Can foreigners buy apartment in Vietnam?

Authored by the expert who managed and guided the team behind the Vietnam Property Pack

Everything you need to know before buying real estate is included in our Vietnam Property Pack

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Vietnam, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Vietnam. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At BambooRoutes, we explore the Vietnamese real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Ho Chi Minh City, Hanoi, and Da Nang. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

Can foreigners legally buy apartments in Vietnam or are there ownership restrictions compared to Vietnamese citizens?

Yes, foreigners can legally buy apartments in Vietnam, but significant ownership restrictions apply compared to Vietnamese citizens.

Foreigners are granted 50-year renewable leasehold rights on properties within approved commercial housing projects, not freehold ownership. Vietnamese citizens can own property outright with indefinite tenure. The key restriction is that foreigners cannot own land—only the structures built on state-owned land.

Foreign ownership is only permitted within designated commercial housing projects that have received government approval for international sales. Independent land purchases or properties outside these approved developments are prohibited for non-Vietnamese buyers. Additionally, areas deemed critical for national defense or security remain completely off-limits to foreign ownership.

As we reach mid-2025, the legal framework remains stable with the 50-year lease term renewable for another 50 years, making it effectively a 100-year ownership period. However, this leasehold structure means the property reverts to the state if renewal conditions aren't met.

It's something we develop in our Vietnam property pack.

What types of apartments are foreigners allowed to buy—off-plan, resale, landed condos, or only new developments?

Foreigners can buy multiple apartment types in Vietnam, including off-plan units, resale properties, and landed condos within specific project frameworks.

Off-plan purchases from approved developers are fully permitted, provided the project has government authorization for foreign sales and hasn't exceeded the 30% foreign ownership quota. These new developments often offer the most straightforward purchase process with clear legal documentation.

Resale apartments are also allowed, but buyers must verify that the unit falls within the foreign ownership allocation and that all previous ownership transfers were properly documented. The selling foreigner must have held valid ownership certificates throughout their tenure.

Landed condos and houses within commercial housing projects are permitted under the 10% foreign ownership limit for landed properties. However, standalone houses outside approved developments remain prohibited.

Properties explicitly excluded include undeveloped land plots, traditional Vietnamese houses outside commercial projects, and any real estate in areas designated for national defense or security purposes.

Are there limits on how many units in a single building foreigners can own, or where geographically they're allowed to buy?

Strict ownership quotas and geographic restrictions apply to foreign apartment purchases in Vietnam.

Property Type	Foreign Ownership Limit	Geographic Restrictions
Condominium Units	Maximum 30% of total units per building	Prohibited in defense/security zones
Landed Houses in Projects	Maximum 10% or 250 units per ward	Must be in approved commercial projects
Mixed-Use Developments	30% limit applies to residential portions	Subject to local authority approval
Resort Properties	30% limit in designated tourism zones	Popular in Da Nang, Nha Trang, Phu Quoc
Urban Apartments	30% limit in major cities	Open in HCMC, Hanoi, most urban centers
Rural Properties	Generally prohibited	Limited to approved tourism projects
Border Areas	Completely prohibited	Security-sensitive regions excluded

Do foreigners need any specific type of visa or residency permit to buy or own an apartment in Vietnam?

No specific visa or residency permit is required for foreigners to buy apartments in Vietnam.

The only legal requirement is possessing a valid passport with an official entry stamp into Vietnam at the time of signing the purchase contract. Tourist visas, business visas, work permits, and temporary residence cards all qualify equally for property purchase eligibility.

Diplomatic immunity holders are explicitly excluded from property ownership rights under Vietnamese law. However, overseas Vietnamese (Viet Kieu) with foreign citizenship enjoy the same purchasing rights as other foreign nationals.

The entry stamp must be current and valid during the contract signing process. Visa extensions or renewals don't affect existing property ownership rights, but initial purchase requires proof of legal entry into the country.

As of June 2025, this simplified approach makes Vietnam one of the more accessible Asian markets for foreign property investment compared to countries requiring long-term residency or substantial local investment history.

Can I purchase an apartment in Vietnam without being physically present, or do I need to be in the country during the transaction?

Physical presence is generally required for apartment purchases in Vietnam, particularly for contract signing and notarization procedures.

Key transaction steps requiring your presence include signing the Sales & Purchase Agreement (SPA), notarizing legal documents, and completing ownership registration procedures. Vietnamese law mandates that major real estate contracts be signed in person before authorized notaries or legal officials.

