Can foreigners buy condo in Vietnam?

Last updated on August 26, 2025

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

Foreign nationals can legally purchase condominiums in Vietnam under specific conditions and quotas. The ownership comes with a 50-year renewable leasehold title, and foreigners cannot exceed 30% ownership in any single building.

Vietnam's property market has opened its doors to international buyers through well-defined legal frameworks that protect both investors and the domestic market. Understanding the process, restrictions, and opportunities is crucial for making informed investment decisions in this rapidly growing Southeast Asian economy.

If you want to go deeper, you can check our pack of documents related to the real estate market in Vietnam, based on reliable facts and data, not opinions or rumors.

Quick Summary:

Foreigners can buy condos in Vietnam with a 50-year renewable leasehold, subject to a 30% quota per building and specific documentation requirements.

The process requires valid passport and visa, legal due diligence, and cash payment as mortgages are rarely available to non-residents.

Aspect	Requirement/Details	Key Points
Ownership Type	50-year renewable leasehold	Freehold only if married to Vietnamese citizen
Nationality Restrictions	None - all foreigners eligible	Only valid passport and visa required
Ownership Quota	Maximum 30% per building	Strictly enforced by authorities
Physical Presence	Not required	Can buy remotely with power of attorney
Financing	Cash payment typically required	Local mortgages rarely available
Registration Tax	0.5% of property price	Plus VAT 10% and maintenance fee 2%
Popular Locations	HCMC, Hanoi, Da Nang	Rental yields 7-8.3%

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, 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 condos in Vietnam?

Yes, foreigners can legally purchase condominiums in Vietnam under the current Housing Law.

The Vietnamese government allows foreign nationals to own condos through a leasehold system with a 50-year term that can be renewed upon expiration. This applies to all foreigners regardless of nationality, as long as they hold a valid passport and have legally entered Vietnam with proper visa documentation.

Foreign ownership is subject to strict quotas - foreigners cannot own more than 30% of the total units in any single condominium building. This quota system ensures that the majority of residential units remain under Vietnamese ownership while still allowing international investment in the property sector.

The only exception to the leasehold rule applies to foreigners married to Vietnamese citizens, who can obtain freehold (permanent) ownership rights similar to Vietnamese nationals. As of September 2025, these regulations remain stable and consistently enforced across all major Vietnamese cities.

Are there nationality or residency restrictions for buying condos?

No nationality-based restrictions exist for foreign condo ownership in Vietnam.

Citizens from any country can purchase condominiums as long as they meet the basic legal entry requirements. The Vietnamese Housing Law treats all foreign nationals equally, whether they come from the United States, Europe, Australia, or neighboring Asian countries.

Residency status is not required for property ownership. Foreigners do not need to be Vietnamese residents, hold work permits, or maintain any specific visa status beyond legal entry into the country. A tourist visa or business visa is sufficient to complete a property purchase.

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

The government maintains this open policy to attract foreign investment while protecting domestic interests through the 30% ownership quota system in each building.

What visa requirements must foreigners meet to buy property?

Foreigners only need a valid passport and legal entry stamp to purchase condos in Vietnam.

Any type of Vietnamese visa works for property purchases, including tourist visas, business visas, work permits, or temporary residence cards. The key requirement is demonstrating legal entry into Vietnam through official border checkpoints with proper documentation.

Vietnam does not offer property investment visas or residency programs based solely on real estate ownership. Unlike some countries that grant long-term residency for property investments, Vietnam treats real estate ownership and immigration status as separate matters.

However, property ownership can support applications for business investment visas if combined with establishing a local company or meeting other business investment criteria. Foreign buyers should consult immigration lawyers if they plan to use property ownership as part of broader residency strategies.

Can foreigners buy condos remotely without being physically present?

Physical presence in Vietnam is not mandatory for condo purchases, but remote buying carries significant risks.

Foreigners can complete purchases through authorized local representatives using power of attorney documents. This process requires notarized authorization allowing the representative to sign contracts, make payments, and handle all legal procedures on the buyer's behalf.

However, real estate experts strongly recommend at least one in-person visit before finalizing any purchase. Remote buyers face higher risks of fraud, misrepresentation, or purchasing properties that don't meet expectations in terms of quality, location, or legal status.

