The governing framework
Three pieces of legislation now define the rules for foreign property ownership in Vietnam. The Housing Law 2023 (Law No. 27/2023/QH15), passed by the National Assembly on 27 November 2023. The Land Law 2024 (Law No. 31/2024/QH15), passed on 18 January 2024. And Decree 95/2024/ND-CP, which provides implementation guidance. All three came into force on 1 January 2025, replacing the previous 2014–2015 regime.
Together, these laws expand and clarify what foreign nationals and organizations can purchase, how long they can hold it, and under what conditions ownership terminates or reverts. They are a genuine improvement over the prior framework. They are not, however, simple.
Who is eligible
Foreign individuals who have legally entered Vietnam may purchase residential property. No specific visa type is required — tourist visas, business visas, and long-term residence all qualify. The buyer must have full civil legal capacity under Vietnamese law and a valid passport with entry stamp.
Overseas Vietnamese (Việt Kiều) who still hold Vietnamese nationality now enjoy property rights equivalent to domestic citizens under the 2024 Land Law. This is a significant expansion from the previous regime.
Foreign organizations — branches, representative offices, investment funds, foreign bank branches operating in Vietnam — may also own property, but under different terms tied to their investment registration certificates.
You can own the structure. You cannot own the land.
All land in Vietnam belongs to the people and is administered by the state. Foreign buyers acquire a Land Use Right — a leasehold on the unit — not freehold ownership of the underlying land. This is not a loophole or a risk. It is the fundamental legal architecture of Vietnamese real property, and it applies equally to most Vietnamese citizens.
What it means in practice: when you buy a condo in Da Nang or a villa in a Phu Quoc development, you hold a time-limited right to that unit. The land beneath it never transfers to you.
Ownership caps
Foreign ownership in any single condominium building is limited to 30% of total units. Where a building has multiple blocks or sections sharing a common base, the 30% cap applies to each block separately — it cannot be concentrated in one section.
For standalone houses — villas, terraced houses, townhouses within commercial developments — foreign ownership is limited to 250 units per ward-equivalent area. Under Decree 95/2024, a ward-equivalent area is defined as a population of 10,000 people, applied uniformly across all administrative districts.
In developments where only one housing project exists within a 10,000-population area, foreign ownership is further limited to 10% of the units. These are hard caps. When a quota is full, no further foreign purchases are possible within that project or area.
Leasehold duration
Foreign individuals may own residential property for up to 50 years from the date of issuance of the Certificate of Ownership. One extension of up to 50 additional years may be requested, subject to conditions being met at the time of renewal. The maximum theoretical term is therefore 100 years.
For foreign organizations, the ownership term is tied to the validity of the investment registration certificate. The term and any extension conditions must be stated in the ownership certificate.
Upon expiration, the owner may sell or donate the property to any party eligible to own residential housing in Vietnam — including other foreigners. If neither sale nor donation occurs, the property reverts to state ownership. In practice, 50–100 years is a long horizon, but the reversion clause is real and should be understood.
The Pink Book
Commonly called the Pink Book (Giấy chứng nhận quyền sử dụng đất, quyền sở hữu nhà ở và tài sản khác gắn liền với đất), this is the Certificate of Land Use Rights, Ownership of Houses, and Other Land-Attached Assets. It is the only document that constitutes legal proof of property ownership in Vietnam.
For foreign buyers, the Pink Book records the unit, the ownership term, any extension conditions, and the associated land use rights. Without a Pink Book in the buyer's name, the buyer does not legally own the property — regardless of what contracts, receipts, or broker assurances may say.
The issuance process involves notarization, registration with the Land Registration Office, and verification of quota compliance. Delays are common. Some developments cannot issue Pink Books to foreign buyers at all due to zoning restrictions, incomplete developer compliance, or quota exhaustion.
What you can purchase
Foreign buyers may acquire apartments and standalone houses in commercial housing development projects. The property must be part of an approved commercial project — not a private sale of land or a self-built house. The project must not be located in areas designated as sensitive to national defense or security.
Under the Housing Law 2023, foreign buyers may acquire property through purchase, lease-purchase, gift, or inheritance. Foreigners may now legally sell property to other foreigners — a right that was ambiguous under the previous regime. The purchase agreement must be notarized or certified, and all payments must be conducted through a licensed credit institution in Vietnam.
What you cannot do
You cannot buy land. You cannot build on land you do not own through a development project. You cannot purchase property in restricted defense or security zones. You cannot exceed the foreign ownership cap. You cannot bypass the notarization and banking requirements.
You also cannot treat property ownership in Vietnam as a real estate business. The Real Estate Business Law 2023 explicitly restricts foreign individuals from engaging in real estate business activities. You can own, live in, rent out, and sell your unit — but you cannot operate as a property developer, broker, or real estate business entity as a foreign individual.
Transaction costs and taxes
The seller is responsible for a 2% personal income tax on the transfer price. Registration fees for the buyer are typically 0.5% of the property value as assessed by local authorities. Notarization and legal fees vary but are generally modest compared to the property value.
There is no annual property tax in Vietnam at the time of writing. However, non-agricultural land use tax applies to the land component, and the rates vary by district and classification. If you rent out the property, rental income is subject to VAT (5%) and personal income tax (5%).
The law has improved. Implementation is still catching up.
Several critical questions remain without definitive guidance. When a foreign buyer purchases a property from another foreign owner, does the new owner receive a fresh 50-year term, or the remaining term on the original certificate? The Housing Law 2023 does not clearly specify this.
How exactly are foreign quota positions tracked and published across projects? The mechanisms vary by province and are not standardized. What happens in practice when a development is unable to issue Pink Books? The buyer may hold a contract but not legal title — and the recourse options are limited.
These are not theoretical concerns. They are the gaps where foreign buyers lose real money. Independent verification before any deposit is the only protection.
Residency and property
Property ownership does not automatically confer residency rights in Vietnam. Visa policy and property law are separate domains. Long-term stays require appropriate visa arrangements — business visas, investor visas, or temporary residence cards — which have their own eligibility criteria.
For families considering relocation, the property decision and the residency decision must be planned in parallel, not assumed to be linked. VietnamLanding coordinates both dimensions for clients who need them.
The role of licensed Vietnamese professionals
All legal execution — contract drafting, notarization, title registration, tax filings, dispute resolution — must be handled by licensed Vietnamese legal, notarial, and brokerage professionals. No foreign advisory firm can substitute for this. Any firm that implies otherwise is misrepresenting its capability.
VietnamLanding's role is to help foreign buyers understand the framework, identify the risks, and arrive at the right decision architecture before engaging local execution partners. We introduce, coordinate, and verify — we do not replace the licensed professionals who must handle the legal process.
This overview reflects the legal framework as of early 2026, based on the Housing Law 2023, Land Law 2024, Decree 95/2024/ND-CP, and available implementation guidance. Laws and their interpretation evolve. This is an independent informational summary, not legal advice. Specific transactions require review by qualified Vietnamese legal counsel.