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Can foreigners buy second hand properties?

Someone told me that foreingers can only buy newly built properties. Is this true or can foreigners buy second hand properties as well?

Foreigners can still buy second hand properties but only from another foreigners. You can't buy those from a Vietnamese person.

So your saying a Vietnamese can't sell their property to a foreigner ?

Second hand means a place has already be owned by someone.    Are you saying a foreigner can only buy brand new property from a developer,? 

The "property speculators & flippers" will love that idea won't they.?

I am surrounded by over development in Nha Trang and thousands of these places have already been "sold" to local "flippers" and speculators form Hanoi and Saigon.   They are preying that they can offload them to gullible foreigners that are unaware of the problems involved.

If your correct , that party's over.

Yes, that's what i'm saying. Foreigners can only buy properties from:
1. Brand new properties from a developer or
2. Second hand properties from another foreigners.
Vietnamese can't sell their properties to a foreigner but foreigners can sell there properties to Vietnamese.

Good, Yogi will take that as gospel.

Next time a local tries to sell me their house , I'm off the hook.

Yogi007 :

Good, Yogi will take that as gospel.

Next time a local tries to sell me their house , I'm off the hook.

Just kidding.....Yogis an agnostic.   

You may want to have a look at the new Vietnamese Law on Housing with reference to foreign ownership.

Law 65/2014/QH13

That appears to contradict your theory that foreigners can only buy "brand new"

Also, for those interested,  maybe a peekaboo at post 61# on the thread "Layman's guide to property purchases ". In the accommodation section.     Some sobering stuff there kiddies...

Yes you're right!

Buying property is not like buying property in countries that allow you free hold ownership. What they offer here is more like a long term lease which carries many of the rights of full ownership but not even citizens of Vietnam are allowed to own land outright. You can lease property to others or transfer you land use rights to them and that is about as close to an actual sale as you will come to. Everyone will respect your rights , the same as if you were a free hold owner though. You can build on, lease or sell your land use rights which included buildings and anything attached to them or specific use land like farm land , commercial or industrial properties.

However be careful if you should need or desire to leave the country as doing so may result in cancelling your land use rights or anything resembling full ownership. I leave the country but leave a family member in charge of managing the properties while in my absence. If the government gets wind of you leaving all bets are off.

You can also purchase essentially land use rights directly from the government for specific purposes like doing a real estate development but once your project is fully leased out or sold you ownership interests also end there, but I would recommend you contact a good attorney for more accurate interpretation of the Vietnam laws.

Futur will tell...

Just bought 2 new appartments in Q2, New City (delivery now) and Diamond Island (DDelivery oct 2018 / ROI after tax and inflation 4 to 5%).
And one new house in Dong Nai / Swan Park.

Interm of risk management I left 50% of my capital in Paris and European Real Estate...

I love these threads.

Short answer, YES, you can buy anything you can pay for in Vietnam.

But the question you should be asking is whether you will ever get your money (I won't call it an investment) back?

These are great investments! Are you looking to buy anything else? What projects would be good to invest in?:)

The duration of absence if SHORT, 90 days

Wxx3 :

I love these threads.

Short answer, YES, you can buy anything you can pay for in Vietnam.

But the question you should be asking is whether you will ever get your money (I won't call it an investment) back?

NO, 100% capital gains tax, you get back original investment, + profits gained from the business and the pleasure of living there. That's worth it depending on how long you stay

MarkinNam :

NO, 100% capital gains tax, you get back original investment, + profits gained from the business and the pleasure of living there. That's worth it depending on how long you stay

Can you cite the existence of a 100% capital gains tax in Vietnam.  I am somewhat skeptical because with such a tax the fairly active stock exchange (HSX or HOSE) would cease to function.  Such methods may not be readily available to foreigners, but I am well aware of Viet Kieu families that are hauling loads of real estate profits out of the country $5000 per person per trip.

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