on the transfer price (or 25% on the net profit if the original purchase cost can be verified). Detailed tax information is available at the Ministry of Finance.
Step-by-step buying procedure for foreigners
The process of purchasing property in Vietnam as a foreigner involves the following key steps:
- Verify eligibility: Confirm your passport and visa are valid; confirm the project still has available foreign ownership quota.
- Pay a deposit: Sign a deposit agreement (typically 5%–10% of the property value). It is strongly advisable to have a Vietnamese lawyer review the agreement.
- Sign the sale and purchase agreement: Notarisation is mandatory at an authorised notary office. The contract must be translated into a language you understand.
- Make staged payments: Typically structured across multiple instalments tied to construction progress (for off-plan properties), or as a lump sum payment (for completed properties).
- Take handover of the property: Conduct a physical inspection of the unit and sign the handover record.
- Apply for the Certificate of Ownership (pink book): Submit your application file at the district or commune land registration office. Processing typically takes 30 to 60 working days.
See the detailed 9-step guide here: /knowledge/quy-trinh-mua-can-ho-tphcm-9-buoc-tu-xem-nha-den-sang-ten.
Can foreigners get a mortgage from a Vietnamese bank?
This is a question many buyers have in practice. The answer is possibly, but the conditions are considerably stricter than for Vietnamese borrowers:
- The majority of Vietnamese commercial banks do not lend to foreigners who do not have stable income in Vietnam (i.e., a long-term employment contract and a valid work permit).
- Some banks may consider a loan if you hold a work permit with at least 1 year remaining validity and can demonstrate income through bank statements.
- Loan-to-value ratios are typically lower: a maximum of 50%–70% of the property value, compared with 70%–80% for Vietnamese borrowers.
- The loan term generally cannot exceed the remaining 50-year ownership period on the property.
In practice, the vast majority of foreigners purchasing property in Vietnam do so using their own funds (without a bank loan), particularly those buying for investment purposes or long-term self-use. Up-to-date information on interest rates and lending policies is available at the State Bank of Vietnam.
Which areas of Ho Chi Minh City are best suited for foreigners?
Ho Chi Minh City has several areas that are especially popular within the expat community, offering comprehensive international-standard amenities:
Thảo Điền (District 2 / Thủ Đức City): Widely regarded as Ho Chi Minh City's largest "expat neighbourhood." Home to numerous international schools, restaurants, and imported-goods supermarkets. Apartment prices range from 4 tỷ to 15 tỷ and above, depending on the project. Browse projects in Thảo Điền.
Phú Mỹ Hưng (District 7): A well-planned, quiet urban township with large Korean and Japanese communities. Ideal for families with young children. Browse projects in Phú Mỹ Hưng.
District 1 (City Centre): Prime location, close to offices and central amenities. Prices are high, typically ranging from 6 tỷ to 20 tỷ for premium apartments. Browse projects in District 1.
Bình Thạnh: A balanced choice between price and location — close to the city centre but more affordable. Browse projects in Bình Thạnh.
Key legal risks and considerations
Even though the law has opened the door, there are several risks that foreign buyers must pay particular attention to:
Risk relating to project legal status:
- Only purchase in a project that has been officially approved and licensed by the competent state authority to sell property to foreigners. Always request written confirmation from the developer.
Contractual risk:
- Sale and purchase contracts sometimes contain clauses that are unfavourable to the buyer and are not clearly explained. You should engage an independent lawyer (not the developer's lawyer) to review the contract before signing.
Policy change risk:
- The legal framework governing real estate in Vietnam changes fairly frequently. Be sure to check the latest regulations before transacting, especially following the Housing Law 2023 and the Land Law 2024, both of which took effect on 01/01/2025.
Liquidity risk:
- The secondary market for foreign-owned apartments in Vietnam is more limited than the general market. When you need to sell, it may take considerably more time to find a suitable buyer.
Read further in-depth analysis at VnExpress covering developments in the real estate market for foreign buyers.
Frequently asked questions
What type of visa does a foreigner need in order to buy property in Vietnam?
Under current regulations, a foreigner simply needs to have been lawfully admitted to Vietnam — meaning a valid passport and any valid visa. A long-stay visa, permanent residency, or work permit is not required in order to be eligible to purchase property.
After 50 years, does a foreigner automatically lose their property?
No, you do not automatically lose the property. Before the 50-year period expires, you can apply to renew for a further 50 years at the local land registration authority. The law does not cap the number of renewals. If you do not renew, the state will handle the matter according to applicable regulations; however, this scenario has not yet occurred in practice in Vietnam.
Can a foreigner rent out an apartment they have purchased?
Yes. A foreigner who legally owns property in Vietnam has the right to lease that property. However, the rental contract must be registered with the local tax authority and rental income tax must be paid in accordance with the regulations (typically 5% VAT plus 5% personal income tax on rental revenue).
Can a foreigner co-own property jointly with a Vietnamese person?
Yes, this is possible, but the foreign party's ownership share remains subject to the 50-year limit. The Vietnamese party's ownership share (spouse or partner) will be recorded separately on the pink book. This arrangement is most commonly applied to couples where one spouse is Vietnamese and the other is a foreigner.
Does the 30% quota affect any specific projects in Ho Chi Minh City?
Yes. Several premium projects in Thảo Điền, Phú Mỹ Hưng, and District 1 are known to be near or at the 30% cap. Before paying a deposit, you must require the developer to provide written confirmation that the project still has quota available for foreign buyers. This is a mandatory step to avoid the risk of being unable to receive your pink book.
How do the property purchase rights of Overseas Vietnamese (Việt kiều) differ from those of other foreigners?
There is a significant difference. Overseas Vietnamese who hold Vietnamese citizenship enjoy property ownership rights nearly equivalent to domestic Vietnamese citizens, including permanent ownership (not subject to the 50-year limit) and exemption from the 30% quota. Overseas Vietnamese who no longer hold Vietnamese citizenship but possess a certificate of Vietnamese origin are also afforded more favourable treatment than ordinary foreigners.
Are there any taxes a foreigner must pay when reselling an apartment?
Yes. When transferring ownership, a foreigner must pay personal income tax of 2% on the total transfer price (applicable when net profit cannot be determined), or 25% on the net profit (sale price minus the original purchase price and eligible costs). In addition, the buyer is responsible for paying a 0.5% stamp duty (registration tax).
Need help from a property agent?
Browse our HCMC agent directory, or let us match you with an agent who works with foreign buyers.
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