Due diligence becomes more challenging when buying remotely, as buyers cannot personally inspect the property, verify developer credentials, or assess neighborhood conditions. Many successful foreign investors visit Vietnam multiple times during the buying process to ensure informed decision-making.

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What is the step-by-step process for foreigners to buy condos?

The condo purchase process for foreigners follows seven essential steps that typically take 2-4 months to complete.

First, conduct market research and identify government-approved commercial housing projects that allow foreign ownership and verify available quota spots. Second, perform thorough due diligence by checking the developer's land-use rights, project approvals, and any existing liens or legal disputes.

Third, sign a reservation agreement and pay a refundable deposit, usually ranging from $2,000 to $8,000. Fourth, execute the formal Sales and Purchase Agreement (SPA) through Vietnamese notarization, typically requiring an additional 10-30% payment.

Fifth, complete all remaining payments through authorized local banks and conduct final property inspection before receiving keys. Sixth, apply for the ownership certificate (locally called "Pink Book") from local authorities, which takes approximately one month to process.

Finally, register the property and settle all required taxes including VAT, registration tax, and maintenance fees to complete the legal ownership transfer.

What key documents do foreigners need for condo purchases?

Foreign buyers must prepare several essential documents for legal condo ownership in Vietnam.

Valid passport with Vietnamese visa and official entry stamp proving legal entry
Proof of funds including bank statements, employment certificates, or income documentation
Notarized Sales and Purchase Agreement (SPA) executed in Vietnamese language
Tax payment receipts for VAT, registration tax, and maintenance fees
Property inspection and compliance certificates confirming building standards
Power of attorney documents if purchasing through a representative
Certified Vietnamese translations of all foreign documents

All documents must be properly notarized through Vietnamese authorities or authorized notary services. Foreign documents typically require apostille certification from the issuing country before Vietnamese authorities will accept them.

Buyers should prepare multiple copies of each document as various government offices, banks, and legal representatives will require original documentation throughout the purchase process.

Is hiring a lawyer necessary for condo purchases?

While not legally mandatory, hiring a Vietnamese real estate lawyer is highly advisable for foreign condo buyers.

Legal representation helps avoid common pitfalls including unauthorized projects, quota violations, fraudulent developers, and improper documentation. Vietnamese property law contains numerous technical requirements that can result in invalid purchases if not properly handled.

Lawyers provide essential services including due diligence on developer credentials, verification of project approvals, review of all contracts before signing, and guidance through the complex notarization process. They also ensure compliance with foreign ownership quotas and help identify any red flags that could void the purchase.

The Vietnamese legal system requires all Sales and Purchase Agreements to be notarized through local People's Committees or authorized notary offices. Having legal representation ensures this process is completed correctly and protects the buyer's interests throughout the transaction.

Which areas do foreigners prefer for buying condos in Vietnam?

Ho Chi Minh City dominates foreign condo purchases, particularly in Districts 2 (Thu Duc), 7, and Phu Nhuan.

These HCMC districts attract international buyers due to modern infrastructure, established expat communities, proximity to international schools and hospitals, and strong rental demand from the growing foreign professional population. District 2 has become especially popular following major urban development projects.

Hanoi ranks second in foreign preference, with Tay Ho (West Lake) and Hoan Kiem districts leading sales to international buyers. These areas offer upscale lifestyle amenities, cultural attractions, and easy access to diplomatic quarters where many foreigners work.

Da Nang attracts buyers seeking coastal lifestyle properties, while Nha Trang appeals to those focused on tourism-related rental income. Phu Quoc Island has gained attention due to its special economic zone status and relaxed visa policies for international visitors.

What are the best areas for investment potential and livability?

Location	Livability Score	Investment Potential
HCMC District 2 (Thu Duc)	Excellent expat amenities, international schools	High rental yields 8.3%, strong capital appreciation
HCMC District 7	Modern infrastructure, shopping centers	Stable rental demand, good resale value
Hanoi Tay Ho	Lakeside lifestyle, diplomatic area	Premium market, steady price growth
Da Nang Beach Area	Coastal living, clean environment	Tourism rental potential, seasonal income
Nha Trang Center	Tourist city amenities, beaches	High rental yields 8.1%, vacation rental market
Phu Quoc Island	Island lifestyle, special economic zone	Emerging market, visa-free tourism benefits
Hanoi Cau Giay	Family-friendly, good schools	Moderate yields 7.2%, stable growth

infographics rental yields citiesVietnam

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 current condo prices across Vietnamese cities?