However, you can appoint a legal representative through a notarized power of attorney to handle specific aspects of the purchase process. This representative must be authorized to act on your behalf for property transactions and must present the properly authenticated power of attorney documents.

Remote purchasing adds complexity and potential legal risks, including documentation delays, communication challenges, and limited oversight of the transaction process. Most legal experts recommend being present for at least the initial contract signing and final handover procedures.

For off-plan purchases with extended payment schedules, some developers allow initial deposits to be made remotely, but final completion typically requires physical presence for document verification and key handover.

What is the full step-by-step process to buy an apartment as a foreigner, and what documents do I need to prepare?

The apartment purchase process for foreigners follows a structured eight-step procedure with specific documentation requirements.

1. **Property Selection and Verification**: Research apartments in approved commercial housing projects and verify foreign ownership quota availability2. **Eligibility Confirmation**: Ensure the project hasn't exceeded the 30% foreign ownership limit and obtain written confirmation from the developer3. **Deposit Agreement**: Sign a reservation contract and pay the initial deposit (typically 5-10% of purchase price)4. **Sales & Purchase Agreement (SPA)**: Execute the main contract with payment schedule, delivery terms, and legal obligations5. **Payment Completion**: Follow the agreed payment schedule, usually in Vietnamese Dong through authorized banking channels6. **Property Handover**: Receive apartment keys, warranties, and technical documentation upon final payment7. **Ownership Registration**: Submit documentation to local authorities for the "Pink Book" ownership certificate8. **Tax Settlement**: Pay all applicable taxes, fees, and registration costs as required by law

Essential documents include your valid passport with entry stamp, signed SPA and deposit agreements, proof of payment transactions, ownership certificate application, and any additional documents requested by local authorities.

The entire process typically takes 3-6 months for off-plan purchases and 6-8 weeks for completed resale properties, depending on documentation completeness and local authority processing times.

It's something we develop in our Vietnam property pack.

Do I need a local lawyer or agent to legally complete the apartment purchase, or is it optional?

Local lawyers and agents are optional but highly recommended for apartment purchases in Vietnam.

Vietnamese law doesn't mandate legal representation for property transactions, but the complexity of foreign ownership regulations makes professional guidance valuable. Reputable lawyers provide contract review, due diligence verification, and regulatory compliance oversight throughout the purchase process.

For off-plan purchases from established developers with standardized contracts, legal representation may be less critical. However, resale transactions, complex ownership structures, or properties with unclear documentation significantly benefit from legal expertise.

Real estate agents facilitate property searches, negotiate terms, and coordinate with developers, but they cannot replace legal advice for contract interpretation or regulatory compliance. Many successful foreign buyers use both agent services for property identification and legal services for transaction completion.

Professional fees vary widely, but the cost of legal and agent services is often offset by avoiding costly mistakes, documentation errors, or regulatory violations that could jeopardize ownership rights.

What are the taxes, fees, and costs involved in purchasing, owning, and reselling an apartment in Vietnam as a foreigner?

Foreign apartment buyers face several taxes and fees throughout the ownership cycle in Vietnam.

Tax/Fee Type	Rate/Amount	When Applied
Value Added Tax (VAT)	10% of property price	At purchase
Registration Fee	0.5% of property value	During ownership registration
Maintenance Fee	2% of property value	Annual ownership period
Income Tax on Resale	2% of sale price	When selling property
Rental Income Tax	10% (5% VAT + 5% PIT)	On rental income received
Notary/Legal Fees	Varies by transaction	During purchase process
Agent Commission	Typically paid by seller	At transaction completion

Can foreigners access mortgages in Vietnam, and if yes, what are the current interest rates, loan terms, and best tips to qualify?

Mortgage access for foreigners is extremely limited in Vietnam, with most buyers required to pay cash for apartment purchases.

Vietnamese domestic banks rarely offer mortgages to foreign nationals unless they hold work permits, demonstrate local income, and maintain long-term residency status. International banks like HSBC and Standard Chartered occasionally provide financing to qualifying expatriate clients, but terms are restrictive.

When available, foreign mortgage rates range from 8-12% annually with loan terms typically limited to 15 years or the duration of visa validity, whichever is shorter. Loan-to-value ratios usually cap at 70% for foreign borrowers compared to 85% for Vietnamese citizens.

Foreigners married to Vietnamese citizens have significantly better access to local mortgage products and may qualify for standard domestic lending rates and terms. Some buyers arrange financing through overseas banks or use existing property as collateral in their home countries.

