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Foreigners can buy apartment in Vietnam - Is that true?

Dear all,
I have some quick questions which are absolutely related to real estate law.  Vietnamese Law says a foreigner can purchase apartment under their name. Some of you already purchased one too.
My questions are :
1.  What type of apartment they can purchase?
2. If your answer is "all types of apartment", say whether this law only applicable in main cities or all over Vietnam.

According to Article 161 (2)C of The Law on Housing, 2014:

"The foreign individuals are eligible for the homeownership as agreed in agreements on housing sale, lease purchase, gifting, or inheritance for not more than 50 years, from the day on which they are granted the Certificate and they may be also granted extension as prescribed in regulations of the Government; the duration of the homeownership must be stated in the Certificate.
If a foreign individual marries to a Vietnamese citizen or an oversea Vietnamese, he/she qualifies for stable and long-term homeownership and has all rights of homeowner similarly to Vietnamese citizens;"
Hope to get some serious replies from experienced ones :D

I bought my apartments through ownership under my wife's name, however, under Vietnamese regulations I am allowed to purchase and own an apartment and ownership was transferred and was notarized at Provincial level public office.

I am married to a Vietnamese and had been residing in Vietnam at the time of Purchase for 2 years

The apartments were built under a commercial housing development project, however,  the maximum duration of residential house ownership is 50 years from the date of your certificate under Vietnamese law.

After 50 years and within 12 months after the expiration of this duration, we will have to sell or donate these apartments to another person(s)...I will be 106 years old at that point so I really wont give a shit!

Happy to heard that you bought apartment under your wife's name :D
Did you see this?
"If a foreign individual marries to a Vietnamese citizen or an oversea Vietnamese, he/she qualifies for stable and long-term homeownership and has all rights of homeowner similarly to Vietnamese citizens;"
This also applicable when you buy joint ownership.
Anyway I am searching for foreigners already bought under their name, thanks!

I am from usa, just bought two under my name

- Foreigners are allowed to buy all types of real estate in cities as a vietnamese. However, there are two small limitations:
1) Only 50 years of ownership (you can sell it before the year 50, or you get married with a vietnamese)
2) The number of foreigners owning real estate in an area not exceeding 30%

Before buying an apartment in Viet Nam, find a good lawyer. Their are few buyer protections and one can find themselves loosing the apartment after having paid for it, especially in a new building. The issue is that the building is built on borrowed money and the builder is frequently unable to repay the construction loan and the apartment owners then become liable for the loan.

Note, this is an issue both in and out, of expat zones and Vietnamese as well as expats are victims.

That's a good point that 70 years old made... always enter into buying a property in Vietnam with caution and don't rush into it...

They just can apartments in commercial projects. The law is applied to the whole country Vietnam.

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I recently ran into something that somewhat resembles "escrow." This seems to be a rather new development. Anyway, I was able to buy a condo in a secure and relatively painless process.

@70, would you like to share your experiences?

So, the statement regarding overseas Vietnamese having full rights to purchase presumably includes Viet Ku, spelt wrongly, talking apartments...
Thanks guys...

My wife has a Viet Kieu paper #1 and based on that we bought an apartment roughly one month ago in both her name and my name as well.

What I love about Vietnam is that you can "buy" anything you want.
Now, owning it, is another matter.

But I'm sure you know that, since you are asking on this forum, where you can always get the answer you want to hear.

Wxx3 :

What I love about Vietnam is that you can "buy" anything you want.
Now, owning it, is another matter.

But I'm sure you know that, since you are asking on this forum, where you can always get the answer you want to hear.

How many years have you been residing in Viet Nam.

colinoscapee :
Wxx3 :

What I love about Vietnam is that you can "buy" anything you want.
Now, owning it, is another matter.

But I'm sure you know that, since you are asking on this forum, where you can always get the answer you want to hear.

How many years have you been residing in Viet Nam.

The details can become, significant. A foreigner can inherit property and will have the same level of ownership as the person he inherited it from had. If the foreigner inherited property from a Vietnamese citizen who had complete ownership rights, then that is what the foreigner would inherit, the same rights.

A Viet Kieu with a Viet Kieu #1 paper can buy a 50 year "ownership" on a piece of property or full ownership in a condo. A foreigner can buy a 50 year ownership in a condo.

Just been through that stuff.

I think you are missing the point or you don't care to understand it.
It's not how long I've lived in Vietnam or anyplace else.

It's simply that there is always an exception to the rule.

That some action (whatever that action is) works well for you or for many, does not mean it will work 100% of the time.

This is not a only a function of life in Vietnam, most of the world is like this.  But the bigger the bureaucracy, the more inconsistent execution becomes.

Why I take the time to point some of these things out is that when someone asks advice, it's good that they hear the full gamut of possibilities, not just a narrow view that may or may not work all the time.

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