City	Average Price (USD/sqm)	Median Condo Price (USD)
Ho Chi Minh City	$2,700 - $4,400	$167,505
Hanoi	$2,000 - $3,700	$123,000
Da Nang	$1,500 - $2,600	$112,500
Nha Trang	$1,300 - $2,200	$156,900
Phu Quoc	$1,650 - $3,100	$138,000

Ho Chi Minh City commands the highest prices with premium districts reaching $4,400 per square meter as of September 2025.

Hanoi prices have been rising rapidly and are catching up to HCMC levels, particularly in central districts like Hoan Kiem and Ba Dinh. The capital's median condo price of $123,000 represents strong value compared to other regional capitals.

Da Nang offers the most affordable entry point for foreign buyers at $1,500-$2,600 per square meter while still providing good rental yield potential. Coastal cities like Nha Trang command premium pricing due to tourism demand and limited supply of foreigner-eligible projects.

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

What mistakes should foreigners avoid when buying condos?

The most critical mistake is failing to verify developer credentials and project approvals before signing any agreements.

Not confirming the building's approval for foreign ownership and available quota spaces
Skipping thorough due diligence on developer licenses and land-use rights
Bypassing legal representation to save costs, leading to invalid contracts
Using unauthorized money transfer methods instead of approved banking channels
Underestimating ongoing maintenance costs and property management fees
Purchasing in areas not approved for foreign ownership
Failing to obtain proper Vietnamese translations of all documents
Not budgeting for all required taxes and fees beyond the purchase price

Many foreign buyers also make the mistake of not visiting the property location multiple times or during different seasons to assess noise levels, traffic patterns, and neighborhood conditions that could affect livability and resale value.

Language barriers create additional risks when buyers cannot properly understand contract terms or legal requirements, making professional translation and legal representation essential for protecting their interests.

Can foreigners get mortgages for condo purchases in Vietnam?

Most foreigners must pay cash for condo purchases as Vietnamese bank mortgages are rarely available to non-residents.

Vietnamese banks typically require permanent residency, local work permits, and documented Vietnamese income sources before approving mortgage applications. These requirements effectively exclude most foreign buyers from local financing options.

Foreigners married to Vietnamese citizens have better access to local mortgages, with typical terms including maximum 15-year loans, 8-12% annual interest rates, and minimum 20% down payments. Some international banks may provide financing for qualifying clients with strong Vietnam-based credentials.

Many foreign buyers use cash from overseas property sales, business income, or secure loans against assets in their home countries to finance Vietnamese condo purchases. This cash-only reality requires careful financial planning and currency exchange consideration for international buyers.

What are the total costs and taxes involved in condo transactions?

Foreign condo buyers face multiple taxes and fees that add approximately 12-15% to the base purchase price.

Cost Type	Rate	Details
Value-Added Tax (VAT)	10%	Usually included in listed price
Registration Tax	0.5%	Based on property price
Maintenance Fee	2%	Calculated before VAT
Notary Fees	0.05% - 0.1%	May vary by location
Capital Gains Tax (Resale)	2%	Flat rate on sale price
Rental Income Tax	10%	5% VAT + 5% personal income tax
Legal/Brokerage Fees	1-3%	Professional service costs

When reselling condos, foreigners pay a flat 2% capital gains tax on the total sale price regardless of profit margins. Rental income from foreign-owned condos is subject to 5% VAT plus 5% personal income tax, totaling 10% of rental income.

Additional costs include power of attorney fees for remote purchases, translation services, and potential currency exchange fees when transferring funds from overseas. Buyers should budget at least 15% above the listed property price to cover all required costs.

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

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.

Foreign condo ownership in Vietnam offers legitimate investment opportunities within a well-defined legal framework that protects both international buyers and domestic interests.

Success requires thorough due diligence, proper legal representation, and understanding of the 50-year leasehold system, ownership quotas, and cash-payment requirements that define the Vietnamese property market for foreign investors.