The cash requirement makes Vietnam's property market accessible primarily to buyers with substantial liquid assets or those willing to leverage foreign-based financial instruments for purchase funding.

Which Vietnamese cities or districts are currently the best for foreigners to live in or invest in based on liveability, rental demand, and price appreciation potential?

Ho Chi Minh City, Hanoi, and Da Nang represent the top choices for foreign apartment investment and residence in Vietnam.

**Ho Chi Minh City** offers the highest rental demand and appreciation potential, with District 1 (Central Business District), Thao Dien (District 2), and Phu My Hung (District 7) leading expat preferences. Binh Thanh District provides emerging opportunities with lower entry costs and improving infrastructure connectivity.

**Hanoi** attracts long-term residents and investors seeking cultural authenticity, with Tay Ho (West Lake), Ba Dinh, Hoan Kiem, and Cau Giay districts offering excellent amenities and international community presence. The capital's stable government employment base supports consistent rental demand.

**Da Nang** appeals to lifestyle investors and retirees, with My An, Son Tra, and Hai Chau districts providing beachfront access, modern infrastructure, and lower living costs. The city's tourism growth drives short-term rental opportunities and long-term appreciation prospects.

Secondary markets including Nha Trang, Hoi An, Dalat, and Phu Quoc offer affordable entry points with lifestyle benefits, though rental demand and liquidity remain more limited than major cities.

It's something we develop in our Vietnam property pack.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Vietnam versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

What are the current apartment prices in key cities like Ho Chi Minh, Hanoi, and Da Nang, and how do they compare regionally?

Vietnam apartment prices vary significantly between major cities, with Ho Chi Minh City commanding premium rates followed by Hanoi and Da Nang.

**Ho Chi Minh City** leads with city center prices averaging £3,143 per square meter and outside center areas at £1,564 per square meter as of June 2025. Premium districts like District 1 and Thao Dien can exceed £4,000 per square meter for luxury developments.

**Hanoi** follows with city center prices at £2,239 per square meter and outside center areas at £1,226 per square meter. The capital's stable demand from government workers and international organizations supports consistent pricing.

**Da Nang** offers more affordable options generally 20-30% below Hanoi prices, though specific figures vary by district and project quality. Beachfront properties command premium pricing approaching Hanoi levels.

Regional comparison shows Vietnam prices are competitive with neighboring countries. Bangkok apartment prices exceed Vietnam by 40-60%, while Vietnam offers better value than Singapore or Hong Kong but costs more than Cambodia or Laos.

Price appreciation has been moderate but steady, with annual growth of 3-7% in major cities over the past three years, though luxury segments show more volatility based on foreign demand fluctuations.

What are the most common mistakes or pitfalls foreigners make when buying apartments in Vietnam, and how can I avoid them?

Foreign buyers frequently encounter preventable mistakes that can jeopardize their Vietnam apartment purchases.

1. **Exceeding Foreign Quota**: Always verify current foreign ownership availability before signing contracts, as developers may oversell allocations2. **Buying in Restricted Areas**: Confirm the project isn't in defense/security zones and has proper government approvals for foreign sales3. **Not Verifying Developer Credentials**: Only purchase from reputable developers with proven track records and proper licensing4. **Misunderstanding Leasehold vs. Freehold**: Remember you're buying 50-year renewable leasehold rights, not permanent land ownership5. **Insufficient Due Diligence**: Always check for existing debts, liens, or legal encumbrances on the property before purchase6. **Skipping Professional Advice**: Not using qualified lawyers or agents increases risks of documentation errors and regulatory violations7. **Ignoring Tax Implications**: Understand all taxes on purchase, ownership, rental income, and eventual resale before committing8. **Assuming Mortgage Availability**: Most foreigners must pay cash; don't assume local financing will be accessible

Avoiding these pitfalls requires thorough research, professional guidance, and realistic expectations about the Vietnamese property market's regulatory framework and foreign ownership limitations.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Wise - Buying Property in Vietnam Guide
2. Mitou - Foreigners Real Estate Vietnam 2025
3. Realtique - Vietnam Property Ownership Laws
4. High-End Residences - Foreign Property Buying Guide
5. Vietnam Teaching Jobs - Foreign Property Purchase
6. Vietnam Real Estate - Property Prices and Process
7. Vietnam Briefing - Housing Law Guidelines
8. LinkedIn - Foreign Apartment Purchase Notes
9. B Lawyers Vietnam - Foreign Purchase Conditions
10. Vis Real - Latest Property Regulations