Buy Property in Vietnam: What Foreigners Can Own and Where to Look

Apartments for sale in Vietnam make up about 40% of our stock and are the most accessible type for foreigners. Villas and houses appear in gated communities and resort developments, while land plots are mostly listed by local sellers. Foreigners cannot own land outright, so check the structure of any land deal very carefully.

Be cautious with condotels and resort apartments that promise guaranteed rental returns. The ownership rules for those schemes have been unclear in some projects, and the marketing may not match the legal title.

Yes, with limits. Under the Law on Housing, as updated in 2023 and in force from 2024, foreign individuals who are lawfully entered into Vietnam can own apartments and houses in commercial housing projects. Key rules include:

• Time-limited ownership: up to 50 years from the date the certificate is issued, with the possibility of one extension (check the current rules).
• Quotas: foreigners may own up to 30% of the apartments in a single building, and up to 250 houses in a ward-level area.
• Land: the state owns all land. Foreigners hold use rights only through the unit, not the land itself.
• Projects: you can only buy in approved commercial housing projects, not in all types of existing housing.

Rules differ for Vietnamese-origin overseas citizens. Because details change, hire a Vietnamese lawyer and ask to see the project's legal approvals. See the Vietnam consultation guide for more.

1. Choose a project and check developer approvals. Ask for the investment licence, land use right certificate and construction permits.
2. Confirm the foreign ownership quota for that building with the developer.
3. Sign a reservation and then a sale and purchase agreement (SPA). Off-plan payments are made in stages, and the law limits how much a developer may collect before handover.
4. Pay in instalments by bank transfer. Keep records, since foreign currency conversion rules apply.
5. Take handover and inspect.
6. Apply for the pink book, the certificate of ownership, which can take several months.

Resales are more complex than primary purchases: check that the seller has already received the certificate.

All figures are approx. and should be verified locally.

Vietnamese banks seldom lend to foreigners, and when they do, the borrower typically needs a work permit, local income and a resident status. Most foreign buyers pay cash, with remittance records, or use developer payment plans. International mortgages secured on Vietnamese property are rare. Compare your options in our mortgage calculator and read the Vietnam financing guide.

Owning an apartment can support a long-term visa application: foreign owners are eligible for temporary residence cards in some cases, and Vietnam has expanded visa-exempt stays and e-visas. Rules shift often, so confirm the latest position with the immigration authorities. For market context, see the Vietnam market analysis.

Pros

• Open to foreign buyers in approved projects.
• Rapid urbanisation and a young population.
• Low cost of living and good beach lifestyles.
• Wide choice of new apartments.

Cons

• Leasehold-style ownership of up to 50 years.
• Quotas and approvals complicate resales.
• Legal and developer risk on off-plan buys.
• Limited mortgage access.